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NYREI SCHOOL EXAM QUESTIONS AND CORRECT ANSWERS

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NYREI SCHOOL EXAM QUESTIONS AND CORRECT ANSWERS

Institution
NYREI
Course
NYREI

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A house has many liens, in foreclosure, which lien is paid first?


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property tax




Which duty lasts forever?


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confidentiality




ABC utility has the right to enter a homeowners property to repair electric lines. What
kind of easement does that represent?

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easement in gross




what does real estate settlement procedures act require from banks


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give borrower good faith estimate of closing costs




which is a limited common area


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driveway for a particular unit




what groups were protected in 1988?


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disabled & familial status (kids)




individuals posing as home seekers but are really volunteers investigating equal
treatment by brokerages are


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, testers




What must SP give tenants/buyers of homes built before 1978?


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lead disclosure + "protect your family" booklet




what is highest form of free hold?


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fee simple




what assures grantee that grantor holds title to property being conveyed?


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covenant of seizin




what is experience requirement to become a mortgage broker if applicant is already a
licensed broker?


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, 0




what is the most common mortgage?


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fixed rate amortized




Sam will this house to his granddaughter for as long as sam's wife lives. This is known
as:


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life estate guarantee




an old theatre is for sale. if towns people want it to stay in its present condition, what
agency do they go to


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architectural review board




what deed could clear a cloud on title after a suit to quiet title?


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Institution
NYREI
Course
NYREI

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