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NY REAL ESTATE EXAM TEST BANK NEWEST 2025/2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED||
The amount a particular purchaser agrees to pay and a seller
agrees to accept is known as:
a. cost
b. price
c. market value
d. evaluation value - ANSWER-B: Price is the amount a particular
purchaser agrees to pay and a seller agrees to accept under the
circumstances surrounding the transaction.
A comparative market analysis resembles which approach to real
estate evaluation?
a. income approach.
b. Direct sales comparison.
c. Cost approach.
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d. Guesstimate. - ANSWER-B: The "CMA" is closely related to the
sales approach used by appraisers.
The definition of market value includes
a. Most recent sale price.
b. Amount of owner's equity in the building.
c. Potential income tax consequences of a sale.
d. Neither buyer nor seller under undue pressure. - ANSWER-D:
Market value-the most probable price, for which the property
should be sold with the buyer and seller acting prudently, neither
is under undue duress.
1-A broker legitimately may pay all or part of Real estate
commission to a
a. seller
b. salesperson
c. buyer
d. friend who provides a listing lead - ANSWER--B: Salesperson
can accept compensation only from their sponsoring broker.
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2-The minimum age for a New York real estate broker's license is
a. 19.
b. 18.
c. 20.
d. 21. - ANSWER-C. As of July 1,2008 to become a broker you
must be 20 years old.
3-Which of the following acts would require a real estate license in
New York
a. Sale of one's own property
b. Sale by the owner's lawyer
c. Sale of land by an auctioneer
d. Foreclosure sale by court order - ANSWER-C: selling land at
an auction.
4-An associate broker may
a. sponsor a person for a salesperson's license.
b. collect his or her own real estate fees.
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c. act as a principal broker for another broker.
d. Work as a salesperson for a principal broker - ANSWER-D:
Associate broker is a licensed broker but chooses to work under
the supervision of another broker.
5-Violation of the license law is a misdemeanor, Punishable by up
to a year in jail and a fine of
Up to
a. $500.
b. $2,000.
c. $1,000.
d. $1,500. - ANSWER-C: DOS may impose a fine not to exceed
$1000.
6-When salesperson Tom Jones left ABC Realty And went to work
with XYZ REALTORS,
Tom's listings
a. became null and void.
b. Remained with ABC Realty.
NY REAL ESTATE EXAM TEST BANK NEWEST 2025/2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (100% VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED||
The amount a particular purchaser agrees to pay and a seller
agrees to accept is known as:
a. cost
b. price
c. market value
d. evaluation value - ANSWER-B: Price is the amount a particular
purchaser agrees to pay and a seller agrees to accept under the
circumstances surrounding the transaction.
A comparative market analysis resembles which approach to real
estate evaluation?
a. income approach.
b. Direct sales comparison.
c. Cost approach.
,2|Page
d. Guesstimate. - ANSWER-B: The "CMA" is closely related to the
sales approach used by appraisers.
The definition of market value includes
a. Most recent sale price.
b. Amount of owner's equity in the building.
c. Potential income tax consequences of a sale.
d. Neither buyer nor seller under undue pressure. - ANSWER-D:
Market value-the most probable price, for which the property
should be sold with the buyer and seller acting prudently, neither
is under undue duress.
1-A broker legitimately may pay all or part of Real estate
commission to a
a. seller
b. salesperson
c. buyer
d. friend who provides a listing lead - ANSWER--B: Salesperson
can accept compensation only from their sponsoring broker.
,3|Page
2-The minimum age for a New York real estate broker's license is
a. 19.
b. 18.
c. 20.
d. 21. - ANSWER-C. As of July 1,2008 to become a broker you
must be 20 years old.
3-Which of the following acts would require a real estate license in
New York
a. Sale of one's own property
b. Sale by the owner's lawyer
c. Sale of land by an auctioneer
d. Foreclosure sale by court order - ANSWER-C: selling land at
an auction.
4-An associate broker may
a. sponsor a person for a salesperson's license.
b. collect his or her own real estate fees.
, 4|Page
c. act as a principal broker for another broker.
d. Work as a salesperson for a principal broker - ANSWER-D:
Associate broker is a licensed broker but chooses to work under
the supervision of another broker.
5-Violation of the license law is a misdemeanor, Punishable by up
to a year in jail and a fine of
Up to
a. $500.
b. $2,000.
c. $1,000.
d. $1,500. - ANSWER-C: DOS may impose a fine not to exceed
$1000.
6-When salesperson Tom Jones left ABC Realty And went to work
with XYZ REALTORS,
Tom's listings
a. became null and void.
b. Remained with ABC Realty.
