CE SHOP NYS FINAL REAL ESTATE
EXAM QUESTIONS AND ANSWERS
Which of the following is defined as the direction and distance of a line forming the
boundary of a property? - Answer-Metes
Ellen has only been licensed for two weeks, but she's already toured the home of
potential clients, the Birds. What should she do to next to secure the listing? - Answer-
Prepare a CMA.
A cooperative is a(n) _____. - Answer-not-for-profit corporation
What act requires sellers, landlords, and their agents to disclose any known lead
hazards in the home? - Answer-Residential Lead-Based Paint Hazard Reduction Act
What happens to the interest earned on earnest money deposited into a trust fund or
escrow account? - Answer-There is generally no interest
In what year was the Americans with Disabilities Act made law? - Answer-1990
Where can an agent report an antitrust violation? - Answer-Citizens Complaint Center of
the DOJ's Antitrust Division
Andrew just received a compensation check from his brokerage firm. Since Andrew is
an independent contractor, what determines how he's paid? - Answer-Andrew's sales
Prior to signing the closing documents, what should the parties have already done? -
Answer-Assured themselves that the conditions and contingencies of the purchase
agreement have been met.
Most licensees spend a lot of time in their car. Which of these is NOT a recommended
action for maintaining safety on the road? - Answer-Keep your vehicle information
confidential.
In New York, unlicensed professionals can inspect and test for bug infestations.
However, the use of pesticides to treat a home requires licensing through the
______________. - Answer-Department of Environmental Conservation
Claire, a seller, accepted an offer on her home. However, it just appraised for less than
the sales price. Which of the following is true? - Answer-The lender will only approve a
loan based on the property's appraised value.
EXAM QUESTIONS AND ANSWERS
Which of the following is defined as the direction and distance of a line forming the
boundary of a property? - Answer-Metes
Ellen has only been licensed for two weeks, but she's already toured the home of
potential clients, the Birds. What should she do to next to secure the listing? - Answer-
Prepare a CMA.
A cooperative is a(n) _____. - Answer-not-for-profit corporation
What act requires sellers, landlords, and their agents to disclose any known lead
hazards in the home? - Answer-Residential Lead-Based Paint Hazard Reduction Act
What happens to the interest earned on earnest money deposited into a trust fund or
escrow account? - Answer-There is generally no interest
In what year was the Americans with Disabilities Act made law? - Answer-1990
Where can an agent report an antitrust violation? - Answer-Citizens Complaint Center of
the DOJ's Antitrust Division
Andrew just received a compensation check from his brokerage firm. Since Andrew is
an independent contractor, what determines how he's paid? - Answer-Andrew's sales
Prior to signing the closing documents, what should the parties have already done? -
Answer-Assured themselves that the conditions and contingencies of the purchase
agreement have been met.
Most licensees spend a lot of time in their car. Which of these is NOT a recommended
action for maintaining safety on the road? - Answer-Keep your vehicle information
confidential.
In New York, unlicensed professionals can inspect and test for bug infestations.
However, the use of pesticides to treat a home requires licensing through the
______________. - Answer-Department of Environmental Conservation
Claire, a seller, accepted an offer on her home. However, it just appraised for less than
the sales price. Which of the following is true? - Answer-The lender will only approve a
loan based on the property's appraised value.
