2024 NEW YORK STATE REAL ESTATE SALESPERSON LICENSING EXAM 75 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS;(PASSED ON FIRST ATTEMPT 100%)
In NYS, how old must one be to enter into contracts? Ans ✔👌- 18
What other capability should they possess? Ans ✔👌- Mental and emotional capability
What happens if one of the parties to the contract is a minor? Ans ✔👌- The contract is voidable by the minor
What does the zoning board of appeals do? Ans ✔👌- Grants variances
What regulates construction standards in NYS? Ans ✔👌- Building codes
What does municipal engineer's office do? Ans ✔👌- Oversees planning and construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else mud the ad include? Ans ✔👌- It must include the name of the geographical area where the property is actually located
Who is usually exempt from property taxes? Ans ✔👌- Disabled, veterans, farmers, elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? Ans ✔👌- Second home owners What covers fully or personal property lost in a fire? Ans ✔👌- Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the area of a square/rectangle? Ans ✔👌- Length x Width = Area
What is the cash on cash return on a $2,000,000 property with a down payment of $500,000 and $15,000 monthly rental income? Ans ✔👌- 36%
Who hires the agent? Ans ✔👌- Principal or client
What is not a CMA (Comparative Market Analysis?) Ans ✔👌- An apprasial
What cannot a salesperson do? Ans ✔👌- Collect money directly from the client or customer
When should the Agency disclosure form be submitted? Ans ✔👌- At the first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? Ans✔👌- Agency disclosure form
What is another name for the slope of a roof? Ans ✔👌- Pitch
What carcinogenic component was used as insulation in electric transformers that contaminated soil and ground water? Ans ✔👌- PCB's or polychlorinated biphenyls
What can brokers provide their salespeople if they are independent contractors? Ans ✔👌- Office phone
In NYS, how old must one be to enter into contracts? Ans ✔👌- 18
What other capability should they possess? Ans ✔👌- Mental and emotional capability
What happens if one of the parties to the contract is a minor? Ans ✔👌- The contract is voidable by the minor
What does the zoning board of appeals do? Ans ✔👌- Grants variances
What regulates construction standards in NYS? Ans ✔👌- Building codes
What does municipal engineer's office do? Ans ✔👌- Oversees planning and construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else mud the ad include? Ans ✔👌- It must include the name of the geographical area where the property is actually located
Who is usually exempt from property taxes? Ans ✔👌- Disabled, veterans, farmers, elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? Ans ✔👌- Second home owners What covers fully or personal property lost in a fire? Ans ✔👌- Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the area of a square/rectangle? Ans ✔👌- Length x Width = Area
What is the cash on cash return on a $2,000,000 property with a down payment of $500,000 and $15,000 monthly rental income? Ans ✔👌- 36%
Who hires the agent? Ans ✔👌- Principal or client
What is not a CMA (Comparative Market Analysis?) Ans ✔👌- An apprasial
What cannot a salesperson do? Ans ✔👌- Collect money directly from the client or customer
When should the Agency disclosure form be submitted? Ans ✔👌- At the first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? Ans✔👌- Agency disclosure form
What is another name for the slope of a roof? Ans ✔👌- Pitch
What carcinogenic component was used as insulation in electric transformers that contaminated soil and ground water? Ans ✔👌- PCB's or polychlorinated biphenyls
What can brokers provide their salespeople if they are independent contractors? Ans ✔👌- Office phone
