NY Real Estate Exam Licensing Requirements 3 — Questions and Answers
Question 1: What is the minimum experience requirement for a New York salesperson applying for a broker license?
- 1 year as an active salesperson
- 2 years as an active salesperson within the past 5 years (Correct answer)
- 3 years as an active salesperson
- 5 years as an active salesperson
Correct answer: 2 years as an active salesperson within the past 5 years
Applicants for a NY broker license must have at least 2 years of experience as a licensed salesperson within the preceding 5 years.
Question 2: Which of the following individuals is EXEMPT from NY real estate licensing requirements?
- A property manager who collects rent for 10 different owners
- An attorney acting on behalf of their client in a real estate transaction (Correct answer)
- A licensed auctioneer selling commercial real estate
- A salaried employee who negotiates leases for their employer's buildings
Correct answer: An attorney acting on behalf of their client in a real estate transaction
Attorneys acting on behalf of a client in the ordinary course of practicing law are exempt from real estate licensing requirements in New York.
Question 3: A New York real estate license applicant who has been convicted of a felony:
- Is automatically barred from obtaining a license
- Must disclose the conviction; the DOS will consider it on a case-by-case basis (Correct answer)
- Must wait 10 years after the conviction before applying
- May only obtain a restricted license
Correct answer: Must disclose the conviction; the DOS will consider it on a case-by-case basis
The DOS reviews felony convictions on a case-by-case basis, considering factors such as the nature of the crime and rehabilitation.
Question 4: Under New York law, an associate broker differs from a salesperson in that an associate broker:
- Can operate independently without a sponsoring broker
- Has met broker qualifications but chooses to work under a broker (Correct answer)
- Can only work in commercial real estate
- Must own at least 10% of the brokerage
Correct answer: Has met broker qualifications but chooses to work under a broker
An associate broker has fulfilled all broker requirements but works under a sponsoring broker rather than operating independently.
Question 5: A New York real estate license that has expired can be reinstated within how many years without retaking the exam?
- 6 months
- 1 year
- 2 years (Correct answer)
- 5 years
Correct answer: 2 years
A lapsed New York real estate license may be reinstated within 2 years of expiration without requiring the applicant to retake the licensing examination.
Question 6: Which statement about a New York real estate broker's license is TRUE?
- A broker's license expires every year
- A broker may operate without maintaining an office
- A broker may work under another broker as an employee
- A broker's license is valid for 2 years (Correct answer)
Correct answer: A broker's license is valid for 2 years
New York broker licenses are valid for a 2-year term and must be renewed with the required continuing education.
Question 7: A New York real estate salesperson's license is INACTIVE when:
- The licensee fails a CE course
- The licensee is not associated with a sponsoring broker (Correct answer)
- The licensee moves out of state
- The licensee's broker retires
Correct answer: The licensee is not associated with a sponsoring broker
A salesperson's license becomes inactive whenever they are not affiliated with a licensed sponsoring broker.
NY Real Estate Exam Licensing Requirements 3
What is the minimum experience requirement for a New York salesperson applying for a broker license?