NEW YORK STATE REAL ESTATE
EXAM
Which two protected classes were added by the 1988 amendment of the
federal fair housing act - ANSWERS-Familial status and persons with disability
Which one of the following documents provided by the sponsor, offered
detailed information about a condominium project - ANSWERS-Offering plans
The illegal solicitation of the sale or lease of property due to a change in the
ethic structure of a neighborhood is known, as which of the following -
ANSWERS-Block busting
When an agent earns a commission from both the seller and buyer with full
disclosure and their informed consent, what type of agency exists? - ANSWERS-
Dual
A percentage lease is most commonly used for what type of real estate -
ANSWERS-Shopping centers
Familial status in persons with disabilities became protected classes under
which of the following laws - ANSWERS-Federal fair housing amendments act
of 1988
Which term best identifies as the most probable price for which specified
property rights should sell to a knowledgeable buyer in a competitive market -
ANSWERS-Liquidation value
,Commissions on any sale of real property are determined by the - ANSWERS-
Broker and principal
In a real estate transaction, the agent always represents the - ANSWERS-Clients
Which party generally signs the contract of sale first - ANSWERS-Purchaser
The secondary mortgage market is where this happens - ANSWERS-Mortgage
loans are bought and sold
A purchaser of six parcels, a real property obtain a mortgage loan and they use
of land as security. This is known as which type of mortgage. - ANSWERS-
Blanket
In order for a contract of sale of real estate to be legally enforceable, it must be
- ANSWERS-Recorded at the county clerks office
Which party generally signs a contract of sale first - ANSWERS-Purchaser
Which one of the following refers to the degree of an angle or slope of a roof? -
ANSWERS-Pitch
Which New York State agencies overseas the safety of drinking water in New
York - ANSWERS-Department of health
,Poverty limited to a specific use or purpose, determined by governmental
authority is said to be - ANSWERS-Zoned
Which one of the following documents, regulates construction standards? -
ANSWERS-Building codes
A wraparound mortgage is best described as - ANSWERS-A second mortgage
for a sum greater than the amount owed on an existing first mortgage
The civil rights act of 1866 prohibits any type of discrimination without
exception based on - ANSWERS-Race
Which one of the following is the illegal practice of refusing to grant mortgage
loans or issue insurance policies based solely on the geographic location of a
property? - ANSWERS-Red lining
A decrease in the worth of a property as a direct result of currently undesirable
styling features is most likely due to - ANSWERS-Obsolescence
What is the percolation rate? - ANSWERS-The movement of water through the
soil
An agency relationship created between a licensee, and the seller may be
terminated by - ANSWERS-Destruction of the property
What are you determining when you subtract your properties operating
expense from its effective income? - ANSWERS-Net operating income
, Rachel wants to make some renovations to her copper apartment which one of
the following agreements will she most likely have to sign in order to undertake
these renovations? - ANSWERS-Alteration agreement
Which one of the following agencies would provide guidelines for the design of
a wastewater treatment system for a residential subdivision? - ANSWERS-
Department of Health
What type of agency exists between the property manager and the owner of a
property? - ANSWERS-General
Which one of the following is true in regards to Elise when the Real Estate
under lease is shif - ANSWERS-It remains binding upon the new owner
According to regulation Z what must advertisements for real property that was
specific interest rates also include - ANSWERS-The details of the financing,
including down payments
Which one of the following if any property types are exempt from real property
assessment - ANSWERS-Religious
Which one of the following are cooperative building requirements that regulate
pets and noise? - ANSWERS-House rules
What is the area of a one story home floor plan that's 50 feet 15' 35 feet and
80 feet - ANSWERS-1350 ft
EXAM
Which two protected classes were added by the 1988 amendment of the
federal fair housing act - ANSWERS-Familial status and persons with disability
Which one of the following documents provided by the sponsor, offered
detailed information about a condominium project - ANSWERS-Offering plans
The illegal solicitation of the sale or lease of property due to a change in the
ethic structure of a neighborhood is known, as which of the following -
ANSWERS-Block busting
When an agent earns a commission from both the seller and buyer with full
disclosure and their informed consent, what type of agency exists? - ANSWERS-
Dual
A percentage lease is most commonly used for what type of real estate -
ANSWERS-Shopping centers
Familial status in persons with disabilities became protected classes under
which of the following laws - ANSWERS-Federal fair housing amendments act
of 1988
Which term best identifies as the most probable price for which specified
property rights should sell to a knowledgeable buyer in a competitive market -
ANSWERS-Liquidation value
,Commissions on any sale of real property are determined by the - ANSWERS-
Broker and principal
In a real estate transaction, the agent always represents the - ANSWERS-Clients
Which party generally signs the contract of sale first - ANSWERS-Purchaser
The secondary mortgage market is where this happens - ANSWERS-Mortgage
loans are bought and sold
A purchaser of six parcels, a real property obtain a mortgage loan and they use
of land as security. This is known as which type of mortgage. - ANSWERS-
Blanket
In order for a contract of sale of real estate to be legally enforceable, it must be
- ANSWERS-Recorded at the county clerks office
Which party generally signs a contract of sale first - ANSWERS-Purchaser
Which one of the following refers to the degree of an angle or slope of a roof? -
ANSWERS-Pitch
Which New York State agencies overseas the safety of drinking water in New
York - ANSWERS-Department of health
,Poverty limited to a specific use or purpose, determined by governmental
authority is said to be - ANSWERS-Zoned
Which one of the following documents, regulates construction standards? -
ANSWERS-Building codes
A wraparound mortgage is best described as - ANSWERS-A second mortgage
for a sum greater than the amount owed on an existing first mortgage
The civil rights act of 1866 prohibits any type of discrimination without
exception based on - ANSWERS-Race
Which one of the following is the illegal practice of refusing to grant mortgage
loans or issue insurance policies based solely on the geographic location of a
property? - ANSWERS-Red lining
A decrease in the worth of a property as a direct result of currently undesirable
styling features is most likely due to - ANSWERS-Obsolescence
What is the percolation rate? - ANSWERS-The movement of water through the
soil
An agency relationship created between a licensee, and the seller may be
terminated by - ANSWERS-Destruction of the property
What are you determining when you subtract your properties operating
expense from its effective income? - ANSWERS-Net operating income
, Rachel wants to make some renovations to her copper apartment which one of
the following agreements will she most likely have to sign in order to undertake
these renovations? - ANSWERS-Alteration agreement
Which one of the following agencies would provide guidelines for the design of
a wastewater treatment system for a residential subdivision? - ANSWERS-
Department of Health
What type of agency exists between the property manager and the owner of a
property? - ANSWERS-General
Which one of the following is true in regards to Elise when the Real Estate
under lease is shif - ANSWERS-It remains binding upon the new owner
According to regulation Z what must advertisements for real property that was
specific interest rates also include - ANSWERS-The details of the financing,
including down payments
Which one of the following if any property types are exempt from real property
assessment - ANSWERS-Religious
Which one of the following are cooperative building requirements that regulate
pets and noise? - ANSWERS-House rules
What is the area of a one story home floor plan that's 50 feet 15' 35 feet and
80 feet - ANSWERS-1350 ft
