REVIEW QUESTIONS FOR NY REAL ESTATE EXAM /
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS / 2025-2026
Terms in this set (101)
1-A broker legitimately may -B: Salesperson can accept compensation only from their
pay all or part of Real estate sponsoring broker.
commission to a a. seller
b. salesperson
c. buyer
d. friend who provides
alisting lead
2-The minimum age for a C. As of July 1,2008 to become a broker you must be 20
New York real estate years old.
broker's license is a. 19.
b. 18.
c. 20.
d. 21.
C: selling land at an auction.
3-Which of the following acts
would require a real estate
license in New York a. Sale of
one's own property
b. Sale by the
owner'slawyer
c. Sale of land by
anauctioneer
d. Foreclosure sale
bycourt order
,4-An associate broker may D: Associate broker is a licensed broker but chooses to work
under the supervision of another broker.
a. sponsor a person for
asalesperson's license.
b. collect his or her
ownreal estate fees.
c. act as a principal
brokerfor another broker.
d. Work as a
salespersonfor a principal
broker
5-Violation of the license law C: DOS may impose a fine not to exceed $1000.
is a misdemeanor, Punishable
by up to a year in jail and a
fine of
Up to
a. $500.
b. $2,000.
c. $1,000.
d. $1,500.
B: When a licensee terminates with a broker they must turn
6-When salesperson Tom
over all information.
Jones left ABC Realty And
went to work with XYZ
REALTORS,
Tom's listings
a. became null and void.
b. Remained with
ABCRealty.
c. Went with him to
XYZREALTORS.
d. Required the
sellers'signatures to remain
in the local MLS.
,A salesperson's license must C: Kept by the broker in a safe place.
be
a. displayed on the
firm'swall.
b. kept in the
salesperson'swallet
c. retained by the
principalbroker.
d. d. sent to the local
REALTORS association.
8-When does offering a -D: selling a business where the real estate is greater than the
client's business for sale business.
Require a real estate license?
a. Never
b. Always
c. When the
businessincludes any real
estate d. When more than
half the value is real estate
An apartment information C: Department of State licenses apartment information
vendors....
vendor is licensed by:
a. Department of Law
b. New York Attorney
General's office
c. Department of State
d. Division of Housing and
Community Rental
, When a license is revoked, B: If a license is revoke licensee must wait 1 year before
how long must a licensee reapplying..
wait before applying to have
the license reinstated?
a. 18 months
b. 1 year
c. 6 months
d. 2 years
The form of listing B: In an Open listing the seller allows the property to be
whereby an owner lists shown by many Brokers.
property for sale with a
number of brokers is
known as a(n)
a. Exclusive agency.
b. Open listing.
c. Exclusive right to sell.
d. Net listing.
B: By accepting subagency the owner will have no vicarious
To avoid possible liability for liability for the Acts of cooperating agents
the actions of c cooperating
members of a multiple-listing
system, the owner who lists
property for sale may decline
to offer
a. commission to
theselling agent.
b. Subagency.
c. Cooperation with
buyerbrokers.
d. A written disclosure
ofproperty condition.
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS / 2025-2026
Terms in this set (101)
1-A broker legitimately may -B: Salesperson can accept compensation only from their
pay all or part of Real estate sponsoring broker.
commission to a a. seller
b. salesperson
c. buyer
d. friend who provides
alisting lead
2-The minimum age for a C. As of July 1,2008 to become a broker you must be 20
New York real estate years old.
broker's license is a. 19.
b. 18.
c. 20.
d. 21.
C: selling land at an auction.
3-Which of the following acts
would require a real estate
license in New York a. Sale of
one's own property
b. Sale by the
owner'slawyer
c. Sale of land by
anauctioneer
d. Foreclosure sale
bycourt order
,4-An associate broker may D: Associate broker is a licensed broker but chooses to work
under the supervision of another broker.
a. sponsor a person for
asalesperson's license.
b. collect his or her
ownreal estate fees.
c. act as a principal
brokerfor another broker.
d. Work as a
salespersonfor a principal
broker
5-Violation of the license law C: DOS may impose a fine not to exceed $1000.
is a misdemeanor, Punishable
by up to a year in jail and a
fine of
Up to
a. $500.
b. $2,000.
c. $1,000.
d. $1,500.
B: When a licensee terminates with a broker they must turn
6-When salesperson Tom
over all information.
Jones left ABC Realty And
went to work with XYZ
REALTORS,
Tom's listings
a. became null and void.
b. Remained with
ABCRealty.
c. Went with him to
XYZREALTORS.
d. Required the
sellers'signatures to remain
in the local MLS.
,A salesperson's license must C: Kept by the broker in a safe place.
be
a. displayed on the
firm'swall.
b. kept in the
salesperson'swallet
c. retained by the
principalbroker.
d. d. sent to the local
REALTORS association.
8-When does offering a -D: selling a business where the real estate is greater than the
client's business for sale business.
Require a real estate license?
a. Never
b. Always
c. When the
businessincludes any real
estate d. When more than
half the value is real estate
An apartment information C: Department of State licenses apartment information
vendors....
vendor is licensed by:
a. Department of Law
b. New York Attorney
General's office
c. Department of State
d. Division of Housing and
Community Rental
, When a license is revoked, B: If a license is revoke licensee must wait 1 year before
how long must a licensee reapplying..
wait before applying to have
the license reinstated?
a. 18 months
b. 1 year
c. 6 months
d. 2 years
The form of listing B: In an Open listing the seller allows the property to be
whereby an owner lists shown by many Brokers.
property for sale with a
number of brokers is
known as a(n)
a. Exclusive agency.
b. Open listing.
c. Exclusive right to sell.
d. Net listing.
B: By accepting subagency the owner will have no vicarious
To avoid possible liability for liability for the Acts of cooperating agents
the actions of c cooperating
members of a multiple-listing
system, the owner who lists
property for sale may decline
to offer
a. commission to
theselling agent.
b. Subagency.
c. Cooperation with
buyerbrokers.
d. A written disclosure
ofproperty condition.
