NYREI School Exam Questions And Answers
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Sally is interested in renting the other half of an owner-occupied duplex. She calls
the listing broker about it who tells her that the owner, his client, does not allow
children. Who, if anyone, is violating fair housing laws in this situation? -
ANSWER -
ABC Mortgage Company loaned Judy $180,000 to buy a house. A week later,
they sold her mortgage on the secondary market. Who most likely bought Judy's
mortgage? - ANSWER -the Federal National Mortgage Association
An agent who discusses the commission rates charged by his broker with someone
from another agency could be accused of which antitrust violation? - ANSWER -
price fixing
Which agency issues real estate licenses in the State of New York? - ANSWER -
the Department of State
The fullest interest in property is known as what kind of estate? - ANSWER -fee
simple estate
A licensee attempts to get listings by telling homeowners in a neighborhood that
their property values will decline when a group of immigrants move in. The
licensee could be found guilty of - ANSWER -blockbusting.
A buyer makes an offer, contingent on selling his house first. What clause can be
included in the sales contract that would allow the seller to pursue other buyers in
the meantime? - ANSWER -escape clause
A building has 28,000 rentable square feet, 22,160 square feet of which are
considered useable. What is this building's loss factor? - ANSWER -20.9%
, In his first week on the job, property manager Tim checks the insurance coverage
for the building he manages and indicates potential needs for more coverage. This
is an example of Tim's obligation to - ANSWER -risk management
An agent owes all of these duties to a customer EXCEPT - ANSWER -
The Truth In Lending Act encompasses all of the following EXCEPT - ANSWER
-limits the number of points a lender may charge to close a commercial mortgage.
An agent lists a 1.8 acre properly for sale. The owner wants $3.25 per square foot.
What is the asking price of the properly? - ANSWER -$254,826.00
A listing broker must maintain a signed agency disclosure form - ANSWER -for at
least three years after the transaction closes.
Someone walks into an open house. The listing agent must present an agency
disclosure before - ANSWER -
A valid deed must contain whose signatures? - ANSWER -all granters
The owner of Oliver's Bakery leases space in a recently renovated building in an
up-and-coming neighborhood. His lease calls for a base rent of $3,500 per month
plus a 6% overage percentage. What is Oliver's base rent for the year? - ANSWER
-$42,000
Title to a specific cooperative apartment is held by - ANSWER -the corporation.
A husband and wife purchase a home. Unless specified otherwise, it is assumed
that they will take ownership as - ANSWER -tenants by the entirety.
A seller client has vicarious liability for each of these EXCEPT a - ANSWER -
broker's agent.
Verified 100% Correct |Latest 2025 | Guaranteed
Pass
Sally is interested in renting the other half of an owner-occupied duplex. She calls
the listing broker about it who tells her that the owner, his client, does not allow
children. Who, if anyone, is violating fair housing laws in this situation? -
ANSWER -
ABC Mortgage Company loaned Judy $180,000 to buy a house. A week later,
they sold her mortgage on the secondary market. Who most likely bought Judy's
mortgage? - ANSWER -the Federal National Mortgage Association
An agent who discusses the commission rates charged by his broker with someone
from another agency could be accused of which antitrust violation? - ANSWER -
price fixing
Which agency issues real estate licenses in the State of New York? - ANSWER -
the Department of State
The fullest interest in property is known as what kind of estate? - ANSWER -fee
simple estate
A licensee attempts to get listings by telling homeowners in a neighborhood that
their property values will decline when a group of immigrants move in. The
licensee could be found guilty of - ANSWER -blockbusting.
A buyer makes an offer, contingent on selling his house first. What clause can be
included in the sales contract that would allow the seller to pursue other buyers in
the meantime? - ANSWER -escape clause
A building has 28,000 rentable square feet, 22,160 square feet of which are
considered useable. What is this building's loss factor? - ANSWER -20.9%
, In his first week on the job, property manager Tim checks the insurance coverage
for the building he manages and indicates potential needs for more coverage. This
is an example of Tim's obligation to - ANSWER -risk management
An agent owes all of these duties to a customer EXCEPT - ANSWER -
The Truth In Lending Act encompasses all of the following EXCEPT - ANSWER
-limits the number of points a lender may charge to close a commercial mortgage.
An agent lists a 1.8 acre properly for sale. The owner wants $3.25 per square foot.
What is the asking price of the properly? - ANSWER -$254,826.00
A listing broker must maintain a signed agency disclosure form - ANSWER -for at
least three years after the transaction closes.
Someone walks into an open house. The listing agent must present an agency
disclosure before - ANSWER -
A valid deed must contain whose signatures? - ANSWER -all granters
The owner of Oliver's Bakery leases space in a recently renovated building in an
up-and-coming neighborhood. His lease calls for a base rent of $3,500 per month
plus a 6% overage percentage. What is Oliver's base rent for the year? - ANSWER
-$42,000
Title to a specific cooperative apartment is held by - ANSWER -the corporation.
A husband and wife purchase a home. Unless specified otherwise, it is assumed
that they will take ownership as - ANSWER -tenants by the entirety.
A seller client has vicarious liability for each of these EXCEPT a - ANSWER -
broker's agent.
