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Article 12 A - (ANSWERS)The section of the New York Real Property
Law pertaining to real estate salespersons and brokers
Sponsor - (ANSWERS)A licensed real estate broker that holds the license
of a salesperson
Misdemeanor - (ANSWERS)A crime punishable by up to a year in prison
and / or a $ 1,000 fine .
Listing Agreement - (ANSWERS)An employment contract between
principal and agent , authorizing the agent to perform services for the
principle involving the latter's property
Pocket Card - (ANSWERS)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 .
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Fiduciary - (ANSWERS)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
Disclosure Regarding Real Estate Agency Relationships Form -
(ANSWERS)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 - (ANSWERS)An agreement of employment of a broker
to the exclusion of all other exclusive agency is entitled to commissions in
addition to the commissions payable to the brokers ; if sale is made by any
other broker during term of employment , broker holding broker who
effected the transaction
Principal - (ANSWERS)The employer of an agent or broker ; the broker's
or agent's client .
Price Fixing - (ANSWERS)Conspiring to establish fixed fees or prices for
services or products
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Market Allocation - (ANSWERS)An agreement between members of a
trade to refrain from competition in specific market areas
Independent Contractor Relationship - (ANSWERS)A person that provides
services to another under terms specified in a contract or within a verbal
agreement . The agent does not have to work in a specific location The
broker cannot control the agent's work activities
Bundle of Rights - (ANSWERS)The premise that the ownership of real
estate consists of the ownership of various rights associated with it . These
rights include the right to use and / or occupy , the right to sell in whole or
in part , the right to lease , the right to bequeath and the right to do none of
the foregoing Includes the right to quiet enjoyment
Littoral Rights - (ANSWERS)The right of a property owner whose land
borders on a body of water , such as a lake , ocean or sea to reasonable use
and enjoyment of the shore and water the property borders on .
Riparian Rights - (ANSWERS)The right of a property owner whose land
borders a natural water course such as a river , to reasonable use and
enjoyment of the water that flows past the property . Riparian literally
means " riverbank
Questions | With 100% Correct Answers graded A+ Guaranteed
Success!!
Article 12 A - (ANSWERS)The section of the New York Real Property
Law pertaining to real estate salespersons and brokers
Sponsor - (ANSWERS)A licensed real estate broker that holds the license
of a salesperson
Misdemeanor - (ANSWERS)A crime punishable by up to a year in prison
and / or a $ 1,000 fine .
Listing Agreement - (ANSWERS)An employment contract between
principal and agent , authorizing the agent to perform services for the
principle involving the latter's property
Pocket Card - (ANSWERS)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 .
, NYS Real Estate U Final Exam Newest 2026 Complete
Questions | With 100% Correct Answers graded A+ Guaranteed
Success!!
Fiduciary - (ANSWERS)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
Disclosure Regarding Real Estate Agency Relationships Form -
(ANSWERS)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 - (ANSWERS)An agreement of employment of a broker
to the exclusion of all other exclusive agency is entitled to commissions in
addition to the commissions payable to the brokers ; if sale is made by any
other broker during term of employment , broker holding broker who
effected the transaction
Principal - (ANSWERS)The employer of an agent or broker ; the broker's
or agent's client .
Price Fixing - (ANSWERS)Conspiring to establish fixed fees or prices for
services or products
, NYS Real Estate U Final Exam Newest 2026 Complete
Questions | With 100% Correct Answers graded A+ Guaranteed
Success!!
Market Allocation - (ANSWERS)An agreement between members of a
trade to refrain from competition in specific market areas
Independent Contractor Relationship - (ANSWERS)A person that provides
services to another under terms specified in a contract or within a verbal
agreement . The agent does not have to work in a specific location The
broker cannot control the agent's work activities
Bundle of Rights - (ANSWERS)The premise that the ownership of real
estate consists of the ownership of various rights associated with it . These
rights include the right to use and / or occupy , the right to sell in whole or
in part , the right to lease , the right to bequeath and the right to do none of
the foregoing Includes the right to quiet enjoyment
Littoral Rights - (ANSWERS)The right of a property owner whose land
borders on a body of water , such as a lake , ocean or sea to reasonable use
and enjoyment of the shore and water the property borders on .
Riparian Rights - (ANSWERS)The right of a property owner whose land
borders a natural water course such as a river , to reasonable use and
enjoyment of the water that flows past the property . Riparian literally
means " riverbank
