NYREI School Exam Study Guide
– Practice Questions with
Verified Answers. GRADED A+.
Latest 2026/2027 Update
What is the minimum licensing requirement to sell commercial real estate in New
York? - Answer ✔✔-a real estate salesperson's license
What is the preferred method of creating an agency relationship? - Answer ✔✔-
expressed agency
An amenity purchaser - Answer ✔✔-occupies or uses the purchased property
Condominium units are considered _____ property and are conveyed by _____. -
Answer ✔✔real / deed
A salesperson who is an independent contractor - Answer ✔✔-is not subject to
withholding requirements.
, A homeowner facing foreclosure has a number of liens: The original mortgage, a
mechanic's lien from six months ago, a judgment lien from two years ago, and a
property tax lien that was just filed. When the property is sold, which lien will be
paid first from the proceeds? - Answer ✔✔-property tax lien
What is another word for principal? - Answer ✔✔-Client. The principal in any
fiduciary relationship is the client.
The tenant signs a two-month lease on an apartment ending September 1. What
type of leasehold estate does this represent? - Answer ✔✔-estate for years
What are the age and experience requirements to apply for a salesperson license?
- Answer ✔✔-18 years old and no experience necessary
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 - coRREct
aNSwER-a pass-through.
Which federal environmental law, known as the Superfund, creates requirements
for closed and abandoned waste sites? - Answer ✔✔-Comprehensive
Environmental Response, Compensation, and Liability Act
Who is responsible for approving septic and other sanitation systems in New York
State? - Answer ✔✔-NYS Department of Health
– Practice Questions with
Verified Answers. GRADED A+.
Latest 2026/2027 Update
What is the minimum licensing requirement to sell commercial real estate in New
York? - Answer ✔✔-a real estate salesperson's license
What is the preferred method of creating an agency relationship? - Answer ✔✔-
expressed agency
An amenity purchaser - Answer ✔✔-occupies or uses the purchased property
Condominium units are considered _____ property and are conveyed by _____. -
Answer ✔✔real / deed
A salesperson who is an independent contractor - Answer ✔✔-is not subject to
withholding requirements.
, A homeowner facing foreclosure has a number of liens: The original mortgage, a
mechanic's lien from six months ago, a judgment lien from two years ago, and a
property tax lien that was just filed. When the property is sold, which lien will be
paid first from the proceeds? - Answer ✔✔-property tax lien
What is another word for principal? - Answer ✔✔-Client. The principal in any
fiduciary relationship is the client.
The tenant signs a two-month lease on an apartment ending September 1. What
type of leasehold estate does this represent? - Answer ✔✔-estate for years
What are the age and experience requirements to apply for a salesperson license?
- Answer ✔✔-18 years old and no experience necessary
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 - coRREct
aNSwER-a pass-through.
Which federal environmental law, known as the Superfund, creates requirements
for closed and abandoned waste sites? - Answer ✔✔-Comprehensive
Environmental Response, Compensation, and Liability Act
Who is responsible for approving septic and other sanitation systems in New York
State? - Answer ✔✔-NYS Department of Health
