This law governs the practice of real estate salespersons and brokers Article 2 of the NYS Real Property Law Article 9 A of the NYS Real Property Law Article 10 A of the NYS Real Property Law Article 12 A of the NYS Real Property Law The section of the New York Real Property Law pertaining to real estate salespersons and brokers is known as Section 233 Article 12 A Article 78 Proceeding Multiple Listing Service How many hours of continuing education are required by salespersons and brokers 22 5 18 5 45 75 Which of the following may NOT lead to a salesperson losing his her license Offering properties for sale without the consent of the owner Operating as a dual agent Not acting in accordance with the anti discrimination laws Committing an act of fraud How many hours of course study must an individual take in order to sit for the New York State real estate salespersons exam 40 75 22 5 120 Which of the following is a requirement for obtaining a real estate broker's license Must be able to read efficiently Must have a college diploma Must be at least 20 years of age Must have a Masters degree in Real Estate According to Article 12 A of the NYS Real Property Law, which of the following actions requires a real estate license Visiting a property on behalf of another Negotiating a commercial loan secured by a mortgage on behalf of another Buying a single family home Reviewing an investment property on behalf of another Within how many business days does the Department of State require a salesperson to report any changes in name, status, or brokerage firm 7 10 15 5 How often must a real estate salesperson renew his her license 4 years 3 years 2 years 1 year David, a real estate salesperson, was subject to a fine by the Department of State for a material misrepresentation on his license application David challenged the State's fine through this proceeding Article 1 Proceeding Article 12 A Proceeding Article 10 Proceeding Article 78 Proceeding An appeal brought forth because of a ruling by a government agency is known as Article 78 Proceeding Article 12 A Exemption Change of Association According to Article 12 A of the NYS Real Property Law, which of the following actions does NOT require that an individual have a real estate license Collecting rent on behalf of another Negotiating a commercial loan on behalf of another Negotiating a sale on behalf of another Buying real estate as an investment How many hours of mandatory continuing education must a licensed real estate salesperson complete every two years 22 5 hours 16 hours 40 hours 12 5 hours Who is required to sign the Property Condition Disclosure Statement Only the buyer Only the seller Both the buyer and the seller The seller's agent An examination of a property's condition, usually performed in connection with the property's sale is known as a an Home Inspection Architectural Review Appraisal Environmental Report Which illegal act may lead to a real estate salesperson losing his her license Commingling of funds Accepting a bonus from their sponsoring broker Operating as a dual agent Earning a commission on a transaction To mingle or mix funds is known as what Escrow Commingling Blending Sponsoring Any person who, for a fee, arranges, conducts, coordinates, handles or causes meetings between a customer and the current owner or occupant of legally occupied real property, including apartment housing, who wishes to share that housing with one or more individuals is known as a an Real Estate Agent Real Estate Broker Apartment Sharing Agent Apartment Information Vendor The discontinuance of an agent's relationship with his her sponsoring broker is known as what Suspension Revocation Termination Rescind A card issued by the Department of State to each licensee is known as a NYS ID Real Estate ID Real Estate Card Pocket Card An individual who is licensed to negotiate and arrange real estate sales is known as a Real Estate Salesperson Real Estate Appraiser Mortgage Broker Home Inspector What discipline may be taken if a salesperson takes a property listing of a broker, after leaving that broker No discipline will be taken The salesperson may be fined by the broker The salesperson may have to share his her commission with the original broker The salesperson may lose his her license When is a real estate salesperson required to give notice to the Department of State When a salesperson changes sponsors When a salesperson earns a commission When a salesperson completes a transaction When an individual no longer works full time as a salesperson Which of the following actions by a salesperson may lead to the loss of his her license Not earning a commission in their first year as a salesperson Accepting a bonus from their sponsoring broker Operating as a dual agent Practicing law without being a lawyer Chris is a real estate broker involved in a residential transaction When Chris illegally places his client's funds into his personal account, what is he engaged in Blending of Funds Commingling of Funds Combining of Funds Escrow Which of the following is NOT included on a real estate salesperson's pocket card Photo Personal Address Name Business Address According to the Department of State, blind ads are considered what Beneficial Good for Business Ethical Illegal A licensed real estate broker that holds the license of a salesperson is known as what Sponsor Manager Associate Broker Employer Incapable of being recalled or revoked is also referred to as Escrow Disclosure Exemption Irrevocable Consent Which of the following professionals works under and or for a real estate broker Mortgage Broker Real Estate Attorney Mortgage Banker Associate Broker

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Posted on Jun 28, 2024

This law governs the practice of real estate salespersons and brokers...? Article 2 of the NYS Real Property Law Article 9-A of the NYS Real