NYS Real Estate Practice Exam | Questions & Expertly Verified Answers – 2026 | 2027 (Latest Update Rated A)

NYS Real Estate Practice Exam | Questions & Expertly Verified Answers – 2026 | 2027 (Latest Update Rated A) Quiz_________________? ((1000x52)/12)x.28= 1,213.33 - ANSWERS Joe earns 1000 per week. His local bank is willing to give him mortgage financing based on front end ratio of 28%. What does he qualify for as a monthly payment? Quiz_________________? $1000 fine, and up to one year in jail - ANSWERS What is the possible penalty of violating Real Estate Licensee Law? Quiz_________________? $250,000 - ANSWERS How much is the capital gains tax incentive for a single person? Quiz_________________? $500 - ANSWERS If a seller decides not to provide the purchaser with the Property Condition Disclosure Form, how much of a reduction in price does he have to give? Quiz_________________? $500,000 - ANSWERS How much is the capital gains tax incentive for a married couple? Quiz_________________? 1% - ANSWERS Each discount point or discount points are generally what percentage of the total loan amount? Quiz_________________? 10 years through Adverse Possession - ANSWERS For how many years must another use some one else property for it to become theres? Quiz_________________? 10,000-8,000/10,000=.20 or 20 % - ANSWERS a building has 10,000 rentable square feet and 8,000 usuable square feet. What is the loss factor? Quiz_________________? 100-A - ANSWERS What is the minimum amperage for new construction in NYS? Quiz_________________? 110 V - ANSWERS What is the standard voltage in the US? Quiz_________________? 15K X 12/ 500k =.36 - ANSWERS joe buys a building for 2,000,000 laying out 500K. The building generates 15K / month. What is CoCR? Quiz_________________? 18 - ANSWERS At what age can you become a real estate salesperson? Quiz_________________? 18 - ANSWERS What is the minimum age to enter into a contract? Quiz_________________? 180000x.1+180000= 198000 - ANSWERS if a seller nets 180 k from the sale of his property after paying a 10% broker fee, what was the selling price of the property? Quiz_________________? 1866 - ANSWERS What was the year of the first major federal housing legislation? Quiz_________________? 1866 - ANSWERS What was the year of the first major legislation to directly affect property ownership rights? Quiz_________________? 1968 - ANSWERS What was the year of the second major piece of federal fair housing legislation? Quiz_________________? 1978 - ANSWERS I have to give the "protect your family from lead paint in your home" and the lead paint disclosure form to prospective buyers and tenants if the building was constructed in? Quiz_________________? 2 years - ANSWERS As a real estate sales person, you have to take continuing ed classes every? Quiz_________________? 20 - ANSWERS What is the minimum age to become a real estate broker?