7/11/26, 10:09 AM Real Estate U Final EXAM Questions & Answers | With 100% Correct Answers graded A+ (updated 2026) Guaranteed Success!! …
Real Estate U Final EXAM Questions & Answers |
With 100% Correct Answers graded A+ (updated
2026) Guaranteed Success!!
Save Add to calendar
Terms in this set (193)
Article 12-A of the NYS Real Property - The section of the New York Real Property Law
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 - A licensed real estate broker that holds the
license of a salesperson.
"Summary of Your Submission" - 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.
Misdemeanor - A crime punishable by up to a year in prison
and/or a $1,000 fine.
Listing Agreement - An employment contract between principal and
agent, authorizing the
agent to perform services for the principle
involving the latter's property
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,7/11/26, 10:09 AM Real Estate U Final EXAM Questions & Answers | With 100% Correct Answers graded A+ (updated 2026) Guaranteed Success!! …
Pocket Card - 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 - 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.
OLD CAR - Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
Obedience - Agent must act in accordance to clients
demands/instructions.
Loyalty - Agent must work in the best interest of the client.
Disclosure of Information - Agent must communicate with client/must present
all offers.
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Confidentiality - All confidential information as described by client
must remain so unless given permission in writing.
Accountability - One of the more serious fiduciary responsibilities.
Reasonable Care - Agent may be liable for costly mistakes.
Disclosure Regarding Real Estate - A written explanation, to
Agency Relationships Form 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 - 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
Principal - The employer of an agent or broker; the broker's
or agent's client.
Price Fixing - Conspiring to establish fixed fees or prices for
services or products.
Market Allocation - An agreement between members of a trade
conspiring to refrain from competition in specific
market areas.
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Real Estate U Final EXAM Questions & Answers |
With 100% Correct Answers graded A+ (updated
2026) Guaranteed Success!!
Save Add to calendar
Terms in this set (193)
Article 12-A of the NYS Real Property - The section of the New York Real Property Law
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 - A licensed real estate broker that holds the
license of a salesperson.
"Summary of Your Submission" - 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.
Misdemeanor - A crime punishable by up to a year in prison
and/or a $1,000 fine.
Listing Agreement - An employment contract between principal and
agent, authorizing the
agent to perform services for the principle
involving the latter's property
https://quizlet.com/1194189202/real-estate-u-final-exam-questions-answers-with-100-correct-answers-graded-a-updated-2026-guaranteed-success-fl… 1/30
,7/11/26, 10:09 AM Real Estate U Final EXAM Questions & Answers | With 100% Correct Answers graded A+ (updated 2026) Guaranteed Success!! …
Pocket Card - 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 - 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.
OLD CAR - Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
Obedience - Agent must act in accordance to clients
demands/instructions.
Loyalty - Agent must work in the best interest of the client.
Disclosure of Information - Agent must communicate with client/must present
all offers.
https://quizlet.com/1194189202/real-estate-u-final-exam-questions-answers-with-100-correct-answers-graded-a-updated-2026-guaranteed-success-fl… 2/30
, 7/11/26, 10:09 AM Real Estate U Final EXAM Questions & Answers | With 100% Correct Answers graded A+ (updated 2026) Guaranteed Success!! …
Confidentiality - All confidential information as described by client
must remain so unless given permission in writing.
Accountability - One of the more serious fiduciary responsibilities.
Reasonable Care - Agent may be liable for costly mistakes.
Disclosure Regarding Real Estate - A written explanation, to
Agency Relationships Form 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 - 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
Principal - The employer of an agent or broker; the broker's
or agent's client.
Price Fixing - Conspiring to establish fixed fees or prices for
services or products.
Market Allocation - An agreement between members of a trade
conspiring to refrain from competition in specific
market areas.
https://quizlet.com/1194189202/real-estate-u-final-exam-questions-answers-with-100-correct-answers-graded-a-updated-2026-guaranteed-success-fl… 3/30
