NYS Real Estate Practice Exam 2022 with COMPLETE SOLUTION

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What agency issues real estate licenses? - ✔✔The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - ✔✔18 Do yo... u need experience in the field to become a sales person? - ✔✔No What is the minimum age to become a real estate broker? - ✔✔20 If your license is revoked, how long do you have to wait to re-apply for it? - ✔✔One year Do you need experience in the field to become a broker? - ✔✔Yes, at least 2 years of experience and 3200 points As a licensing salesperson, I can receive compensation from my? - ✔✔Sponsoring Broker As a real estate licensee you will more often than not be an ________, will receive a ____________ and will file a _____________ - ✔✔Independent contractor, 1099, Schedule C Attorneys admitted to the bar in NYS are _____ from the licensure law, unless they take on sales people - ✔✔Exempt If you mix your clients money with the office operating funds, it is called________ and you have violated which fiducary duty? - ✔✔Commingling funds and Accountability For how long does a broker need to keep his/her records for? [Show More]

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