NY REAL ESTATE PRACTICE EXAM REVIEW
2026 BUNDLED EXAMS WITH SOLUTIONS
GUARANTEED A+
◉ What is overage rent? Answer: Rent calculated on a percentage of
sales volume
◉ what is the amount a buyer owes at closing equal to? Answer: The
excess of the buyers debits over the buyers credits
◉ real estate agents are typically what kind of agent. Answer: special
agent
◉ what is the employment contract between a property manager and
owner called. Answer: management agreement
◉ the first fine for a violation of federal fair housing law could be as
much as what amount. Answer: 10,000
,◉ what is a feature of a deed condition. Answer: it gives the grantor the
right to re possess the property if the grantee violates the condition
◉ according to truth in lending, a lender must disclose all of the
following except service charges points loan origination fee brokers
commission. Answer: brokers commission
◉ if a landlord terminates a lease illegally what type of suit would a
tenant file to comply with violated terms. Answer: specific performance
◉ what must a listing agent do before entering into a cooperative
agreement creating a subagency. Answer: obtain the informed consent of
the seller
◉ what is the minimum period of time over which the owner of an
apartment building can depreciate the improvements? Answer: 27.5
years
◉ who pays the real estate taxes for a condominium. Answer:
condominium owner
◉ which type of property usually has the longest lease term. Answer:
industrial
,◉ what is a policy that protects against claims above and beyond the
amount covered by primary policies. Answer: umbrella
◉ what is the amount of the surety bond that a mortgage broker must
furnish when applying for licensure in NYS. Answer: 10,000
◉ A section contains how many acres. Answer: 640
◉ seller will retain title to the property until buyer has paid in full. what
kind of contract do seller and buyer have? Answer: land contract
◉ who are the essential parties involved in an estate in trust. Answer:
trustor trustee and beneficiary
◉ allison is moving into a new condo. which of these documents does
not apply to her purchase. Answer: stock certificate
◉ what is the difference between a balloon loan and an amortized loan.
Answer: an amortized loan is paid off by the end of the term
, ◉ a daycare center is allowed to open in a residentially zoned area. what
is this an example of. Answer: special use permit
◉ which of these citites is the board not required to hold a public
hearing each year? albany buffalo nyc rochester. Answer: rochachacha
◉ in which of these places is asbestos not likely to be found? roofing,
adhesives in pressed wood, textured paint, vinyl floor tiles. Answer:
adhesives in pressed wood
◉ which law extended discrimination to include handicap and familial
status. Answer: fair housing amendment act
◉ what is an emblement? Answer: A plant or crop that is considered
personal property
◉ which of the following statements about plumbing venting is true.
Answer: venting is not required for structures taller than 2 stories.
◉ which statement is not true? mold often grows where it can't be seen,
of all environmetnal hazards, radon is the easiest to detect and mitigate,
underground storage tanks pose no hazard to residential areas, urea
formaldehyde foam insulation is no longer used because of
2026 BUNDLED EXAMS WITH SOLUTIONS
GUARANTEED A+
◉ What is overage rent? Answer: Rent calculated on a percentage of
sales volume
◉ what is the amount a buyer owes at closing equal to? Answer: The
excess of the buyers debits over the buyers credits
◉ real estate agents are typically what kind of agent. Answer: special
agent
◉ what is the employment contract between a property manager and
owner called. Answer: management agreement
◉ the first fine for a violation of federal fair housing law could be as
much as what amount. Answer: 10,000
,◉ what is a feature of a deed condition. Answer: it gives the grantor the
right to re possess the property if the grantee violates the condition
◉ according to truth in lending, a lender must disclose all of the
following except service charges points loan origination fee brokers
commission. Answer: brokers commission
◉ if a landlord terminates a lease illegally what type of suit would a
tenant file to comply with violated terms. Answer: specific performance
◉ what must a listing agent do before entering into a cooperative
agreement creating a subagency. Answer: obtain the informed consent of
the seller
◉ what is the minimum period of time over which the owner of an
apartment building can depreciate the improvements? Answer: 27.5
years
◉ who pays the real estate taxes for a condominium. Answer:
condominium owner
◉ which type of property usually has the longest lease term. Answer:
industrial
,◉ what is a policy that protects against claims above and beyond the
amount covered by primary policies. Answer: umbrella
◉ what is the amount of the surety bond that a mortgage broker must
furnish when applying for licensure in NYS. Answer: 10,000
◉ A section contains how many acres. Answer: 640
◉ seller will retain title to the property until buyer has paid in full. what
kind of contract do seller and buyer have? Answer: land contract
◉ who are the essential parties involved in an estate in trust. Answer:
trustor trustee and beneficiary
◉ allison is moving into a new condo. which of these documents does
not apply to her purchase. Answer: stock certificate
◉ what is the difference between a balloon loan and an amortized loan.
Answer: an amortized loan is paid off by the end of the term
, ◉ a daycare center is allowed to open in a residentially zoned area. what
is this an example of. Answer: special use permit
◉ which of these citites is the board not required to hold a public
hearing each year? albany buffalo nyc rochester. Answer: rochachacha
◉ in which of these places is asbestos not likely to be found? roofing,
adhesives in pressed wood, textured paint, vinyl floor tiles. Answer:
adhesives in pressed wood
◉ which law extended discrimination to include handicap and familial
status. Answer: fair housing amendment act
◉ what is an emblement? Answer: A plant or crop that is considered
personal property
◉ which of the following statements about plumbing venting is true.
Answer: venting is not required for structures taller than 2 stories.
◉ which statement is not true? mold often grows where it can't be seen,
of all environmetnal hazards, radon is the easiest to detect and mitigate,
underground storage tanks pose no hazard to residential areas, urea
formaldehyde foam insulation is no longer used because of
