NYC CITY ASSESSOR EXAM PREP 2 2026
PRACTICE EXAM PREMIUM QUESTIONS AND
ACCURATE ANSWERS ONE HUNDRED
PERCENT CORRECT
◉ Physical Incurable: Long-life Components (Example)
Answer: Basic structure is aging
◉ Functional Curable: Deficiency Modernization (example)
Answer: Inadequacy of kitchen cabinets
◉ Economic (locational) (example)
Answer: Drop forge plant is next door
◉ Physical Curable (example)
Answer: Linoleum floor in kitchen is worn out
◉ Functional Curable: Super-Adequacy (example)
Answer: $15,000 residence with gold plated door knobs
◉ Functional Curable: Normal Deficiency (example)
,Answer: Supermarket needs central air conditioning
◉ Real Estate
Answer: physical items, the land and any structures/improvements
on it
◉ Real Property
Answer: Rights and benefits in addition to real estate
◉ Bundle of Rights
Answer: The right to sell, lease, occupy, mortgage, give away, do all
or none
◉ Police Power
Answer: Right to regulate the use of property for public welfare
◉ Easements
Answer: Right to access property, mostly utility
◉ Life Estate
Answer: Ownership interest in property that is not inheritable,
expires on the death of the inhabitant, then reverts to the owner
who granted the estate
,◉ Lease
Answer: Contract between the owner and tenant which transfers a
portion of the bundle of rights for rent
◉ Encroachments
Answer: Unauthorized use of the property by an individual who
does not own it
◉ Land Contract
Answer: Contract where the seller promises to give the property at a
specified future time and the buyer makes installments
◉ Option Contract
Answer: Property owner gives the buyer the right to buy property at
a specified price within a given time period
◉ Warranty Deed
Answer: Seller guarantees the buyer the title is clear of
encumbrances except those mentioned in the deed
◉ Special Warranty Deed
, Answer: Seller guarantees the title only against defects occurring
during the time they held the title
◉ Quit-Claim Deed
Answer: Passes all of the interest in the land that the grantor may
have and can give
◉ Sheriff's Deed
Answer: Used where the sheriff acts as the grantor for the public's
benefit, contains no warranties
◉ Trustee's Deed
Answer: When the property is held in trust...trustees need to sign
the deed, guarantees the title only against acts by the trustees
◉ Accretion
Answer: Land gained by water deposits adding to land
◉ Real Estate Transfer Return
Answer: Used for collecting information about the transfer of real
property
◉ Agricultural Property Value Standard
PRACTICE EXAM PREMIUM QUESTIONS AND
ACCURATE ANSWERS ONE HUNDRED
PERCENT CORRECT
◉ Physical Incurable: Long-life Components (Example)
Answer: Basic structure is aging
◉ Functional Curable: Deficiency Modernization (example)
Answer: Inadequacy of kitchen cabinets
◉ Economic (locational) (example)
Answer: Drop forge plant is next door
◉ Physical Curable (example)
Answer: Linoleum floor in kitchen is worn out
◉ Functional Curable: Super-Adequacy (example)
Answer: $15,000 residence with gold plated door knobs
◉ Functional Curable: Normal Deficiency (example)
,Answer: Supermarket needs central air conditioning
◉ Real Estate
Answer: physical items, the land and any structures/improvements
on it
◉ Real Property
Answer: Rights and benefits in addition to real estate
◉ Bundle of Rights
Answer: The right to sell, lease, occupy, mortgage, give away, do all
or none
◉ Police Power
Answer: Right to regulate the use of property for public welfare
◉ Easements
Answer: Right to access property, mostly utility
◉ Life Estate
Answer: Ownership interest in property that is not inheritable,
expires on the death of the inhabitant, then reverts to the owner
who granted the estate
,◉ Lease
Answer: Contract between the owner and tenant which transfers a
portion of the bundle of rights for rent
◉ Encroachments
Answer: Unauthorized use of the property by an individual who
does not own it
◉ Land Contract
Answer: Contract where the seller promises to give the property at a
specified future time and the buyer makes installments
◉ Option Contract
Answer: Property owner gives the buyer the right to buy property at
a specified price within a given time period
◉ Warranty Deed
Answer: Seller guarantees the buyer the title is clear of
encumbrances except those mentioned in the deed
◉ Special Warranty Deed
, Answer: Seller guarantees the title only against defects occurring
during the time they held the title
◉ Quit-Claim Deed
Answer: Passes all of the interest in the land that the grantor may
have and can give
◉ Sheriff's Deed
Answer: Used where the sheriff acts as the grantor for the public's
benefit, contains no warranties
◉ Trustee's Deed
Answer: When the property is held in trust...trustees need to sign
the deed, guarantees the title only against acts by the trustees
◉ Accretion
Answer: Land gained by water deposits adding to land
◉ Real Estate Transfer Return
Answer: Used for collecting information about the transfer of real
property
◉ Agricultural Property Value Standard
