NEW YORK STATE REAL ESTATE SALESPERSON
LICENSING EXAM UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
In NYS, how old must one be to enter into contracts?
Answer:
18
Question:
What other capability should they possess?
Answer:
Mental and emotional capability
Question:
What happens if one of the parties to the contract is a minor?
Answer:
The contract is voidable by the minor
Question:
What does the zoning board of appeals do?
Answer:
Grants variances
Question:
What regulates construction standards in NYS?
Answer:
Building codes
Question:
What does municipal engineer's office do?
Answer:
Oversees planning and construction of major highways, sweet systems and water
connections
Question:
If a property ad states that the property is near the vicinity of a geographical area, what
else mud the ad include?
Answer:
It must include the name of the geographical area where the property is actually
located
, Question:
Who is usually exempt from property taxes?
Answer:
Disabled, veterans, farmers, elderly gold star parents *kids die in the war, star program
homeowners
Question:
Who is not usually exempt from property taxes?
Answer:
Second home owners
Question:
What covers fully or personal property lost in a fire?
Answer:
Replacement cost
Question:
Find the square footage of a rectangular shaped floor plan. How do you find the area of
a square/rectangle?
Answer:
Length x Width = Area
Question:
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?
Answer:
36%
Question:
Who hires the agent?
Answer:
Principal or client
Question:
What is not a CMA (Comparative Market Analysis?)
Answer:
An apprasial
Question:
What cannot a salesperson do?
Answer:
Collect money directly from the client or customer
Question:
When should the Agency disclosure form be submitted?
Answer:
At the first substantive contact
LICENSING EXAM UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
In NYS, how old must one be to enter into contracts?
Answer:
18
Question:
What other capability should they possess?
Answer:
Mental and emotional capability
Question:
What happens if one of the parties to the contract is a minor?
Answer:
The contract is voidable by the minor
Question:
What does the zoning board of appeals do?
Answer:
Grants variances
Question:
What regulates construction standards in NYS?
Answer:
Building codes
Question:
What does municipal engineer's office do?
Answer:
Oversees planning and construction of major highways, sweet systems and water
connections
Question:
If a property ad states that the property is near the vicinity of a geographical area, what
else mud the ad include?
Answer:
It must include the name of the geographical area where the property is actually
located
, Question:
Who is usually exempt from property taxes?
Answer:
Disabled, veterans, farmers, elderly gold star parents *kids die in the war, star program
homeowners
Question:
Who is not usually exempt from property taxes?
Answer:
Second home owners
Question:
What covers fully or personal property lost in a fire?
Answer:
Replacement cost
Question:
Find the square footage of a rectangular shaped floor plan. How do you find the area of
a square/rectangle?
Answer:
Length x Width = Area
Question:
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?
Answer:
36%
Question:
Who hires the agent?
Answer:
Principal or client
Question:
What is not a CMA (Comparative Market Analysis?)
Answer:
An apprasial
Question:
What cannot a salesperson do?
Answer:
Collect money directly from the client or customer
Question:
When should the Agency disclosure form be submitted?
Answer:
At the first substantive contact
