REAL ESTATE FINAL EXAM QUESTIONS AND ANSWERS |LATEST UPDATE 2025/2026|GRADED A+|VERIFIED

REAL ESTATE FINAL EXAM QUESTIONS AND
ANSWERS |LATEST UPDATE 2025/2026|GRADED
A+|VERIFIED
Article 12-A of the NYS Real Property Law -
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B ANSWER The section of the New York Real Property Law
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pertaining to real estate salespersons and brokers.
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- Primary purpose is to "Protect the Public"
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- Requires a salesperson to be at least 18 years of age
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- Requires a broker to be at least 20 years of age
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Sponsor - ANSWER B B A licensed real estate broker that holds the license of a salesperson.
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"Summary of Your Submission" - B B B B



B ANSWER Obtained after your register for the New York State
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Salesperson exam using eAccessNY. You must bring this with
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you when taking the State exam.
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Misdemeanor - B



B ANSWER A crime punishable by up to a year in prison and/or a $1,000 fine.
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Listing Agreement -
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B ANSWER An employment contract between principal and agent, authorizing the
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agent to perform services for the principle involving the latter's property.
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Pocket Card - B B



B ANSWER A card issued by the Department of State to each licensee which contains the
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photo, name and business address of the licensee, and, in the case of a real estate
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salesperson, the name and business address of the broker with whom he or she is associated
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and shall certify that the person whose name appears thereon is a licensed real estate broker
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or

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Wicky

, salesperson.

- Must be carried by the agent at all times when serving as a salesperson.
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Fiduciary - B



B ANSWER A person who on behalf of or for the benefit of another transacts business or
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handles money or property not the person's own; such relationship implies great confidence a
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nd

trust.



OLD CAR - ANSWER
B B B - Obedience
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- Loyalty
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- Disclosure
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- Confidentiality
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- Accountability
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- Reasonable Care
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Disclosure Regarding Real Estate Agency Relationships Form -
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B ANSWER A written explanation, to
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be signed by a prospective buyer or seller of real estate, explaining to the client the role that t
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he

broker plays in the transaction.
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- First document to be submitted to all prospective clients
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Exclusive Agency - B B



B ANSWER An agreement of employment of a broker to the exclusion of all other
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brokers; if sale is made by any other broker during term of employment, broker holding
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exclusive agency is entitled to commissions in addition to the commissions payable to the
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broker who effected the transaction
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- Made between a broker and a seller
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Wicky