NYS Real Estate Salesperson Exam |119 Questions| with correct answers

How often must you renew your real estate salesperson/broker license? CORRECT ANSWER Every 2 years What is the purpose of license laws in the real estate industry? CORRECT ANSWER To minimize fraudulent practice and protect the general public The New York regulatory agency that oversees real estate licensure is the: CORRECT ANSWER Department of State Most of the law about salespersons and brokers is in which article of the Real Property Law? CORRECT ANSWER Article 12-A What are the age requirements for a broker applicant and a salesperson applicant, respectively? CORRECT ANSWER Broker must be at least 20 years old; a salesperson must be at least 18 years old. Attorneys admitted to practice in the NY courts may act as brokers (help you sell, buy and get commission) without obtaining a broker license. However, under what circumstance must they obtain a real estate license? CORRECT ANSWER If they employ salespersons to work under their supervision Do building superintendents and maintenance workers (who perform tasks such as rent collection) for one owner or company require licensure? CORRECT ANSWER No How long does a licensee have from the license expiration date to renew? CORRECT ANSWER Two years