NY Real Estate Exam · Free Sample Questions
3 free preview questions from Unlocked's NY exam question bank. Full access unlocks all questions across every topic, with detailed explanations.
Question 1 · Fiduciary Duties
Which fiduciary duty requires the agent to put the principal's interests before all others, including the agent's own financial interests?
Correct answer: A — Loyalty
The duty of loyalty requires the agent to act in the client's best interest at all times, avoiding self-dealing and conflicts of interest.
Question 2 · Confidentiality
A seller privately tells their listing agent they will accept $450,000, though they are listed at $480,000. A buyer later asks the agent what the lowest price the seller will accept. The agent should:
Correct answer: C — Tell the buyer they are not able to disclose that information
The seller's minimum acceptable price is protected confidential information. The agent's duty of confidentiality prohibits disclosure to the buyer. The agent must decline without lying.
Question 3 · Agency Disclosure
When must a NY licensee provide the Agency Disclosure Form to a prospective buyer?
Correct answer: D — At first substantive contact
NY RPL §443 requires the agency disclosure form at first substantive contact: the moment meaningful information about the buyer's needs or the property's price begins to be exchanged.
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Agency & Ethics: What the NY Real Estate Exam Tests
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