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Real Estate U Final Exam Joe Jacobs Questions and Complete Solutions Graded A+.
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Real Estate U Final Exam Joe Jacobs Questions and Complete Solutions Graded A+.
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Real Estate U Final ExamJoe Jacobs Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
,If a person's real estate related activities bring them within the statutory definition of a "principal
vocation," do they need a license? If so, what kind? - Answer: Yes. They need a broker's license.
For salespersons, how many hours of prelicensure education courses must cover civil rights law and
equal opportunity housing? - Answer: 4
True or false: You can submit a real estate license application online. - Answer: True for salespersons.
How often must real estate licenses be renewed? - Answer: Every three years.
How many hours of continuing education courses must you take during each reporting period? -
Answer: 18
Who keeps a salesperson's wall license while the salesperson practices real estate? - Answer: The
employer broker
When can a salesperson begin to engage in real estate transactions? - Answer: When the salesperson
receives their pocket card.
Which of the following does the statute require before you enter an agency relationship with a
prospective buyer or seller? - Answer: Provide the prospective client with a written agency disclosure
Latisha is a broker. Her salesperson Thomas resigns. What is Latisha required to do? - Answer: Return
Thomas's wall license to the department within 5 days
Salesperson Leroy works for Big Team Broker, Inc. He advertises a property, with his name and phone
number displayed in 72-point type. Do the rules require the ad to show Big Team Realty, Inc.'s business
name and contact information? - Answer: Yes, in type equal to or larger than used for Leroy's name and
number.
The Department of State's ability to enforce license laws through reprimand and denial as well as the
suspension and revocation of licenses is known as...? - Answer: Administrative Discipline
,To mingle or mix funds is known as what...? - Answer: Commingling
Chris is a real estate broker involved in a residential transaction. When Chris illegally places his client's
funds into his personal account, what is he engaged in...? - Answer: Commingling of Funds
The post-license education required by salespersons and brokers is known as what...? - Answer:
Continuing Education
Conditions under which a property condition disclosure statement is not required is known as a/an...? -
Answer: Exemption
Which of the following are NOT assessed by a home inspector...? - Answer: Air Rights
A card issued by the Department of State to each licensee is known as a...? - Answer: Pocket Card
Any person who, for a fee, arranges, conducts, coordinates, handles or causes meetings between a
customer and the current owner or occupant of legally occupied real property, including apartment
housing, who wishes to share that housing with one or more individuals is known as a/an...? - Answer:
Apartment Sharing Agent
A licensed real estate broker that holds the license of a salesperson is known as what...? - Answer:
Sponsor
The discontinuance of an agent's relationship with his/her sponsoring broker is known as what...? -
Answer: Termination
A written document that terminates the relationship between an agent and his/her sponsoring broker is
known as what...? - Answer: Termination of Association Notice
An act, deed or conditions contrary to law or permissible use of real property is known as a...? - Answer:
Violation
, This law governs the practice of real estate salespersons and brokers...? - Answer: Article 12-A of the
NYS Real Property Law
Who is a real estate salesperson required to work under...? - Answer: A licensed real estate broker
Which of the following individuals works under a real estate broker...? - Answer: Real Estate
Salesperson
Which of the following professionals works under and/or for a real estate broker...? - Answer: Associate
Broker
According to Article 12-A of the NYS Real Property Law, which of the following is a general requirement
for obtaining a real estate salespersons license...? - Answer: Must have at least a work permit
James wants to become a real estate salesperson. Which of the following requirements must James
satisfy in order to obtain his license...? - Answer: Must have at least a work permit
Mark is a real estate salesperson but wants to obtain his real estate broker's license. Which of the
following requirements must Mark satisfy in order to obtain his broker's license...? - Answer: He must
be at least 20 years of age
What must a licensed real estate salesperson keep on him or herself at all times when practicing as an
agent...? - Answer: A Pocket Card
When is a real estate salesperson required to give notice to the Department of State....? - Answer:
When a salesperson changes sponsors
A licensed real estate broker who by choice elects to work under the name and supervision of another
real estate broker is known as a/an...? - Answer: Associate Real Estate Broker
Which professional is exempt from obtaining a real estate salespersons or brokers license to practice
real estate...? - Answer: Real Estate Attorney
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