NYREI EXAMINERS TIP ALL QUESTIONS AND
ANSWERS SURE A+
✔✔Sally is interested in renting the other half of an owner-occupied duplex. She calls
the listing broker about it who tells her that the owner, his client, does not allow children.
Who, if anyone, is violating fair housing laws in this situation? - ✔✔both the broker and
the owner
✔✔Who pays the property taxes in a triple net lease? - ✔✔tenant
✔✔Which is an example of a general involuntary lien? - ✔✔mortgage
✔✔When finding comparable properties for a comparative market analysis, a real estate
agent will consider - ✔✔any home that is currently listed or recently sold.
✔✔Who is responsible for approving septic and other sanitation systems in New York
State? - ✔✔NYS Department of Environmental Conservation
✔✔Fred has missed two mortgage payments. What clause would allow his lender to
demand that he pay the entire balance now? - ✔✔acceleration clause
✔✔A husband and wife purchase a home. Unless specified otherwise, it is assumed
that they will take ownership as - ✔✔tenants by the entirety.
✔✔Title to a specific cooperative apartment is held by - ✔✔the corporation.
✔✔Each of these is a type of construction framing EXCEPT - ✔✔slab on grade
construction.
✔✔A _____ has a fiduciary obligation to a _____. - ✔✔property manager / property
owner
, ✔✔A valid deed must contain whose signatures? - ✔✔at least one grantee
✔✔The tenant signs a two-month lease on an apartment ending September 1. What
type of leasehold estate does this represent? - ✔✔estate for years
✔✔Craig owns a warehouse and his property taxes were recently raised. In turn, Craig
charged the tenant currently occupying the building additional operating expenses. This
is an example of - ✔✔a pass-through.
✔✔Which is a characteristic of a pro forma statement that is NOT a characteristic of an
operating statement? - ✔✔provides hypothetical data to assist in making decisions
✔✔A contract between a minor and an adult is - ✔✔voidable by the minor.
✔✔Ad valorem taxes are based on a property's - ✔✔assessed value
✔✔An amenity purchaser - ✔✔purchases multiple parcels and assembles them for
subdivision development.
✔✔In an advertisement for a four-bedroom home, which statement might be considered
discriminatory? - ✔✔beautiful home in an exclusive neighborhood
✔✔The STAR program provides a partial exemption to New York State homeowners for
- ✔✔school district taxes.
✔✔In New York, which cost at closing is most typically paid by the seller? - ✔✔real
property transfer tax
✔✔A listing broker must maintain a signed agency disclosure form - ✔✔for at least
three years after the transaction closes.
✔✔What is the preferred method of creating an agency relationship? - ✔✔expressed
agency
✔✔What is the minimum licensing requirement to sell commercial real estate in New
York? - ✔✔a real estate salesperson's license
✔✔Homeowner Frank is challenging the assessment of his property. Each of these
would be a valid reason to file a grievance EXCEPT - ✔✔the amount of the tax bill is too
high.
✔✔A property owner who needs a high limit of liability coverage would likely consider -
✔✔an umbrella policy.
ANSWERS SURE A+
✔✔Sally is interested in renting the other half of an owner-occupied duplex. She calls
the listing broker about it who tells her that the owner, his client, does not allow children.
Who, if anyone, is violating fair housing laws in this situation? - ✔✔both the broker and
the owner
✔✔Who pays the property taxes in a triple net lease? - ✔✔tenant
✔✔Which is an example of a general involuntary lien? - ✔✔mortgage
✔✔When finding comparable properties for a comparative market analysis, a real estate
agent will consider - ✔✔any home that is currently listed or recently sold.
✔✔Who is responsible for approving septic and other sanitation systems in New York
State? - ✔✔NYS Department of Environmental Conservation
✔✔Fred has missed two mortgage payments. What clause would allow his lender to
demand that he pay the entire balance now? - ✔✔acceleration clause
✔✔A husband and wife purchase a home. Unless specified otherwise, it is assumed
that they will take ownership as - ✔✔tenants by the entirety.
✔✔Title to a specific cooperative apartment is held by - ✔✔the corporation.
✔✔Each of these is a type of construction framing EXCEPT - ✔✔slab on grade
construction.
✔✔A _____ has a fiduciary obligation to a _____. - ✔✔property manager / property
owner
, ✔✔A valid deed must contain whose signatures? - ✔✔at least one grantee
✔✔The tenant signs a two-month lease on an apartment ending September 1. What
type of leasehold estate does this represent? - ✔✔estate for years
✔✔Craig owns a warehouse and his property taxes were recently raised. In turn, Craig
charged the tenant currently occupying the building additional operating expenses. This
is an example of - ✔✔a pass-through.
✔✔Which is a characteristic of a pro forma statement that is NOT a characteristic of an
operating statement? - ✔✔provides hypothetical data to assist in making decisions
✔✔A contract between a minor and an adult is - ✔✔voidable by the minor.
✔✔Ad valorem taxes are based on a property's - ✔✔assessed value
✔✔An amenity purchaser - ✔✔purchases multiple parcels and assembles them for
subdivision development.
✔✔In an advertisement for a four-bedroom home, which statement might be considered
discriminatory? - ✔✔beautiful home in an exclusive neighborhood
✔✔The STAR program provides a partial exemption to New York State homeowners for
- ✔✔school district taxes.
✔✔In New York, which cost at closing is most typically paid by the seller? - ✔✔real
property transfer tax
✔✔A listing broker must maintain a signed agency disclosure form - ✔✔for at least
three years after the transaction closes.
✔✔What is the preferred method of creating an agency relationship? - ✔✔expressed
agency
✔✔What is the minimum licensing requirement to sell commercial real estate in New
York? - ✔✔a real estate salesperson's license
✔✔Homeowner Frank is challenging the assessment of his property. Each of these
would be a valid reason to file a grievance EXCEPT - ✔✔the amount of the tax bill is too
high.
✔✔A property owner who needs a high limit of liability coverage would likely consider -
✔✔an umbrella policy.
