NYS REAL ESTATE SALESPERSON EXAM QUESTIONS
1.How often must you renew your real estate salesperson/broker license?: -
Every 2 years
2.What is the purpose of license laws in the real estate industry?: To
minimize fraudulent practice and protect the general public
3.The New York regulatory agency that oversees real estate licensure is the:
: Department of State
4.Most of the law about salespersons and brokers is in which article of
the Real Property Law?: Article 12-A
5.What are the age requirements for a broker applicant and a salesperson
applicant, respectively?: Broker must be at least 20 years old; a
salesperson must be at least 18 years old.
6.Attorneys admitted to practice in the NY courts may act as brokers (help
you sell, buy and get commission) without obtaining a broker license.
However, under what circumstance must they obtain a real estate license?: If
they employ salespersons to work under their supervision
7.Do building superintendents and maintenance workers (who perform
tasks such as rent collection) for one owner or company require licensure?:
No
8.How long does a licensee have from the license expiration date to renew?-
: Two years
9.If a DOS officer appears and asks a licensee (you) for a photo ID, what
should the licensee (you) do?: The licensee must carry photo ID cards at
all times when doing business and show it on demand
10.Under the Real Property Law in New York, a branch office manager may
be a(n):: associate broker
11.What must brokers' business sign contain?: Broker's name and the
words "licensed real estate broker"
12.The listing salesperson must accept compensation directly from::
Spon- soring broker
13.When brokers improperly pay any part of their compensation to anyone
who is not license or who is not exempt from the license law, they violate
the license law. This payment is called a:: kickback
14.If licensees terminate their association with a broker, they must turn over
all obtained during their association with the broker.: listing
agreements and contracts
15.What is the mixing of the funds of others with business or personal
funds called, and what is the charge for it?: Commingling; misdemeanor.
16.What is the apportionment of other people's money from one use to
another called? (if a broker uses deposit money that does not yet belong to
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1.How often must you renew your real estate salesperson/broker license?: -
Every 2 years
2.What is the purpose of license laws in the real estate industry?: To
minimize fraudulent practice and protect the general public
3.The New York regulatory agency that oversees real estate licensure is the:
: Department of State
4.Most of the law about salespersons and brokers is in which article of
the Real Property Law?: Article 12-A
5.What are the age requirements for a broker applicant and a salesperson
applicant, respectively?: Broker must be at least 20 years old; a
salesperson must be at least 18 years old.
6.Attorneys admitted to practice in the NY courts may act as brokers (help
you sell, buy and get commission) without obtaining a broker license.
However, under what circumstance must they obtain a real estate license?: If
they employ salespersons to work under their supervision
7.Do building superintendents and maintenance workers (who perform
tasks such as rent collection) for one owner or company require licensure?:
No
8.How long does a licensee have from the license expiration date to renew?-
: Two years
9.If a DOS officer appears and asks a licensee (you) for a photo ID, what
should the licensee (you) do?: The licensee must carry photo ID cards at
all times when doing business and show it on demand
10.Under the Real Property Law in New York, a branch office manager may
be a(n):: associate broker
11.What must brokers' business sign contain?: Broker's name and the
words "licensed real estate broker"
12.The listing salesperson must accept compensation directly from::
Spon- soring broker
13.When brokers improperly pay any part of their compensation to anyone
who is not license or who is not exempt from the license law, they violate
the license law. This payment is called a:: kickback
14.If licensees terminate their association with a broker, they must turn over
all obtained during their association with the broker.: listing
agreements and contracts
15.What is the mixing of the funds of others with business or personal
funds called, and what is the charge for it?: Commingling; misdemeanor.
16.What is the apportionment of other people's money from one use to
another called? (if a broker uses deposit money that does not yet belong to
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