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NYS Real Estate Practice Exam Questions And Answers
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NYS Real Estate Practice Exam Questions And Answers
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NYS Real Estate Practice Exam QuestionsAnd Answers
What ‘.agency ‘.issues ‘.real ‘.estate ‘.licenses? ‘.- ‘.(correct ‘.answer) ‘.-The ‘.New ‘.York ‘.State
‘.Department ‘.of ‘.State ‘.(NYDOS), ‘.Divison ‘.of ‘.Licensing ‘.Services
At ‘.what ‘.age ‘.can ‘.you ‘.become ‘.a ‘.real ‘.estate ‘.salesperson? ‘.- ‘.(correct ‘.answer) ‘.-18
Do ‘.you ‘.need ‘.experience ‘.in ‘.the ‘.field ‘.to ‘.become ‘.a ‘.sales ‘.person? ‘.- ‘.(correct ‘.answer) ‘.-No
What ‘.is ‘.the ‘.minimum ‘.age ‘.to ‘.become ‘.a ‘.real ‘.estate ‘.broker? ‘.- ‘.(correct ‘.answer) ‘.-20
If ‘.your ‘.license ‘.is ‘.revoked, ‘.how ‘.long ‘.do ‘.you ‘.have ‘.to ‘.wait ‘.to ‘.re-apply ‘.for ‘.it? ‘.- ‘.(correct
‘.answer) ‘.-One ‘.year
Do ‘.you ‘.need ‘.experience ‘.in ‘.the ‘.field ‘.to ‘.become ‘.a ‘.broker? ‘.- ‘.(correct ‘.answer) ‘.-Yes, ‘.at
‘.least ‘.2 ‘.years ‘.of ‘.experience ‘.and ‘.3200 ‘.points
As ‘.a ‘.licensing ‘.salesperson, ‘.I ‘.can ‘.receive ‘.compensation ‘.from ‘.my? ‘.- ‘.(correct ‘.answer) ‘.-
Sponsoring ‘.Broker
As ‘.a ‘.real ‘.estate ‘.licensee ‘.you ‘.will ‘.more ‘.often ‘.than ‘.not ‘.be ‘.an ‘.________, ‘.will ‘.receive ‘.a
‘.____________ ‘.and ‘.will ‘.file ‘.a ‘._____________ ‘.- ‘.(correct ‘.answer) ‘.-Independent ‘.contractor,
‘.1099, ‘.Schedule ‘.C
Attorneys ‘.admitted ‘.to ‘.the ‘.bar ‘.in ‘.NYS ‘.are ‘._____ ‘.from ‘.the ‘.licensure ‘.law, ‘.unless ‘.they
‘.take ‘.on ‘.sales ‘.people ‘.- ‘.(correct ‘.answer) ‘.-Exempt
If ‘.you ‘.mix ‘.your ‘.clients ‘.money ‘.with ‘.the ‘.office ‘.operating ‘.funds, ‘.it ‘.is ‘.called________ ‘.and
‘.you ‘.have ‘.violated ‘.which ‘.fiducary ‘.duty? ‘.- ‘.(correct ‘.answer) ‘.-Commingling ‘.funds ‘.and
‘.Accountability
For ‘.how ‘.long ‘.does ‘.a ‘.broker ‘.need ‘.to ‘.keep ‘.his/her ‘.records ‘.for? ‘.- ‘.(correct ‘.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? ‘.- ‘.(correct ‘.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? ‘.- ‘.(correct ‘.answer) ‘.-Broker ‘.holds ‘.the
‘.license ‘.and ‘.I ‘.hold ‘.the ‘.pocket ‘.card
How ‘.many ‘.hours ‘.of ‘.continuing ‘.ed ‘.must ‘.a ‘.sales ‘.person ‘.take? ‘.- ‘.(correct ‘.answer) ‘.-22.5
‘.hours
As ‘.a ‘.real ‘.estate ‘.sales ‘.person, ‘.you ‘.have ‘.to ‘.take ‘.continuing ‘.ed ‘.classes ‘.every? ‘.- ‘.(correct
‘.answer) ‘.-2 ‘.years
There ‘.is ‘.also ‘.a ‘.component ‘.of ‘._________ ‘.required ‘.every ‘.two ‘.years. ‘.- ‘.(correct ‘.answer) ‘.-
Fair ‘.housing
Are ‘.Real ‘.Estate ‘.brokers ‘.also ‘.required ‘.to ‘.take ‘.the ‘.CE ‘.classes? ‘.- ‘.(correct ‘.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? ‘.- ‘.(correct ‘.answer) ‘.-
$500
If ‘.you ‘.are ‘.a ‘.independent ‘.contractor ‘.what ‘.can ‘.a ‘.broker ‘.provide ‘.to ‘.you? ‘.- ‘.(correct
‘.answer) ‘.-Telephone
As ‘.an ‘.independent ‘.contractor ‘.are ‘.you ‘.paid ‘.for ‘.the ‘.hours ‘.you ‘.put ‘.into ‘.a ‘.deal, ‘.or ‘.for
‘."production'? ‘.- ‘.(correct ‘.answer) ‘.-no
What ‘.is ‘.the ‘.term ‘.of ‘.a ‘.real ‘.estate ‘.licensure? ‘.- ‘.(correct ‘.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? ‘.- ‘.(correct ‘.answer) ‘.-Two ‘.Years
Violation ‘.of ‘.real ‘.estate ‘.Licensee ‘.law ‘.is ‘.a? ‘.- ‘.(correct ‘.answer) ‘.-Misdemeanor
What ‘.is ‘.the ‘.possible ‘.penalty ‘.of ‘.violating ‘.Real ‘.Estate ‘.Licensee ‘.Law? ‘.- ‘.(correct ‘.answer) ‘.-
$1000 ‘.fine, ‘.and ‘.up ‘.to ‘.one ‘.year ‘.in ‘.jail
What ‘.is ‘.the ‘.very ‘.first ‘.document ‘.you ‘.should ‘.fill ‘.out ‘.with ‘.a ‘.client ‘.or ‘.customer? ‘.- ‘.
(correct ‘.answer) ‘.-Agency ‘.Disclosure ‘.Form
At ‘.what ‘.moment ‘.should ‘.you ‘.take ‘.out ‘.the ‘.Agency ‘.Disclosure ‘.form? ‘.- ‘.(correct ‘.answer) ‘.-At
‘.first ‘.Substantive ‘.Contact
What ‘.does ‘.First ‘.substantive ‘.contact ‘.mean? ‘.- ‘.(correct ‘.answer) ‘.-When ‘.the ‘.customer ‘.begins
‘.to ‘.ask ‘.questions ‘.pretaining ‘.to ‘.the ‘.Real ‘.Estate ‘.Property.
What ‘.should ‘.you ‘.do ‘.if ‘.a ‘.customer ‘.refuses ‘.to ‘.sign ‘.an ‘.Agency ‘.Disclousure ‘.form? ‘.- ‘.
(correct ‘.answer) ‘.-Fill ‘.out ‘.an ‘.affidavit ‘.stating ‘.the ‘.refusal ‘.to ‘.sign, ‘.then ‘.have ‘.it ‘.notarizied.
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