NEW YORK STATE REAL ESTATE SALESPERSON
LICENSING EXAM 2026 QUESTION PROPERTY
LAW MODULE SOLVED ITEMS AND RESPONSE
KEY
◉ Who is usually exempt from property taxes? Answer: Disabled,
veterans, farmers, elderly gold star parents *kids die in the war, star
program homeowners
◉ Who is not usually exempt from property taxes? Answer: Second
home owners
◉ What covers fully or personal property lost in a fire? Answer:
Replacement cost
◉ Find the square footage of a rectangular shaped floor plan. How
do you find the area of a square/rectangle? Answer: Length x Width
= Area
◉ What is the cash on cash return on a $2,000,000 property with a
down payment of $500,000 and $15,000 monthly rental income?
Answer: 36%
, ◉ Who hires the agent? Answer: Principal or client
◉ What is not a CMA (Comparative Market Analysis?) Answer: An
apprasial
◉ What cannot a salesperson do? Answer: Collect money directly
from the client or customer
◉ When should the Agency disclosure form be submitted? Answer:
At the first substantive contact
◉ Which document describes the agency (who he or she represents)
of the salesperson? Answer: Agency disclosure form
◉ What is another name for the slope of a roof? Answer: Pitch
◉ What carcinogenic component was used as insulation in electric
transformers that contaminated soil and ground water? Answer:
PCB's or polychlorinated biphenyls
◉ What can brokers provide their salespeople if they are
independent contractors? Answer: Office phone
LICENSING EXAM 2026 QUESTION PROPERTY
LAW MODULE SOLVED ITEMS AND RESPONSE
KEY
◉ Who is usually exempt from property taxes? Answer: Disabled,
veterans, farmers, elderly gold star parents *kids die in the war, star
program homeowners
◉ Who is not usually exempt from property taxes? Answer: Second
home owners
◉ What covers fully or personal property lost in a fire? Answer:
Replacement cost
◉ Find the square footage of a rectangular shaped floor plan. How
do you find the area of a square/rectangle? Answer: Length x Width
= Area
◉ What is the cash on cash return on a $2,000,000 property with a
down payment of $500,000 and $15,000 monthly rental income?
Answer: 36%
, ◉ Who hires the agent? Answer: Principal or client
◉ What is not a CMA (Comparative Market Analysis?) Answer: An
apprasial
◉ What cannot a salesperson do? Answer: Collect money directly
from the client or customer
◉ When should the Agency disclosure form be submitted? Answer:
At the first substantive contact
◉ Which document describes the agency (who he or she represents)
of the salesperson? Answer: Agency disclosure form
◉ What is another name for the slope of a roof? Answer: Pitch
◉ What carcinogenic component was used as insulation in electric
transformers that contaminated soil and ground water? Answer:
PCB's or polychlorinated biphenyls
◉ What can brokers provide their salespeople if they are
independent contractors? Answer: Office phone
