Salesperson Licensing Exam
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In NYS, how old must one be to enter into 18
contracts?
What other capability should they possess? Mental and emotional capability
What happens if one of the parties to the contract The contract is voidable by the
minor is a minor?
What does the zoning board of appeals do? Grants variances
What regulates construction standards in NYS? Building codes
What does municipal engineer's office do? Oversees planning and construction of major highways, sweet systems
and water connections
If a property ad states that the property is near the It must include the name of the geographical area where the property
is vicinity of a geographical area, what else mud the actually located
ad include?
Who is usually exempt from property taxes? Disabled, veterans, farmers, elderly gold star parents *kids die in the
war, star program homeowners
Who is not usually exempt from property taxes? Second home owners
What covers fully or personal property lost in a Replacement
cost fire?
Find the square footage of a rectangular shaped Length x Width =
Area floor plan. How do you find the area of a
square/rectangle?
What is the cash on cash return on a $2,000,000 36%
property with a down payment of $500,000 and
$15,000 monthly rental income?
Who hires the agent? Principal or client
What is not a CMA (Comparative Market Analysis?) An apprasial
What cannot a salesperson do? Collect money directly from the client or customer
, When should the Agency disclosure form be At the first substantive contact
submitted?
Which document describes the agency (who he or Agency disclosure
form she represents) of the salesperson?
What is another name for the slope of a roof? Pitch
What carcinogenic component was used as PCB's or polychlorinated biphenyls
insulation in electric transformers that
contaminated soil and ground water?
What can brokers provide their salespeople if they Office
phone are independent contractors?
Whats right to access whiter from a river or stream
Riparian
called?
What did the civil rights act of 1866 protect without
Race exception?
What did the 1988 amendment to the civil rights actDisability and familial
status protect?
What is convincing owners to sell/lease property Blockbusting
by telling them a particular group of people are
moving into the area called?
What is it called when lenders/insurance agents
Redlining refuse to do business in a certain area based on
the characteristics of the people living there?
Unless specified a lesser estate, transfer of title to Fee
Simple real property in NYS creates what type of interest?
What is another name for transfer of title to real
Conveyance property?
What is it called when the government dictates Zoning
how a property can be used?
Who issues real estate licenses? NY Department of State
Who oversees licensing and registration of NYS banking department
mortgage bankers and brokers?
Which department oversees drinking water safety? Department of Health
Who determines commission? Principal/Client and the broker
What occurs when the agent represents the sellerUndisclosed dual
agency but also works in the best interests of the buyer?
A real estate salesperson is what type of agent? Special