New York Real Estate Salesperson test with 100% correct
anwers.
as a real estate sales person, i am practicing - ANSWERspecial agency
as a property manager i am practicing - ANSWERgeneral agency
in estate planning i am practicing - ANSWERuniversal agency
if its 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 licenses as
brokers agents, or sub agents ? - ANSWERbrokers agent
if i share the listing on a property, with your, broker, and give you the opportunity, to make the sale,
your broker just became my - ANSWERsub agent
if one broker is representing both the purchaser and the seller in the same transaction, you would
call this? - ANSWERdual agency
what is the department of state concerned, when a real estate licensee, also embarks, upon the
practice, of writing mortgage applications, as a mortgage rent? they are concerned about? -
ANSWERpossibility of dual agency
i hire you to sell my house, you are my broker and i am your? - ANSWERclient or principal
it has been long standing, that my driveway crosses, over my neighbors property, you would call that
- ANSWEReasment appuretant
in the above question, which estate is dominant, mine or my neighbors - ANSWERmine because, i
benefit from easment
so what would you call, my neighbors estate - ANSWERserviant
if a utility company has an easement over many properties? - ANSWEReasment in gross
,utility easment
if someone uses the property of another in a way that is open and notorious, exclusive and adverse
to the best interest of the true owner, you would call this? - ANSWERsquatter rights
what are two other names in the questions above? - ANSWERadverse posession
easement by prescription
for how many years would you have use of that persons property to make claim of ownership? -
ANSWER10 years
if a person has the right to cross over your property its an? - ANSWEReasment
if a thing is crossing over your property line thats an? - ANSWERencroachment
if you buy materials from a supply house, and fail to pay them, they can file a materialmens line,
unfortunately this student told materialmens lien isn't one of the choices - ANSWERmechanics lien
we talked about, a formal legal description, of an vld, what is one example, of a formal legal
description? - ANSWERsection block and lot
meet and bounds
which description would not be formal legal description - ANSWERstreet name and street address
who determines, what the real estate commission, will be on a particular deal? - ANSWERsponsoring
broker and client(seller)
if someone dies without having a valid will, he died? - ANSWERintestate
if someone dies w/out having a valid will and the state cannot locate any heirs or creditors, that
persons property reverts to the state through a process called? - ANSWERescheat
, what is the name, of the standardized closing statement, on settlement statement, required by
respa 1974 called? - ANSWERhud1= settlement statement
what is a synonym for proration? - ANSWERadjustment
whats the name of the deed, which gives the most legal promises, covenants, and warranties to the
buyer? - ANSWERfull covenant and warantee
what is it called if i track back the successive owners of a piece of real estate, starting w/the current
deed and working my way backwards in time? - ANSWERchain of title of real property
a deed is a? - ANSWERinstrument that conveys a grantors interest
generally speaking, who creates the real estate contract, of sale - ANSWERsellers attorney
who signs the contract first - ANSWERbuyer
what does the buyer attach to the contract, after signing it - ANSWERearnest deposit
who holds the earnest deposit money from the buyer from the signing of the contract until closing?
- ANSWERsellers attorney in escrow
who signs the contract last - ANSWERthe seller
the fullest interest i can have in my ownership of real estate is called having a ? - ANSWERfee simple
unlike residential leases, where if you add a fixture, such as a celling lamp, it becomes part of the
real property, in a commercial environment, its understood, that if you add cabinets, refrigerator
units, etc that they are leaving, when the lease is over ,you would call this - ANSWERtrade fixtures
tenants in common, is characterized by - ANSWERrights of survivorship
in new york city, husband and wife, takes ownership as, ? - ANSWERtenants in the entirety
anwers.
as a real estate sales person, i am practicing - ANSWERspecial agency
as a property manager i am practicing - ANSWERgeneral agency
in estate planning i am practicing - ANSWERuniversal agency
if its 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 licenses as
brokers agents, or sub agents ? - ANSWERbrokers agent
if i share the listing on a property, with your, broker, and give you the opportunity, to make the sale,
your broker just became my - ANSWERsub agent
if one broker is representing both the purchaser and the seller in the same transaction, you would
call this? - ANSWERdual agency
what is the department of state concerned, when a real estate licensee, also embarks, upon the
practice, of writing mortgage applications, as a mortgage rent? they are concerned about? -
ANSWERpossibility of dual agency
i hire you to sell my house, you are my broker and i am your? - ANSWERclient or principal
it has been long standing, that my driveway crosses, over my neighbors property, you would call that
- ANSWEReasment appuretant
in the above question, which estate is dominant, mine or my neighbors - ANSWERmine because, i
benefit from easment
so what would you call, my neighbors estate - ANSWERserviant
if a utility company has an easement over many properties? - ANSWEReasment in gross
,utility easment
if someone uses the property of another in a way that is open and notorious, exclusive and adverse
to the best interest of the true owner, you would call this? - ANSWERsquatter rights
what are two other names in the questions above? - ANSWERadverse posession
easement by prescription
for how many years would you have use of that persons property to make claim of ownership? -
ANSWER10 years
if a person has the right to cross over your property its an? - ANSWEReasment
if a thing is crossing over your property line thats an? - ANSWERencroachment
if you buy materials from a supply house, and fail to pay them, they can file a materialmens line,
unfortunately this student told materialmens lien isn't one of the choices - ANSWERmechanics lien
we talked about, a formal legal description, of an vld, what is one example, of a formal legal
description? - ANSWERsection block and lot
meet and bounds
which description would not be formal legal description - ANSWERstreet name and street address
who determines, what the real estate commission, will be on a particular deal? - ANSWERsponsoring
broker and client(seller)
if someone dies without having a valid will, he died? - ANSWERintestate
if someone dies w/out having a valid will and the state cannot locate any heirs or creditors, that
persons property reverts to the state through a process called? - ANSWERescheat
, what is the name, of the standardized closing statement, on settlement statement, required by
respa 1974 called? - ANSWERhud1= settlement statement
what is a synonym for proration? - ANSWERadjustment
whats the name of the deed, which gives the most legal promises, covenants, and warranties to the
buyer? - ANSWERfull covenant and warantee
what is it called if i track back the successive owners of a piece of real estate, starting w/the current
deed and working my way backwards in time? - ANSWERchain of title of real property
a deed is a? - ANSWERinstrument that conveys a grantors interest
generally speaking, who creates the real estate contract, of sale - ANSWERsellers attorney
who signs the contract first - ANSWERbuyer
what does the buyer attach to the contract, after signing it - ANSWERearnest deposit
who holds the earnest deposit money from the buyer from the signing of the contract until closing?
- ANSWERsellers attorney in escrow
who signs the contract last - ANSWERthe seller
the fullest interest i can have in my ownership of real estate is called having a ? - ANSWERfee simple
unlike residential leases, where if you add a fixture, such as a celling lamp, it becomes part of the
real property, in a commercial environment, its understood, that if you add cabinets, refrigerator
units, etc that they are leaving, when the lease is over ,you would call this - ANSWERtrade fixtures
tenants in common, is characterized by - ANSWERrights of survivorship
in new york city, husband and wife, takes ownership as, ? - ANSWERtenants in the entirety
