New York State Real Estate Salesperson
Licensing Exam UPDATED ACTUAL
Questions and CORRECT Answers
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER- ✔✔18
What other capability should they possess? - CORRECT ANSWER- ✔✔Mental and
emotional capability
What happens if one of the parties to the contract is a minor? - CORRECT ANSWER-
✔✔The contract is voidable by the minor
What does the zoning board of appeals do? - CORRECT ANSWER- ✔✔Grants variances
What regulates construction standards in NYS? - CORRECT ANSWER- ✔✔Building codes
What does municipal engineer's office do? - CORRECT ANSWER- ✔✔Oversees planning
and construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else
mud the ad include? - CORRECT ANSWER- ✔✔It must include the name of the
geographical area where the property is actually located
Who is usually exempt from property taxes? - CORRECT ANSWER- ✔✔Disabled, veterans,
farmers, elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - CORRECT ANSWER- ✔✔Second home
owners
What covers fully or personal property lost in a fire? - CORRECT ANSWER-
✔✔Replacement cost
, Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - CORRECT 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? - CORRECT ANSWER- ✔✔36%
Who hires the agent? - CORRECT ANSWER- ✔✔Principal or client
What is not a CMA (Comparative Market Analysis?) - CORRECT ANSWER- ✔✔An
apprasial
What cannot a salesperson do? - CORRECT ANSWER- ✔✔Collect money directly from the
client or customer
When should the Agency disclosure form be submitted? - CORRECT ANSWER- ✔✔At the
first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? -
CORRECT ANSWER- ✔✔Agency disclosure form
What is another name for the slope of a roof? - CORRECT ANSWER- ✔✔Pitch
What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - CORRECT ANSWER- ✔✔PCB's or polychlorinated
biphenyls
What can brokers provide their salespeople if they are independent contractors? - CORRECT
ANSWER- ✔✔Office phone
Whats right to access whiter from a river or stream called? - CORRECT ANSWER-
✔✔Riparian
Licensing Exam UPDATED ACTUAL
Questions and CORRECT Answers
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER- ✔✔18
What other capability should they possess? - CORRECT ANSWER- ✔✔Mental and
emotional capability
What happens if one of the parties to the contract is a minor? - CORRECT ANSWER-
✔✔The contract is voidable by the minor
What does the zoning board of appeals do? - CORRECT ANSWER- ✔✔Grants variances
What regulates construction standards in NYS? - CORRECT ANSWER- ✔✔Building codes
What does municipal engineer's office do? - CORRECT ANSWER- ✔✔Oversees planning
and construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else
mud the ad include? - CORRECT ANSWER- ✔✔It must include the name of the
geographical area where the property is actually located
Who is usually exempt from property taxes? - CORRECT ANSWER- ✔✔Disabled, veterans,
farmers, elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - CORRECT ANSWER- ✔✔Second home
owners
What covers fully or personal property lost in a fire? - CORRECT ANSWER-
✔✔Replacement cost
, Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - CORRECT 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? - CORRECT ANSWER- ✔✔36%
Who hires the agent? - CORRECT ANSWER- ✔✔Principal or client
What is not a CMA (Comparative Market Analysis?) - CORRECT ANSWER- ✔✔An
apprasial
What cannot a salesperson do? - CORRECT ANSWER- ✔✔Collect money directly from the
client or customer
When should the Agency disclosure form be submitted? - CORRECT ANSWER- ✔✔At the
first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? -
CORRECT ANSWER- ✔✔Agency disclosure form
What is another name for the slope of a roof? - CORRECT ANSWER- ✔✔Pitch
What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - CORRECT ANSWER- ✔✔PCB's or polychlorinated
biphenyls
What can brokers provide their salespeople if they are independent contractors? - CORRECT
ANSWER- ✔✔Office phone
Whats right to access whiter from a river or stream called? - CORRECT ANSWER-
✔✔Riparian
