Real Estate U Final Exam Study Guide Exam Questions and Answers 100% Pass

Real Estate U Final Exam Study

Guide 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 your register for the New York State

,Salesperson exam using eAccessNY. You must bring this 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