The Ultimate Real Estate Knowledge Test

123 Questions | Total Attempts: 127

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Real Estate Quizzes & Trivia

Welcome to the ultimate Real Estate kowledge test. Real estate is the term given to any property consisting of land and the buildings within it, including any of its resources such as crops, minerals, or water – it is also the term given to the business of this property.


Questions and Answers
  • 1. 
    Sellers employ a broker to sell their home through the use of which of these documents
    • A. 

      Buyer Agency agreement

    • B. 

      Listing contract

    • C. 

      Purchase contract

    • D. 

      Seller agency agreement

  • 2. 
    Which of the following licenses is $50?
    • A. 

      Salesperson

    • B. 

      Associate broker

    • C. 

      Broker

    • D. 

      Branch office

  • 3. 
    Which section of NY Real Property Law gives authority to the department of state to regulate real estate brokers and salespersons?
    • A. 

      Article 12-A

    • B. 

      Article 78

    • C. 

      Article 12

    • D. 

      Article 9-a

  • 4. 
    How many members are on the Board of Real Estate?
    • A. 

      13

    • B. 

      9

    • C. 

      12

    • D. 

      15

  • 5. 
    What are the experience requirements for a broker candidate
    • A. 

      One full year of experience as a licensed salesperson OR two years of equivalent experience in some other aspect of real estate

    • B. 

      2 full years of experience as a licensed salesperson AND three years of equivalent experience in some other aspect of real estate

    • C. 

      1 full year of experience as a licensed salesperson AND 2 years of equivalent experience in some other aspect of real estate

    • D. 

      2 full years of experience as a licensed salesperson OR three years of equivalent experience in some other aspect of real estate

  • 6. 
    Which of the following statements is false?
    • A. 

      A real estate broker means any person, firm, limited liability company or corporation who performs real estate activities for a fee, commission or other consideration

    • B. 

      An associate broker may not maintain a separate real estate brokers license

    • C. 

      A broker is responsible for managing and supervising all affiliated licensees

    • D. 

      An associate broker has a responsibility to be fair and competent when dealing with the public

  • 7. 
    From whom can a salesperson receive compensation
    • A. 

      From any broker he or she works for

    • B. 

      From a broker or client

    • C. 

      From his or her sponsoring broker only

    • D. 

      From the broker or another licensee in the same firm

  • 8. 
    Which of the following is NOT a mission of the Division of Licensing?
    • A. 

      To protect the health, safety and welfare of consumers

    • B. 

      To provide accurate info and qualified licensees to the business community

    • C. 

      To provide a vehicle for hearings for license law violations

    • D. 

      To provide efficient processing and examination services to license applicants

  • 9. 
    How old must a candidate for a broker's license be?
    • A. 

      18

    • B. 

      19

    • C. 

      20

    • D. 

      21

  • 10. 
    How many Board members does the governor appoint
    • A. 

      5 brokers and no public members

    • B. 

      4 brokers and 3 public members

    • C. 

      3 brokers and 4 public members

    • D. 

      1 broker and 1 public member

  • 11. 
    How often must a licensee renew his or her license
    • A. 

      Every year

    • B. 

      Every 2 years

    • C. 

      Every 3 years

    • D. 

      Every four years

  • 12. 
    Which statement is true about pocket cards
    • A. 

      The broker is responsible for distributing them to his or her licensees

    • B. 

      They must be prominently displayed on broker's wall

    • C. 

      They are a kind of miniature license that licensees must carry and show on demand

    • D. 

      They must be shown to any potential customer before the licensee can schedule any showings

  • 13. 
    A broker must keep records of transactions on file for how long
    • A. 

      1 year

    • B. 

      2 years

    • C. 

      3 years

    • D. 

      Until the Department of State audits the records

  • 14. 
    Where must the broker place his sign at his place of business
    • A. 

      Inside the office door

    • B. 

      Above the broker's desk

    • C. 

      On the mailbox

    • D. 

      Outside the building and visible from sidewalk

  • 15. 
    What is the form called that nonresident brokers must submit that allows them to be sued in NY state
    • A. 

      Non-compete form

    • B. 

      Subordination form

    • C. 

      Irrevocable consent form

    • D. 

      Judicial consent form

  • 16. 
    How many hours of continuing education are required for license renewal
    • A. 

      21.5

    • B. 

      22.5

    • C. 

      23.5

    • D. 

      24.5

  • 17. 
    When a licensee terminates his or her association with a firm which statement is true?
    • A. 

      The licensee may take his or her listings to the new firm

    • B. 

      The licensee must turn over any listings provided by the broker but can take those listings he or she acquired

    • C. 

      The licensee must turn over any and all listing information she obtained during the association

    • D. 

      The new sponsoring broker can take over any listings acquired by the newly employed licensee

  • 18. 
    When did NY begin to require home inspectors to be licensed
    • A. 

      2005

    • B. 

      2006

    • C. 

      2007

    • D. 

      Inspectors are not required to be licensed

  • 19. 
    If there is a change of broker and/or address how long does the licensee have to complete and submit the form to Department of State
    • A. 

      5 days

    • B. 

      7 days

    • C. 

      2 weeks

    • D. 

      1 month

  • 20. 
    Which of the following courses would not be acceptable to meet the continuing ed requirement
    • A. 

      Residential mortgages

    • B. 

      Property management

    • C. 

      Exchanging techniques

    • D. 

      Basic computer skills

  • 21. 
    Which of these is not a law violation?
    • A. 

      Failing to deliver duplicate documents for a real estate transaction to all the appropriate parties

    • B. 

      Offering a property for sale or lease without the owner's permission

    • C. 

      Accepting compensation for more than one party in a transaction without the knowledge and written consent of all parties

    • D. 

      Placing a sign on a property with the owner's permission

  • 22. 
    The section of a hearing decision that describes what the respondent may have done is called what?
    • A. 

      Determination

    • B. 

      Complaint

    • C. 

      Opinion

    • D. 

      Findings

  • 23. 
    What is a hearing appeal to the NY Supreme Court called?
    • A. 

      Article 12-A appeal

    • B. 

      Article 8 proceeding

    • C. 

      State court appeal

    • D. 

      Article 78 proceeding

  • 24. 
    Which of these activities is prohibited for an unlicensed assistant?
    • A. 

      Hold an open house

    • B. 

      Place a classified ad

    • C. 

      Compute commission checks

    • D. 

      Submit listing to the MLS

  • 25. 
    What is the penalty for conviction of a misdemeanor
    • A. 

      1000 fine only

    • B. 

      One year in prison only

    • C. 

      Either fine, imprisonment, or both

    • D. 

      $5,000 fine

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