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Exam (elaborations)

Real Estate U NYS - Chapter 1 Exam Questions and Complete Solutions Graded A+

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Real Estate U NYS - Chapter 1 Exam Questions and Complete Solutions Graded A+

Institution
Real Estate U
Course
Real Estate U









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Institution
Real Estate U
Course
Real Estate U

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Uploaded on
August 24, 2024
Number of pages
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Written in
2024/2025
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NY STATE Real Estate U
Test Exam Prep
Questions and Complete
Solutions Graded A+

Denning [Date] [Course title]

, Department of State responsibility? - Answer: Responsible for issuing real estate licenses, pock cards,
and handing down disciplinary action.



Article 12-A NYS real property law outlines - Answer: Roles and responsibilities of department of state.



Typical commission in NY? - Answer: 6%



Commissions are ______ and determined by____? - Answer: -Negotiable



-both client and broker



Blind ad - Answer: An ad that remains anonymous as to who is advertising. Which is illegal



What must be included in advertisement? - Answer: 17.25 Article 12-A of NY real property law stats



-must indicate broker name and phone #



What happen if broker license is suspended or there is revocation? - Answer: Salesperson and
associates broker licenses are suspended.



What are Fiduciary Duties? - Answer: Obedience



Loyalty



Disclosure



Confidentiality



Accountability

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