NYC Real estate Exam Questions
with Math 2026 Complete Exam
guide With Actual and Verified
ANSWERs
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - ANSWER-grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months - ANSWER-1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral - ANSWER-parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above - ANSWER-if you have an agency contract with the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The lien
now:
a) is void
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied - ANSWER-remains as a claim against the property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000. What
is the rate of return on profit on this house? - ANSWER-12.47%
, 478,000-425,000= 53,000
53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with annual
information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document - ANSWER-assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures - ANSWER-B- proration
In NYS, how old must one be to enter into contracts? - ANSWER-18
What other capability should they possess? (to enter contract) - ANSWER-Mental and
emotional capability
What happens if one of the parties to the contract is a minor? - ANSWER-The contract
is voidable by the minor
What does the zoning board of appeals do? - ANSWER-Grants variances
What regulates construction standards in NYS? - ANSWER-Building codes
What does municipal engineer's office do? - ANSWER-Oversees planning and
construction of major highways, sewer systems & water connections
If a property ad states that the property is near the vicinity of a geographical area, what
else must the ad include? - ANSWER-It must include the name of the geographical area
where the property is actually located
Who is usually exempt from property taxes? - ANSWER-Disabled, veterans, farmers,
elderly, gold star parents (whose kids dies in war) and star program homeowners
Who is not usually exempt from property taxes? - ANSWER-Second home owners
What covers fully for personal property lost in a fire? - ANSWER-replacement cost
Find the square footage of a rectangular shaped floor plan. - ANSWER-
with Math 2026 Complete Exam
guide With Actual and Verified
ANSWERs
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - ANSWER-grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months - ANSWER-1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral - ANSWER-parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above - ANSWER-if you have an agency contract with the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The lien
now:
a) is void
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied - ANSWER-remains as a claim against the property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000. What
is the rate of return on profit on this house? - ANSWER-12.47%
, 478,000-425,000= 53,000
53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with annual
information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document - ANSWER-assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures - ANSWER-B- proration
In NYS, how old must one be to enter into contracts? - ANSWER-18
What other capability should they possess? (to enter contract) - ANSWER-Mental and
emotional capability
What happens if one of the parties to the contract is a minor? - ANSWER-The contract
is voidable by the minor
What does the zoning board of appeals do? - ANSWER-Grants variances
What regulates construction standards in NYS? - ANSWER-Building codes
What does municipal engineer's office do? - ANSWER-Oversees planning and
construction of major highways, sewer systems & water connections
If a property ad states that the property is near the vicinity of a geographical area, what
else must the ad include? - ANSWER-It must include the name of the geographical area
where the property is actually located
Who is usually exempt from property taxes? - ANSWER-Disabled, veterans, farmers,
elderly, gold star parents (whose kids dies in war) and star program homeowners
Who is not usually exempt from property taxes? - ANSWER-Second home owners
What covers fully for personal property lost in a fire? - ANSWER-replacement cost
Find the square footage of a rectangular shaped floor plan. - ANSWER-
