NY Real Estate Exam After-Test Procedures 3 — Questions and Answers
Question 1: What is the standard license term for a NY real estate salesperson license once it is issued?
- 1 year
- 2 years (Correct answer)
- 3 years
- 4 years
Correct answer: 2 years
NY real estate salesperson licenses are issued for a 2-year term and must be renewed before expiration.
Question 2: How many continuing education hours must a NY salesperson complete upon FIRST renewal of their license?
- 11 hours
- 22.5 hours (Correct answer)
- 22 hours
- 15 hours
Correct answer: 22.5 hours
Upon first renewal, NY salespersons must complete 22.5 hours of continuing education, including required topics.
Question 3: A salesperson's NY license expires while they are between brokers. What is the status of their license?
- Suspended
- Active but restricted
- Inactive (Correct answer)
- Automatically revoked
Correct answer: Inactive
A license without a sponsoring broker is placed in inactive status; the licensee cannot perform real estate activities.
Question 4: A NY salesperson changes their home address. They must notify the Department of State within:
- 10 days
- 30 days (Correct answer)
- 60 days
- 90 days
Correct answer: 30 days
NY licensees must notify the DOS of any address change within 30 days of the change.
Question 5: The NY DOS discovers a licensee submitted false information on their license application. The most likely consequence is:
- A written warning
- A fine of $100
- Revocation or denial of the license (Correct answer)
- Mandatory additional education hours
Correct answer: Revocation or denial of the license
Submitting false information is grounds for license revocation or denial under NY Real Property Law.
Question 6: After passing the NY real estate exam, which document is NOT required as part of the license application?
- Proof of 77-hour pre-licensing course completion
- Exam passing score report
- Proof of errors & omissions insurance (Correct answer)
- Completed DOS application form
Correct answer: Proof of errors & omissions insurance
E&O insurance is not required by NY DOS at the license application stage; it may be required by the sponsoring broker.
Question 7: Which NY state agency has authority to discipline a real estate licensee after they receive their license?
- The NY State Board of Realtors
- The Department of Financial Services
- The Department of State, Division of Licensing Services (Correct answer)
- The Attorney General's Office
Correct answer: The Department of State, Division of Licensing Services
The NY Department of State's Division of Licensing Services regulates and disciplines real estate licensees.
NY Real Estate Exam After-Test Procedures 3
What is the standard license term for a NY real estate salesperson license once it is issued?