Colibri Real Estate Exam
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During which stage of a During the negotiation stage
real estate transaction
must the licensee
remember to impart
information to the seller
regarding the potential
buyer's qualifications and
the quality of the offer
being presented?
Why should real estate Financing is a critical part of the transaction. Licensees
licensees have good need to stay current on lenders' guidelines so they
knowledge of the loan can qualify both the buyers and the property.
programs that are
currently available from
local banks and other
lenders?
To protect the health, safety and welfare of
consumers.
To provide efficient processing and examination
What is the mission of the
services to license applicants.
Division of Licensing
To provide accurate information and qualified
Services?
licensees to the business community. The Division of
Licensing issues licenses and enforces the real estate
law.
, All licensing, examination, education, and compliance
What are the duties of the provisions of Article 12-A.
Secretary of State? The rules of the Board.
The rules of the Secretary of State
An associate broker must meet the same
How is an associate
qualifications as a licensed broker; however, an
broker different from a
associate broker chooses to work under the name
broker?
and supervision of a licensed real estate broker.
A broker can collect commissions from the clients.
How do licensees collect However, the licensees working for the broker can
their commissions? only receive commission payments from their
sponsoring broker.
How old must a person be Salespersons must be 18 years old; brokers must be
who wishes to become 20 years old.
licensed in New York?
How many hours of Salespersons are required to complete 77 hours of
instruction are required to instruction; brokers must complete 152 hours.
become licensed in New
York?
How are exam scores ASAP after the exam as either pass or fail; 70%
reported, and what
percentage is needed to
pass the exam?
Besides individual and Trade name broker, corporate broker, partnership
associate broker, name 2 broker
classes of broker licenses
available.
Two full years of experience as a licensed salesperson
What are the experience and 3,500 points.
requirements to become a Three years of equivalent experience in some other
broker? aspect of real estate and 5,250 points, subject to
approval by the Department of State.
,Which penalty is not Imprisonment
imposed by the DOS on a
real estate broker for
engaging in fraud?
License revocation
Fine
Imprisonment
Reprimand
An___________ real estate Associate
broker is a licensed real
estate broker who
chooses to work under
the name and supervision
of a licensed real estate
broker.
Associate brokers may Sponsoring broker
receive commission
payments from
Seller
Buyer
Cooperating broker
Sponsoring broker
Passed exam results are 2
only valid for a period of
____ years.
For what are members of Expense reimbursements
the Board compensated?
Their time
Their expertise
Contractual terms
Expense reimbursements
, How much is the fee $185
charged by the DOS for
an associate broker
license?
$50
$185
$15
No fee is charged
How many points are 400
given for hotel sales
experience?
400
300
250
125
From whom can a From his or her sponsoring broker only
salesperson receive
compensation?
From any broker he or she
works for
From a broker or client
From his or her
sponsoring broker only
From the broker or
another licensee in the
same firm
How many points are 5,250
given for 3 years of
certain types of real estate
activities?
1,000
3,500
5,250
7,625
Save
During which stage of a During the negotiation stage
real estate transaction
must the licensee
remember to impart
information to the seller
regarding the potential
buyer's qualifications and
the quality of the offer
being presented?
Why should real estate Financing is a critical part of the transaction. Licensees
licensees have good need to stay current on lenders' guidelines so they
knowledge of the loan can qualify both the buyers and the property.
programs that are
currently available from
local banks and other
lenders?
To protect the health, safety and welfare of
consumers.
To provide efficient processing and examination
What is the mission of the
services to license applicants.
Division of Licensing
To provide accurate information and qualified
Services?
licensees to the business community. The Division of
Licensing issues licenses and enforces the real estate
law.
, All licensing, examination, education, and compliance
What are the duties of the provisions of Article 12-A.
Secretary of State? The rules of the Board.
The rules of the Secretary of State
An associate broker must meet the same
How is an associate
qualifications as a licensed broker; however, an
broker different from a
associate broker chooses to work under the name
broker?
and supervision of a licensed real estate broker.
A broker can collect commissions from the clients.
How do licensees collect However, the licensees working for the broker can
their commissions? only receive commission payments from their
sponsoring broker.
How old must a person be Salespersons must be 18 years old; brokers must be
who wishes to become 20 years old.
licensed in New York?
How many hours of Salespersons are required to complete 77 hours of
instruction are required to instruction; brokers must complete 152 hours.
become licensed in New
York?
How are exam scores ASAP after the exam as either pass or fail; 70%
reported, and what
percentage is needed to
pass the exam?
Besides individual and Trade name broker, corporate broker, partnership
associate broker, name 2 broker
classes of broker licenses
available.
Two full years of experience as a licensed salesperson
What are the experience and 3,500 points.
requirements to become a Three years of equivalent experience in some other
broker? aspect of real estate and 5,250 points, subject to
approval by the Department of State.
,Which penalty is not Imprisonment
imposed by the DOS on a
real estate broker for
engaging in fraud?
License revocation
Fine
Imprisonment
Reprimand
An___________ real estate Associate
broker is a licensed real
estate broker who
chooses to work under
the name and supervision
of a licensed real estate
broker.
Associate brokers may Sponsoring broker
receive commission
payments from
Seller
Buyer
Cooperating broker
Sponsoring broker
Passed exam results are 2
only valid for a period of
____ years.
For what are members of Expense reimbursements
the Board compensated?
Their time
Their expertise
Contractual terms
Expense reimbursements
, How much is the fee $185
charged by the DOS for
an associate broker
license?
$50
$185
$15
No fee is charged
How many points are 400
given for hotel sales
experience?
400
300
250
125
From whom can a From his or her sponsoring broker only
salesperson receive
compensation?
From any broker he or she
works for
From a broker or client
From his or her
sponsoring broker only
From the broker or
another licensee in the
same firm
How many points are 5,250
given for 3 years of
certain types of real estate
activities?
1,000
3,500
5,250
7,625
