Real Estate U Final Exam Questions
and Answers 100% Pass
Article 12-A of the NYS Real Property Law -
Answer: - The section of the New York Real Property Law pertaining to real
estate salespersons and brokers.
- Primary purpose is to "Protect the Public" - Requires a salesperson to be at least
18 years of age
- Requires a broker to be at least 20 years of age
Question: Sponsor -
Answer: - A licensed real estate broker that holds the license of a salesperson.
Question: "Summary of Your Submission" -
Answer: - Obtained after you register for the New York State
Salesperson exam using eAccessNY. You must bring your "Summary of Your
Submission" with
,you when taking the State exam.
Question: Misdemeanor -
Answer: - A crime punishable by up to a year in prison and/or a $1,000 fine.
Question: Listing Agreement -
Answer: - An employment contract between principal and agent, authorizing the
agent to perform services for the principle involving the latter's property
Question: Pocket Card -
Answer: - A card issued by the Department of State to each licensee which
contains the
photo, name and business address of the licensee, and, in the case of a real estate
salesperson, the name and business address of the broker with whom he or she is
associated
and shall certify that the person whose name appears thereon is a licensed real
estate broker or
salesperson.
,- Must be carried by the agent at all times when serving as a salesperson.
Question: Fiduciary -
Answer: - A person who on behalf of or for the benefit of another transacts
business or
handles money or property not the person's own; such relationship implies great
confidence and
trust.
Question: OLD CAR -
Answer: - Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
Question: Obedience -
, Answer: - Agent must act in accordance to clients demands/instructions.
Question: Loyalty -
Answer: - Agent must work in the best interest of the client.
Question: Disclosure of Information -
Answer: - Agent must communicate with client/must present all offers.
Question: Confidentiality -
Answer: - All confidential information as described by client must remain so
unless given permission in writing.
Question: Accountability -
Answer: - One of the more serious fiduciary responsibilities.
Question: Reasonable Care -
Answer: - Agent may be liable for costly mistakes.
and Answers 100% Pass
Article 12-A of the NYS Real Property Law -
Answer: - The section of the New York Real Property Law pertaining to real
estate salespersons and brokers.
- Primary purpose is to "Protect the Public" - Requires a salesperson to be at least
18 years of age
- Requires a broker to be at least 20 years of age
Question: Sponsor -
Answer: - A licensed real estate broker that holds the license of a salesperson.
Question: "Summary of Your Submission" -
Answer: - Obtained after you register for the New York State
Salesperson exam using eAccessNY. You must bring your "Summary of Your
Submission" with
,you when taking the State exam.
Question: Misdemeanor -
Answer: - A crime punishable by up to a year in prison and/or a $1,000 fine.
Question: Listing Agreement -
Answer: - An employment contract between principal and agent, authorizing the
agent to perform services for the principle involving the latter's property
Question: Pocket Card -
Answer: - A card issued by the Department of State to each licensee which
contains the
photo, name and business address of the licensee, and, in the case of a real estate
salesperson, the name and business address of the broker with whom he or she is
associated
and shall certify that the person whose name appears thereon is a licensed real
estate broker or
salesperson.
,- Must be carried by the agent at all times when serving as a salesperson.
Question: Fiduciary -
Answer: - A person who on behalf of or for the benefit of another transacts
business or
handles money or property not the person's own; such relationship implies great
confidence and
trust.
Question: OLD CAR -
Answer: - Obedience
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care
Question: Obedience -
, Answer: - Agent must act in accordance to clients demands/instructions.
Question: Loyalty -
Answer: - Agent must work in the best interest of the client.
Question: Disclosure of Information -
Answer: - Agent must communicate with client/must present all offers.
Question: Confidentiality -
Answer: - All confidential information as described by client must remain so
unless given permission in writing.
Question: Accountability -
Answer: - One of the more serious fiduciary responsibilities.
Question: Reasonable Care -
Answer: - Agent may be liable for costly mistakes.
