REVIEW QUESTIONS FOR NY REAL ESTATE EXAM QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GUARANTEED A+

REVIEW QUESTIONS FOR NY REAL ESTATE
EXAM QUESTIONS AND 100% CORRECT
ANSWERS|LATEST 2025/2026|GUARANTEED A+

1-A broker legitimately may pay all or part of Real estate commission to a
B B B B B B B B B B B B B




a. seller
B




b. salesperson
B




c. buyer
B




d. friend who provides a listing lead - ANSWER
B B B- B B B B B



B: Salesperson can accept compensation only from their sponsoring broker.
B B B B B B B B B




2-The minimum age for a New York real estate broker's license is
B B B B B B B B B B B




a. 19.
B




b. 18.
B




c. 20.
B




d. 21. - ANSWER
B B B C. As of July 1,2008 to become a broker you must be 20 years old.
B B B B B B B B B B B B B B




3-Which of the following acts would require a real estate license in New York
B B B B B B B B B B B B B




a. Sale of one's own property
B B B B B




b. Sale by the owner's lawyer
B B B B B




c. Sale of land by an auctioneer
B B B B B B




d. Foreclosure sale by court order - ANSWER
B B B B B B B C: selling land at an auction.
B B B B B




4-An associate broker may
B B B




a. sponsor a person for a salesperson's license.
B B B B B B B




b. collect his or her own real estate fees.
B B B B B B B B




c. act as a principal broker for another broker.
B B B B B B B B




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Wicky

,d. Work as a salesperson for a principal broker -
B B B B B B B B B



BANSWER D: Associate broker is a licensed broker but chooses to work under the superv
B B B B B B B B B B B B B



ision of another broker.
B B B




5-Violation of the license law is a misdemeanor, Punishable by up to a year in jail and a fine of
B B B B B B B B B B B B B B B B B B B




Up to B




a. $500.
B




b. $2,000.
B




c. $1,000.
B




d. $1,500. - ANSWER
B B B C: DOS may impose a fine not to exceed $1000.
B B B B B B B B B




6-When salesperson Tom Jones left ABC Realty And went to work with XYZ REALTORS,
B B B B B B B B B B B B B




Tom's listings B




a. became null and void.
B B B B




b. Remained with ABC Realty.
B B B B




c. Went with him to XYZ REALTORS.
B B B B B B




d. Required the sellers' signatures to remain in the local MLS. -
B B B B B B B B B B B



ANSWER
B B: When a licensee terminates with a broker they must turn over all informati
B B B B B B B B B B B B B



on.



A salesperson's license must be
B B B B




a. displayed on the firm's wall.
B B B B B




b. kept in the salesperson's wallet
B B B B B




c. retained by the principal broker.
B B B B B




d. d. sent to the local REALTORS association. -
B B B B B B B B



B ANSWER C: Kept by the broker in a safe place.
B B B B B B B B




8-When does offering a client's business for sale Require a real estate license?
B B B B B B B B B B B B




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Wicky

,a. Never
B




b. Always
B




c. When the business includes any real estate
B B B B B B B




d. When more than half the value is real estate - ANSWER
B B B - B B B B B B B B



D: selling a business where the real estate is greater than the business.
B B B B B B B B B B B B




An apartment information vendor is licensed by:
B B B B B B




a. Department of Law
B B B B




b. New York Attorney General's office
B B B B B B




c. Department of State
B B B B




d. Division of Housing and Community Rental -
B B B B B B B



B ANSWER C: Department of State licenses apartment information vendors....
B B B B B B B




When a license is revoked, how long must a licensee wait before applying to have the license r
B B B B B B B B B B B B B B B B B



einstated?

a. 18 months
B B




b. 1 year
B B




c. 6 months
B B




d. 2 years -
B B B



B ANSWER B: If a license is revoke licensee must wait 1 year before reapplying..
B B B B B B B B B B B B




The form of listing whereby an owner lists property for sale with a number of brokers is known
B B B B B B B B B B B B B B B B B



as a(n)
B B




a. Exclusive agency.
B B




b. Open listing.
B B




c. Exclusive right to sell.
B B B B




d. Net listing. -
B B B



BANSWER B: In an Open listing the seller allows the property to be shown by many Broke
B B B B B B B B B B B B B B B



rs.

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Wicky

, To avoid possible liability for the actions of c cooperating members of a multiple-
B B B B B B B B B B B B B



listing system, the owner who lists property for sale may decline to offer
B B B B B B B B B B B B




a. commission to the selling agent.
B B B B B




b. Subagency.
B




c. Cooperation with buyer brokers.
B B B B




d. A written disclosure of property condition. -
B B B B B B B



ANSWER
B B: By accepting subagency the owner will have no vicarious liability for the Act B B B B B B B B B B B B B



s of cooperating agents
B B B




An agent who has the authority to represent the principal in specific matters is a(n):
B B B B B B B B B B B B B B




a. specific agent
B B




b. general agent
B B




c. unlimited agent
B B




d. special agent - ANSWER
B - B B B



B: A general agent has specific authority in representing owners.
B B B B B B B B B




Jan Lipson gave Sun City Realty an exclusive agency listing on her property. If she sells the
B B B B B B B B B B B B B B B B




Property herself without involving Sun City, She will owe Sun City
B B B B B B B B B B




a. Half of the commission.
B B B B




b. All of the commission.
B B B B




c. No commission.
B B




d. Only reimbursement for Sun City's expenses. -
B B B B B B B



B ANSWER C: With the Exclusive Agency the owner owes no commission.
B B B B B B B B B




15-When selling a property in New York, the Licensee is required to disclose to a potential
B B B B B B B B B B B B B B B




Buyer that B




a. There is a group home 1 ½ miles away.
B B B B B B B B B




b. The property lies in an agricultural district.
B B B B B B B




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Wicky