NY Real Estate Exam After-Test Procedures 4

Question 1

A NY real estate salesperson who fails to renew their license before it expires must:

Accepted Answer

Pay a late fee and may reinstate within 2 years without retesting

Answer

Immediately retake the 77-hour pre-licensing course

Answer

Retake and pass the state exam

Answer

Apply for a temporary permit

Question 2

After receiving a NY real estate license, a salesperson may legally collect a commission from:

Accepted Answer

Only their sponsoring broker

Answer

Any party in a transaction

Answer

Only the buyer

Answer

Only sellers who sign a listing agreement

Question 3

The NY DOS sends a renewal notice to a salesperson's address on file. If the salesperson does not receive it, they are:

Accepted Answer

Still responsible for renewing on time

Answer

Exempt from renewal until notified

Answer

Entitled to a 6-month extension

Answer

Required to file a complaint with DOS

Question 4

When a NY salesperson transfers to a new broker, which of the following must occur?

Accepted Answer

Only the new broker files a sponsorship form with DOS

Answer

The salesperson must retake the state exam

Answer

Both the old and new broker must file transfer forms with DOS

Answer

The salesperson must apply for a new license

Question 5

A NY salesperson's license is currently inactive. They may:

Accepted Answer

Perform no real estate activities

Answer

Show properties but not write contracts

Answer

Work under a temporary broker permit

Answer

Collect referral fees from former clients

Question 6

Which of the following is a required topic in the NY 22.5-hour continuing education curriculum?

Accepted Answer

Fair housing and/or discrimination

Answer

Home inspection techniques

Answer

Property tax assessment appeals

Answer

Mortgage underwriting standards

Question 7

After a salesperson passes the NY exam and their application is approved, the DOS will:

Accepted Answer

Issue the license electronically; a pocket card can be printed

Answer

Mail a physical license certificate automatically

Answer

Send the license to the sponsoring broker only

Answer

Require the salesperson to pick up the license in person