NYREI 2026 QUESTIONS AND ANSWERS
SURE A+
✔✔A listing broker must maintain a signed agency disclosure form - ✔✔for at least
three years after the transaction closes.
✔✔Someone walks into an open house. The listing agent must present an agency
disclosure before - ✔✔
✔✔A valid deed must contain whose signatures? - ✔✔all granters
✔✔The owner of Oliver's Bakery leases space in a recently renovated building in an up-
and-coming neighborhood. His lease calls for a base rent of $3,500 per month plus a
6% overage percentage. What is Oliver's base rent for the year? - ✔✔$42,000
✔✔Title to a specific cooperative apartment is held by - ✔✔the corporation.
✔✔A husband and wife purchase a home. Unless specified otherwise, it is assumed
that they will take ownership as - ✔✔tenants by the entirety.
✔✔A seller client has vicarious liability for each of these EXCEPT a - ✔✔broker's agent.
✔✔Which is an example of a limited common area at a condominium with garden
apartments? - ✔✔driveway for a particular unit
✔✔In an advertisement for a four-bedroom home, which statement might be considered
discriminatory? - ✔✔beautiful home in an exclusive neighborhood
✔✔Which protected class is NOT covered by New York State law but may be covered
by a specific municipality? - ✔✔lawful source of income
, ✔✔A licensed salesperson acting as a subagent can receive commission payments -
✔✔only from his or her employing broker.
✔✔The lender's interest in property insurance relates to making sure - ✔✔there is
enough coverage to cover the value of the loan.
✔✔Taylor has $80,000 to invest and considers buying a strip mall with an asking price
of $480,000. The estimated NOI, based on the current owner's operating statement, is
$36,000. What would be his expected capitalization rate? - ✔✔7.5%
✔✔Which type of deed would most likely be used to remove a cloud on a title? -
✔✔quitclaim deed
✔✔A homeowner wants to net $140,000 on the sale of his house. If his closing costs
will be $12,600, he owes $44,500 on his current mortgage, and he is paying a 6%
commission, what is the minimum offer he will accept (rounded up to the nearest
dollar)? - ✔✔$209,681
✔✔A buyer is considering a house with asbestos insulation coating the water pipes.
What should the buyer be most concerned about? - ✔✔Asbestos can contaminate the
house if removed improperly since airborne particles are dangerous.
✔✔Net square footage refers to - ✔✔usable space.
✔✔As a measure of the force that pushes electricity through a wire, residential circuits
operate at a minimum of: - ✔✔110 volts.
✔✔The STAR program provides a partial exemption to New York State homeowners for
- ✔✔school district taxes.
✔✔Which pair could be used in a tax-deferred like-kind exchange? - ✔✔shares of stock
for a cooperative apartment
✔✔A zoning board of appeals - ✔✔rules on requests for variances.
✔✔Which type of legal description uses a survey map of a subdivision? -
✔✔rectangular survey system
✔✔Which is a characteristic of a pro forma statement that is NOT a characteristic of an
operating statement? - ✔✔provides hypothetical data to assist in making decisions
✔✔An advantage for businesses to do a sale-and-leaseback is to - ✔✔free up liquid
assets to invest in other product or resources.
SURE A+
✔✔A listing broker must maintain a signed agency disclosure form - ✔✔for at least
three years after the transaction closes.
✔✔Someone walks into an open house. The listing agent must present an agency
disclosure before - ✔✔
✔✔A valid deed must contain whose signatures? - ✔✔all granters
✔✔The owner of Oliver's Bakery leases space in a recently renovated building in an up-
and-coming neighborhood. His lease calls for a base rent of $3,500 per month plus a
6% overage percentage. What is Oliver's base rent for the year? - ✔✔$42,000
✔✔Title to a specific cooperative apartment is held by - ✔✔the corporation.
✔✔A husband and wife purchase a home. Unless specified otherwise, it is assumed
that they will take ownership as - ✔✔tenants by the entirety.
✔✔A seller client has vicarious liability for each of these EXCEPT a - ✔✔broker's agent.
✔✔Which is an example of a limited common area at a condominium with garden
apartments? - ✔✔driveway for a particular unit
✔✔In an advertisement for a four-bedroom home, which statement might be considered
discriminatory? - ✔✔beautiful home in an exclusive neighborhood
✔✔Which protected class is NOT covered by New York State law but may be covered
by a specific municipality? - ✔✔lawful source of income
, ✔✔A licensed salesperson acting as a subagent can receive commission payments -
✔✔only from his or her employing broker.
✔✔The lender's interest in property insurance relates to making sure - ✔✔there is
enough coverage to cover the value of the loan.
✔✔Taylor has $80,000 to invest and considers buying a strip mall with an asking price
of $480,000. The estimated NOI, based on the current owner's operating statement, is
$36,000. What would be his expected capitalization rate? - ✔✔7.5%
✔✔Which type of deed would most likely be used to remove a cloud on a title? -
✔✔quitclaim deed
✔✔A homeowner wants to net $140,000 on the sale of his house. If his closing costs
will be $12,600, he owes $44,500 on his current mortgage, and he is paying a 6%
commission, what is the minimum offer he will accept (rounded up to the nearest
dollar)? - ✔✔$209,681
✔✔A buyer is considering a house with asbestos insulation coating the water pipes.
What should the buyer be most concerned about? - ✔✔Asbestos can contaminate the
house if removed improperly since airborne particles are dangerous.
✔✔Net square footage refers to - ✔✔usable space.
✔✔As a measure of the force that pushes electricity through a wire, residential circuits
operate at a minimum of: - ✔✔110 volts.
✔✔The STAR program provides a partial exemption to New York State homeowners for
- ✔✔school district taxes.
✔✔Which pair could be used in a tax-deferred like-kind exchange? - ✔✔shares of stock
for a cooperative apartment
✔✔A zoning board of appeals - ✔✔rules on requests for variances.
✔✔Which type of legal description uses a survey map of a subdivision? -
✔✔rectangular survey system
✔✔Which is a characteristic of a pro forma statement that is NOT a characteristic of an
operating statement? - ✔✔provides hypothetical data to assist in making decisions
✔✔An advantage for businesses to do a sale-and-leaseback is to - ✔✔free up liquid
assets to invest in other product or resources.
