New york real estate Study guides, Class notes & Summaries

What agency issues real estate licenses? NYS DOS, DIVISION OF LICENSING At what age can you become a real estate salesperson? 18 Do you need experience in the field to become a salesperson? No What is the minimum age to become a real estate broker? 20 Do you need experience in the field to become a broker? Yes, 3500 points (35hrs weekly for 100 weeks) If your license is revoked, how long do you have to wait to reapply 1 year As a licensed salesperson, I can receive compensation from ___. ...

New York Real Estate Salesperson Exam Questions and Answers Article 12A: NYS Real Property Law - Answer ️️ -"Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption - Answer ️️ --profit from sale that is taxed - single person has first $250,000 tax free - married couple $500,000 tax free Property ...

1) If a Notary refuses to notarize an affidavit presented for NY notary Mobile services. What is the potential maximum jail sentence? A. One month. B. Three months C. Six months. D. One Year Correct Answer: D. One Year 2) The notary certificate of a witness to the execution of a real estate conveyance is called a: A. Qualified resident. B. Official Character C. Proof certificate D. None of the above Correct Answer: C. Proof certificate 3) Which of the following is in the ...

New York Real Estate Exam Official Study Guide Questions| with Complete Solutions

New York Real Estate Salesperson (REEDC) Exam Questions and Answers as a real estate sales person, i am practicing - Answer ️️ -special agency as a property manager i am practicing - Answer ️️ -general agency in estate planning i am practicing - Answer ️️ -universal agency if its my intention to protect my client,usually the seller,from the vicarious liability, of another licensee, violating the laws of licensure, i should always give out my listings, to other licenses as brok...

Article 12A: NYS Real Property Law "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption -profit from sale that is taxed - single person has first $250,000 tax free - married couple $500,000 tax free Property Condition Disclosure Statement - 6 page statement seller must fill out on condition of property...

The situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low offer because the seller is desperate to sell. The buyer offers $85,000 and the seller accepts it. In this situations: -The broker has violated his agency relationship with the seller -The broker was unethical, ...

New York Real Estate Salesperson Exam Complete Questions And Answers |Verified

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate - a. attorneys admitted to practice in the New York courts 3. To save ...

New York Real Estate Salesperson Exam