, NYS Real Estate Exam Questions and
Answers 100% Pass | Rated A+
NYS Dept of State - ✔✔agency that licenses real estate agents/brokers
Property law name - ✔✔Article 12A
Types of real estate licenses (3) - ✔✔salesperson, associate broker, broker
An associate broker... - ✔✔has no broker powers
A broker... - ✔✔sponsors salespeople and associate brokers
The salesperson's license is kept by... - ✔✔the broker for whom the salesperson
is working for, kept in a secure place
Pocket ID card - ✔✔Kept with the agent, should be carried at all times
Any changes to a salesperson's license - ✔✔should be submitted to the
Department of State with 5 days notice
Fees for license - ✔✔Salesperson: $50 every 2 years
Broker/Associate broker: $150 every 2 years
Education requirements - ✔✔22.5 hours of continuing education prior to license
renewal
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,Total educational hours for broker's license - ✔✔120 hours (75 sales, 45
brokers)
3500 points sales experience, 2 yrs full time
5250 points for related experience, 3 years full time
reciprocal states to NY - ✔✔9
Arkansas
Colorado
Connecticut
Georgia
Massachusetts
Mississippi
Oklahoma
Pennsylvania
West Virginia
What are the other DOS Licenses? (5) - ✔✔1. Notary publi
2. Apartment Information Vendor
3. Apartment Sharing Agent
4. Appraiser
5 Home inspector
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, Office regulations - ✔✔1. Must have appropriate office signage
2. Kickbacks are illegal!
3. Blind ads are illegal! (bait and switch)
Administrative discipline for misdeeds (3) - ✔✔1. suspension of license
2. Revocation of license (must wait one year before applying for licensing
privilege)
3. Article 78 proceeding - Appeal a decision
Stigmatized property disclosure - ✔✔Article 443, sellers and seller agents do not
have to disclose this info and may or may not disclose upon written request of
the buyer or buyer agent. A seller agent can disclose only with permission of the
seller. A buyer or buyer agent may provide written request for disclosure to the
seller or seller agent during negotiations for purchase.
Do Attorneys need a license to practice real estate brokerage? - ✔✔No, except
for when they employ licensee to work under their supervision
Commingling of funds - ✔✔ILLEGAL!
Net listings - ✔✔ILLEGAL!
Violation of license law - ✔✔misdemeanor and punishable by $1K fine and or a
maximum sentence of a year in jail
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