NY Real Estate License Practice Questions and Answers

Which NY law allows the DOS to revoke, suspend, fine, or reprimand a real estate broker? A) NY Real Property Law, Article 13 B) NY Real Property Law, Section 442-a C) NY Real Property Law, Section 441-c D) NY Real Property Law, Article 15-A C) NY Real Property Law, Section 441-c How many members of the NYS Board of Real Estate must be real estate brokers? A) 5 B) 7 C) All D) None A) 5 What are the experience requirements for a broker candidate? A) One full year of experience as a licensed salesperson OR two years of equivalent experience in some other aspect of real estate B) Two full years of experience as a licensed salesperson AND three years of equivalent experience in some other aspect of real estate C) One full year of experience as a licensed salesperson AND two years of equivalent experience in some other aspect of real estate D) Two full years of experience as a licensed salesperson OR three years of equivalent experience in some other aspect of real estate D) Two full years of experience as a licensed salesperson OR three years of equivalent experience in some other aspect of real estate Which of the following real estate licenses has a fee of $185? A) Salesperson B) Broker and Associate Broker C) Foreign D) Branch Office B) Broker and Associate Broker How much is the fee charged by the DOS for an associate broker license? A) $50 B) $185 C) $15 D) No fee is charged B) $185 The final step of the real estate transaction is A) Accepting the offer. B) Paying the purchase price. C) Closing. D) Clearing the title. C) Closing.