Real Estate U Pass the NY State Exam Ques ons and
answers RATED A+ 2025/2026 NEW!! 100% VERIFIED
CORRECT
The Department of State - Correct Answers - Primarily responsible for issuing real estate
licenses, pocket cards, and handing down disciplinary ac on
- Provides adver sing guidelines for brokers
Ar cle 12-A of the NYS Real Property Law - Correct Answers Outlines the roles/du es of the
Department of State
Commissions - Correct Answers - Commissions are paid by the client (buyer or seller
depending on the transac on) to the brokers involved in the transac on.
- A typical commission in New York is 6%.
- Commissions are always nego able, and are determined by both the client and broker.
Blind Ad - Correct Answers An ad that remains anonymous as to who is adver sing is known
as a Blind Ad. Blind ads are illegal.
175.25 of Ar cle 12-A of the NY Real Property Law - Correct Answers " All adver sements
placed by a broker must indicate that the adver ser is a broker or give the name of the broker
and his telephone number.
All adver sements placed by a broker which state that property is in the vicinity of a
geographical area or territorial subdivision must indicate as part of such adver sement the
name of the geographical area or territorial subdivision in which such property is actually
located."
, Suspensions - Correct Answers The revoca on or suspension of a broker's license suspends
the license of the salespersons and associate brokers affiliated with the broker.
OLDCAR - Correct Answers Obedience - Agent must act in accordance to clients
demands/instruc ons
Loyalty - Agent must work in the best interest of his client
Disclosure of Informa on - Agent must communicate with client / must present all offers
Confiden ality - All confiden al informa on as described by client must remain so unless given
permission in wri ng.
Accountability - One of the more serious fiduciary responsibili es.
Reasonable Care and Duty to Account - Agent may be liable for costly mistakes.
Agency Disclosure Form - Correct Answers - A wri8en explana on, to be signed by a
prospec ve buyer or seller of real estate, explaining to the client the role that the broker plays
in the transac on.
- The Agency Disclosure Form is signed at the first substan ve contact.
- Outlines the agent's du es to the client
- Explains that an agent owes a fiduciary duty to the client
- Allows for advance consent to dual agency
The Property Condi on Disclosure Act - Correct Answers - Requires the seller to submit to the
buyer, a 'Property Condi on Disclosure Statement, prior to signing the contract of sale. If the
statement is not signed, the buyer shall receive a $500 credit against the purchase price of the
property.
- Most seller a8orneys advise their clients NOT to sign the statement, as it opens them up to a
vast amount of liability.
, Undisclosed Dual Agency - Correct Answers - A rela onship in which the real estate agent is
found to be the agent of both the buyer and seller in a transac on, but without the knowledge
and informed consent of both par es.
- Undisclosed Dual Agency is illegal in New York State.
- Instead, the agent should no fy both par es and have them sign the Agency Disclosure form,
which states that the agent is ac ng as a dual agent. This is known as Advance Consent to Dual
Agency.
General Agent - Correct Answers Someone authorized to transact every kind of business for
the principal.
Example: Property Manager
Special Agent - Correct Answers An agent with limited authority to act on behalf of the
principal, such as created by a lis ng.
Example: Real Estate Agent / Real Estate Broker
Exclusive Right to Sell - Correct Answers An agreement of employment by a broker under
which the exclusive right to sell for a specified period is granted to the broker; if a sale during
the term of the agreement is made by the owner or by any other broker, the broker holding
such exclusive right to sell is nevertheless en tled to compensa on.
Principal or Client - Correct Answers The buyer and/or seller
Agent - Correct Answers The salesperson or broker
Salesperson / Broker Rela onships - Correct Answers - Real Estate Salespersons/Agents DO
NOT collect money or commissions.
- Any commissions earned are paid to the salesperson's broker, who in turn, pays the
salesperson his por on of the commission.
answers RATED A+ 2025/2026 NEW!! 100% VERIFIED
CORRECT
The Department of State - Correct Answers - Primarily responsible for issuing real estate
licenses, pocket cards, and handing down disciplinary ac on
- Provides adver sing guidelines for brokers
Ar cle 12-A of the NYS Real Property Law - Correct Answers Outlines the roles/du es of the
Department of State
Commissions - Correct Answers - Commissions are paid by the client (buyer or seller
depending on the transac on) to the brokers involved in the transac on.
- A typical commission in New York is 6%.
- Commissions are always nego able, and are determined by both the client and broker.
Blind Ad - Correct Answers An ad that remains anonymous as to who is adver sing is known
as a Blind Ad. Blind ads are illegal.
175.25 of Ar cle 12-A of the NY Real Property Law - Correct Answers " All adver sements
placed by a broker must indicate that the adver ser is a broker or give the name of the broker
and his telephone number.
All adver sements placed by a broker which state that property is in the vicinity of a
geographical area or territorial subdivision must indicate as part of such adver sement the
name of the geographical area or territorial subdivision in which such property is actually
located."
, Suspensions - Correct Answers The revoca on or suspension of a broker's license suspends
the license of the salespersons and associate brokers affiliated with the broker.
OLDCAR - Correct Answers Obedience - Agent must act in accordance to clients
demands/instruc ons
Loyalty - Agent must work in the best interest of his client
Disclosure of Informa on - Agent must communicate with client / must present all offers
Confiden ality - All confiden al informa on as described by client must remain so unless given
permission in wri ng.
Accountability - One of the more serious fiduciary responsibili es.
Reasonable Care and Duty to Account - Agent may be liable for costly mistakes.
Agency Disclosure Form - Correct Answers - A wri8en explana on, to be signed by a
prospec ve buyer or seller of real estate, explaining to the client the role that the broker plays
in the transac on.
- The Agency Disclosure Form is signed at the first substan ve contact.
- Outlines the agent's du es to the client
- Explains that an agent owes a fiduciary duty to the client
- Allows for advance consent to dual agency
The Property Condi on Disclosure Act - Correct Answers - Requires the seller to submit to the
buyer, a 'Property Condi on Disclosure Statement, prior to signing the contract of sale. If the
statement is not signed, the buyer shall receive a $500 credit against the purchase price of the
property.
- Most seller a8orneys advise their clients NOT to sign the statement, as it opens them up to a
vast amount of liability.
, Undisclosed Dual Agency - Correct Answers - A rela onship in which the real estate agent is
found to be the agent of both the buyer and seller in a transac on, but without the knowledge
and informed consent of both par es.
- Undisclosed Dual Agency is illegal in New York State.
- Instead, the agent should no fy both par es and have them sign the Agency Disclosure form,
which states that the agent is ac ng as a dual agent. This is known as Advance Consent to Dual
Agency.
General Agent - Correct Answers Someone authorized to transact every kind of business for
the principal.
Example: Property Manager
Special Agent - Correct Answers An agent with limited authority to act on behalf of the
principal, such as created by a lis ng.
Example: Real Estate Agent / Real Estate Broker
Exclusive Right to Sell - Correct Answers An agreement of employment by a broker under
which the exclusive right to sell for a specified period is granted to the broker; if a sale during
the term of the agreement is made by the owner or by any other broker, the broker holding
such exclusive right to sell is nevertheless en tled to compensa on.
Principal or Client - Correct Answers The buyer and/or seller
Agent - Correct Answers The salesperson or broker
Salesperson / Broker Rela onships - Correct Answers - Real Estate Salespersons/Agents DO
NOT collect money or commissions.
- Any commissions earned are paid to the salesperson's broker, who in turn, pays the
salesperson his por on of the commission.
