Real Estate 3

The hearing decision section that cites the penalty that the court is imposing on the respondent is called?

• The Verdict

• The Opinion and Conclusions of Law

• The Findings

• The Determination

Which of the following is NOT a violation of NY real estate license law?

• Delivering duplicate documents for a real estate transaction to all parties to the transaction

• Commingling business funds with client funds

• Entering into a net listing contract

• Omitting definitions of exclusive right to sell and exclusive agency listings from information provided to clients

Once the licensee has received a revocation or suspension notice, the licensee’s license and pocket card must be returned to the Department within______days after receiving the notice.

• 2

• 3

• 4

• 5

Which section of a hearing decision outlines what the court believes happened?

• Complaint

• Findings of fact

• Opinion and conclusions of Law

• Determination

What is an Article 78 proceeding?

• A complaint hearing

• Mediation of charges based on a complaint

• A judicial appeal

• A penalty imposition

Under which of the following circumstances would a broker lose or have their license suspended for a law violation committed by an associated licensee?

• If the broker had actual knowledge of the violation.

• Under any circumstance, the department applies strict liability to all managing brokers.

• Only If the broker had participated in the law violation with the associate

• A broker is never responsible for the acts of associates due to the doctrine of caveat emptor.

In the case studies, the Department of State is always which party?

• Complainant

• Licensee

• Respondent

• Attorney general

Which of the following statements is FALSE?

• A violation of license law constitutes a misdemeanor.

• The DOS can impose a fine of up to $5,000.

• The licensee may be fined up to $1,000 for the violation.

• The licensee may receive a 1-year prison sentence for the violation.

What is the penalty for conviction of a misdemeanor?

• $1,000 fine only

• One year in prison only

• Either fine, imprisonment or both

• $5,000 fine

Which section of a hearing decision explains what violations the respondent committed?

• Complaint

• Findings of fact

• Opinion and Conclusions of Law

• Determination