New York — Law of Agency (RPL §443) — New York Real Estate — State Law Practice Test
22 questions in this topic · 22 drawn at random this round
A New York buyer's agent makes first substantive contact with the seller of a one-family home. Under §443, to whom and when must the buyer's agent provide the agency disclosure form?
Session Progress
This New York Real Estate — State Law New York — Law of Agency (RPL §443) practice set has 22 practice questions based on the official exam materials, each with an instant explanation.
Sample questions
Three questions from the New York — Law of Agency (RPL §443) bank with the correct answer and an explanation. The practice quiz above draws 22 questions at random from the same bank.
Under New York's Real Property Law §443, what does "agent" mean for purposes of the agency disclosure law?
- A NY-licensed broker, associate broker, or salesperson who is acting in a fiduciary capacity — Correct answer
- Any person who arranges a real estate transaction, whether or not licensed
- Only the principal broker who holds the firm's license
- An attorney who reviews the purchase contract for a party
Explanation: Why: §443(1) defines an "agent" as a person licensed as a real estate broker, associate broker, or salesperson under §440-a who is acting in a fiduciary capacity. The defining feature is the fiduciary relationship, not merely holding a license. Agent（代理人）: a NY-licensed broker/associate broker/salesperson acting in a fiduciary capacity (§443(1)). NY source: RPL §443(1).
Handbook: New York Law of Agency — definition of agent (RPL §443(1))
Under RPL §443, which agency relationship makes the agent owe undivided loyalty and full fiduciary duties to the seller?
- Seller's agent — Correct answer
- Buyer's agent
- Dual agent
- Broker's agent
Explanation: Why: a seller's agent is a listing agent (or one cooperating with the listing agent, as a subagent or broker's agent) engaged to find or obtain a buyer; the seller is the principal to whom the agent owes undivided loyalty and fiduciary duties. Seller's agent（卖方代理人）: represents the seller and owes the seller full fiduciary loyalty (§443(1)). NY source: RPL §443(1).
Handbook: New York Law of Agency — seller's agent (RPL §443(1))
Under RPL §443, a NY agent who contracts to locate residential property for a buyer, presents the buyer's offer, and negotiates on the buyer's behalf is acting as which type of agent?
- Buyer's agent — Correct answer
- Seller's agent
- Transaction broker representing neither party
- Broker's agent engaged by the listing agent
Explanation: Why: §443(1) defines a buyer's agent as one who contracts to locate residential real property for a buyer (or finds a buyer for a property and presents an offer) and negotiates on behalf of the buyer; the buyer is the principal. Buyer's agent（买方代理人）: represents the buyer and negotiates on the buyer's behalf (§443(1)). NY source: RPL §443(1).
Handbook: New York Law of Agency — buyer's agent (RPL §443(1))