New York Real Estate Licensing Basics

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NY licensing essentials

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New York Real Estate Licensing Basics


Froggy Jumps New York Real Estate Licensing BasicsVersión en línea NY licensing essentials por HEATHER 1 Which New York law primarily governs real estate licensing? a Article 12-A b Article 9 c Article 15 2 Which activity requires a real estate license in New York? a Delivering flyers b Negotiating a property sale for compensation c Scheduling appointments 3 Who is responsible for supervising a salesperson? a The Department of State b The sponsoring broker c The client 4 Which of the following is considered commingling? a Paying office rent b Depositing commissions into a business account c Mixing client escrow funds with personal funds 5 An advertisement that does NOT identify the brokerage firm is called: a A blind ad b A syndication ad c A net listing 6 Which person is generally exempt from needing a real estate license? a A property manager collecting rent for others b A homeowner selling their own property c A salesperson negotiating a lease 7 What is the purpose of real estate licensing laws? a To protect consumers and the public b To regulate home prices c To increase commissions 8 A salesperson changes brokerages. When may they legally perform licensed activities for the new broker? a Immediately after resigning b After notifying clients c Once the Department of State processes the transfer 9 Which activity may an unlicensed assistant legally perform? a Scheduling appointments b Conducting open houses alone c Negotiating contract terms 10 How often must New York real estate licensees complete continuing education for renewal? a Every 6 months b Every year c Every 2 years 11 Which of the following is considered a kickback violation? a Paying taxes on commission income b Advertising on social media c Receiving undisclosed payment for referrals 12 Who physically holds a salesperson’s license? a The sponsoring broker b The county clerk c The Department of State 13 Which of the following may result in Department of State disciplinary action? a Proper escrow handling b Truthful advertising c Misrepresentation of property conditions 14 What is the primary purpose of an escrow account? a To pay commissions directly to agents b To pay brokerage advertising expenses c To hold client funds securely 15 A real estate broker may face suspension or revocation of a license for: a Following advertising regulations b Maintaining records properly c Violating licensing laws or regulations

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New York Real Estate Licensing Basics

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New York Real Estate Licensing BasicsVersión en línea

por HEATHER

Which New York law primarily governs real estate licensing?

Which activity requires a real estate license in New York?

Who is responsible for supervising a salesperson?

Which of the following is considered commingling?

An advertisement that does NOT identify the brokerage firm is called:

Which person is generally exempt from needing a real estate license?

What is the purpose of real estate licensing laws?

A salesperson changes brokerages. When may they legally perform licensed activities for the new broker?

Which activity may an unlicensed assistant legally perform?

How often must New York real estate licensees complete continuing education for renewal?

Which of the following is considered a kickback violation?

Who physically holds a salesperson’s license?

Which of the following may result in Department of State disciplinary action?

What is the primary purpose of an escrow account?

A real estate broker may face suspension or revocation of a license for: