NYS Real Estate U Final Exam Latest Update

NYS Real Estate U Final Exam Latest Update 2025-2026 200 Questions and 100% Verified Correct Answers Guaranteed A+

• A card issued by the Department of State to each licensee which contains the

photo, name and business address of the licensee, and, in the case of a real estate salesperson, the name and business address of the broker with whom he or she is associated and shall certify that the person whose name appears thereon is a licensed real estate broker or salesperson.

• Must be carried by the agent at all times when serving as a salesperson. - CORRECT

ANSWER: Pocket Card

• A crime punishable by up to a year in prison and/or a $1,000 fine. - CORRECT

ANSWER: Misdemeanor

• A licensed real estate broker that holds the license of a salesperson. - CORRECT

ANSWER: Sponsor

• A person that provides services to another under

terms specified in a contract or within a verbal agreement. An independent contractor is not an employee.

• The agent does not have to work in a specific location

- The broker cannot control the agent's work activities - CORRECT ANSWER:

Independent Contractor Relationship

• A person who on behalf of or for the benefit of another transacts business or 1 / 3

handles money or property not the person's own; such relationship implies great confidence and

trust. - CORRECT ANSWER: Fiduciary

• A written explanation, to

be signed by a prospective buyer or seller of real estate, explaining to the client the role that the broker plays in the transaction.

- First document to be submitted to all prospective clients - CORRECT ANSWER:

Disclosure Regarding Real Estate Agency Relationships Form

- Agent may be liable for costly mistakes. - CORRECT ANSWER: Reasonable Care

• Agent must act in accordance to clients demands/instructions. - CORRECT ANSWER:

Obedience

• Agent must communicate with client/must present all offers. - CORRECT ANSWER:

Disclosure of Information

• Agent must work in the best interest of the client. - CORRECT ANSWER: Loyalty

• All confidential information as described by client must remain so unless given

permission in writing. - CORRECT ANSWER: Confidentiality

• An agreement between members of a trade conspiring to refrain from competition in

specific market areas. - CORRECT ANSWER: Market Allocation

• An agreement of employment of a broker to the exclusion of all other brokers; if sale is

made by any other broker during term of employment, broker holding 2 / 3

exclusive agency is entitled to commissions in addition to the commissions payable to the broker who effected the transaction

- Made between a broker and a seller - CORRECT ANSWER: Exclusive Agency

• An employment contract between principal and agent, authorizing the

agent to perform services for the principle involving the latter's property - CORRECT

ANSWER: Listing Agreement

• Conspiring to establish fixed fees or prices for services or products. - CORRECT

ANSWER: Price Fixing

• Obedience
• Loyalty
• Disclosure
• Confidentiality
• Accountability

- Reasonable Care - CORRECT ANSWER: OLD CAR

• Obtained after you register for the New York State

Salesperson exam using eAccessNY. You must bring your "Summary of Your Submission" with

you when taking the State exam. - CORRECT ANSWER: "Summary of Your

Submission"

- One of the more serious fiduciary responsibilities. - CORRECT ANSWER:

Accountability

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