nys real estate exam 2026 wit correct
answers 100%
which two documents are necessary to establish a legally binding mortgage loan? - Correct
Answers promissory note and deed of trust.
if a buyer defaults on a sales contract after providing $10,000 as earnest money for a $200,000
property, what can the seller do with the $10,000? - Correct Answers keep the entire amount as
compensation.
surface rights, air rights and surface rights can be sold separately and are called - Correct
Answers severable rights.
when an easement allows the use of a neighboring. property which automatically transfers
upon the sale of dominant of servient property, is what type of easement? - Correct Answers
easement Appurtenant
in real estate, what is the closest meaning to the term "quieting a title"? - Correct Answers
clearing any liens or encumbrances on a property.
what is the highest form of land ownership which includes the full and complete bundle of
property rights? - Correct Answers fee simple absolute
if your broker sells a triangular parcel of land for $750 an acre, and your commission rate is 8%,
what will be your commission if the land has a base length of 1,200 feet and a height of 700
feet? - Correct Answers $578.51
tom is constructing a new house 100,00. Property around is 225,000, which principle suggests a
positive effect on his property value? - Correct Answers principle of progression
, bob without a license during sally absence show property and accept deposit, what implications
are bob actions? - Correct Answers bob actions are illegal and can lead to legal consequences.
what is the general purpose for the cities to require building permits? - Correct Answers to
require a minimum level of construction standards.
what is a true statement regarding the recording of a deed - Correct Answers recording deed
establishes owenrship rights.
the city of brownwood plans to build a new water treatment facility but the land that is
required is privately owned. Eminent domain allows the city to: - Correct Answers take
possession of the land against the owners wishes. yet the owner must be compensated.
when the appraised value of a property is given, it is based on: - Correct Answers comparable
sales
agent brook is preparing for a listing appointment and has gathered information to prepare a
report. - Correct Answers cma comparative market analysis
what does the term merchantable title refer to - Correct Answers a title free from defects and
legal emcumbrances
Jon tire store is being built across the street from big bobs tires. What appraisal principle
describes this situation? - Correct Answers competition
if a landlord receives rent at the start of the month and sells the property ten days later, how
should the rent be prorated at settlement? - Correct Answers the rent is divided based on the
number of days owned by the seller and the buyer.
answers 100%
which two documents are necessary to establish a legally binding mortgage loan? - Correct
Answers promissory note and deed of trust.
if a buyer defaults on a sales contract after providing $10,000 as earnest money for a $200,000
property, what can the seller do with the $10,000? - Correct Answers keep the entire amount as
compensation.
surface rights, air rights and surface rights can be sold separately and are called - Correct
Answers severable rights.
when an easement allows the use of a neighboring. property which automatically transfers
upon the sale of dominant of servient property, is what type of easement? - Correct Answers
easement Appurtenant
in real estate, what is the closest meaning to the term "quieting a title"? - Correct Answers
clearing any liens or encumbrances on a property.
what is the highest form of land ownership which includes the full and complete bundle of
property rights? - Correct Answers fee simple absolute
if your broker sells a triangular parcel of land for $750 an acre, and your commission rate is 8%,
what will be your commission if the land has a base length of 1,200 feet and a height of 700
feet? - Correct Answers $578.51
tom is constructing a new house 100,00. Property around is 225,000, which principle suggests a
positive effect on his property value? - Correct Answers principle of progression
, bob without a license during sally absence show property and accept deposit, what implications
are bob actions? - Correct Answers bob actions are illegal and can lead to legal consequences.
what is the general purpose for the cities to require building permits? - Correct Answers to
require a minimum level of construction standards.
what is a true statement regarding the recording of a deed - Correct Answers recording deed
establishes owenrship rights.
the city of brownwood plans to build a new water treatment facility but the land that is
required is privately owned. Eminent domain allows the city to: - Correct Answers take
possession of the land against the owners wishes. yet the owner must be compensated.
when the appraised value of a property is given, it is based on: - Correct Answers comparable
sales
agent brook is preparing for a listing appointment and has gathered information to prepare a
report. - Correct Answers cma comparative market analysis
what does the term merchantable title refer to - Correct Answers a title free from defects and
legal emcumbrances
Jon tire store is being built across the street from big bobs tires. What appraisal principle
describes this situation? - Correct Answers competition
if a landlord receives rent at the start of the month and sells the property ten days later, how
should the rent be prorated at settlement? - Correct Answers the rent is divided based on the
number of days owned by the seller and the buyer.
