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NEW YORK REAL ESTATE CHAPTER 1 QUESTIONS AND ANSWERS 100% CORRECT
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NEW YORK REAL ESTATE CHAPTER 1
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NEW YORK REAL ESTATE CHAPTER 1How many hours of continuing education are required by salespersons and brokers...? -
answer22.5
A written agreement between two or more parties providing that certain instruments or
property be placed with a third party to be delivered to a designated person upon the
fulfillment or performance of some act or condition is known as what...? - answer
Escrow
Conditions under which a property condition disclosure statement is not required is
known as a/an...? - answer Exemption
A payment by a broker to anyone who is not licensed or who is not exempt from the
license law is known as a...? - answer Kickback
A price below which an owner will not sell the property, and at which price a broker will
not receive a commission is referred to as what...? - answer Net Listing
A card issued by the Department of State to each licensee is known as a...? -
answerPocket Card
An individual who is licensed to negotiate and arrange real estate sales is known as
a...? - answerReal Estate Salesperson
The act of recalling a power of authority is known as what...? - answerRevocation
A licensed real estate broker that holds the license of a salesperson is known as
what...? - answerSponsor
What is the primary purpose of Article 12-A of the NYS Real Property Law...? -
answerTo protect the public
The section of the New York Real Property Law pertaining to real estate salespersons
and brokers is known as...? - answerArticle 12-A
Which of the following actions does NOT require a real estate license, according to
Article 12-A of the NYS Real Property Law...
Researching properties on behalf of another
Collecting rent on behalf of another
Negotiating a commercial loan on behalf of another
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