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New York Real Estate Salesperson Quiz

16 Questions
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Questions and Answers
  • 1. 
    • A. 

      18

    • B. 

      19

    • C. 

      21

    • D. 

      No age requirement

  • 2. 
    In order to be licensed as a broker, a salesperson must first complete:
    • A. 

      One year's experience as a salesperson

    • B. 

      Two year's experience as a salesperson

    • C. 

      An Associate of Arts degree in real estate

    • D. 

      A Bachelor of Arts degree in real estate

  • 3. 
    • A. 

      Place it in her personal checking account

    • B. 

      Place it in her business operating account immediately

    • C. 

      Place it in her escrow account immediately

    • D. 

      Place it in a safe deposit box

  • 4. 
    The type of listing that is illegal in NYS is:
    • A. 

      Open

    • B. 

      Exclusive agency

    • C. 

      Exclusive right to sell

    • D. 

      Net

  • 5. 
    • A. 

      Negotiating the exchange of real property for others

    • B. 

      Renting units for several different owners

    • C. 

      Auctioning real property

    • D. 

      Sale of a business where there is no real property

  • 6. 
    With regard to the resale of cooperative property for another, which of the following is necessary?
    • A. 

      A minimum of a salesperson license

    • B. 

      A minimum of a broker license

    • C. 

      A stock broker's license

    • D. 

      No license

  • 7. 
    • A. 

      Seller

    • B. 

      Cooperating broker

    • C. 

      Employing broker

    • D. 

      Customer

  • 8. 
    Unlicensed assistants may NOT:
    • A. 

      Write ad copy

    • B. 

      Type offers to purchase

    • C. 

      Assemble information for a comparative market analysis

    • D. 

      Make a listing presentation

  • 9. 
    Which of the following are NOT exempt from licensure?
    • A. 

      Attorneys licensed to practice in New York

    • B. 

      Public officers

    • C. 

      Trustees of a bankruptcy

    • D. 

      Property managers working for more than one owner

  • 10. 
    In New York, dual agency is:
    • A. 

      A violation of Article 12-A of the license law

    • B. 

      Allowable with respect to commercial transactions only

    • C. 

      Allowable under the New York law with disclosure and informed consent

    • D. 

      A violation of the agency laws of New York

  • 11. 
    An agency relationship created by an oral or written agreement between principal and agent is known as an:
    • A. 

      Implied agency

    • B. 

      Express agency

    • C. 

      Express single agency

    • D. 

      Implied dual agency

  • 12. 
    • A. 

      Exclusive agency

    • B. 

      Open listing

    • C. 

      Net listing

    • D. 

      Exclusive right to sell

  • 13. 
    An "exclusive right to sell" listing provides a:
    • A. 

      Commission to the agent no matter who sells the property

    • B. 

      Full commission to the seller if the principal sells the property

    • C. 

      Commission to the agent whether the property is sold or not

    • D. 

      Commission to the agent only if the principal sells the property

  • 14. 
    The broker must keep the declaration of refusal to sign the disclosure form for a period of:
    • A. 

      1 year

    • B. 

      2 years

    • C. 

      3 years

    • D. 

      4 years

  • 15. 
    Where can I take the complete New York Real Estate Practice Quiz for free with over 100 questions?
    • A. 

      Http://www.therealmanhattan.com/agents/index.html

    • B. 

      Http://www.therealmanhattan.com/agents/index.html

    • C. 

      Http://www.therealmanhattan.com/agents/index.html

    • D. 

      Http://www.therealmanhattan.com/agents/index.html

  • 16. 
    • A. 

      Copy this url - http://www.therealmanhattan.com/agents/index.html - and paste it into your browser's address bar.

    • B. 

      Copy this url - http://www.therealmanhattan.com/agents/index.html - and paste it into your browser's address bar.

    • C. 

      Copy this url - http://www.therealmanhattan.com/agents/index.html - and paste it into your browser's address bar.

    • D. 

      Copy this url - http://www.therealmanhattan.com/agents/index.html - and paste it into your browser's address bar.