New York Real Estate Exam Questions and
Answers (Verified Answers) (Latest Update 2025)
UPDATE!!
Save
Terms in this set (680)
Where is the license law Article 12-A
written?
Who is responsible for Department of State or Secretary of State
administrative discipline of
real estate licensees?
Under NYS Real Property One year
Law, when Department of
State revokes a
salesperson's license, how
much time must past
before the salesperson
can be relicensed?
If a broker's licensed is Their licenses are suspended until they find another
revoked, what happens to broker to supervise them/work under.
the salesperson's who
work under him/her?
What could happen to Lose their license, fined $1,000, a year in jail.
somebody who breaks
Article 12-A?
, Is a violation of 12-A a A misdemeanor
misdemeanor or a felony?
What dollar amount of $250,000
capital gains is tax-exempt
for a single person?
If a married couple sells They only pay if the profit is over $500,000
their house for a profit of
$300,000, on what amount
of capital gains do they
pay tax?
If a married couple They don't pay any capital gains.
bought a house for
$50,000 and sold it for
$400,000, what amount do
they pay in capital gains
tax?
If a seller fails to deliver a $500
property condition
disclosure statement
before the buyer signs the
contract of sale, how
much credit does the
buyer receive?
Which properties do not Residential new constructions, foreclosures, condos
need a property condition and co-ops
disclosure statement?
When does a seller have Before the buyer signs the sales contract.
to deliver a property
condition statement to the
buyer?
What liquid carcinogen PCBs (poly-chlorinated bhiphenyls)
can get into water or soil?
Answers (Verified Answers) (Latest Update 2025)
UPDATE!!
Save
Terms in this set (680)
Where is the license law Article 12-A
written?
Who is responsible for Department of State or Secretary of State
administrative discipline of
real estate licensees?
Under NYS Real Property One year
Law, when Department of
State revokes a
salesperson's license, how
much time must past
before the salesperson
can be relicensed?
If a broker's licensed is Their licenses are suspended until they find another
revoked, what happens to broker to supervise them/work under.
the salesperson's who
work under him/her?
What could happen to Lose their license, fined $1,000, a year in jail.
somebody who breaks
Article 12-A?
, Is a violation of 12-A a A misdemeanor
misdemeanor or a felony?
What dollar amount of $250,000
capital gains is tax-exempt
for a single person?
If a married couple sells They only pay if the profit is over $500,000
their house for a profit of
$300,000, on what amount
of capital gains do they
pay tax?
If a married couple They don't pay any capital gains.
bought a house for
$50,000 and sold it for
$400,000, what amount do
they pay in capital gains
tax?
If a seller fails to deliver a $500
property condition
disclosure statement
before the buyer signs the
contract of sale, how
much credit does the
buyer receive?
Which properties do not Residential new constructions, foreclosures, condos
need a property condition and co-ops
disclosure statement?
When does a seller have Before the buyer signs the sales contract.
to deliver a property
condition statement to the
buyer?
What liquid carcinogen PCBs (poly-chlorinated bhiphenyls)
can get into water or soil?
