Real Estate U Final
Exam Questions
and Complete
Solutions Graded
A+
Denning [Date] [Course title]
, Article 12 A - Answer: NYS Real Estate Property Law (1) Protect the public (2) Salesperson at least 18 (3)
broker at least 20 years .
Sponsor - Answer: Broker that holds salesperson license
Summary of Submission - Answer: Paper you get after registering for NYS test. Bring to tes with you
Misedemanor - Answer: Crime with no more than 1 year prison or $1,000 fine
Listing Agreement - Answer: Agreement between salesperson and property owner, allowing
salesperson to provide services to the owner involving their porperty
Pocket Card - Answer: Has salesperson photo, name, and business address of broker. Carry at all times
Fiduciary - Answer: Person responsible for other people's property and/or funds
OLD CAR - Answer: Obedience, Loyalty, Diclosure, Confidentiality, Accountability, and Reasonable Care
Disclosure Regarding Real Estate Agency Relationship Form - Answer: First form given to clien that
establishes the business relationship and understandings
Exclsive Agency - Answer: When client agees that only one broker is going to sell a property. Even if
someone else sells, the exclusive agent is entitled to commisions.
Principal - Answer: Client / Propert owner or buyer
Price Fixing - Answer: When multiple agents/brokers work together to determine the price of a service
so that noone can get a better of worse deal. Illegal
Market Allocation - Answer: Anti-competition. Illegal
Exam Questions
and Complete
Solutions Graded
A+
Denning [Date] [Course title]
, Article 12 A - Answer: NYS Real Estate Property Law (1) Protect the public (2) Salesperson at least 18 (3)
broker at least 20 years .
Sponsor - Answer: Broker that holds salesperson license
Summary of Submission - Answer: Paper you get after registering for NYS test. Bring to tes with you
Misedemanor - Answer: Crime with no more than 1 year prison or $1,000 fine
Listing Agreement - Answer: Agreement between salesperson and property owner, allowing
salesperson to provide services to the owner involving their porperty
Pocket Card - Answer: Has salesperson photo, name, and business address of broker. Carry at all times
Fiduciary - Answer: Person responsible for other people's property and/or funds
OLD CAR - Answer: Obedience, Loyalty, Diclosure, Confidentiality, Accountability, and Reasonable Care
Disclosure Regarding Real Estate Agency Relationship Form - Answer: First form given to clien that
establishes the business relationship and understandings
Exclsive Agency - Answer: When client agees that only one broker is going to sell a property. Even if
someone else sells, the exclusive agent is entitled to commisions.
Principal - Answer: Client / Propert owner or buyer
Price Fixing - Answer: When multiple agents/brokers work together to determine the price of a service
so that noone can get a better of worse deal. Illegal
Market Allocation - Answer: Anti-competition. Illegal
