NYC REAL ESTATE EXAM
2026/2027 WITH 170 QUESTIONS
AND WELL-VERIFIED CORRECT
ANSWERS | ALREADY GRADED
A+ | GUARANTEED PASS | NYC
REAL ESTATE LATEST EXAM
What governmental agency oversees how a community is developed? - ANSWER-
Planning Board
When financing a home, the borrower would be referred to as? - ANSWER-
Mortgagor
You would call the lender financing the home transaction? - ANSWER-Mortgagee
,I am going to rent an apartment for one week, what type of leasehold estate is this?
- ANSWER-Estate for years
What does the Real Estate Settlement Procedures Act (RESPA) require? -
ANSWER-Good faith estimate of the closing costs for federally funded loans
What is a synonym for proration? - ANSWER-Adjustment
If one broker is representing both the purchaser and the seller in the same
transaction you would call this? - ANSWER-Dual Agency
Who determines what the real estate commission will be on a particular deal? -
ANSWER-Broker and Client
The income earned by going to work, for example: salary, bonuses, commission is
called? - ANSWER-Active Income
The income earned from paper assets is called? - ANSWER-Portfolio
In rental properties, the income earned by renting out parking spaces, closets in the
basement, coin-op washer/dryer is referred to as? - ANSWER-Miscellaneous
Income
Which named "peril" is not covered on a HO policy (home owner) or DP (dwelling
policy)? - ANSWER-Flood
From whom do you purchase Flood Insurance? - ANSWER-FEMA
, What's the name of the policy that provides additional liability coverage beyond
the primary policy? - ANSWER-Umbrella Policy
If I were a renter, and wanted to protect my possessions, and also give me liability
insurance, I would buy what type of policy? - ANSWER-HO-4 Policy
A CMA (comparative market analysis) is the same thing as an appraisal. -
ANSWER-False
In a commercial lease, it is understood that if the tenant adds cabinets,
refrigerators, etc., they are taking them when the lease is over. This is called? -
ANSWER-Trade Fixtures
What is the age majority in New York State, i.e., the minimum age to enter into a
contract?
What other capability should they possess? - ANSWER-18
Mental and Emotional Capability
What happens if one of the parties to the contract is a minor? - ANSWER-The
contract is voidable by the minor
It is my intention to protect my client (usually the seller) from the vicarious
liability of another licensee violating the laws of licensure. I should always give
out my listings to other licensees as "broker's agents" or "sub-agents"? -
ANSWER-Broker's Agent
What should I do if the client or customer refuses to sign the agency disclosure
form? - ANSWER-Obtain an Affidavit or Declaration signed with notary
2026/2027 WITH 170 QUESTIONS
AND WELL-VERIFIED CORRECT
ANSWERS | ALREADY GRADED
A+ | GUARANTEED PASS | NYC
REAL ESTATE LATEST EXAM
What governmental agency oversees how a community is developed? - ANSWER-
Planning Board
When financing a home, the borrower would be referred to as? - ANSWER-
Mortgagor
You would call the lender financing the home transaction? - ANSWER-Mortgagee
,I am going to rent an apartment for one week, what type of leasehold estate is this?
- ANSWER-Estate for years
What does the Real Estate Settlement Procedures Act (RESPA) require? -
ANSWER-Good faith estimate of the closing costs for federally funded loans
What is a synonym for proration? - ANSWER-Adjustment
If one broker is representing both the purchaser and the seller in the same
transaction you would call this? - ANSWER-Dual Agency
Who determines what the real estate commission will be on a particular deal? -
ANSWER-Broker and Client
The income earned by going to work, for example: salary, bonuses, commission is
called? - ANSWER-Active Income
The income earned from paper assets is called? - ANSWER-Portfolio
In rental properties, the income earned by renting out parking spaces, closets in the
basement, coin-op washer/dryer is referred to as? - ANSWER-Miscellaneous
Income
Which named "peril" is not covered on a HO policy (home owner) or DP (dwelling
policy)? - ANSWER-Flood
From whom do you purchase Flood Insurance? - ANSWER-FEMA
, What's the name of the policy that provides additional liability coverage beyond
the primary policy? - ANSWER-Umbrella Policy
If I were a renter, and wanted to protect my possessions, and also give me liability
insurance, I would buy what type of policy? - ANSWER-HO-4 Policy
A CMA (comparative market analysis) is the same thing as an appraisal. -
ANSWER-False
In a commercial lease, it is understood that if the tenant adds cabinets,
refrigerators, etc., they are taking them when the lease is over. This is called? -
ANSWER-Trade Fixtures
What is the age majority in New York State, i.e., the minimum age to enter into a
contract?
What other capability should they possess? - ANSWER-18
Mental and Emotional Capability
What happens if one of the parties to the contract is a minor? - ANSWER-The
contract is voidable by the minor
It is my intention to protect my client (usually the seller) from the vicarious
liability of another licensee violating the laws of licensure. I should always give
out my listings to other licensees as "broker's agents" or "sub-agents"? -
ANSWER-Broker's Agent
What should I do if the client or customer refuses to sign the agency disclosure
form? - ANSWER-Obtain an Affidavit or Declaration signed with notary
