NYS

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials What are the other DOS Licenses? (5) 1. Notary public 2. Apartment Information Vendor 3. Apartment Sharing Agent 4. Appraiser 5 Home inspector Office regulations 1. Must have appropriate office signage 2. Kickbacks are illegal! 3. Blind ads are illegal! (bait and switch) Administrative discipline for misdeeds (3) 1. suspension of license 2. Revocation of license (must wait one year before applying for licensing pr...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Which of the following can do the transaction without having a real estate license? A) A non-profit corporation negotiating rent for a branch office B) An office tenant negotiating rent on behalf of another tenant C) An executor selling property as part of the instructions left in a will D) A building superintendent collecting rent E) A salesperson who let her license expire and is selling property for a neighb...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? Two What happens to the licenses of salespersons if their sponsoring broker's license is revoked? They are suspended Which type of residential real property transfer would require a property to condition disclosure statement? Lease with an option to purchase A listing broker for the seller...

This document provides a complete and updated collection of New York State (NYS) Real Estate Exam questions with verified answers. It covers all essential topics required by the NYS licensing exam, including property ownership, land use controls, financing, agency relationships, contracts, and real estate law. Ideal for aspiring real estate professionals, this guide helps you master key concepts, prepare efficiently, and boost your confidence before the official exam.

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Which of these would void a deed intended to convey property? The grantee is not mentally competent. The grantee's signature is not acknowledged. The grantor is not mentally competent. The transfer includes no monetary consideration. The grantor is not mentally competent. What is the best description of a deed? - A covenant - A document to transfer ownership/interest in real estate - An abstract of title - A re...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Usury illegaly charging higher interest rates than the legal limit. Continuing Education A Real Estate license is valid for 2 years. To renew you have to take 22.5 hours within the 2 years and report to Dept of State. PITI Stands for Principal, Interest, Tax, Insurance. The costs of owning a home. Deed Restriction A clause in a deed that limits what owner can do with property. "Cannot build house to sidewalk" Re...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Real Estate Broker A licensed individual or firm that charges a fee to serve as the mediator between the buyer and seller. Mortgage brokers are individuals in the business of arranging funding or negotiating contracts for a client, but who does not loan the money. A real estate broker is someone who helps find a house. Real Estate Salesperson An individual who is licensed to negotiate and arrange real estate sales; works...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials JJ owns a building with 10 small office suites. The rent of each office is $2,000 per month. She averages 20% vacancy and collects $1,000 a year from the parking meters. What is the potential gross income for JJ's building? $240,000 Spencer financed the purchase of an office building with a $100,000 down payment and a $500,000 loan. His NOI is $56,000 and his debt service is $44,000. What is his cash-on-cash return? 12%...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials NYS Dept of State agency that licenses real estate agents/brokers Property law name Article 12A Types of real estate licenses (3) salesperson, associate broker, broker An associate broker... has no broker powers A broker... sponsors salespeople and associate brokers The salesperson's license is kept by... the broker for whom the salesperson is working for, kept in a secure place Pocket ID card Kept with the ag...

NYS Tow Truck Endorsement Practice Test 1-7 Spring 2023 with complete solution NYS Tow Truck Endorsement Practice Test 1 Which of the following if the correct definition of a tow truck? A. A motor vehicle that tows or carries a disabled illegally parked motor vehicle B. A motor vehicle that tows or carries a disabled illegally parked or abandoned motor vehicle or a motor vehicle involved in an accident C. A motor vehicle that tows or carries a legally parked or abandoned motor vehicle...

NYS Tow Truck Endorsement Practice Test 1-7 Spring 2023 with complete solution NYS Tow Truck Endorsement Practice Test 1 Which of the following if the correct definition of a tow truck? A. A motor vehicle that tows or carries a disabled illegally parked motor vehicle B. A motor vehicle that tows or carries a disabled illegally parked or abandoned motor vehicle or a motor vehicle involved in an accident C. A motor vehicle that tows or carries a legally parked or abandoned motor vehicle...

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