COLIBRI REAL ESTATE EXAM |160 COMPLETE QUESTIONS WITH
100% RATED EXPERT SOLUTIONS |2026 LATEST UPDATED
During which stage of a real estate transaction must the licensee remember to impart information
to the seller regarding the potential buyer's qualifications and the quality of the offer being
presented? - (answer)During the negotiation stage
Why should real estate licensees have good knowledge of the loan programs that are currently
available from local banks and other lenders? - (answer)Financing is a critical part of the
transaction. Licensees need to stay current on lenders' guidelines so they can qualify both the
buyers and the property.
What is the mission of the Division of Licensing Services? - (answer)To protect the health, safety
and welfare of consumers.
To provide efficient processing and examination services to license applicants.
To provide accurate information and qualified licensees to the business community. The Division
of Licensing issues licenses and enforces the real estate law.
What are the duties of the Secretary of State? - (answer)All licensing, examination, education,
and compliance provisions of Article 12-A.
,The rules of the Board.
The rules of the Secretary of State
How is an associate broker different from a broker? - (answer)An associate broker must meet the
same qualifications as a licensed broker; however, an associate broker chooses to work under the
name and supervision of a licensed real estate broker.
How do licensees collect their commissions? - (answer)A broker can collect commissions from
the clients. However, the licensees working for the broker can only receive commission
payments from their sponsoring broker.
How old must a person be who wishes to become licensed in New York? - (answer)Salespersons
must be 18 years old; brokers must be 20 years old.
How many hours of instruction are required to become licensed in New York? -
(answer)Salespersons are required to complete 77 hours of instruction; brokers must complete
152 hours.
How are exam scores reported, and what percentage is needed to pass the exam? -
(answer)ASAP after the exam as either pass or fail; 70%
,Besides individual and associate broker, name 2 classes of broker licenses available. -
(answer)Trade name broker, corporate broker, partnership broker
What are the experience requirements to become a broker? - (answer)Two full years of
experience as a licensed salesperson and 3,500 points.
Three years of equivalent experience in some other aspect of real estate and 5,250 points, subject
to approval by the Department of State.
Which penalty is not imposed by the DOS on a real estate broker for engaging in fraud?
License revocation
Fine
Imprisonment
Reprimand - (answer)Imprisonment
An___________ real estate broker is a licensed real estate broker who chooses to work under the
name and supervision of a licensed real estate broker. - (answer)Associate
Associate brokers may receive commission payments from
, Seller
Buyer
Cooperating broker
Sponsoring broker - (answer)Sponsoring broker
Passed exam results are only valid for a period of ____ years. - (answer)2
For what are members of the Board compensated?
Their time
Their expertise
Contractual terms
Expense reimbursements - (answer)Expense reimbursements
How much is the fee charged by the DOS for an associate broker license?
$50
$185
$15
No fee is charged - (answer)$185
100% RATED EXPERT SOLUTIONS |2026 LATEST UPDATED
During which stage of a real estate transaction must the licensee remember to impart information
to the seller regarding the potential buyer's qualifications and the quality of the offer being
presented? - (answer)During the negotiation stage
Why should real estate licensees have good knowledge of the loan programs that are currently
available from local banks and other lenders? - (answer)Financing is a critical part of the
transaction. Licensees need to stay current on lenders' guidelines so they can qualify both the
buyers and the property.
What is the mission of the Division of Licensing Services? - (answer)To protect the health, safety
and welfare of consumers.
To provide efficient processing and examination services to license applicants.
To provide accurate information and qualified licensees to the business community. The Division
of Licensing issues licenses and enforces the real estate law.
What are the duties of the Secretary of State? - (answer)All licensing, examination, education,
and compliance provisions of Article 12-A.
,The rules of the Board.
The rules of the Secretary of State
How is an associate broker different from a broker? - (answer)An associate broker must meet the
same qualifications as a licensed broker; however, an associate broker chooses to work under the
name and supervision of a licensed real estate broker.
How do licensees collect their commissions? - (answer)A broker can collect commissions from
the clients. However, the licensees working for the broker can only receive commission
payments from their sponsoring broker.
How old must a person be who wishes to become licensed in New York? - (answer)Salespersons
must be 18 years old; brokers must be 20 years old.
How many hours of instruction are required to become licensed in New York? -
(answer)Salespersons are required to complete 77 hours of instruction; brokers must complete
152 hours.
How are exam scores reported, and what percentage is needed to pass the exam? -
(answer)ASAP after the exam as either pass or fail; 70%
,Besides individual and associate broker, name 2 classes of broker licenses available. -
(answer)Trade name broker, corporate broker, partnership broker
What are the experience requirements to become a broker? - (answer)Two full years of
experience as a licensed salesperson and 3,500 points.
Three years of equivalent experience in some other aspect of real estate and 5,250 points, subject
to approval by the Department of State.
Which penalty is not imposed by the DOS on a real estate broker for engaging in fraud?
License revocation
Fine
Imprisonment
Reprimand - (answer)Imprisonment
An___________ real estate broker is a licensed real estate broker who chooses to work under the
name and supervision of a licensed real estate broker. - (answer)Associate
Associate brokers may receive commission payments from
, Seller
Buyer
Cooperating broker
Sponsoring broker - (answer)Sponsoring broker
Passed exam results are only valid for a period of ____ years. - (answer)2
For what are members of the Board compensated?
Their time
Their expertise
Contractual terms
Expense reimbursements - (answer)Expense reimbursements
How much is the fee charged by the DOS for an associate broker license?
$50
$185
$15
No fee is charged - (answer)$185
