NYREI LATEST EXAMINATION 2026
QUESTIONS AND ANSWERS SURE A+
✔✔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
✔✔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
✔✔A contract between a minor and an adult is - ✔✔voidable by the minor.
✔✔Tony owns the barbershop he built 25 years ago on the same street as his family
home. The area was zoned residential 10 years ago. Why is the barbershop allowed to
remain open? - ✔✔It is a nonconforming use.
✔✔When a licensee is the client's designated agent, the client gives up the agent's duty
of - ✔✔undivided loyalty.
✔✔Under what circumstance is a deed restriction most likely to be removed? - ✔✔The
deed restriction prohibits minorities from owning the property.
✔✔After examining a property, an appraiser made the following notes: Replacement
cost= $465,000; Depreciation= $18,000; Site Value= $85,000. Determine the final
estimate of value using the cost approach. - ✔✔$532,000
✔✔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.
, ✔✔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? - ✔✔
✔✔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
✔✔An agent who discusses the commission rates charged by his broker with someone
from another agency could be accused of which antitrust violation? - ✔✔price fixing
✔✔Which agency issues real estate licenses in the State of New York? - ✔✔the
Department of State
✔✔The fullest interest in property is known as what kind of estate? - ✔✔fee simple
estate
✔✔A licensee attempts to get listings by telling homeowners in a neighborhood that
their property values will decline when a group of immigrants move in. The licensee
could be found guilty of - ✔✔blockbusting.
✔✔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
✔✔A building has 28,000 rentable square feet, 22,160 square feet of which are
considered useable. What is this building's loss factor? - ✔✔20.9%
✔✔In his first week on the job, property manager Tim checks the insurance coverage
for the building he manages and indicates potential needs for more coverage. This is an
example of Tim's obligation to - ✔✔risk management
✔✔An agent owes all of these duties to a customer EXCEPT - ✔✔
✔✔The Truth In Lending Act encompasses all of the following EXCEPT - ✔✔limits the
number of points a lender may charge to close a commercial mortgage.
✔✔An agent lists a 1.8 acre properly for sale. The owner wants $3.25 per square foot.
What is the asking price of the properly? - ✔✔$254,826.00
✔✔A listing broker must maintain a signed agency disclosure form - ✔✔for at least
three years after the transaction closes.
QUESTIONS AND ANSWERS SURE A+
✔✔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
✔✔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
✔✔A contract between a minor and an adult is - ✔✔voidable by the minor.
✔✔Tony owns the barbershop he built 25 years ago on the same street as his family
home. The area was zoned residential 10 years ago. Why is the barbershop allowed to
remain open? - ✔✔It is a nonconforming use.
✔✔When a licensee is the client's designated agent, the client gives up the agent's duty
of - ✔✔undivided loyalty.
✔✔Under what circumstance is a deed restriction most likely to be removed? - ✔✔The
deed restriction prohibits minorities from owning the property.
✔✔After examining a property, an appraiser made the following notes: Replacement
cost= $465,000; Depreciation= $18,000; Site Value= $85,000. Determine the final
estimate of value using the cost approach. - ✔✔$532,000
✔✔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.
, ✔✔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? - ✔✔
✔✔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
✔✔An agent who discusses the commission rates charged by his broker with someone
from another agency could be accused of which antitrust violation? - ✔✔price fixing
✔✔Which agency issues real estate licenses in the State of New York? - ✔✔the
Department of State
✔✔The fullest interest in property is known as what kind of estate? - ✔✔fee simple
estate
✔✔A licensee attempts to get listings by telling homeowners in a neighborhood that
their property values will decline when a group of immigrants move in. The licensee
could be found guilty of - ✔✔blockbusting.
✔✔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
✔✔A building has 28,000 rentable square feet, 22,160 square feet of which are
considered useable. What is this building's loss factor? - ✔✔20.9%
✔✔In his first week on the job, property manager Tim checks the insurance coverage
for the building he manages and indicates potential needs for more coverage. This is an
example of Tim's obligation to - ✔✔risk management
✔✔An agent owes all of these duties to a customer EXCEPT - ✔✔
✔✔The Truth In Lending Act encompasses all of the following EXCEPT - ✔✔limits the
number of points a lender may charge to close a commercial mortgage.
✔✔An agent lists a 1.8 acre properly for sale. The owner wants $3.25 per square foot.
What is the asking price of the properly? - ✔✔$254,826.00
✔✔A listing broker must maintain a signed agency disclosure form - ✔✔for at least
three years after the transaction closes.
