The given expression is a polynomial with three terms: 4y, 3y^3, and -2y^2. When divided by 3, each term is divided by 3 individually. The result of dividing 4y by 3 is (4/3)y. The result of dividing 3y^3 by 3 is y^3. The result of dividing -2y^2 by 3 is (-2/3)y^2. Finally, the constant term 5 is also divided by 3, resulting in (5/3). Therefore, the expression simplifies to (4/3)y + y^3 - (2/3)y^2 + (5/3), which is the answer.