License Law and Regulations

Theresa let her real estate license lapse a few months ago, but she's thinking about reactivating it. If she meets all the requirements for renewal within ________ of the expiration of her license, she won't have to retake the state licensing exam.

2 years

To earn your real estate license, you must answer at least ________ of the questions correctly on the state licensing exam.

70%

Which of the following license types involves charging a fee to provide information to consumers regarding the location and availability of residential real property for rent? Appraiser Apartment Information Vendor Home Inspector Mortgage Broker

Apartment Information vendor

Samuel, a newly licensed salesperson, just received his pocket card. When is Samuel required to carry the pocket card with him?

At all times when conducting business

Which of the following individuals may operate without a real estate license? Bill, who is a property manager for one property owner Diana, who represents property sellers exclusively Frank, who represents property buyers exclusively Heather, who represents both property sellers and buyers

Bill, who is a property manager for one property owner

Paul allows his real estate license lapse. One year later, he decides to reactivate his license. To do so, he needs to _________.

Complete all of the requirements for renewal by meeting the CE requirement, submitting the application, and paying a fee

Nonresident applicants applying for New York real estate licensure must agree to submit to the jurisdiction of New York courts. What form must they also complete?

Irrevocable consent and designation form

Which list of items will you find on a licensee's New York pocket card?

The licensee's name, business address, and sponsoring broker's name.

A person performing real estate activities under the judgment or order of a court, such as a trustee in a bankruptcy, is _______.

an exception to the real estate licensing requirements

Dexter is a nonresident real estate licensee based in Pennsylvania. Because of the uniform irrevocable consent and designation form, if he violates New York real estate law, any summons for him ________.

may be served on the NYS Secretary of State and need not be served directly on Dexter