NYS Real Estate Practice Exam Study Test.
1. What agency issues real estate licenses? The New York State Depart
ment of State (NYDOS), Divi-
son of Licensing
Services
2. At what age can you become a real estate 18
salesper- son?
3. Do you need experience in the field to
No
become a sales person?
4. What is the minimum age to become a real
20
estate broker?
5. If your license is revoked, how long do you
have to wait to re-apply for it? One year
6. Do you need experience in the field to
become a broker? Yes, at least 2 years of
expe- rience and 3200
7. As a licensing salesperson, I can receive points
compensa- tion from my?
Sponsoring Broker
8. As a real estate licensee you will more often than not Independent
contractor,
be an , will receive a and will1099, Schedule C
file a
9. Attorneys admitted to the bar in NYS areExempt
from the licensure law, unless they take on
sales people
10. If you mix your clients money with the office operat- Commingling
funds and Ac-
1/
28
, NYS Real Estate Practice Exam Study Test.
ing funds, it is called and you have countability
violated which fiducary duty?
11. Three years
2/
28
, NYS Real Estate Practice Exam Study Test.
For how long does a broker need to keep his/her
records for?
12. If my license has expired, for how long can i continue No Grace
Period
to practice real estate sales?In other words, what
is the grace period?
13. Your real estate license with the pocket Broker holds the license
card will be sent to your sponsoring and I hold the pocket
broker. who holds the license? Who holds card
the pocket card?
14. How many hours of continuing ed must a
22.5 hours
sales per- son take?
15. As a real estate sales person, you have to
2 years
take con- tinuing ed classes every?
16. There is also a component of required every Fair housing
two years.
17. Are Real Estate brokers also required to take Yes
the CE classes?
18. If a seller decides not to provide the purchaser
$500
with the Property Condition Disclosure Form,
how much of a reduction in price does he
have to give?
Telephone
19. If you are a independent contractor what can a
bro- ker provide to you?
20. As an independent contractor are you paid no
for the hours you put into a deal, or for
"production'?
3/
28
1. What agency issues real estate licenses? The New York State Depart
ment of State (NYDOS), Divi-
son of Licensing
Services
2. At what age can you become a real estate 18
salesper- son?
3. Do you need experience in the field to
No
become a sales person?
4. What is the minimum age to become a real
20
estate broker?
5. If your license is revoked, how long do you
have to wait to re-apply for it? One year
6. Do you need experience in the field to
become a broker? Yes, at least 2 years of
expe- rience and 3200
7. As a licensing salesperson, I can receive points
compensa- tion from my?
Sponsoring Broker
8. As a real estate licensee you will more often than not Independent
contractor,
be an , will receive a and will1099, Schedule C
file a
9. Attorneys admitted to the bar in NYS areExempt
from the licensure law, unless they take on
sales people
10. If you mix your clients money with the office operat- Commingling
funds and Ac-
1/
28
, NYS Real Estate Practice Exam Study Test.
ing funds, it is called and you have countability
violated which fiducary duty?
11. Three years
2/
28
, NYS Real Estate Practice Exam Study Test.
For how long does a broker need to keep his/her
records for?
12. If my license has expired, for how long can i continue No Grace
Period
to practice real estate sales?In other words, what
is the grace period?
13. Your real estate license with the pocket Broker holds the license
card will be sent to your sponsoring and I hold the pocket
broker. who holds the license? Who holds card
the pocket card?
14. How many hours of continuing ed must a
22.5 hours
sales per- son take?
15. As a real estate sales person, you have to
2 years
take con- tinuing ed classes every?
16. There is also a component of required every Fair housing
two years.
17. Are Real Estate brokers also required to take Yes
the CE classes?
18. If a seller decides not to provide the purchaser
$500
with the Property Condition Disclosure Form,
how much of a reduction in price does he
have to give?
Telephone
19. If you are a independent contractor what can a
bro- ker provide to you?
20. As an independent contractor are you paid no
for the hours you put into a deal, or for
"production'?
3/
28
