New York State Real Estate Salesperson Licensing
Exam – Practice Questions & 100% Verified Answers |
Complete NY Real Estate License Exam Review |
2026–2027
,A court renders a judgment which authorizes a lien to be General judgement lien.
placed against the defendant's house, car, and personal
belongings. What is this an example of?
What is required for a title to be marketable? It must be free of undisclosed defects and encumbrances.
Which law extended discrimination to include handicap Fair Housing Amendments Act.
and familial status?
What is the most common reason a property fails to sell? Overpricing.
What is overage rent? Rent calculated on a percentage of sales volume
The first fine for a violation of federal fair housing law could $10,000
be as much as what amount?
Real estate agents are typically what kind of agent? Special Agent
Which is considered to be a fixed operating expense? Insurance premiums.
Which of these is a distinguishing feature of a deed It gives the grantor the right to re-possess the property if the grantee violates the
condition? condition.
What is a policy that protects against claims above and Umbrella.
beyond the amount covered by primary policies?
Broker Jim signs a listing agreement with seller, Grace and Consensual dual agency.
a buyer agency agreement with buyer, Pat. Both Grace
and Pat signed written disclosure statements agreeing to
this arrangement. What is this relationship called?
What is the amount of the surety bond that a mortgage $10,000
broker must furnish when applying for licensure in New
York?
A landlord suddenly terminates a tenant's lease in violation Specific performance.
of the lease terms. The tenant takes action to compel the
landlord to comply with the violated terms. What kind of
suit is this?
Under federal income tax law, the "sale price" for a Sales price, minus any sales expenses.
personal property is which of the following?
What is the difference between a balloon loan and an An amortized loan is paid off by the end of the term. Balloon loan has a large
amortized loan? "Balloon" Payment at the end.
,What is an emblement? A plant or crop that is considered personal property.
A daycare center is allowed to open in a residentially- A special use permit.
zoned area. What is this an example of?
A historic preservation commission does not have the Require a property owner to restore a historic building.
power to do which of these?
A. Prevent an historic landmark from being torn down.
B. Review building plans for renovation of an historic
landmark.
C.Recommend a property for inclusion on the historic
landmark list.
D. Require a property owner to restore a historic building.
Who are the essential parties involved in an estate in Trustor, trustee and beneficiary.
trust?
"Everyone charges the same so you might as well list with Price fixing.
me" is an example of what?
Which of these properties would be considered a Warehouse
nonhomestead property?
A. Single family home.
B. Owner-occupied mobile home.
C. Small vacant lot.
D. Warehouse.
What do we use to show the percent of gross income that Break-even ratio.
is required to meet cash expenditures?
Broker Greg performed all of the following actions. Which Withheld earnest money that should have been returned to a purchaser.
one violates license law?
A. Split a commission with another broker.
B. Fired a non-productive salesperson.
C. Withheld earnest money that should have been
returned to a purchaser.
D. Sent compensation to a licensed broker in another
state.
What is the effective rental income for a company that has $152,100
a gross rent income of $164,100, vacancies worth
$12,000, extra income of $8,200 and operating expenses
of $28,400?
A parcel of land 250 feet wide and 150 feet deep sold for $6.40
$240,000. What was the price per square foot?
Hometown Bank and Trust refuses to lend money to Redlining.
homeowners trying to purchase property in a
predominantly Hispanic neighborhood. What is this
practice called?
Which property would most probably have the longest Industrial property.
lease term?
, In which of these cities is the Board not required to hold a Rochester.
public hearing each year?
A. Albany.
B. Buffalo.
C. New York City.
D. Rochester.
Which of the following is an allowed activity for an Get status reports on the loan progress.
unlicensed assistant?
A. Discuss specific properties with clients or customers.
B. Get status reports on the loan progress.
C. Clarify or interpret listings, contracts or other
transaction-related information.
D. Go to and conduct open houses.
Amanda Green sold her property to Sally Fay. Amanda will Land contract.
retain title to the property until Sally has paid in full. What
kind of contract do Amanda and Sally have?
Allison is moving into a new condominium. Which of these Stock certificate.
documents does not apply to her purchase?
A. Deed.
B. Certificate of occupancy.
C.Covenants, conditions and restrictions.
D. Stock certificate.
Sandy rents space in a building for her beauty and tanning Gross lease.
salon. She pays rent for occupancy, but the owner of the
building pays the taxes, insurance and other operating
expenses. What kind of lease does Sandy have?
John is doing a CMA for his potential sellers. He has If a comparable lacks a feature the subject property has, he will add the value of
collected the data on the seller's property and collected that feature to the comparable.
data on a number of comparables. Now he's ready to
make his price adjustments. Which statement is true?
A. If a comparable has a feature that the subject property
lacks, he will add the value of that feature to the subject
property.
B. If a comparable lacks a feature the subject property has,
he will subtract the value of that feature from the
comparable.
C. He should eliminate any comparable for which he would
need to make more than two adjustments.
D. If a comparable lacks a feature the subject property
has, he will add the value of that feature to the
comparable.
Which statement is false about Internet advertising? Any ads placed on the Internet must have a link to the licensee's email address.
A. On real estate web sites, a salesperson's name cannot
be displayed in type that is larger than the broker's name.
B. Any ads placed on the Internet must have a link to the
licensee's email address.
C. If a salesperson has a web site, the broker must
supervise the site.
D. Any ads placed on the Internet must have a link to the
firm's web site.
Who pays the real estate taxes for a condominium? Condominium owner.
Patrick has a written independent contractor agreement An employee.
with his broker Tami. Last year, about 25% of his income
came from sales commissions. The other 75% came from
an hourly wage paid by Tami. For income tax purposes,
the IRS would probably classify Patrick as
Exam – Practice Questions & 100% Verified Answers |
Complete NY Real Estate License Exam Review |
2026–2027
,A court renders a judgment which authorizes a lien to be General judgement lien.
placed against the defendant's house, car, and personal
belongings. What is this an example of?
What is required for a title to be marketable? It must be free of undisclosed defects and encumbrances.
Which law extended discrimination to include handicap Fair Housing Amendments Act.
and familial status?
What is the most common reason a property fails to sell? Overpricing.
What is overage rent? Rent calculated on a percentage of sales volume
The first fine for a violation of federal fair housing law could $10,000
be as much as what amount?
Real estate agents are typically what kind of agent? Special Agent
Which is considered to be a fixed operating expense? Insurance premiums.
Which of these is a distinguishing feature of a deed It gives the grantor the right to re-possess the property if the grantee violates the
condition? condition.
What is a policy that protects against claims above and Umbrella.
beyond the amount covered by primary policies?
Broker Jim signs a listing agreement with seller, Grace and Consensual dual agency.
a buyer agency agreement with buyer, Pat. Both Grace
and Pat signed written disclosure statements agreeing to
this arrangement. What is this relationship called?
What is the amount of the surety bond that a mortgage $10,000
broker must furnish when applying for licensure in New
York?
A landlord suddenly terminates a tenant's lease in violation Specific performance.
of the lease terms. The tenant takes action to compel the
landlord to comply with the violated terms. What kind of
suit is this?
Under federal income tax law, the "sale price" for a Sales price, minus any sales expenses.
personal property is which of the following?
What is the difference between a balloon loan and an An amortized loan is paid off by the end of the term. Balloon loan has a large
amortized loan? "Balloon" Payment at the end.
,What is an emblement? A plant or crop that is considered personal property.
A daycare center is allowed to open in a residentially- A special use permit.
zoned area. What is this an example of?
A historic preservation commission does not have the Require a property owner to restore a historic building.
power to do which of these?
A. Prevent an historic landmark from being torn down.
B. Review building plans for renovation of an historic
landmark.
C.Recommend a property for inclusion on the historic
landmark list.
D. Require a property owner to restore a historic building.
Who are the essential parties involved in an estate in Trustor, trustee and beneficiary.
trust?
"Everyone charges the same so you might as well list with Price fixing.
me" is an example of what?
Which of these properties would be considered a Warehouse
nonhomestead property?
A. Single family home.
B. Owner-occupied mobile home.
C. Small vacant lot.
D. Warehouse.
What do we use to show the percent of gross income that Break-even ratio.
is required to meet cash expenditures?
Broker Greg performed all of the following actions. Which Withheld earnest money that should have been returned to a purchaser.
one violates license law?
A. Split a commission with another broker.
B. Fired a non-productive salesperson.
C. Withheld earnest money that should have been
returned to a purchaser.
D. Sent compensation to a licensed broker in another
state.
What is the effective rental income for a company that has $152,100
a gross rent income of $164,100, vacancies worth
$12,000, extra income of $8,200 and operating expenses
of $28,400?
A parcel of land 250 feet wide and 150 feet deep sold for $6.40
$240,000. What was the price per square foot?
Hometown Bank and Trust refuses to lend money to Redlining.
homeowners trying to purchase property in a
predominantly Hispanic neighborhood. What is this
practice called?
Which property would most probably have the longest Industrial property.
lease term?
, In which of these cities is the Board not required to hold a Rochester.
public hearing each year?
A. Albany.
B. Buffalo.
C. New York City.
D. Rochester.
Which of the following is an allowed activity for an Get status reports on the loan progress.
unlicensed assistant?
A. Discuss specific properties with clients or customers.
B. Get status reports on the loan progress.
C. Clarify or interpret listings, contracts or other
transaction-related information.
D. Go to and conduct open houses.
Amanda Green sold her property to Sally Fay. Amanda will Land contract.
retain title to the property until Sally has paid in full. What
kind of contract do Amanda and Sally have?
Allison is moving into a new condominium. Which of these Stock certificate.
documents does not apply to her purchase?
A. Deed.
B. Certificate of occupancy.
C.Covenants, conditions and restrictions.
D. Stock certificate.
Sandy rents space in a building for her beauty and tanning Gross lease.
salon. She pays rent for occupancy, but the owner of the
building pays the taxes, insurance and other operating
expenses. What kind of lease does Sandy have?
John is doing a CMA for his potential sellers. He has If a comparable lacks a feature the subject property has, he will add the value of
collected the data on the seller's property and collected that feature to the comparable.
data on a number of comparables. Now he's ready to
make his price adjustments. Which statement is true?
A. If a comparable has a feature that the subject property
lacks, he will add the value of that feature to the subject
property.
B. If a comparable lacks a feature the subject property has,
he will subtract the value of that feature from the
comparable.
C. He should eliminate any comparable for which he would
need to make more than two adjustments.
D. If a comparable lacks a feature the subject property
has, he will add the value of that feature to the
comparable.
Which statement is false about Internet advertising? Any ads placed on the Internet must have a link to the licensee's email address.
A. On real estate web sites, a salesperson's name cannot
be displayed in type that is larger than the broker's name.
B. Any ads placed on the Internet must have a link to the
licensee's email address.
C. If a salesperson has a web site, the broker must
supervise the site.
D. Any ads placed on the Internet must have a link to the
firm's web site.
Who pays the real estate taxes for a condominium? Condominium owner.
Patrick has a written independent contractor agreement An employee.
with his broker Tami. Last year, about 25% of his income
came from sales commissions. The other 75% came from
an hourly wage paid by Tami. For income tax purposes,
the IRS would probably classify Patrick as
