NYC REAL ESTATE EXAM 2026-2027 VERIFIED
QUESTIONS AND ANSWERS GRADED A+
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor
grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months
1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral
,parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above
if you have an agency contract with the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The
lien now:
a) is void
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied
remains as a claim against the property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000.
What is the rate of return on profit on this house?
12.47%
478,000-425,000= 53,000
,53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with
annual information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document
assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures
B- proration
In NYS, how old must one be to enter into contracts?
18
, What other capability should they possess? (to enter contract)
Mental and emotional capability
What happens if one of the parties to the contract is a minor?
The contract is voidable by the minor
What does the zoning board of appeals do?
Grants variances
What regulates construction standards in NYS?
Building codes
What does municipal engineer's office do?
Oversees planning and construction of major highways, sewer systems & water
connections
If a property ad states that the property is near the vicinity of a geographical area,
what else must the ad include?
It must include the name of the geographical area where the property is actually
located
QUESTIONS AND ANSWERS GRADED A+
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor
grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months
1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral
,parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above
if you have an agency contract with the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The
lien now:
a) is void
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied
remains as a claim against the property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000.
What is the rate of return on profit on this house?
12.47%
478,000-425,000= 53,000
,53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with
annual information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document
assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures
B- proration
In NYS, how old must one be to enter into contracts?
18
, What other capability should they possess? (to enter contract)
Mental and emotional capability
What happens if one of the parties to the contract is a minor?
The contract is voidable by the minor
What does the zoning board of appeals do?
Grants variances
What regulates construction standards in NYS?
Building codes
What does municipal engineer's office do?
Oversees planning and construction of major highways, sewer systems & water
connections
If a property ad states that the property is near the vicinity of a geographical area,
what else must the ad include?
It must include the name of the geographical area where the property is actually
located
