NYREI Exam Prep Correct Questions And Answers(SCORED A)

A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - ANSWER Periodic tenancy Physical land and everything attached to it is called - ANSWER Real Estate Equipment a tenant installs for use in his or her business is called - ANSWER Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethinic or racial composition of the neighborhood Is changing, with the implication that property values will decline is called - ANSWER Blockbusting Loans that follow the criteria set by secondary markets are called - ANSWER Conforming loans A "Rule" that says an informed buyer will not pay more for one home than a comparable one is - ANSWER Substitution Funds offered as an indication of good faith regarding a future performance of a purchase agreement is called - ANSWER Earnest money Possession of property by a holdover tenant is - ANSWER Tenancy at sufferance An agent authorized to do everything that can be lawfully delegated to be a representative is a - ANSWER Universal agent The relationship between the cost of borrowing money and the total amount financed is - ANSWER APR A revocable, non assignable permission to enter another persons land for a particular purpose is - ANSWER License Lease for which a landlord pays all property taxed, insurance ect - ANSWER Gross lease Loan where the interest rate remains the same for the duration of the loan - ANSWER Fixed rate loan When something outside the control of a property makes it less desirable - ANSWER