NYREI SCHOOL EXAM WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2025 – 2026
When someone dies without a will and without heirs or
creditors, his properly reverts to the state through the
process of - ANSWERS-escheat
Lyle bought a duplex for $200,000 and leases each
apartment for $580 a month. The land on which the duplex
sits is valued at $30,000. How much can Lyle deduct from his
income tax each year for straight line depreciation (rounded
to the nearest dollar)? - ANSWERS-
A _____ has a fiduciary obligation to a _____. - ANSWERS-
property manager / property owner
, Fred has missed two mortgage payments. What clause
would allow his lender to demand that he pay the entire
balance now? - ANSWERS-acceleration clause
In New York, which cost at closing is most typically paid by
the seller? - ANSWERS-real property transfer tax
Each of these is a type of construction framing EXCEPT -
ANSWERS-slab on grade construction.
A homeowner facing foreclosure has a number of liens: The
original mortgage, a mechanic's lien from six months ago, a
judgment lien from two years ago, and a property tax lien
that was just filed. When the property is sold, which lien
will be paid first from the proceeds? - ANSWERS-property
tax lien
What is another word for principal? - ANSWERS-Client. The
principal in any fiduciary relationship is the client.
The tenant signs a two-month lease on an apartment ending
September 1. What type of leasehold estate does this
represent? - ANSWERS-estate for years
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2025 – 2026
When someone dies without a will and without heirs or
creditors, his properly reverts to the state through the
process of - ANSWERS-escheat
Lyle bought a duplex for $200,000 and leases each
apartment for $580 a month. The land on which the duplex
sits is valued at $30,000. How much can Lyle deduct from his
income tax each year for straight line depreciation (rounded
to the nearest dollar)? - ANSWERS-
A _____ has a fiduciary obligation to a _____. - ANSWERS-
property manager / property owner
, Fred has missed two mortgage payments. What clause
would allow his lender to demand that he pay the entire
balance now? - ANSWERS-acceleration clause
In New York, which cost at closing is most typically paid by
the seller? - ANSWERS-real property transfer tax
Each of these is a type of construction framing EXCEPT -
ANSWERS-slab on grade construction.
A homeowner facing foreclosure has a number of liens: The
original mortgage, a mechanic's lien from six months ago, a
judgment lien from two years ago, and a property tax lien
that was just filed. When the property is sold, which lien
will be paid first from the proceeds? - ANSWERS-property
tax lien
What is another word for principal? - ANSWERS-Client. The
principal in any fiduciary relationship is the client.
The tenant signs a two-month lease on an apartment ending
September 1. What type of leasehold estate does this
represent? - ANSWERS-estate for years
