NY REAL ESTATE LICENSE EXAM
QUESTIONS WITH VERIFIED ANSWERS
How will an examinee know what percent of the exam questions he or she answered
correctly?
A) The percentage score will be mailed to the examinee within 15 days of the exam.
B) The percentage score will available online only for those examinees who fail the
exam.
C) The percentage score is not given to the examinee.
D) The percentage score will be mailed to the examinee for a $25 fee. - Answer-C) The
percentage score is not given to the examinee.
Examination results are reported as either passed or failed with the numeric percentage
score not given to the examinee.
A real estate transaction has four stages. Which of the following is NOT one of those
stages?
A) Listing the property
B) Marketing the property
C) Negotiating the purchase contract
D) Settling the transaction - Answer-B) Marketing the property
The four stages of a real estate transaction include listing the property, negotiating the
purchase contract, financing the purchase, and settling the transaction.
The final step of the real estate transaction when the buyer gets the deed to the
property, the seller gets the proceeds from the sale, and the broker gets his or her
commission is called?
A) Settling the transaction.
B) Negotiating the purchase contract.
C) Financing the purchase.
D) Listing the property. - Answer-A) Settling the transaction.
A real estate salesperson works on behalf of a licensed real estate broker to perform
any of the following duties associated with real estate transactions except?
A) List property
B) Sell property
C) Lease property
D) Collect commissions - Answer-D) Collect commissions
,An___________ real estate broker is a licensed real estate broker who chooses to work
under the name and supervision of a licensed real estate broker.
A) associate
B) administrative
C) executive
D) affiliate - Answer-A) associate
Which of the following is NOT one of the real estate broker license types?
A) Salesperson
B) Trade name broker
C) Partnership broker
D) Corporate broker - Answer-A) Salesperson
From whom can a salesperson receive compensation?
A) From any broker he or she works for
B) From a broker or client
C) From his or her sponsoring broker only
D) From the broker or another licensee in the same firm - Answer-C) From his or her
sponsoring broker only
How many members does the Governor appoint to the Board of Real Estate?
A) 5 brokers and no public members
B) 4 brokers and 3 public members
C) 3 brokers and 4 public members
D) 1 broker and 1 public member - Answer-C) 3 brokers and 4 public members
In New York the real estate examinee must correctly answer at least ______percent of
the questions to pass the exam.
A) 70
B) 75
C) 80
D) 90 - Answer-A) 70
For what are members of the Board compensated?
A) Their time
B) Their expertise
C) Contractual terms
D) Expense reimbursements - Answer-D) Expense reimbursements
,Members of the Board receive no compensation for their service but are reimbursed for
actual and necessary expenses.
Who is authorized to prescribe the content of real estate courses?
A) NYS Board of Real Estate members
B) The NYS Governor
C) The Department of State
D) The Secretary of State - Answer-A) NYS Board of Real Estate members
Which penalty is not imposed by the DOS on a real estate broker for engaging in fraud?
A) License revocation
B) Fine
C) Imprisonment
D) Reprimand - Answer-C) Imprisonment
How many hours of education is a broker candidate required to complete in addition to
those required for a salesperson's license?
A) 77 hours
B) 55 hours
C) 100 hours
D) 120 hours - Answer-A) 77 hours
To qualify as a NYS licensed real estate broker, the candidate must complete 152 hours
of approved education, the 77-hour salesperson's course plus an additional 75 hours of
broker education.
A real estate transaction can be described as having four stages, including all of the
following except?
A) Settling the transaction.
B) Administering and enforcing the provisions of Article 78-A.
C) Listing the property.
D) Negotiating the purchase contract. - Answer-B) Administering and enforcing the
provisions of Article 78-A.
How many points are given for 3 years of certain types of real estate activities?
A) 1,000
B) 3,500
C) 5,250
D) 7,625 - Answer-C) 5,250
, A certain number of points is given for certain types of real estate activities, with 3,500
points given for 2 years of full-time experience and 5,250 points given for 3 years of
experience.
In order to become a licensed broker in New York, a candidate must be at
least____years of age.
A) 18
B) 21
C) 20
D) 16 - Answer-C) 20
A candidate must be at least 20 years old to become a licensed broker in New York.
Which of the following is a requirement for becoming a licensed real estate broker in
NY?
A) Be at least 21 years old
B) No misdemeanor convictions
C) Demonstrate fair knowledge of the English language
D) Be a US citizen - Answer-C) Demonstrate fair knowledge of the English language
Passed exam results are only valid for a period of ____ years.
A) two
B) three
C) four
D) five - Answer-A) two
Those who are exempt from needing a license include all of the following except?
A) An owner selling his or her own property.
B) A landlord renting his or her own property.
C) A person selling property for a friend or associate if the fee charged is under $1000.
D) An attorney performing his or her duties as an attorney. - Answer-C) A person selling
property for a friend or associate if the fee charged is under $1000.
The Salesperson Exam is a written exam in a multiple-choice format and contains
______ questions.
A) 100
B) 50
C) 75
D) 90 - Answer-C) 75
A salesperson exam is a written exam which consists of 75 multiple-choice questions.
QUESTIONS WITH VERIFIED ANSWERS
How will an examinee know what percent of the exam questions he or she answered
correctly?
A) The percentage score will be mailed to the examinee within 15 days of the exam.
B) The percentage score will available online only for those examinees who fail the
exam.
C) The percentage score is not given to the examinee.
D) The percentage score will be mailed to the examinee for a $25 fee. - Answer-C) The
percentage score is not given to the examinee.
Examination results are reported as either passed or failed with the numeric percentage
score not given to the examinee.
A real estate transaction has four stages. Which of the following is NOT one of those
stages?
A) Listing the property
B) Marketing the property
C) Negotiating the purchase contract
D) Settling the transaction - Answer-B) Marketing the property
The four stages of a real estate transaction include listing the property, negotiating the
purchase contract, financing the purchase, and settling the transaction.
The final step of the real estate transaction when the buyer gets the deed to the
property, the seller gets the proceeds from the sale, and the broker gets his or her
commission is called?
A) Settling the transaction.
B) Negotiating the purchase contract.
C) Financing the purchase.
D) Listing the property. - Answer-A) Settling the transaction.
A real estate salesperson works on behalf of a licensed real estate broker to perform
any of the following duties associated with real estate transactions except?
A) List property
B) Sell property
C) Lease property
D) Collect commissions - Answer-D) Collect commissions
,An___________ real estate broker is a licensed real estate broker who chooses to work
under the name and supervision of a licensed real estate broker.
A) associate
B) administrative
C) executive
D) affiliate - Answer-A) associate
Which of the following is NOT one of the real estate broker license types?
A) Salesperson
B) Trade name broker
C) Partnership broker
D) Corporate broker - Answer-A) Salesperson
From whom can a salesperson receive compensation?
A) From any broker he or she works for
B) From a broker or client
C) From his or her sponsoring broker only
D) From the broker or another licensee in the same firm - Answer-C) From his or her
sponsoring broker only
How many members does the Governor appoint to the Board of Real Estate?
A) 5 brokers and no public members
B) 4 brokers and 3 public members
C) 3 brokers and 4 public members
D) 1 broker and 1 public member - Answer-C) 3 brokers and 4 public members
In New York the real estate examinee must correctly answer at least ______percent of
the questions to pass the exam.
A) 70
B) 75
C) 80
D) 90 - Answer-A) 70
For what are members of the Board compensated?
A) Their time
B) Their expertise
C) Contractual terms
D) Expense reimbursements - Answer-D) Expense reimbursements
,Members of the Board receive no compensation for their service but are reimbursed for
actual and necessary expenses.
Who is authorized to prescribe the content of real estate courses?
A) NYS Board of Real Estate members
B) The NYS Governor
C) The Department of State
D) The Secretary of State - Answer-A) NYS Board of Real Estate members
Which penalty is not imposed by the DOS on a real estate broker for engaging in fraud?
A) License revocation
B) Fine
C) Imprisonment
D) Reprimand - Answer-C) Imprisonment
How many hours of education is a broker candidate required to complete in addition to
those required for a salesperson's license?
A) 77 hours
B) 55 hours
C) 100 hours
D) 120 hours - Answer-A) 77 hours
To qualify as a NYS licensed real estate broker, the candidate must complete 152 hours
of approved education, the 77-hour salesperson's course plus an additional 75 hours of
broker education.
A real estate transaction can be described as having four stages, including all of the
following except?
A) Settling the transaction.
B) Administering and enforcing the provisions of Article 78-A.
C) Listing the property.
D) Negotiating the purchase contract. - Answer-B) Administering and enforcing the
provisions of Article 78-A.
How many points are given for 3 years of certain types of real estate activities?
A) 1,000
B) 3,500
C) 5,250
D) 7,625 - Answer-C) 5,250
, A certain number of points is given for certain types of real estate activities, with 3,500
points given for 2 years of full-time experience and 5,250 points given for 3 years of
experience.
In order to become a licensed broker in New York, a candidate must be at
least____years of age.
A) 18
B) 21
C) 20
D) 16 - Answer-C) 20
A candidate must be at least 20 years old to become a licensed broker in New York.
Which of the following is a requirement for becoming a licensed real estate broker in
NY?
A) Be at least 21 years old
B) No misdemeanor convictions
C) Demonstrate fair knowledge of the English language
D) Be a US citizen - Answer-C) Demonstrate fair knowledge of the English language
Passed exam results are only valid for a period of ____ years.
A) two
B) three
C) four
D) five - Answer-A) two
Those who are exempt from needing a license include all of the following except?
A) An owner selling his or her own property.
B) A landlord renting his or her own property.
C) A person selling property for a friend or associate if the fee charged is under $1000.
D) An attorney performing his or her duties as an attorney. - Answer-C) A person selling
property for a friend or associate if the fee charged is under $1000.
The Salesperson Exam is a written exam in a multiple-choice format and contains
______ questions.
A) 100
B) 50
C) 75
D) 90 - Answer-C) 75
A salesperson exam is a written exam which consists of 75 multiple-choice questions.
