NYS AYPO FINAL REAL
ESTATE EXAM REVIEW
COMPREHENSIVE
QUESTIONS (FREQUENTLY
TESTED) WITH VERIFIED
ANSWERS GRADED A+
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
, Contact for further consultation
1. What is the Age requirement to be a real estate agent? Answer: 18
2. what is the age requirement to be a real estate broker? Answer: 20
3. what is a critical issue for broker's agents ? Answer: vicarious liability
4. What are the possible consequences of violating article 12A?
Answer: 1,000 fine, license revocation, misdemeanor conviction
5. Unless it is a lesser estate, what kind of estate is it? Answer: fee
simple
6. What is the most amount of ownership you can get? Answer: Fee
simple absolute
7. What are examples of lesser estates? Answer: leasehold, specified lease, estate for
years, periodic tenancy
8. What is special about freehold estates? Answer: can be inherited, conisdered
ownership
9. what loan does a developer use to cover lots in a subdiviision? Answer:
blanket loan
10. what is it called when a lease allows landlord to get tenants
to pay unexpect- ed increases in operating costs? Answer: pass
, Contact for further consultation
through
11. In real estate, what is not prohibited by the Sherman Act?
Answer: Dual Agency
12. What are the conditions of Dual Agency? Answer: informed consent,
agreement form
13. If a building has 2 condod for residential and commercial
use, what is it called? Answer: Condop
14. How does a brokerage decide whom to represent? Answer: Most
brokerages establish a policy
15. What material are water mains made out of? Answer: Iron
16. In a tax grievance, who has the burden of proof? Answer:
Taxpayer
17. By law, a CMA can never be called? Answer: Appraisal
18. What does CMA stand for? Answer: Comparative Market Analysis
19. If one party in a bilateral contract fails to perfom it is? Answer:
Breach
20. What real estate is not assessed for tax purposes? Answer: all real
estate is assessed
, Contact for further consultation
21. How do condo residents take ownership of shared areas like
parking garage and lobby? Answer: tenancy in common
22. tenancy in common allows for Answer: unequal shares to be owned
23. Who holds the title of a specific co-op apartment? Answer: Co-op
cooperation
24. What does zoning board of appeals do? Answer: Review variances
25. What kinds of variances exist? Answer: use variance, area variance
26. Illegally rezoning one parcel to benefit one owner but
without following master plan Answer: spot zoning
ESTATE EXAM REVIEW
COMPREHENSIVE
QUESTIONS (FREQUENTLY
TESTED) WITH VERIFIED
ANSWERS GRADED A+
[Document subtitle]
[DATE]
[COMPANY NAME]
[Company address]
, Contact for further consultation
1. What is the Age requirement to be a real estate agent? Answer: 18
2. what is the age requirement to be a real estate broker? Answer: 20
3. what is a critical issue for broker's agents ? Answer: vicarious liability
4. What are the possible consequences of violating article 12A?
Answer: 1,000 fine, license revocation, misdemeanor conviction
5. Unless it is a lesser estate, what kind of estate is it? Answer: fee
simple
6. What is the most amount of ownership you can get? Answer: Fee
simple absolute
7. What are examples of lesser estates? Answer: leasehold, specified lease, estate for
years, periodic tenancy
8. What is special about freehold estates? Answer: can be inherited, conisdered
ownership
9. what loan does a developer use to cover lots in a subdiviision? Answer:
blanket loan
10. what is it called when a lease allows landlord to get tenants
to pay unexpect- ed increases in operating costs? Answer: pass
, Contact for further consultation
through
11. In real estate, what is not prohibited by the Sherman Act?
Answer: Dual Agency
12. What are the conditions of Dual Agency? Answer: informed consent,
agreement form
13. If a building has 2 condod for residential and commercial
use, what is it called? Answer: Condop
14. How does a brokerage decide whom to represent? Answer: Most
brokerages establish a policy
15. What material are water mains made out of? Answer: Iron
16. In a tax grievance, who has the burden of proof? Answer:
Taxpayer
17. By law, a CMA can never be called? Answer: Appraisal
18. What does CMA stand for? Answer: Comparative Market Analysis
19. If one party in a bilateral contract fails to perfom it is? Answer:
Breach
20. What real estate is not assessed for tax purposes? Answer: all real
estate is assessed
, Contact for further consultation
21. How do condo residents take ownership of shared areas like
parking garage and lobby? Answer: tenancy in common
22. tenancy in common allows for Answer: unequal shares to be owned
23. Who holds the title of a specific co-op apartment? Answer: Co-op
cooperation
24. What does zoning board of appeals do? Answer: Review variances
25. What kinds of variances exist? Answer: use variance, area variance
26. Illegally rezoning one parcel to benefit one owner but
without following master plan Answer: spot zoning
