Real Estate U Final Exam 2026 Questions
and Answers
Article 12-A of the NYS Real Property Law - Correct answer-- 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
Sponsor - Correct answer-- A licensed real estate broker that holds the license of a
salesperson.
"Summary of Your Submission" - Correct answer-- Obtained after you register for
the New York State
Salesperson exam using eAccessNY. You must bring your "Summary of Your
Submission" with
you when taking the State exam.
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,Misdemeanor - Correct answer-- A crime punishable by up to a year in prison
and/or a $1,000 fine.
Listing Agreement - Correct answer-- An employment contract between principal
and agent, authorizing the
agent to perform services for the principle involving the latter's property
Pocket Card - Correct answer-- 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
salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
Fiduciary - Correct 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 and
trust.
OLD CAR - Correct answer-- Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
Obedience - Correct answer-- Agent must act in accordance to clients
demands/instructions.
Loyalty - Correct answer-- Agent must work in the best interest of the client.
Disclosure of Information - Correct answer-- Agent must communicate with
client/must present all offers.
Confidentiality - Correct answer-- All confidential information as described by
client must remain so unless given permission in writing.
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, Accountability - Correct answer-- One of the more serious fiduciary
responsibilities.
Reasonable Care - Correct answer-- Agent may be liable for costly mistakes.
Disclosure Regarding Real Estate Agency Relationships Form - Correct answer-- 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
Exclusive Agency - Correct answer-- An agreement of employment of a broker to
the exclusion of all other brokers; if sale is made by any other broker during term
of employment, broker holding
exclusive agency is entitled to commissions in addition to the commissions payable
to the
broker who effected the transaction
- Made between a broker and a seller
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and Answers
Article 12-A of the NYS Real Property Law - Correct answer-- 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
Sponsor - Correct answer-- A licensed real estate broker that holds the license of a
salesperson.
"Summary of Your Submission" - Correct answer-- Obtained after you register for
the New York State
Salesperson exam using eAccessNY. You must bring your "Summary of Your
Submission" with
you when taking the State exam.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,Misdemeanor - Correct answer-- A crime punishable by up to a year in prison
and/or a $1,000 fine.
Listing Agreement - Correct answer-- An employment contract between principal
and agent, authorizing the
agent to perform services for the principle involving the latter's property
Pocket Card - Correct answer-- 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
salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
Fiduciary - Correct answer-- A person who on behalf of or for the benefit of
another transacts business or
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
,handles money or property not the person's own; such relationship implies great
confidence and
trust.
OLD CAR - Correct answer-- Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
Obedience - Correct answer-- Agent must act in accordance to clients
demands/instructions.
Loyalty - Correct answer-- Agent must work in the best interest of the client.
Disclosure of Information - Correct answer-- Agent must communicate with
client/must present all offers.
Confidentiality - Correct answer-- All confidential information as described by
client must remain so unless given permission in writing.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
, Accountability - Correct answer-- One of the more serious fiduciary
responsibilities.
Reasonable Care - Correct answer-- Agent may be liable for costly mistakes.
Disclosure Regarding Real Estate Agency Relationships Form - Correct answer-- 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
Exclusive Agency - Correct answer-- An agreement of employment of a broker to
the exclusion of all other brokers; if sale is made by any other broker during term
of employment, broker holding
exclusive agency is entitled to commissions in addition to the commissions payable
to the
broker who effected the transaction
- Made between a broker and a seller
©COPYRIGHT 2025, ALL RIGHTS RESERVED 4
