NYS Real Estate Exam Questions with Correct Answers 100% Verified By Experts| Latest
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When you show a specific race to specified race neighborhood/community this is called
________ Steering
What classes were protected? (1968) Race and Religion
What was the year of the second major federal fair housing legislation? 1968
Best pieces of metal that serve to waterproof houses are called ________ Flashing
What is the "R" factor? Resistance to heat transfer
Which group oversees management of a cooperative entity? Board of Directions
What would you call the first wooden member to be laid down on the foundation wall? Sill
Plate
What is put on the outside of the studs to begin to weatherproof the house? Sheathing
A financing situation where the buyer receives
financial assistance with the down payment, and
closing costs, and in exchange gives up some share
of the equity built up in the property is called? Shared Equity
What type of leasehold estate is when someone rents an apartment for a period of time?
Estate for Years
, There are NEVER any exemptions from fair housing laws based on ___. Race
What was the one protected class in the 1968 legislation? Race
What would you call the power of the government to acquire personally held real property for
the benefit of the public? Eminent Domain
Whats a possible penalty to a misdemeanor? $1000 fine or 1 year in jail
When one person buys a property all by themselves it is called ________ Ownership in
Severalty
If someone dies without having a valid will, they died _______ Intestate
Agents are ______ to brokers Sub-agents
If someone dies without having a valid will and are single (no heirs) the property reverts to the
state through a process called ________ Escheat
A fiduciary is _____ A position of trust
What should you do if a client refuses to sign the agency disclosure form? Fill out a
declaration, make a note, signed and notarized
Tenants in Common are characterized by _________ Rights of Inheritance
Over how many years can you depreciate a residential property? 27.5 years
Update Guaranteed Success
When you show a specific race to specified race neighborhood/community this is called
________ Steering
What classes were protected? (1968) Race and Religion
What was the year of the second major federal fair housing legislation? 1968
Best pieces of metal that serve to waterproof houses are called ________ Flashing
What is the "R" factor? Resistance to heat transfer
Which group oversees management of a cooperative entity? Board of Directions
What would you call the first wooden member to be laid down on the foundation wall? Sill
Plate
What is put on the outside of the studs to begin to weatherproof the house? Sheathing
A financing situation where the buyer receives
financial assistance with the down payment, and
closing costs, and in exchange gives up some share
of the equity built up in the property is called? Shared Equity
What type of leasehold estate is when someone rents an apartment for a period of time?
Estate for Years
, There are NEVER any exemptions from fair housing laws based on ___. Race
What was the one protected class in the 1968 legislation? Race
What would you call the power of the government to acquire personally held real property for
the benefit of the public? Eminent Domain
Whats a possible penalty to a misdemeanor? $1000 fine or 1 year in jail
When one person buys a property all by themselves it is called ________ Ownership in
Severalty
If someone dies without having a valid will, they died _______ Intestate
Agents are ______ to brokers Sub-agents
If someone dies without having a valid will and are single (no heirs) the property reverts to the
state through a process called ________ Escheat
A fiduciary is _____ A position of trust
What should you do if a client refuses to sign the agency disclosure form? Fill out a
declaration, make a note, signed and notarized
Tenants in Common are characterized by _________ Rights of Inheritance
Over how many years can you depreciate a residential property? 27.5 years
