New York Real Estate Broker License
Examination Practice Questions And
Correct Answers (Verified Answers) Plus
Rationales 2025|2026 Q&A | Instant
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1. What is the maximum fine the Department of State may impose on a
broker for a violation of license law?
A. $250
B. $500
C. $1,000
D. $2,500
The Department of State may fine up to $1,000 for each violation.
2. How many members are on the New York State Board of Real Estate?
A. 5
B. 13
, C. 15
D. 11
The Board of Real Estate has 13 members to oversee licensing and
standards.
3. Which document creates the agency relationship between a broker
and a seller?
A. Sales contract
B. Listing agreement
C. Deed
D. Mortgage note
The listing agreement establishes agency between broker and seller.
4. What type of listing is illegal in New York?
A. Exclusive right to sell
B. Exclusive agency
C. Net listing
D. Open listing
Net listings are illegal in New York because they can create conflicts
of interest.
5. What is the purpose of a comparative market analysis (CMA)?
A. Set property tax
B. Appraise value for loan
C. Estimate probable selling price
, D. Determine replacement cost
A CMA helps sellers estimate market value but is not an appraisal.
6. Who must sign a deed to make it valid?
A. Grantor and grantee
B. Grantor
C. Grantee
D. Broker
Only the grantor’s signature is required for validity; grantee
acceptance is implied.
7. Which lien has highest priority in New York?
A. Mortgage lien
B. Judgment lien
C. Real estate tax lien
D. Mechanic’s lien
Real estate tax liens are always superior to other liens.
8. How often must a broker renew their license?
A. Every year
B. Every two years
C. Every two years
D. Every three years
Broker licenses are renewed every two years.
9. What is the minimum age to qualify as a New York real estate broker?
A. 18
Examination Practice Questions And
Correct Answers (Verified Answers) Plus
Rationales 2025|2026 Q&A | Instant
Download Pdf
1. What is the maximum fine the Department of State may impose on a
broker for a violation of license law?
A. $250
B. $500
C. $1,000
D. $2,500
The Department of State may fine up to $1,000 for each violation.
2. How many members are on the New York State Board of Real Estate?
A. 5
B. 13
, C. 15
D. 11
The Board of Real Estate has 13 members to oversee licensing and
standards.
3. Which document creates the agency relationship between a broker
and a seller?
A. Sales contract
B. Listing agreement
C. Deed
D. Mortgage note
The listing agreement establishes agency between broker and seller.
4. What type of listing is illegal in New York?
A. Exclusive right to sell
B. Exclusive agency
C. Net listing
D. Open listing
Net listings are illegal in New York because they can create conflicts
of interest.
5. What is the purpose of a comparative market analysis (CMA)?
A. Set property tax
B. Appraise value for loan
C. Estimate probable selling price
, D. Determine replacement cost
A CMA helps sellers estimate market value but is not an appraisal.
6. Who must sign a deed to make it valid?
A. Grantor and grantee
B. Grantor
C. Grantee
D. Broker
Only the grantor’s signature is required for validity; grantee
acceptance is implied.
7. Which lien has highest priority in New York?
A. Mortgage lien
B. Judgment lien
C. Real estate tax lien
D. Mechanic’s lien
Real estate tax liens are always superior to other liens.
8. How often must a broker renew their license?
A. Every year
B. Every two years
C. Every two years
D. Every three years
Broker licenses are renewed every two years.
9. What is the minimum age to qualify as a New York real estate broker?
A. 18
