Real estate ny - Study guides, Class notes & Summaries

STUDY GUIDE FOR THE NY REAL ESTATE EXAM ALREADY PASSED Independent contractor must pay their own expenses. According to IRS code section 3508[A, B], real estate agents are statutory non-employees and are therefore independent contractors. The code also states that there must be a written contract between the broker and the sales associate, also reviewed every 12-15 months · All records must be kept for 3 years · If sales associate not deemed independent then they will not be able to file "...

Independent contractor must pay their own expenses. According to IRS code section 3508[A, B], real estate agents are statutory non-employees and are therefore independent contractors. The code also states that there must be a written contract between the broker and the sales associate, also reviewed every 12-15 months · All records must be kept for 3 years · If sales associate not deemed independent then they will not be able to file "SCHEDULE C' of the federal return · The Independ...

NEW YORK REAL ESTATE EXAM /NY REAL ESTATE 2024 NEWEST EXAM VERSION A, B AND PRACTICE QUESTIONS EXAM 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT) /ALREADY GRADED A

STUDY GUIDE FOR THE NY REAL ESTATE EXAM

According to the New York State real property law, a real estate salespersons license is issued for a term of how many years? - ans 2 years 2. What type of residential real property transfer would require a property condition disclosure statement? - ans Newly constructed property that has not been previously inhabited 3. What happens to the licenses of salesperson's if they're sponsoring broker's license is revoked or suspended? - ans They are suspended 4. A listing broke...

1) If a Notary refuses to notarize an affidavit presented for NY notary Mobile services. What is the potential maximum jail sentence? A. One month. B. Three months C. Six months. D. One Year Correct Answer: D. One Year 2) The notary certificate of a witness to the execution of a real estate conveyance is called a: A. Qualified resident. B. Official Character C. Proof certificate D. None of the above Correct Answer: C. Proof certificate 3) Which of the following is in the ...

Real Estate U Pass the NY State Exam|Questions and Answers, 100% correct| 2023/2024 Real Estate U Pass the NY State Exam| Questions and Answers, 100% correct| 2023/2024 The Department of State - Primarily responsible for issuing real estate licenses, pocket cards, and handing down disciplinary action - Provides advertising guidelines for brokers Article 12-A of the NYS Real Property Law Outlines the roles/duties of the Department of State Commissions - Commissions are paid by the cl...

REVIEW QUESTIONS FOR NY REAL ESTATE EXAM 2023 1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead - Answer -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's license is a. 19. b. 18. c. 20. d. 21. - Answer C. As of July 1,2008 to become a broker you must be 20 years old. 3-Which of the following acts would...

NEW YORK REAL ESTATE EXAM /NY REAL ESTATE 2024 NEWEST EXAM VERSION A, B AND PRACTICE QUESTIONS EXAM 400 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT) /ALREADY GRADED A

Real Estate NYREI(question with complete solution)graded A+ 2023Section 3508 (a)(b) of IRS Code - correct answer real estate licensees are independent contractors article 12-A - correct answer NY Salesperson & broker license law real property law that governs agents and brokers Section 443 of NY Real Property Law - correct answer Agency disclosure listing contracts owned by - correct answer BROKER Joint tenancy unities - correct answer time, title, interest, possession (PITT) a...