New York State Real Estate Salesperson
Licensing Exam Questions With Verified
Answers
/. In NYS, how old must one be to enter into contracts? - Answer-18
/.What other capability should they possess? - Answer-Mental and emotional capability
/.What happens if one of the parties to the contract is a minor? - Answer-The contract is
voidable by the minor
/.What does the zoning board of appeals do? - Answer-Grants variances
/.What regulates construction standards in NYS? - Answer-Building codes
/.What does municipal engineer's office do? - 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? - Answer-It must include the name of the geographical area
where the property is actually located
/.Who is usually exempt from property taxes? - Answer-Disabled, veterans, farmers,
elderly gold star parents *kids die in the war, star program homeowners
/.Who is not usually exempt from property taxes? - Answer-Second home owners
/.What covers fully or personal property lost in a fire? - Answer-Replacement cost
/.Find the square footage of a rectangular shaped floor plan. How do you find the area
of a square/rectangle? - 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? - Answer-36%
/.Who hires the agent? - Answer-Principal or client
/.What is not a CMA (Comparative Market Analysis?) - Answer-An apprasial
/.What cannot a salesperson do? - Answer-Collect money directly from the client or
customer
, /.When should the Agency disclosure form be submitted? - Answer-At the first
substantive contact
/.Which document describes the agency (who he or she represents) of the salesperson?
- Answer-Agency disclosure form
/.What is another name for the slope of a roof? - Answer-Pitch
/.What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - Answer-PCB's or polychlorinated biphenyls
/.What can brokers provide their salespeople if they are independent contractors? -
Answer-Office phone
/.Whats right to access whiter from a river or stream called? - Answer-Riparian
/.What did the civil rights act of 1866 protect without exception? - Answer-Race
/.What did the 1988 amendment to the civil rights act protect? - Answer-Disability and
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 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
/.Who oversees licensing and registration of mortgage bankers and brokers? - Answer-
NYS banking department
/.Which department oversees drinking water safety? - Answer-Department of Health
/.Who determines commission? - Answer-Principal/Client and the broker
/.What occurs when the agent represents the seller but also works in the best interests
of the buyer? - Answer-Undisclosed dual agency
Licensing Exam Questions With Verified
Answers
/. In NYS, how old must one be to enter into contracts? - Answer-18
/.What other capability should they possess? - Answer-Mental and emotional capability
/.What happens if one of the parties to the contract is a minor? - Answer-The contract is
voidable by the minor
/.What does the zoning board of appeals do? - Answer-Grants variances
/.What regulates construction standards in NYS? - Answer-Building codes
/.What does municipal engineer's office do? - 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? - Answer-It must include the name of the geographical area
where the property is actually located
/.Who is usually exempt from property taxes? - Answer-Disabled, veterans, farmers,
elderly gold star parents *kids die in the war, star program homeowners
/.Who is not usually exempt from property taxes? - Answer-Second home owners
/.What covers fully or personal property lost in a fire? - Answer-Replacement cost
/.Find the square footage of a rectangular shaped floor plan. How do you find the area
of a square/rectangle? - 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? - Answer-36%
/.Who hires the agent? - Answer-Principal or client
/.What is not a CMA (Comparative Market Analysis?) - Answer-An apprasial
/.What cannot a salesperson do? - Answer-Collect money directly from the client or
customer
, /.When should the Agency disclosure form be submitted? - Answer-At the first
substantive contact
/.Which document describes the agency (who he or she represents) of the salesperson?
- Answer-Agency disclosure form
/.What is another name for the slope of a roof? - Answer-Pitch
/.What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - Answer-PCB's or polychlorinated biphenyls
/.What can brokers provide their salespeople if they are independent contractors? -
Answer-Office phone
/.Whats right to access whiter from a river or stream called? - Answer-Riparian
/.What did the civil rights act of 1866 protect without exception? - Answer-Race
/.What did the 1988 amendment to the civil rights act protect? - Answer-Disability and
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 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
/.Who oversees licensing and registration of mortgage bankers and brokers? - Answer-
NYS banking department
/.Which department oversees drinking water safety? - Answer-Department of Health
/.Who determines commission? - Answer-Principal/Client and the broker
/.What occurs when the agent represents the seller but also works in the best interests
of the buyer? - Answer-Undisclosed dual agency
