100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials $10.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. NYS
  4.  
  5. NYS

Exam (elaborations)

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials
 0 purchase
  • Course
  • NYS
  • Institution
  • NYS

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Individuals not exempt from the licensure requirements would be: A: Trustees in a Bankruptcy B:Attorneys C:Receivers D:Those under age 21 D: Those under Age 21 The New York regulatory agency that oversees the real estate l...

[Show more]

Preview 3 out of 19  pages

Document information

  • November 14, 2024
  • 19
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • nys real estate exam questions and answers buy qu

Written for

  • NYS
All documents for this subject (201)

Seller

avatar-seller
TopGradeSolutions

Reviews received

Content preview

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy
Quality Materials


Individuals not exempt from the licensure requirements would be:
A: Trustees in a Bankruptcy
B:Attorneys
C:Receivers
D:Those under age 21
D: Those under Age 21
The New York regulatory agency that oversees the real estate licensure is the:
A :Multiple Listing Service
B: New York State Real Estate Board
C: Department of Law
D: Department of State
D: Department of State
A seller pays an extra commission to go entirely to the salesperson. The
salesperson:
A: May receive extra monies if the sponsoring broker first receives the monies
and pays it to the salesperson
B: May not accept the extra commission
C: Must first ask Permission from the supervising Broker
D: May have the seller give the commission to a friend, who will, in turn, give it to
the salesperson
A: May receive extra monies if the sponsoring broker first receives the monies and pays
it to the salesperson
A licensee activity that violates the license law is:
A: Marketing one's own property through one's real estate office
B: Charging varying rates of commission for several different listings
C: Advising a Buyer as to the validity of a deed
D: Completing a comparative market analysis
C: Advising a Buyer as to the validity of a deed
A person typically exempt from real estate licensure is one:
A: Who lists only property for sale for others
B: Acts for another rental agent for one property
C: Who negotiates only leases for others
D: Engages in the real estate brokerage business for only a few months a year
B: Acts for another rental agent for one property
To induce a prospective buyer to purchase a property, a real estate broker
informs the buyer that the property is six years old although the broker knows the
property is eight years old. Relying on the broker's statement, the buyer contracts
to purchase the property. Which of the following is FALSE? The:
A: Broker is in violation of the license law
B: Broker has committed to act of willful misrepresentation
C: Buyer can have contract set aside
D: Seller, not the broker, is responsible for any misrepresentation

,D: Seller, not the broker, is responsible for any misrepresentation
The maximum time allowed to renew a license without having to retake the state
exam is:
A: Within two years of the expiration date of the license
B: No later then the expiration fo the license
C: Six months before the expiration date
D: One year from the date the license was issued
A: Within two years of the expiration date of the license
A real estate salesperson license is :
A: Kept by the salesperson
B: Kept by the broker
C: Conspicuously kept by the broker
D: one year from the date the license was issued
B: Kept by the broker
According to license law and regulations. the DOS requires a broker to:
A: Open at least one branch office
B: Conspicuously display the broker's license
C: Hire other salespersons
D: lose at least ten transactions a year
B: Conspicuously display the broker's license
Which of the following is not exempt from taking continuing education? A(n):
A: Broker licensed before July 1 2008 for 15 continuous years
B: Salesperson licensed for 15 continuous years
C: attorney licensed to
B: Salesperson licensed for 15 continuous years
Which of the following statements is FALSE:
A: Net listings are legal in some New York counties
B: Real estate broker applicants must be at least 20 years old
C: Attorneys are exempt from continuing education requirements
D: The licensure term for real estate persons is two years
A: Net listings are legal in some New York counties
Which of the following is TRUE regarding the termination of association by a
broker?
A: The broker need not do anything except bid a final farewell
B: A new salesperson must stay with the first brokerage firm for a minimum of
one year
C: A salesperson cannot associate with another brokerage firm until his or her
termination of association is filed with DOS
D: The Broker must file a termination of association online with NYSDFS
C: A salesperson cannot associate with another brokerage firm until his or her
termination of association is filed with DOS
Should the DOS pursue a complaint about the licensee's activity, which of the
following is FALSE?
A: The DOS may investigate the complaint
B: A hearing may be scheduled in front of an administrative law judge
C: The decision from a DOS hearing may be appealed to the NYS secretary of

, state
D: The licensee has no right to appeal the findings of a DOS hearing
D: The licensee has no right to appeal the findings of a DOS hearing
The form that gives you the New York courts jurisdiction over licensees who
reside out of state is:
A: A irrevocable consent
B: Change of personal name
C: Judicial subpoena
D: Disclosure
A: A irrevocable consent
To attain a licensure, broker applicants must have a minimum of how many years
of salesperson licensure?
A: One Year
B: Two Years
C: Three Years
B: Two Years
In New York, individuals may apply for licensure if they:
A: Are citizens
B: Are legally present in the United States
C: Posses a U.S. permanent resident (Green Card)
D: Any of the above
D: Any of the Above
A licensee activity that violates the license law occurs when a salesperson:
A: Markets his own property through his real estate office
B: Terminates an association with a broker after one year
C: Gives a seller a copy of the listing contract
D: Omits the name of his broker of brokerage firm on his business card
D: Omits the name of his broker of brokerage firm on his business card
In New York, unlicensed assistants may NOT:
A: Show a property
B: Monitor files and report findings to a licensee
C: Compute commission Checks
D: Prepare promotional materials
A: Show a property
In New York, a branch manager may be a(n):
A: Salesperson
B: Unlicensed assistant
C: Associate Broker
D: Licensee with two or more years' experience in the real estate business
C: Associate Broker
A change of association informs the DOS that a(n)
A: Licensee works for more than one company
B: Licensee has signed on with a new sponsoring broker
C: Associate broker has become a broker
D: Licensee, whether a salesperson or an associate broker, has terminated
association with his current broker

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TopGradeSolutions. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $10.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

66184 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$10.49
  • (0)
Add to cart
Added