New York Real Estate Salesperson
Quiz_________________?
*For Tax Math Questions -
Answer✅
$ value x % assessment x % tax= $ annual tax
or
$ value x % assessment = $ assessed value
$ assessed value x % tax= $ annual tax
Quiz_________________?
1 Acre -
Answer✅
43560 square feet
- "4 old people driving 35 in a 60"
Quiz_________________?
1031 Exchange -
Answer✅
- lets building owners delay capital gains and transfer tax by trading property instead of
selling it
1
, - after you sell first building- 45 days to find other buildings you might buy for exchange and
180 days to close
- must be a like-kind property
- must be in america
Quiz_________________?
1866 Civil Rights act -
Answer✅
- first fair housing law
- gives people full real estate rights regardless of race
Quiz_________________?
1890 Sherman Anti trust act -
Answer✅
- stops the restraint of trade
- illegal to
- price fix, group boycott, market allocation, tie in
Quiz_________________?
1968 Supreme court case Jones V Mayer -
Answer✅
- established there are no exceptions to civil rights act
Quiz_________________?
1988 Amendment Fair Housing -
2
, Answer✅
protects status of kids and disabled
- disabled can make reasonable modification to apartment at their own expense- must
change it back when moving out
Quiz_________________?
A,ops and volts -
Answer✅
- most common electrical service is 200 amps
- minimum for a home is 100 amps
- volts are the force that pushes electricity- most homes built with 110 volt service
Quiz_________________?
Acceleration clause -
Answer✅
- allows the bank to "speed up" the mortgage- making the entire payment due now if
borrower doesn't pay (defaults)
-
Quiz_________________?
Accession Rights -
Answer✅
- right to all that ones property produces
Quiz_________________?
3
, Acknowledgement -
Answer✅
- notary public certifies the signature and date of a document
Quiz_________________?
Active Income -
Answer✅
Salary
Quiz_________________?
Actual Cash Value -
Answer✅
Replacement cost- Depreciation= Actual Cash Value
- replacement cost is how much it would cost to buy a new house or personal property at
todays prices
- actual cash value is what it would cost to buy new minus depreciation
Quiz_________________?
Ad valorem -
Answer✅
by value, as per value
Quiz_________________?
Adjustable Mortgage Rate (ARIM) -
Answer✅
4
Quiz_________________?
*For Tax Math Questions -
Answer✅
$ value x % assessment x % tax= $ annual tax
or
$ value x % assessment = $ assessed value
$ assessed value x % tax= $ annual tax
Quiz_________________?
1 Acre -
Answer✅
43560 square feet
- "4 old people driving 35 in a 60"
Quiz_________________?
1031 Exchange -
Answer✅
- lets building owners delay capital gains and transfer tax by trading property instead of
selling it
1
, - after you sell first building- 45 days to find other buildings you might buy for exchange and
180 days to close
- must be a like-kind property
- must be in america
Quiz_________________?
1866 Civil Rights act -
Answer✅
- first fair housing law
- gives people full real estate rights regardless of race
Quiz_________________?
1890 Sherman Anti trust act -
Answer✅
- stops the restraint of trade
- illegal to
- price fix, group boycott, market allocation, tie in
Quiz_________________?
1968 Supreme court case Jones V Mayer -
Answer✅
- established there are no exceptions to civil rights act
Quiz_________________?
1988 Amendment Fair Housing -
2
, Answer✅
protects status of kids and disabled
- disabled can make reasonable modification to apartment at their own expense- must
change it back when moving out
Quiz_________________?
A,ops and volts -
Answer✅
- most common electrical service is 200 amps
- minimum for a home is 100 amps
- volts are the force that pushes electricity- most homes built with 110 volt service
Quiz_________________?
Acceleration clause -
Answer✅
- allows the bank to "speed up" the mortgage- making the entire payment due now if
borrower doesn't pay (defaults)
-
Quiz_________________?
Accession Rights -
Answer✅
- right to all that ones property produces
Quiz_________________?
3
, Acknowledgement -
Answer✅
- notary public certifies the signature and date of a document
Quiz_________________?
Active Income -
Answer✅
Salary
Quiz_________________?
Actual Cash Value -
Answer✅
Replacement cost- Depreciation= Actual Cash Value
- replacement cost is how much it would cost to buy a new house or personal property at
todays prices
- actual cash value is what it would cost to buy new minus depreciation
Quiz_________________?
Ad valorem -
Answer✅
by value, as per value
Quiz_________________?
Adjustable Mortgage Rate (ARIM) -
Answer✅
4
