NYS Real Estate U Final Exam Questions with Correct Answers 100% Verified By Experts|
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Older Than The Subject Property A factor to consider when selecting comparables for
market analysis.
Inferior Curb Appeal Not a recommended factor when selecting comparables for market
analysis.
Fine for a First Offense in Violation of the Federal Fair Housing Act Can be up to $10,000.
Required by Law for Real Estate Brokers Prominently Displaying The HUD Fair Housing
Poster.
Difference Between Federal and New York Human Rights Law Federal Law Has Fewer
Protected Classes Than The New York Law.
Profit Calculation for Calvin's Land Sale Calvin makes a 50% profit.
Higher Offer for a Rectangular Parcel of Land The amount of the higher offer is $10,000.
NOT a Function of the Building Department Requiring Landowners To Restore Or
Rehabilitate A Historic Structure.
Agency Accepting Grant of Undeveloped Wetlands Conservation Advisory Council.
FALSE Statement about Homeowner's Insurance Perils Are Events That Are Always Excluded
From Payment On The Insurance Policy.
,Insurance Claim Amount for San's Storage Shed San had $200,000 insurance on the
residence.
Market Value The estimated amount for which a property should exchange on the date of
valuation between a willing buyer and a willing seller.
Level of Assessment (LOA) The percentage of the market value at which a property is
assessed for tax purposes.
Assessment The valuation of property for taxation purposes, calculated as market value
multiplied by the level of assessment.
Special Assessment An additional charge on property tax bills for specific improvements or
services, such as the addition of fire trucks.
In Rem Legal Proceeding A legal action brought by the taxing authority against a property
when taxes are not paid when due.
Board of Directors (Cooperative) The governing body responsible for the approval of
prospective buyers in a cooperative.
Common Areas (Cooperative) The areas shared by all unit owners in a cooperative, owned
by the cooperative corporation.
Alteration Agreement The terms under which a cooperative allows a shareholder to make
structural changes to their unit.
Cash Flow from Rentals The income generated from rental properties after deducting
expenses.
, Cash-On-Cash Return A measure of the return on investment calculated by dividing the cash
flow by the cash invested.
After Tax Cash Flow The profit from income-producing property after income taxes have
been deducted.
Tax Loss A loss that can be used to offset other income for tax purposes.
Tax Bracket The range of income taxed at a particular rate.
Paper Income Loss An accounting loss that does not involve actual cash outflow, often used
as a tax shelter.
Tax Shelter A financial strategy that reduces taxable income, often through deductions or
losses.
Investor An individual or entity that allocates capital with the expectation of a financial
return.
Down Payment The initial upfront portion of the total amount due, often expressed as a
percentage of the purchase price.
Income Producing Property Real estate that generates income, typically through rental
payments.
Debt Service The cash required to cover the repayment of interest and principal on a debt.
Debt-To-Equity Ratio A financial ratio indicating the relative proportion of shareholders'
equity and debt used to finance a company's assets.
Latest Update Guaranteed Success
Older Than The Subject Property A factor to consider when selecting comparables for
market analysis.
Inferior Curb Appeal Not a recommended factor when selecting comparables for market
analysis.
Fine for a First Offense in Violation of the Federal Fair Housing Act Can be up to $10,000.
Required by Law for Real Estate Brokers Prominently Displaying The HUD Fair Housing
Poster.
Difference Between Federal and New York Human Rights Law Federal Law Has Fewer
Protected Classes Than The New York Law.
Profit Calculation for Calvin's Land Sale Calvin makes a 50% profit.
Higher Offer for a Rectangular Parcel of Land The amount of the higher offer is $10,000.
NOT a Function of the Building Department Requiring Landowners To Restore Or
Rehabilitate A Historic Structure.
Agency Accepting Grant of Undeveloped Wetlands Conservation Advisory Council.
FALSE Statement about Homeowner's Insurance Perils Are Events That Are Always Excluded
From Payment On The Insurance Policy.
,Insurance Claim Amount for San's Storage Shed San had $200,000 insurance on the
residence.
Market Value The estimated amount for which a property should exchange on the date of
valuation between a willing buyer and a willing seller.
Level of Assessment (LOA) The percentage of the market value at which a property is
assessed for tax purposes.
Assessment The valuation of property for taxation purposes, calculated as market value
multiplied by the level of assessment.
Special Assessment An additional charge on property tax bills for specific improvements or
services, such as the addition of fire trucks.
In Rem Legal Proceeding A legal action brought by the taxing authority against a property
when taxes are not paid when due.
Board of Directors (Cooperative) The governing body responsible for the approval of
prospective buyers in a cooperative.
Common Areas (Cooperative) The areas shared by all unit owners in a cooperative, owned
by the cooperative corporation.
Alteration Agreement The terms under which a cooperative allows a shareholder to make
structural changes to their unit.
Cash Flow from Rentals The income generated from rental properties after deducting
expenses.
, Cash-On-Cash Return A measure of the return on investment calculated by dividing the cash
flow by the cash invested.
After Tax Cash Flow The profit from income-producing property after income taxes have
been deducted.
Tax Loss A loss that can be used to offset other income for tax purposes.
Tax Bracket The range of income taxed at a particular rate.
Paper Income Loss An accounting loss that does not involve actual cash outflow, often used
as a tax shelter.
Tax Shelter A financial strategy that reduces taxable income, often through deductions or
losses.
Investor An individual or entity that allocates capital with the expectation of a financial
return.
Down Payment The initial upfront portion of the total amount due, often expressed as a
percentage of the purchase price.
Income Producing Property Real estate that generates income, typically through rental
payments.
Debt Service The cash required to cover the repayment of interest and principal on a debt.
Debt-To-Equity Ratio A financial ratio indicating the relative proportion of shareholders'
equity and debt used to finance a company's assets.
