NYS Real Estate Exam Newest 2026 Questions
and Correct Detailed Answers Already Graded A+
What is the name for dividing financial responsibility for payment of rents, taxes
and insurances between buyer and seller on a closing statement? - CORRECT
ANSWER-Proration
Which type of insurance policy would protect the holder from defects in the
evidence of real property ownership? - CORRECT ANSWER-Title
Why does a landlord want a percentage lease with a retail tenant? - CORRECT
ANSWER-The landlord shares in the tenant's business profits
What is a requirement for a real estate contract to be valid? - CORRECT
ANSWER-There must be an offer and acceptance
Which party to a real estate contract of sale usually signs it first? - CORRECT
ANSWER-Purchaser
,The requirement to provide a loan estimate form for all closing costs to the
borrower for most residential mortgage loans is the? - CORRECT ANSWER-
TILA-RESPA Integrated Disclosure Rule (TRID)
According to the New York State Real Property Law, a real estate salesperson's
license is issued for a term of how many years? - CORRECT ANSWER-Two
What type of residential real property transfer would require a property condition
disclosure statement? - CORRECT ANSWER-Re-sales
What happens to the licenses of salespersons if their sponsoring broker's license
is revoked or suspended? - CORRECT ANSWER-They are suspended
A listing broker for the seller has a buyer-client who asks to see the listing. This
request could create which type of agency? - CORRECT ANSWER-Dual Agency
A broker's compensation is determined in an agreement between the broker and
the? - CORRECT ANSWER-Seller
,What fiduciary duty would be violated when a client suffers a financial loss as a
result of an agent's lack of expertise in dealing with a particular type of property?
- CORRECT ANSWER-Reasonable care
If clients who sign an "exclusive right to sell" listing agreement with a broker find
a buyer for the property on their own, the broker is - CORRECT ANSWER-
Entitled to the originally agreed upon commission.
At an open house, Quentin discloses to an interested buyer that he has the right
to his own representation but the buyer refuses. The buyer's relationship to
Quentin is as a(n)? - CORRECT ANSWER-Customer
The main purpose of the agency disclosure form is to? - CORRECT ANSWER-
Inform consumers of the agency relationship of themselves to a real estate agent
and available choices for representation.
What scenario best illustrates the first substantive contact with a prospective
buyer? - CORRECT ANSWER-An individual meeting with an agent face-to-face
and discussing a specific property.
What type of real estate agent is authorized to represent a principal in one
specific transaction? - CORRECT ANSWER-Special
, The broker's principal is always the? - CORRECT ANSWER-Client
Suzie Seller has chosen Broker Bovice to represent her in the sale of her house.
Broker Bovice will advance and protect Suzie's interest during the sale. What
word best describes their relationship? - CORRECT ANSWER-Fiduciary
Which legal right allows an owner of land bordering a river or stream to use that
water for recreational purposes? - CORRECT ANSWER-Riparian
Which form of ownership can only be held by a married couple? - CORRECT
ANSWER-Tenancy by the entirety
Which types of estate is recognized by law to be the fullest form of ownership? -
CORRECT ANSWER-Fee simple absolute (Unless contract says otherwise)
What deed provision would prohibit an owner from installing an inground pool? -
CORRECT ANSWER-Restrictive covenant
What lien has priority over all recorded liens? - CORRECT ANSWER-A real
estate tax lien
and Correct Detailed Answers Already Graded A+
What is the name for dividing financial responsibility for payment of rents, taxes
and insurances between buyer and seller on a closing statement? - CORRECT
ANSWER-Proration
Which type of insurance policy would protect the holder from defects in the
evidence of real property ownership? - CORRECT ANSWER-Title
Why does a landlord want a percentage lease with a retail tenant? - CORRECT
ANSWER-The landlord shares in the tenant's business profits
What is a requirement for a real estate contract to be valid? - CORRECT
ANSWER-There must be an offer and acceptance
Which party to a real estate contract of sale usually signs it first? - CORRECT
ANSWER-Purchaser
,The requirement to provide a loan estimate form for all closing costs to the
borrower for most residential mortgage loans is the? - CORRECT ANSWER-
TILA-RESPA Integrated Disclosure Rule (TRID)
According to the New York State Real Property Law, a real estate salesperson's
license is issued for a term of how many years? - CORRECT ANSWER-Two
What type of residential real property transfer would require a property condition
disclosure statement? - CORRECT ANSWER-Re-sales
What happens to the licenses of salespersons if their sponsoring broker's license
is revoked or suspended? - CORRECT ANSWER-They are suspended
A listing broker for the seller has a buyer-client who asks to see the listing. This
request could create which type of agency? - CORRECT ANSWER-Dual Agency
A broker's compensation is determined in an agreement between the broker and
the? - CORRECT ANSWER-Seller
,What fiduciary duty would be violated when a client suffers a financial loss as a
result of an agent's lack of expertise in dealing with a particular type of property?
- CORRECT ANSWER-Reasonable care
If clients who sign an "exclusive right to sell" listing agreement with a broker find
a buyer for the property on their own, the broker is - CORRECT ANSWER-
Entitled to the originally agreed upon commission.
At an open house, Quentin discloses to an interested buyer that he has the right
to his own representation but the buyer refuses. The buyer's relationship to
Quentin is as a(n)? - CORRECT ANSWER-Customer
The main purpose of the agency disclosure form is to? - CORRECT ANSWER-
Inform consumers of the agency relationship of themselves to a real estate agent
and available choices for representation.
What scenario best illustrates the first substantive contact with a prospective
buyer? - CORRECT ANSWER-An individual meeting with an agent face-to-face
and discussing a specific property.
What type of real estate agent is authorized to represent a principal in one
specific transaction? - CORRECT ANSWER-Special
, The broker's principal is always the? - CORRECT ANSWER-Client
Suzie Seller has chosen Broker Bovice to represent her in the sale of her house.
Broker Bovice will advance and protect Suzie's interest during the sale. What
word best describes their relationship? - CORRECT ANSWER-Fiduciary
Which legal right allows an owner of land bordering a river or stream to use that
water for recreational purposes? - CORRECT ANSWER-Riparian
Which form of ownership can only be held by a married couple? - CORRECT
ANSWER-Tenancy by the entirety
Which types of estate is recognized by law to be the fullest form of ownership? -
CORRECT ANSWER-Fee simple absolute (Unless contract says otherwise)
What deed provision would prohibit an owner from installing an inground pool? -
CORRECT ANSWER-Restrictive covenant
What lien has priority over all recorded liens? - CORRECT ANSWER-A real
estate tax lien
