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NYS Real Estate Practice Exam Questions and Answers 100% Pass
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NYS Real Estate Practice Exam Questions and Answers 100% Pass What agency issues real estate licenses? - ANSWER-The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - ANSWER-18 Do you need experience in the field to...

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  • November 11, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
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  • nys real estate practice exam questions and answer

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED




NYS Real Estate Practice Exam Questions

and Answers 100% Pass


What agency issues real estate licenses? - ANSWER✔✔-The New York State Department of State

(NYDOS), Divison of Licensing Services


At what age can you become a real estate salesperson? - ANSWER✔✔-18


Do you need experience in the field to become a sales person? - ANSWER✔✔-No


What is the minimum age to become a real estate broker? - ANSWER✔✔-20


If your license is revoked, how long do you have to wait to re-apply for it? - ANSWER✔✔-One year


Do you need experience in the field to become a broker? - ANSWER✔✔-Yes, at least 2 years of

experience and 3200 points


As a licensing salesperson, I can receive compensation from my? - ANSWER✔✔-Sponsoring Broker


As a real estate licensee you will more often than not be an ________, will receive a ____________ and

will file a _____________ - ANSWER✔✔-Independent contractor, 1099, Schedule C


Attorneys admitted to the bar in NYS are _____ from the licensure law, unless they take on sales people -

ANSWER✔✔-Exempt


If you mix your clients money with the office operating funds, it is called________ and you have violated

which fiducary duty? - ANSWER✔✔-Commingling funds and Accountability



Copyright ©Stuvia International BV 2010-2024 Page 1/15

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED


For how long does a broker need to keep his/her records for? - ANSWER✔✔-Three years


If my license has expired, for how long can i continue to practice real estate sales?In other words, what is

the grace period? - ANSWER✔✔-No Grace Period


Your real estate license with the pocket card will be sent to your sponsoring broker. who holds the

license? Who holds the pocket card? - ANSWER✔✔-Broker holds the license and I hold the pocket card


How many hours of continuing ed must a sales person take? - ANSWER✔✔-22.5 hours


As a real estate sales person, you have to take continuing ed classes every? - ANSWER✔✔-2 years


There is also a component of _________ required every two years. - ANSWER✔✔-Fair housing


Are Real Estate brokers also required to take the CE classes? - ANSWER✔✔-Yes


If a seller decides not to provide the purchaser with the Property Condition Disclosure Form, how much

of a reduction in price does he have to give? - ANSWER✔✔-$500


If you are a independent contractor what can a broker provide to you? - ANSWER✔✔-Telephone


As an independent contractor are you paid for the hours you put into a deal, or for "production'? -

ANSWER✔✔-no


What is the term of a real estate licensure? - ANSWER✔✔-two years


If i was a real estate licensee and wanted to apply to become a mortgage broker, how many years of

experience would i need? - ANSWER✔✔-Two Years


Violation of real estate Licensee law is a? - ANSWER✔✔-Misdemeanor




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