NYC REAL ESTATE EXAM 2024 QUESTIONS WITH
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - CORRECT ANSWER D- grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months - CORRECT ANSWER A- 1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral - CORRECT ANSWER C- parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above - CORRECT ANSWER B- if you have an agency contract with
the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The lien
now:
a) is void
, NYC REAL ESTATE EXAM 2024 QUESTIONS WITH
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied - CORRECT ANSWER C- remains as a claim against the
property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000. What is
the rate of return on profit on this house? - CORRECT ANSWER 12.47%
478,000-425,000= 53,000
53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with annual
information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document - CORRECT ANSWER a- assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures - CORRECT ANSWER B- proration
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER 18
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - CORRECT ANSWER D- grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months - CORRECT ANSWER A- 1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral - CORRECT ANSWER C- parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above - CORRECT ANSWER B- if you have an agency contract with
the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The lien
now:
a) is void
, NYC REAL ESTATE EXAM 2024 QUESTIONS WITH
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied - CORRECT ANSWER C- remains as a claim against the
property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000. What is
the rate of return on profit on this house? - CORRECT ANSWER 12.47%
478,000-425,000= 53,000
53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with annual
information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document - CORRECT ANSWER a- assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures - CORRECT ANSWER B- proration
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER 18
