REAL ESTATE U FINAL EXAM STUDY GUIDE|QUESTIONS AND
ANSWERS | RECENTLY TESTED | EXPERT VERIFIED |
GUARANTEED PASS | GRADED A | LATEST UPDATE |
2025\2026
1. Article 12-A of the NYS Real Property Law: The section of the New York Real Property Law
pertaining to real estate salespersons and brokers.
- Primary purpose is to "Protect the Public"
- Requires a salesperson to be at least 18 years of age
- Requires a broker to be at least 20 years of age
2. Sponsor: A licensed real estate broker that holds the license of a salesperson.
3. "Summary of Your Submission": Obtained after your register for the New York State
Salesperson exam using eAccessNY. You must bring this with
you when taking the State exam.
4. Misdemeanor: A crime punishable by up to a year in prison and/or a $1,000 fine.
5. Listing Agreement: An employment contract between principal and agent, authorizing the
agent to perform services for the principle involving the latter's property.
6. Pocket Card: A card issued by the Department of State to each licensee which contains the
photo, name and business address of the licensee, and, in the case of a real estate
salesperson, the name and business address of the broker with whom he or she is associated
and shall certify that the person whose name appears thereon is a licensed real estate broker or
https://www.stuvia.com/user/MBOFFIN 1/
15
, salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
7. Fiduciary: A person who on behalf of or for the benefit of another transacts business or
handles money or property not the person's own; such relationship implies great confidence and
trust.
8. OLD CAR: - Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
9. Disclosure Regarding Real Estate Agency Relationships Form: A written explanation,
to
be signed by a prospective buyer or seller of real estate, explaining to the client the role that the
broker plays in the transaction.
- First document to be submitted to all prospective clients
https://www.stuvia.com/user/MBOFFIN 2/
15
ANSWERS | RECENTLY TESTED | EXPERT VERIFIED |
GUARANTEED PASS | GRADED A | LATEST UPDATE |
2025\2026
1. Article 12-A of the NYS Real Property Law: The section of the New York Real Property Law
pertaining to real estate salespersons and brokers.
- Primary purpose is to "Protect the Public"
- Requires a salesperson to be at least 18 years of age
- Requires a broker to be at least 20 years of age
2. Sponsor: A licensed real estate broker that holds the license of a salesperson.
3. "Summary of Your Submission": Obtained after your register for the New York State
Salesperson exam using eAccessNY. You must bring this with
you when taking the State exam.
4. Misdemeanor: A crime punishable by up to a year in prison and/or a $1,000 fine.
5. Listing Agreement: An employment contract between principal and agent, authorizing the
agent to perform services for the principle involving the latter's property.
6. Pocket Card: A card issued by the Department of State to each licensee which contains the
photo, name and business address of the licensee, and, in the case of a real estate
salesperson, the name and business address of the broker with whom he or she is associated
and shall certify that the person whose name appears thereon is a licensed real estate broker or
https://www.stuvia.com/user/MBOFFIN 1/
15
, salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
7. Fiduciary: A person who on behalf of or for the benefit of another transacts business or
handles money or property not the person's own; such relationship implies great confidence and
trust.
8. OLD CAR: - Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
9. Disclosure Regarding Real Estate Agency Relationships Form: A written explanation,
to
be signed by a prospective buyer or seller of real estate, explaining to the client the role that the
broker plays in the transaction.
- First document to be submitted to all prospective clients
https://www.stuvia.com/user/MBOFFIN 2/
15
