New York Real Estate Salesperson Quiz
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Living in New York is the dream of most Americans due to the opportunities it has and how it is welcoming to outsiders with the promise of growth. Getting a place to live around the city can be a little of a hustle unless you have good connections. Are you planning on becoming a real estate salesperson in New York? Take this test and see how much you know about the area.
- 1.How old must an individual be to obtain a salesperson license?
- 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.Jane is a broker and accepts a $3,000 deposit. What should she do with the deposit?
- 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 NYC is:
- A.
Open
- B.
Exclusive agency
- C.
Exclusive right to sell
- D.
Net
- 5.Which of the following duties does NOT require real estate licensure?
- 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.The listing salesperson must accept compensation directly from the:
- 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.The type of legal listing agreement which is least desirable for for the broker is a(n):
- 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
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