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NY REAL ESTATE EXPRESS EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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NY REAL ESTATE EXPRESS EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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NY REAL ESTATE EXPRESS EXAM2024/2025 WITH 100% ACCURATE
SOLUTIONS
Sellers market their property using a __________. - Precise Answer
✔✔listing agreement
When the licensee has a buyer brokerage agreement with a purchaser, he
or she must represent the best interests of the ___ rather than the ___. -
Precise Answer ✔✔buyer,seller
In most cases, buyers cannot make a purchase without ____ at least
some part of the transaction. - Precise Answer ✔✔financing
Buyer gets the ____ to the property, seller gets the _____ from the sale,
and the broker gets a _____. - Precise Answer ✔✔deed, proceeds,
commission
The DOS is responsible for the ___, _____ and _____ of a number of
occupations - Precise Answer ✔✔licensure, registration, regulation
The Mission of the DOS is... - Precise Answer ✔✔To protect the health,
safety and welfare of consumers.
To provide efficient processing and examination services to license
applicants.
,To provide accurate information and qualified licensees to the business
community.
The DOS is allowed to reprimand a real estate broker if: - Precise
Answer ✔✔Violated any provision of Article 12-A of the Real Property
Law.
Engaged in fraud or fraudulent practices.
Demonstrated untrustworthiness or incompetence.
The Board consists of the _____, the _____ of Financial Services and
______ (brokers or public members). - Precise Answer ✔✔Secretary of
State, Superintendent of Financial Services, thirteen appointed members
(brokers or public members).
Depending on the appointments by the Minority Leaders, the Board will
be composed of: - Precise Answer ✔✔Seven real estate brokers and six
public members
Six real estate brokers and seven public members
Five real estate brokers and eight public members
The _____ is the Chairperson. A Vice-Chairperson and Secretary are
elected from among the other members of the Board. If a member fails
to attend ____ consecutive meetings, the member shall forfeit seat on the
Board (may be excused due to illness or death in the family). - Precise
Answer ✔✔Secretary of State, three
, The ____ has the duty to administer all licensing, examination,
education, and compliance provisions of Article 12-A; the rules of the
Board; and the rules of the Secretary of State. - Precise Answer
✔✔Secretary of State
Except for things delegated specifically to the ____, the ___ has general
authority to promulgate rules and regulations affecting real estate
brokers and salespersons in order to administer Article 12-A of the Real
Property Law. - Precise Answer ✔✔Secretary of State, Board
Has a responsibility to be fair and competent when dealing with the
public. Is responsible for managing and supervising all affiliated
licensees. - Precise Answer ✔✔real estate broker
Licensed real estate broker who chooses to work under the name and
supervision of a licensed real estate broker. Can maintain a separate real
estate broker's license. Can only receive commission payments from
their sponsoring broker. - Precise Answer ✔✔Associate real estate
broker
Works on behalf of a licensed real estate broker to perform any of the
duties associated with real estate transactions. Can only receive
commission payments from sponsoring broker. - Precise Answer
✔✔Real estate salesperson
Exemptions from needing a license: - Precise Answer ✔✔An owner
selling/landlord renting own property.
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