NY REAL ESTATE EXAM -REVIEW QUESTIONS/NYS Real Estate Salesperson Exam Q&A 2023/NY Real Estate State Exam (Mult Choice) /New York Real Estate Salesperson Exam/New York Real Estate Exam Prep/NY Real Estate Practice Exam Questions And Answers/NYS REAL ESTAT

1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead - Answer- -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's licens...

How often must you renew your real estate salesperson/broker license? - Answer- Every 2 years What is the purpose of license laws in the real estate industry? - Answer- To minimize fraudulent practice and protect the general public The New York regulatory agency that oversees real estate licen...

An agency relationship is determined by: a) the source of compensation b) how well the parties know each other c) agreement between the principal and the agent d) first substantive contract - Answer- c) agreement between the principal and the agent Heat from outside air is utilized through a:...

Article 12A: NYS Real Property Law - Answer- "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption - Ans...

The situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker - Answer- -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low off...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - Answer- c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage prope...

For 15 years as a sales person and a broker or broker associate - Answer- Which licensee may be exempt from 22.5 hours of continuing education? Someone license continuously Property for another and for a fee - Answer- Who must have a real estate license to perform his services? One who sells I...