WITH 180 QUESTIONS AND WELL-
VERIFIED CORRECT ANSWERS |
ALREADY GRADED A+ | GUARANTEED
PASS | NYC REAL ESTATE WITH MATH
PRACTICE EXAM
Which document describes the agency(who he or she represents) of the
salesperson? - ANSWER-Agency disclosure form
Whats another name for the slope of the roof? - ANSWER-Pitch
What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - ANSWER-PCB or polychlorinated
biphenyls
What can brokers provide their salespeople if they are independent contractors? -
ANSWER-Office phone
,Whats the right to access water from a river or stream? - ANSWER-riparian
What did the Civil Rights Act of 1866 protect, without exception? - ANSWER-
Race
What did the 1988 amendment to the civil rights at protect? - ANSWER-Disability
& familial status
What is convincing owners to sell/lease property by telling them a particular group
of people are moving into the area called? - ANSWER-blockbusting
What is it called when lenders/insurance agents refuse to do business in a certain
area based on the characteristics of the people living there? - ANSWER-redlining
Unless specified a lesser estate, transfer of the title to real property in NYS creates
what type of interest? - ANSWER-Fee Simple
What is another name for transfer of title to real property? - ANSWER-
Conveyance
What is it called when the government dictates how a property can be used? -
ANSWER-Zoning
Who issues real estate Licenses? - ANSWER-NY department of State (DOS)
Who oversees licensing & registration of mortgage bankers and brokers? -
ANSWER-NYS banking department
, Which department oversees drinking water safety? - ANSWER-NYS department
of health
Who determines the commission? - ANSWER-Principal/Client & the broker
What occurs when the agent represents the seller but also works in the best
interests of the buyer? - ANSWER-Undisclosed dual agency
A real estate salesperson is what type of agent? - ANSWER-Special agent
What clause in the deed describes the property? - ANSWER-Legal descriptions
What type of income is partnerships/investments? - ANSWER-Portfolio
Whats the name of the policy that pro ides additional liability coverage beyond the
primary policy? - ANSWER-Umbrella policy
What type of maintenance is fixing a leaking faucet? - ANSWER-Corrective
maintenance
What are property taxes based on? - ANSWER-Assessed value
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - ANSWER-grantor