NYREI 2026 EXAM TEST PAPER QUESTIONS
AND ANSWERS SURE A+
✔✔Someone walks into an open house. The listing agent must present an agency
disclosure before - ✔✔any confidential information is exchanged.
✔✔A buyer makes an offer, contingent on selling his house first. What clause can be
included in the sales contract that would allow the seller to pursue other buyers in the
meantime? - ✔✔escape clause
Which pair could be used in a tax-deferred like-kind exchange?
condominium in Hilton Head for a condominium in Costa Rica
✔✔A salesperson who is an independent contractor - ✔✔has taxes withheld from her
paycheck.
✔✔A seller client has vicarious liability for each of these EXCEPT a - ✔✔broker's agent.
✔✔What is it called when a lender evaluates a prospective buyer and documents, in
writing, that he is willing to loan this buyer up to a certain amount of money? - ✔✔pre-
approval
✔✔When a licensee is the client's designated agent, the client gives up the agent's duty
of - ✔✔undivided loyalty.
✔✔A licensed salesperson acting as a subagent can receive commission payments -
✔✔only from his or her employing broker.
✔✔A zoning board of appeals - ✔✔rules on requests for variances.
✔✔As a measure of the force that pushes electricity through a wire, residential circuits
operate at a minimum of: - ✔✔110 volts.
, ✔✔ABC Utility Company has the right to enter a homeowner's property to repair electric
lines. What kind of easement does this represent? - ✔✔easement in gross
Net square footage refers to
usable space.
✔✔Which is an example of a limited common area at a condominium with garden
apartments? - ✔✔swimming pool that everyone uses
✔✔Condominium units are considered _____ property and are conveyed by _____. -
✔✔personal / proprietary lease
✔✔ABC Mortgage Company loaned Judy $180,000 to buy a house. A week later, they
sold her mortgage on the secondary market. Who most likely bought Judy's mortgage? -
✔✔the Federal National Mortgage Association
✔✔Opal lives in an apartment that is going cooperative. The current residents are given
the first option to buy in, and Opal decides to take advantage of the opportunity. Which
statement about Opal's new co-op is FALSE? - ✔✔She will own the airspace inside her
co-op fee simple.
✔✔A mortgage loan originator can perform each of these activities EXCEPT - ✔✔lend
money.
✔✔The fullest interest in property is known as what kind of estate? - ✔✔fee simple
estate
✔✔Under what circumstance is a deed restriction most likely to be removed? - ✔✔The
deed restriction prohibits minorities from owning the property.
✔✔Sue faces possible foreclosure, and contacts a mortgage lender whose ad promises
to save her home for her. At closing, Sue sees that the lender changed the terms of the
loan that they had agreed to, but she felt she had no choice but to go ahead with the
loan or lose her house. This is an example of - ✔✔predatory lending.
✔✔Which agency issues real estate licenses in the State of New York?
Select one: - ✔✔the Department of State
✔✔ block and lot - ✔✔Which type of legal description uses a survey map of a
subdivision?
AND ANSWERS SURE A+
✔✔Someone walks into an open house. The listing agent must present an agency
disclosure before - ✔✔any confidential information is exchanged.
✔✔A buyer makes an offer, contingent on selling his house first. What clause can be
included in the sales contract that would allow the seller to pursue other buyers in the
meantime? - ✔✔escape clause
Which pair could be used in a tax-deferred like-kind exchange?
condominium in Hilton Head for a condominium in Costa Rica
✔✔A salesperson who is an independent contractor - ✔✔has taxes withheld from her
paycheck.
✔✔A seller client has vicarious liability for each of these EXCEPT a - ✔✔broker's agent.
✔✔What is it called when a lender evaluates a prospective buyer and documents, in
writing, that he is willing to loan this buyer up to a certain amount of money? - ✔✔pre-
approval
✔✔When a licensee is the client's designated agent, the client gives up the agent's duty
of - ✔✔undivided loyalty.
✔✔A licensed salesperson acting as a subagent can receive commission payments -
✔✔only from his or her employing broker.
✔✔A zoning board of appeals - ✔✔rules on requests for variances.
✔✔As a measure of the force that pushes electricity through a wire, residential circuits
operate at a minimum of: - ✔✔110 volts.
, ✔✔ABC Utility Company has the right to enter a homeowner's property to repair electric
lines. What kind of easement does this represent? - ✔✔easement in gross
Net square footage refers to
usable space.
✔✔Which is an example of a limited common area at a condominium with garden
apartments? - ✔✔swimming pool that everyone uses
✔✔Condominium units are considered _____ property and are conveyed by _____. -
✔✔personal / proprietary lease
✔✔ABC Mortgage Company loaned Judy $180,000 to buy a house. A week later, they
sold her mortgage on the secondary market. Who most likely bought Judy's mortgage? -
✔✔the Federal National Mortgage Association
✔✔Opal lives in an apartment that is going cooperative. The current residents are given
the first option to buy in, and Opal decides to take advantage of the opportunity. Which
statement about Opal's new co-op is FALSE? - ✔✔She will own the airspace inside her
co-op fee simple.
✔✔A mortgage loan originator can perform each of these activities EXCEPT - ✔✔lend
money.
✔✔The fullest interest in property is known as what kind of estate? - ✔✔fee simple
estate
✔✔Under what circumstance is a deed restriction most likely to be removed? - ✔✔The
deed restriction prohibits minorities from owning the property.
✔✔Sue faces possible foreclosure, and contacts a mortgage lender whose ad promises
to save her home for her. At closing, Sue sees that the lender changed the terms of the
loan that they had agreed to, but she felt she had no choice but to go ahead with the
loan or lose her house. This is an example of - ✔✔predatory lending.
✔✔Which agency issues real estate licenses in the State of New York?
Select one: - ✔✔the Department of State
✔✔ block and lot - ✔✔Which type of legal description uses a survey map of a
subdivision?
