Nyrei state Study guides, Class notes & Summaries

Which is the law that allows one to appeal a decision made by DOS? article 78 Real estate professionals are required to take how many hours of continuing education every two years? 22.5 What is the term when another state will recognize the qualifications and education held by a New York licensee when applying for a real estate license in that state? reciprocal What is the license which allows one to deal with apartments and charge fees? apartment information vendor ...

Planning board = - ANSWER Comprehensive Board What is the right that government can take property for the public good? - ANSWER Eminent Domain How long is your NY real estate license issued for? - ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - ANSWER Property Condition Disclosure Form What do brand new properties require? - ANSWER A Warranty What happens to you if your broker is s...

NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license What is the preferred method of creating an agency relationship? expressed agency An amenity purchaser occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. real / deed A salesperson who is an independent contractor is not subject to withholding r...

NYREI Exam Review (1-10) Questions and Answers (Graded A) According to IRS code, licensed re agents are: - ANSWER ️️ statutory non- employees who are treated as independent contractors for tax purposes Each licensed broker shall keep and maintain records for: - ANSWER ️️ 3 years Brokers can provide ______, but salespersons are responsible for _____ incurred - ANSWER ️️ office and supplies, expenses Who issues real estate licenses - ANSWER ️️ NY State Dept of State's Divisi...

NYREI Test Prep UPDATED Exam Questions and CORRECT Answers Where is license law written? - CORRECT ANSWER- Article 12A of NY State Real Property Law Who is responsible for administrative discipline of real estate licensees? - CORRECT ANSWER- Department of State (DOS) or Secretary of State Under NYS Real Property Law, when Dept. of State revokes a salesperson license, the salesperson can't be relicensed until how much time has expired? - CORRECT ANSWER- 1 yea

NYREI Study Guide with complete solutions (Graded A) Article 12A, Licensee - CORRECT ️️ -Real Estate License Law -Licensee is a broker or salesperson who holds a NY state real estate license -Can't work in real estate unless the licensee has a license broker to supervise -If a salesperson or broker's license is revoked, the licensee must wait 1 year to apply to get their license back Licensee - CORRECT ️️ is a broker or salesperson who holds a NY state real estate license Capit...

NYREI Review Packet UPDATED Exam Questions and CORRECT Answers What agency issues real estate licenses? - CORRECT ANSWER- Department of State or Division of licensing Services At what age can you become a real estate salesperson? - CORRECT ANSWER- 18 Do you need experience in the field to become a salesperson? - CORRECT ANSWER- No What is the minimum age to become a real estate broker? - CORRECT ANSWER- 20