NY Real Estate Exam Cheat Sheet 150 Questions 2024-
2025 GRADE A 100% VERIFIED
How many square feet in one acre?
A. 55,430
B. 24,650
C. 43,560
D. 46,530 - ANS>>> C. 43,650
Mr. and Mrs. Conners sold their home and paid an 8% commission to their realtor. Assuming no other
fees, if they walked away from the sale with $306,000, about how much did their house sell for?
A. $330,400
B. $332,600
C. $328,400
D. $327,900 - ANS>>> B $332,600
Which of the following is a violation of the Fair Housing act?
A. not renovating second-story apartments to accommodate handicapped residents
B. not allowing a service dog in an apartment complex that doesn't allow pets
C. a private club that provides lodging and gives preferential treatment to club members
,D. refusing to rent to someone who does not meet economic qualifications - ANS>>> B not allowing a
service dog in an apartment complex that doesn't allow pets
According to Fair Housing laws, which of these people is not considered disabled?
A. a former convict
B. a person with HIV infection
C. a drug addict
D. a person with alcoholism - ANS>>> A a former convict
Sarah owns a warehouse and has decided to sell it as an open listing. She has contacted three brokers to
sell it for her, Brokers A, B, and C. If Broker B makes the sale, who gets the commission?
A. Brokers A, B, and C
B. It is up to the brokers to decide how to split the commission.
C. Broker B
D. It is up to Sarah to decide how to split the commission. - ANS>>> C Broker B
What information would be unethical for a listing agent to share with a potential buyer?
A. "The seller is very eager for an offer because he lost his job and found a new one in a different state."
B. "The neighbors next door are really great and have two young children about the age of your kids."
,C. "The roof might need to be replaced in the next year or two."
D. "The community association fees are $800 this year, but they will be going up to $1200 next year." -
ANS>>> A "The seller is very eager for an offer because he lost his job and found a new one in a different
state."
A subdivision has a rule that each home in the neighborhood be at least 2,500 square feet. This is an
example of which concept?
A. homestead laws
B. cooperative ownership
C. restrictive covenant
D. Fair Housing Laws violation - ANS>>> C. restrictive covenant
Which of the following describes a transaction brokerage?
A. The broker represents both the buying and selling parties.
B. The broker represents the buyer in the transaction.
C. The broker represents the seller in the transaction.
D. The broker does not represent either party, but provides general information and services to each. -
ANS>>> D. The broker does not represent either party, but provides general information and services to
each.
Who takes the biggest risk in an open listing?
A. the seller
, B. the lending institution
C. the buyer
D. the agent - ANS>>> D. The Agent
An agency contract is being terminated. In which scenario might there be damages owed to one of the
parties?
A. The property owner discovers another claim on the title of the house.
B. The agent resigns from the contract because he is overloaded with homes to sell.
C. The agency files for bankruptcy.
D. The owners discharge the agent because she was not acting in their best interest. - ANS>>> b. The
agent resigns from contract because he is overloaded
A reconveyance deed ____.
A. is only used for personal property and not real property transfer
B. removes a lien and is evidence a trust deed has been paid in full when it is signed by the trustee
C. can remove a lien without needing the signature of the trustee
D. requires court approval to remove a lien - ANS>>> B. removes a lien and is evidence a trust deed has
been paid in full when it is signed by the trustee
When dividing a single plot of land into two or three units, the process is called ____, and the units are
called ____.
2025 GRADE A 100% VERIFIED
How many square feet in one acre?
A. 55,430
B. 24,650
C. 43,560
D. 46,530 - ANS>>> C. 43,650
Mr. and Mrs. Conners sold their home and paid an 8% commission to their realtor. Assuming no other
fees, if they walked away from the sale with $306,000, about how much did their house sell for?
A. $330,400
B. $332,600
C. $328,400
D. $327,900 - ANS>>> B $332,600
Which of the following is a violation of the Fair Housing act?
A. not renovating second-story apartments to accommodate handicapped residents
B. not allowing a service dog in an apartment complex that doesn't allow pets
C. a private club that provides lodging and gives preferential treatment to club members
,D. refusing to rent to someone who does not meet economic qualifications - ANS>>> B not allowing a
service dog in an apartment complex that doesn't allow pets
According to Fair Housing laws, which of these people is not considered disabled?
A. a former convict
B. a person with HIV infection
C. a drug addict
D. a person with alcoholism - ANS>>> A a former convict
Sarah owns a warehouse and has decided to sell it as an open listing. She has contacted three brokers to
sell it for her, Brokers A, B, and C. If Broker B makes the sale, who gets the commission?
A. Brokers A, B, and C
B. It is up to the brokers to decide how to split the commission.
C. Broker B
D. It is up to Sarah to decide how to split the commission. - ANS>>> C Broker B
What information would be unethical for a listing agent to share with a potential buyer?
A. "The seller is very eager for an offer because he lost his job and found a new one in a different state."
B. "The neighbors next door are really great and have two young children about the age of your kids."
,C. "The roof might need to be replaced in the next year or two."
D. "The community association fees are $800 this year, but they will be going up to $1200 next year." -
ANS>>> A "The seller is very eager for an offer because he lost his job and found a new one in a different
state."
A subdivision has a rule that each home in the neighborhood be at least 2,500 square feet. This is an
example of which concept?
A. homestead laws
B. cooperative ownership
C. restrictive covenant
D. Fair Housing Laws violation - ANS>>> C. restrictive covenant
Which of the following describes a transaction brokerage?
A. The broker represents both the buying and selling parties.
B. The broker represents the buyer in the transaction.
C. The broker represents the seller in the transaction.
D. The broker does not represent either party, but provides general information and services to each. -
ANS>>> D. The broker does not represent either party, but provides general information and services to
each.
Who takes the biggest risk in an open listing?
A. the seller
, B. the lending institution
C. the buyer
D. the agent - ANS>>> D. The Agent
An agency contract is being terminated. In which scenario might there be damages owed to one of the
parties?
A. The property owner discovers another claim on the title of the house.
B. The agent resigns from the contract because he is overloaded with homes to sell.
C. The agency files for bankruptcy.
D. The owners discharge the agent because she was not acting in their best interest. - ANS>>> b. The
agent resigns from contract because he is overloaded
A reconveyance deed ____.
A. is only used for personal property and not real property transfer
B. removes a lien and is evidence a trust deed has been paid in full when it is signed by the trustee
C. can remove a lien without needing the signature of the trustee
D. requires court approval to remove a lien - ANS>>> B. removes a lien and is evidence a trust deed has
been paid in full when it is signed by the trustee
When dividing a single plot of land into two or three units, the process is called ____, and the units are
called ____.
