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

NY allows expired licensees to reinstate their license within 2 years of expiration by paying a late renewal fee without retaking the exam.

Question 2

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

Accepted Answer

Only their sponsoring broker

Answer

Under NY law, a salesperson can only receive commission from their own sponsoring broker, not directly from clients.

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

Licensees are responsible for tracking their own renewal dates; failure to receive a notice does not excuse late renewal.

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

Upon transferring, the new sponsoring broker files a sponsorship form with the DOS; no new license or exam is required.

Question 5

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

Accepted Answer

Perform no real estate activities

Answer

An inactive licensee is prohibited from performing any real estate brokerage activities until the license is reactivated with a sponsoring broker.

(NY Real Estate Exam) New York Real Estate Exam Practice Test