NY REAL ESTATE TEST BANK 2026 QUESTIONS
WITH SOLUTIONS GRADED A+
◉ The minimum age for a New York real estate broker's license is.
Answer: 20
◉ Which of the following acts would require a real estate license in New
York. Answer: Sale of land by an auctioneer
◉ Violation of the license law is a misdemeanor, Punishable by up to a
year in jail and a fine of. Answer: $1,000
◉ When salesperson Tom Jones left ABC Realty and went to work with
XYZ REALTORS, Tom's listings. Answer: Remained with ABC Realty.
◉ A salesperson's license must be. Answer: retained by the principal
broker
◉ When does offering a client's business for sale Require a real estate
license?. Answer: When more then half the value is real estate
,◉ An apartment information vendor is licensed by:. Answer:
Department of State
◉ When a license is revoked how long must a licensee wait before
applying to have the license reinstated?. Answer: 1 year
◉ The form of listing whereby an owner lists property for sale with a
number of brokers is known as a(n). Answer: Open listing.
◉ To avoid possible liability for the actions of c cooperating members of
a multiple listing system the owner who lists property for sale may
decline to offer. Answer: Subagency.
◉ An agent who has the authority to represent the principal in specific
matters is a(n):. Answer: general agent
◉ An agent who has the authority to represent the principal in specific
matters is. Answer: a(n) general agent
◉ Jan Lipson gave Sun City Realty an exclusive agency listing on her
property. If she sells the Property herself without involving Sun City She
will owe Sun City. Answer: No commission.
, ◉ When selling a property in New York the Licensee is required to
disclose to a potential Buyer that. Answer: The property lies in an
agricultural district.
◉ The commission to be paid in a written listing Agreement is the rate
set by law. Answer: Percentage of the sales price as negotiated and
agreed or a flat fee.
◉ The relationship between an agent and his or her. Answer: Fiduciary.
◉ If you are selling a house in New York it is necessary to disclose that.
Answer: There is a utility surcharge.
◉ Seller is legally required to reveal to a buyer anything seller knows
about. Answer: Lead paint hazards on the property.
◉ To create an agency relationship it is necessary that. Answer: The
principal and agent sign a written agreement.
◉ If you are a salesperson working with a buyer then the buyer is your
client. Answer: if you have an agency contract with the buyer
◉ The type of listing illegal in New York State is a (n). Answer: Net
listing.
WITH SOLUTIONS GRADED A+
◉ The minimum age for a New York real estate broker's license is.
Answer: 20
◉ Which of the following acts would require a real estate license in New
York. Answer: Sale of land by an auctioneer
◉ Violation of the license law is a misdemeanor, Punishable by up to a
year in jail and a fine of. Answer: $1,000
◉ When salesperson Tom Jones left ABC Realty and went to work with
XYZ REALTORS, Tom's listings. Answer: Remained with ABC Realty.
◉ A salesperson's license must be. Answer: retained by the principal
broker
◉ When does offering a client's business for sale Require a real estate
license?. Answer: When more then half the value is real estate
,◉ An apartment information vendor is licensed by:. Answer:
Department of State
◉ When a license is revoked how long must a licensee wait before
applying to have the license reinstated?. Answer: 1 year
◉ The form of listing whereby an owner lists property for sale with a
number of brokers is known as a(n). Answer: Open listing.
◉ To avoid possible liability for the actions of c cooperating members of
a multiple listing system the owner who lists property for sale may
decline to offer. Answer: Subagency.
◉ An agent who has the authority to represent the principal in specific
matters is a(n):. Answer: general agent
◉ An agent who has the authority to represent the principal in specific
matters is. Answer: a(n) general agent
◉ Jan Lipson gave Sun City Realty an exclusive agency listing on her
property. If she sells the Property herself without involving Sun City She
will owe Sun City. Answer: No commission.
, ◉ When selling a property in New York the Licensee is required to
disclose to a potential Buyer that. Answer: The property lies in an
agricultural district.
◉ The commission to be paid in a written listing Agreement is the rate
set by law. Answer: Percentage of the sales price as negotiated and
agreed or a flat fee.
◉ The relationship between an agent and his or her. Answer: Fiduciary.
◉ If you are selling a house in New York it is necessary to disclose that.
Answer: There is a utility surcharge.
◉ Seller is legally required to reveal to a buyer anything seller knows
about. Answer: Lead paint hazards on the property.
◉ To create an agency relationship it is necessary that. Answer: The
principal and agent sign a written agreement.
◉ If you are a salesperson working with a buyer then the buyer is your
client. Answer: if you have an agency contract with the buyer
◉ The type of listing illegal in New York State is a (n). Answer: Net
listing.
