NYREI Exam Latest Version 2024/2025 Expert-Verified Q&As

4 types of Deeds = Full Covenant, Bargains/Sale, Quitclaim, Judicial - a. Full Covenant = best deed b. Quitclaim = quit your claim (divorce/cloud on title) c. Judicial = deed written by court A legal description of property based on lines of longitude and latitude, townships, and sections is described as - metes and bounds A lender is charging 6.5% interest and four points. What is the lender's yield? - Remember, every 2 points equals 0.25% increase in lender's yield, so 4 points would be a 0.50% increase in the lender's yield. 6.5% + 0.5% = 7%. A map of a subdivision that is recorded at the county clerk's office is called a - recorded plat of subdivision. A progressive tax is - based on the level of income - the higher the income, the higher the tax A real estate agent is authorized to prepare for signature which of the following? - a pre-printed real estate sales contract form provided by the local bar association A real estate brokerage may conduct business under the name of a corporation as long as the broker - is an officer of the corporation A real estate license is good for a period of - 2 years