NY Real Estate Practice Exam 2025. Complete
Genuine Exam Questions and Correct Answers.
Already Graded A+.
To be licensed as a real estate broker, an individual must be at least how old?
- CORRECT ANS >>c. 20
Which of the following individuals is exempt from licensure?
- CORRECT ANS >>a. attorneys admitted to practice in the New York courts
To save in paperwork, Broker Bright decides to combine her office operating account with the
deposits obtained from contracts of sale. Broker Bright is guilty of:
- CORRECT ANS >>b. illegal commingling of funds
A net listing is one:
- CORRECT ANS >>d. in which the seller specifies a certain amount of money to be received upon
sale of the property and all monies above
A broker's agent is hired by the:
- CORRECT ANS >>d. broker
Which of the following is TRUE regarding dual agency relationships in New York?
- CORRECT ANS >> they are permissible with timely disclosure and informed consent
A listing agreement in which the property is listed with only one broker who is entitled to a
commission if he sells the property but not if the owner sells the property is called a(n):
- CORRECT ANS >>d. exclusive agency agreement
The first law to address antitrust violations was the:
- CORRECT ANS >>c. Sherman Antitrust Act
Sell-It-Today Brokerage requires that purchasers of its listed property apply for a mortgage with EZ
Money Mortgage
- CORRECT ANS >>b. an example of an illegal tie-in arrangement
An agency relationship created by an oral or written agreement between principal and agent is a(n)
- CORRECT ANS >>b. express agency
Martin signs an exclusive-right-to-sell listing agreement for six months with Broker Gerald. Within
one month, Martin sells his house himself and refuses to pay a commission to Gerald. Martin's
behavior is a possible:
- CORRECT ANS >>b. breach of contract
, In a brokerage firm, the listing contracts are typically owned by the:
- CORRECT ANS >>d. are all cooperating agents
Which of the following activities is NOT an element of an independent contractor relationship?
- CORRECT ANS >>c. commissions are paid with deductions for income taxes
Real estate licensees are classified as independent contractors under which of the following?
- CORRECT ANS >>a. Section 3508 (a) (b) of the IRS Code
Which of the following is NOT one of the four unities required for joint tenancy?
- CORRECT ANS >>c. unity of partition
Francois and Helena purchase a property and their attorney tells them that their title offers them the
most complete form of ownership. Their ownership right is:
- CORRECT ANS >>b. fee simple absolute
Kelly's mother deeds Kelly her beach house for Kelly's lifetime. Then the property goes to the
A.S.P.C.A. in memory of the mother's favorite cat upon daughter Kelly's death. This is an example
of a:
- CORRECT ANS >>d. life estate
A judgment is an example of a(n):
- CORRECT ANS >>d. involuntary general lien
A legal notice that a lawsuit is pending concerning title to a particular property is called a(n)
- CORRECT ANS >>b. lis pendens
Lionel buys a cabin in a remote area and has no road access except through his neighbor's
adjoining property. Lionel's property requires a(n):
- CORRECT ANS >>c. easement by necessity
A type of deed used in bankruptcy proceedings and foreclosures is a(n):
- CORRECT ANS >>c. referee's deed
In order to claim title by adverse possession in New York, the use must be open and notorious for
how many years?
- CORRECT ANS >>b. 10
Which of the following would most likely prevent a closing from taking place?
- CORRECT ANS >>c. the existence of outstanding unpaid liens against the property
On the closing statement, which of the following appears as a buyer credit?
- CORRECT ANS >>a. earnest money deposit
Genuine Exam Questions and Correct Answers.
Already Graded A+.
To be licensed as a real estate broker, an individual must be at least how old?
- CORRECT ANS >>c. 20
Which of the following individuals is exempt from licensure?
- CORRECT ANS >>a. attorneys admitted to practice in the New York courts
To save in paperwork, Broker Bright decides to combine her office operating account with the
deposits obtained from contracts of sale. Broker Bright is guilty of:
- CORRECT ANS >>b. illegal commingling of funds
A net listing is one:
- CORRECT ANS >>d. in which the seller specifies a certain amount of money to be received upon
sale of the property and all monies above
A broker's agent is hired by the:
- CORRECT ANS >>d. broker
Which of the following is TRUE regarding dual agency relationships in New York?
- CORRECT ANS >> they are permissible with timely disclosure and informed consent
A listing agreement in which the property is listed with only one broker who is entitled to a
commission if he sells the property but not if the owner sells the property is called a(n):
- CORRECT ANS >>d. exclusive agency agreement
The first law to address antitrust violations was the:
- CORRECT ANS >>c. Sherman Antitrust Act
Sell-It-Today Brokerage requires that purchasers of its listed property apply for a mortgage with EZ
Money Mortgage
- CORRECT ANS >>b. an example of an illegal tie-in arrangement
An agency relationship created by an oral or written agreement between principal and agent is a(n)
- CORRECT ANS >>b. express agency
Martin signs an exclusive-right-to-sell listing agreement for six months with Broker Gerald. Within
one month, Martin sells his house himself and refuses to pay a commission to Gerald. Martin's
behavior is a possible:
- CORRECT ANS >>b. breach of contract
, In a brokerage firm, the listing contracts are typically owned by the:
- CORRECT ANS >>d. are all cooperating agents
Which of the following activities is NOT an element of an independent contractor relationship?
- CORRECT ANS >>c. commissions are paid with deductions for income taxes
Real estate licensees are classified as independent contractors under which of the following?
- CORRECT ANS >>a. Section 3508 (a) (b) of the IRS Code
Which of the following is NOT one of the four unities required for joint tenancy?
- CORRECT ANS >>c. unity of partition
Francois and Helena purchase a property and their attorney tells them that their title offers them the
most complete form of ownership. Their ownership right is:
- CORRECT ANS >>b. fee simple absolute
Kelly's mother deeds Kelly her beach house for Kelly's lifetime. Then the property goes to the
A.S.P.C.A. in memory of the mother's favorite cat upon daughter Kelly's death. This is an example
of a:
- CORRECT ANS >>d. life estate
A judgment is an example of a(n):
- CORRECT ANS >>d. involuntary general lien
A legal notice that a lawsuit is pending concerning title to a particular property is called a(n)
- CORRECT ANS >>b. lis pendens
Lionel buys a cabin in a remote area and has no road access except through his neighbor's
adjoining property. Lionel's property requires a(n):
- CORRECT ANS >>c. easement by necessity
A type of deed used in bankruptcy proceedings and foreclosures is a(n):
- CORRECT ANS >>c. referee's deed
In order to claim title by adverse possession in New York, the use must be open and notorious for
how many years?
- CORRECT ANS >>b. 10
Which of the following would most likely prevent a closing from taking place?
- CORRECT ANS >>c. the existence of outstanding unpaid liens against the property
On the closing statement, which of the following appears as a buyer credit?
- CORRECT ANS >>a. earnest money deposit
