In NYS, how old must one be to enter into contracts? - ANSWER 18
What other capability should they possess? - ANSWER Mental and emotional capability
What happens if one of the parties to the contract is a minor? - ANSWER The contract is voidable by the
minor
What does the zoning board of appeals do? - ANSWER Grants variances
What regulates construction standards in NYS? - ANSWER Building codes
What does municipal engineer's office do? - ANSWER 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? - ANSWER It must include the name of the geographical area where the property is actually
located
Who is usually exempt from property taxes? - ANSWER Disabled, veterans, farmers, elderly gold star
parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - ANSWER Second home owners
, What covers fully or personal property lost in a fire? - ANSWER Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - ANSWER 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? - ANSWER 36%
Who hires the agent? - ANSWER Principal or client
What is not a CMA (Comparative Market Analysis?) - ANSWER An apprasial
What cannot a salesperson do? - ANSWER Collect money directly from the client or customer
When should the Agency disclosure form be submitted? - ANSWER At the first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? - ANSWER Agency
disclosure form
What is another name for the slope of a roof? - ANSWER Pitch
What carcinogenic component was used as insulation in electric transformers that contaminated soil
and ground water? - ANSWER PCB's or polychlorinated biphenyls
What can brokers provide their salespeople if they are independent contractors? - ANSWER Office
phone
Whats right to access whiter from a river or stream called? - ANSWER Riparian
What other capability should they possess? - ANSWER Mental and emotional capability
What happens if one of the parties to the contract is a minor? - ANSWER The contract is voidable by the
minor
What does the zoning board of appeals do? - ANSWER Grants variances
What regulates construction standards in NYS? - ANSWER Building codes
What does municipal engineer's office do? - ANSWER 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? - ANSWER It must include the name of the geographical area where the property is actually
located
Who is usually exempt from property taxes? - ANSWER Disabled, veterans, farmers, elderly gold star
parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - ANSWER Second home owners
, What covers fully or personal property lost in a fire? - ANSWER Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - ANSWER 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? - ANSWER 36%
Who hires the agent? - ANSWER Principal or client
What is not a CMA (Comparative Market Analysis?) - ANSWER An apprasial
What cannot a salesperson do? - ANSWER Collect money directly from the client or customer
When should the Agency disclosure form be submitted? - ANSWER At the first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? - ANSWER Agency
disclosure form
What is another name for the slope of a roof? - ANSWER Pitch
What carcinogenic component was used as insulation in electric transformers that contaminated soil
and ground water? - ANSWER PCB's or polychlorinated biphenyls
What can brokers provide their salespeople if they are independent contractors? - ANSWER Office
phone
Whats right to access whiter from a river or stream called? - ANSWER Riparian
