New York State Real Estate Salesperson Licensing Exam.
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In NYS, how old must one be to enter into contracts? - ✔✔18
What other capability should they possess? - ✔✔Mental and emotional capability
What happens if one of the parties to the contract is a minor? - ✔✔The contract
is voidable by the minor
What does the zoning board of appeals do? - ✔✔Grants variances
What regulates construction standards in NYS? - ✔✔Building codes
What does municipal engineer's office do? - ✔✔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? - ✔✔It must include the name of the geographical
area where the property is actually located
Who is usually exempt from property taxes? - ✔✔Disabled, veterans, farmers,
elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - ✔✔Second home owners
What covers fully or personal property lost in a fire? - ✔✔Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the
area of a square/rectangle? - ✔✔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? - ✔✔36%
Who hires the agent? - ✔✔Principal or client
What is not a CMA (Comparative Market Analysis?) - ✔✔An apprasial
What cannot a salesperson do? - ✔✔Collect money directly from the client or
customer
1
, When should the Agency disclosure form be submitted? - ✔✔At the first
substantive contact
Which document describes the agency (who he or she represents) of the
salesperson? - ✔✔Agency disclosure form
What is another name for the slope of a roof? - ✔✔Pitch
What carcinogenic component was used as insulation in electric transformers
that contaminated soil and ground water? - ✔✔PCB's or polychlorinated
biphenyls
What can brokers provide their salespeople if they are independent contractors?
- ✔✔Office phone
Whats right to access whiter from a river or stream called? - ✔✔Riparian
What did the civil rights act of 1866 protect without exception? - ✔✔Race
What did the 1988 amendment to the civil rights act protect? - ✔✔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? - ✔✔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? -
✔✔Redlining
Unless specified a lesser estate, transfer of title to real property in NYS creates
what type of interest? - ✔✔Fee Simple
What is another name for transfer of title to real property? - ✔✔Conveyance
What is it called when the government dictates how a property can be used? -
✔✔Zoning
Who issues real estate licenses? - ✔✔NY Department of State
Who oversees licensing and registration of mortgage bankers and brokers? -
✔✔NYS banking department
Which department oversees drinking water safety? - ✔✔Department of Health
2
Save |Verified Answers 100%
In NYS, how old must one be to enter into contracts? - ✔✔18
What other capability should they possess? - ✔✔Mental and emotional capability
What happens if one of the parties to the contract is a minor? - ✔✔The contract
is voidable by the minor
What does the zoning board of appeals do? - ✔✔Grants variances
What regulates construction standards in NYS? - ✔✔Building codes
What does municipal engineer's office do? - ✔✔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? - ✔✔It must include the name of the geographical
area where the property is actually located
Who is usually exempt from property taxes? - ✔✔Disabled, veterans, farmers,
elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - ✔✔Second home owners
What covers fully or personal property lost in a fire? - ✔✔Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the
area of a square/rectangle? - ✔✔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? - ✔✔36%
Who hires the agent? - ✔✔Principal or client
What is not a CMA (Comparative Market Analysis?) - ✔✔An apprasial
What cannot a salesperson do? - ✔✔Collect money directly from the client or
customer
1
, When should the Agency disclosure form be submitted? - ✔✔At the first
substantive contact
Which document describes the agency (who he or she represents) of the
salesperson? - ✔✔Agency disclosure form
What is another name for the slope of a roof? - ✔✔Pitch
What carcinogenic component was used as insulation in electric transformers
that contaminated soil and ground water? - ✔✔PCB's or polychlorinated
biphenyls
What can brokers provide their salespeople if they are independent contractors?
- ✔✔Office phone
Whats right to access whiter from a river or stream called? - ✔✔Riparian
What did the civil rights act of 1866 protect without exception? - ✔✔Race
What did the 1988 amendment to the civil rights act protect? - ✔✔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? - ✔✔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? -
✔✔Redlining
Unless specified a lesser estate, transfer of title to real property in NYS creates
what type of interest? - ✔✔Fee Simple
What is another name for transfer of title to real property? - ✔✔Conveyance
What is it called when the government dictates how a property can be used? -
✔✔Zoning
Who issues real estate licenses? - ✔✔NY Department of State
Who oversees licensing and registration of mortgage bankers and brokers? -
✔✔NYS banking department
Which department oversees drinking water safety? - ✔✔Department of Health
2
