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York Real Estate Exam Questions & Answers 2026 (21–30)

York Real Estate practice questions and answers 2026. Tap an option to test yourself — you'll see the correct answer and a plain-English explanation for every question. Free, no login.

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  1. Q21When a salesperson works as a BUYER'S AGENT, their primary fiduciary duty is to the:

    • ASeller, because the seller pays the commission
    • BBuyer, who is the agent's principal
    • CListing broker who is sharing the commission
    • DMultiple Listing Service
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    ✓ Correct answer: B. Buyer, who is the agent's principal

    A buyer's agent owes full fiduciary duties to the buyer regardless of how the commission is structured. The source of payment does not determine agency.

    Topic: Agency

  2. Q22Which of the following is NOT a typical duty owed by a buyer's agent to their client?

    • AAdvising the buyer about comparable sales prices
    • BDisclosing known material defects in properties the buyer considers
    • CMarketing the property to the widest possible audience
    • DNegotiating the purchase price in the buyer's best interest
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    ✓ Correct answer: C. Marketing the property to the widest possible audience

    Marketing the property is the seller's agent's responsibility. A buyer's agent searches for properties and negotiates on behalf of the buyer, not the seller.

    Topic: Agency

  3. Q23A buyer's agent who is compensated through the listing broker's commission split is BEST described as receiving:

    • AAn illegal kickback that must be disclosed to the buyer
    • BA flat referral fee paid by the buyer at closing
    • CA co-brokerage fee that eliminates fiduciary duty to the buyer
    • DCompensation from the transaction that does not alter the agent's fiduciary obligation to the buyer
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    ✓ Correct answer: D. Compensation from the transaction that does not alter the agent's fiduciary obligation to the buyer

    The payment mechanism does not change agency obligations. A buyer's agent can receive compensation from the seller's proceeds (via commission split) and still owe full fiduciary duties to the buyer.

    Topic: Agency

  4. Q24Dual agency occurs when a licensee represents:

    • ABoth the buyer and the seller in the same transaction
    • BTwo sellers for similar properties at the same time
    • CA buyer who is purchasing two properties simultaneously
    • DA broker who also acts as the selling salesperson
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    ✓ Correct answer: A. Both the buyer and the seller in the same transaction

    Dual agency arises when the same agent (or brokerage) represents both the buyer and the seller in a single transaction, creating a potential conflict of interest.

    Topic: Agency

  5. Q25In New York State, dual agency is legal ONLY when:

    • AThe broker reduces their commission to reflect the split loyalty
    • BBoth the buyer and the seller provide informed written consent
    • CThe transaction involves a residential property worth less than $1 million
    • DThe salesperson obtains approval from the Department of State
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    ✓ Correct answer: B. Both the buyer and the seller provide informed written consent

    New York law (Real Property Law § 443) requires that both parties give their informed written consent before a licensee may act as a dual agent. Without this consent, dual agency is illegal.

    Topic: Agency

  6. Q26In a disclosed dual agency, which duty is SIGNIFICANTLY REDUCED for the agent?

    • AThe duty to account for all funds
    • BThe duty to treat both parties honestly
    • CThe duty to disclose known material defects
    • DThe duty to actively negotiate in the best interest of each party
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    ✓ Correct answer: D. The duty to actively negotiate in the best interest of each party

    A dual agent cannot vigorously negotiate for one party against the other since both are clients. Active negotiation in one party's best interest is reduced; however, duties of honesty, accounting, and disclosure of material defects remain.

    Topic: Agency

  7. Q27Designated agency in New York is designed to address the conflict of dual agency by:

    • AEliminating the need for written agency disclosure
    • BAllowing a salesperson to represent both parties if the broker steps aside
    • CDesignating specific salespersons within one brokerage to exclusively represent each party
    • DSplitting the commission so each designated agent is paid separately
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    ✓ Correct answer: C. Designating specific salespersons within one brokerage to exclusively represent each party

    Designated agency allows the broker to assign different salespersons — one to represent the buyer and one to represent the seller — within the same firm, so each party has their own advocate and full fiduciary duties are maintained.

    Topic: Agency

  8. Q28Under New York's designated agency rules, the BROKER in a designated agency transaction owes the parties:

    • ADual agency duties (limited loyalty) because the broker supervises both designated agents
    • BFull fiduciary duties to both parties identical to those of each designated agent
    • CNo duties at all since the designated agents handle the transaction
    • DOnly ministerial duties, such as coordinating the closing date
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    ✓ Correct answer: A. Dual agency duties (limited loyalty) because the broker supervises both designated agents

    Even when designated agents represent each side, the supervising broker technically occupies a dual agency position and owes limited (dual agent) duties to both parties, while each designated salesperson owes full fiduciary duties to their respective client.

    Topic: Agency

  9. Q29New York Real Property Law § 443 requires licensees to provide an agency disclosure form to prospective clients:

    • AOnly if the transaction involves new construction
    • BAt the first substantive contact with a buyer or seller
    • CAt the time of the closing
    • DWithin 48 hours of signing a listing agreement
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    ✓ Correct answer: B. At the first substantive contact with a buyer or seller

    RPL § 443 mandates that the NY Agency Disclosure form be presented to buyers and sellers at the first substantive (meaningful) contact — not at contract signing or closing.

    Topic: Agency

  10. Q30If a buyer REFUSES to sign the NY Agency Disclosure form, the licensee should:

    • ARefuse to work with the buyer until they sign
    • BPresent the form only at the closing and note the refusal there
    • CSkip the disclosure requirement, as it is optional for buyers
    • DNote the refusal on the form, sign it, and retain a copy
    Show answer

    ✓ Correct answer: D. Note the refusal on the form, sign it, and retain a copy

    Under RPL § 443, if the buyer or seller refuses to sign the disclosure form, the agent must note the refusal, sign the form themselves, and retain a copy. The agent may still proceed with the transaction.

    Topic: Agency

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