NY Real Estate Exam NY Real Estate License Law & Regulations — Questions and Answers
Question 1: What is the minimum age requirement to obtain a real estate salesperson license in New York?
- 18 years old (Correct answer)
- 21 years old
- 16 years old
- 25 years old
Correct answer: 18 years old
New York requires real estate salesperson applicants to be at least 18 years of age, complete the 77-hour qualifying course, pass the state exam, and be sponsored by a licensed broker.
Question 2: How many hours of pre-licensing education are required for a NY real estate salesperson license?
- 77 hours (Correct answer)
- 40 hours
- 120 hours
- 30 hours
Correct answer: 77 hours
New York requires 77 hours of qualifying education from an approved school, covering topics including license law, real estate instruments, human rights law, and fair housing.
Question 3: What is the role of the NY Department of State (DOS) in real estate licensing?
- To administer real estate licensing exams, issue licenses, enforce regulations, and handle complaints against licensees (Correct answer)
- To set real estate prices
- To build affordable housing
- To manage property taxes
Correct answer: To administer real estate licensing exams, issue licenses, enforce regulations, and handle complaints against licensees
The Division of Licensing Services within the NY DOS oversees real estate licensing, including exam administration, license issuance and renewal, investigation of complaints, and enforcement of the Real Property Law.
Question 4: What is the continuing education requirement for NY real estate salespersons?
- 22.5 hours of continuing education every 2-year renewal cycle (Correct answer)
- No continuing education is required
- 10 hours per year
- 50 hours every 5 years
Correct answer: 22.5 hours of continuing education every 2-year renewal cycle
NY requires 22.5 hours of continuing education during each 2-year license renewal period, including specific topics like fair housing, agency law, ethics, and legal updates.
Question 5: What is Article 12-A of the NY Real Property Law?
- The primary law governing real estate brokers and salespersons in New York State (Correct answer)
- A law about property taxation
- A regulation about building codes
- A statute about eminent domain
Correct answer: The primary law governing real estate brokers and salespersons in New York State
Article 12-A establishes the licensing requirements, defines broker and salesperson duties, sets commission rules, outlines prohibited conduct, and provides enforcement mechanisms for real estate practitioners in New York.
Question 6: What is the difference between a real estate broker and a salesperson in NY?
- A broker can operate independently and employ salespersons; a salesperson must work under a broker's supervision (Correct answer)
- They have identical authority
- Salespersons earn higher commissions
- Brokers can only work in commercial real estate
Correct answer: A broker can operate independently and employ salespersons; a salesperson must work under a broker's supervision
Brokers have additional education (152 hours total), experience (minimum 2 years as salesperson), and can operate their own firm. Salespersons must be affiliated with and supervised by a licensed broker.
NY Real Estate Exam NY Real Estate License Law & Regulations
What is the minimum age requirement to obtain a real estate salesperson license in New York?