Pg. 1
NEW YORK REAL ESTATE LICENSE EXAM 2025-
2026. 70+ QUESTIONS & CORRECT ANSWERS
WITH VERIFIED SOLUTIONS. GRADED A+
Industrial properties usually do not involve:
Select one:
a. Distribution
b. Storage
c. Retail sales
d. Manufacturing - CORRECT ANSWER - Answer: d. Manufacturing
Manufacturing
Another common type of property investor looks for is manufacturing, or industrial
property Manufacturing buildings are large facilities designed to accommodate the
equipment for various manufacturing processes. Light manufacturing buildings can
be up to 300,000 square feet, while heavy manufacturing can utilize up to one
million square feet or more. These buildings usually need large bay doors with at-
grade or dock-high parking for the truck to maneuver. If a manufactured home is
attached to a foundation, it is considered real property. Otherwise, it is personal
property.
The rights and obligation of the resident-shareholders and corporation are included
in:
Select one:
a. Propriety lease.
b. Propriety lease and corporation bylaws.
c. Corporation bylaws.
d. None of these. - CORRECT ANSWER - Answer: b. Propriety lease and
corporation bylaws.
, Pg. 2
Proprietary Lease (What Does it Proscribe for Owners)
The rights and obligation of the resident- shareholders and the cooperative
corporation are included in the propriety lease and corporation bylaws. Tenants
who purchase a cooperative do not receive a deed to their units. Instead, they
receive a proprietary lease. This lease is an occupancy agreement that defines the
condition to occupy a unit.
The proprietary lease is generally a long-term lease or estate for years. The seller at
closing delivers the proprietary lease to the buyer. In some ways, the proprietary
lease is similar to leases for an apartment rental. The proprietary lease addresses
occupancy requirements, including the number of people that can live in the
apartment. It also can state whether relatives or others can live in the apartment
with or without the owner's presence.
Other issues addressed in the proprietary lease include:
Due date of the maintenance payments.
Assignment of the lease.
Use of the common area, such as parking, laundry, and recreation.
Damage to the building.
Death of lease.
Insurance requirements.
Repairs, maintenance, and alteration regulations.
Pets.
Removal of fixtures.
Right to quiet enjoyment.
Subletting.
Surrender of the apartment.
What is the most likely explanation when you see the words "for love and
affection" as the consideration in a deed?
Select one:
, Pg. 3
a. The grantor and grantee want to keep the actual selling price of the property a
secret.
b. The grantor and grantee are related.
c. The grantor and grantee were represented by the same real estate agent.
d. The grantee gave the grantor the property as a gift - CORRECT ANSWER -
Answer: d. The grantee gave the grantor the property as a gift
Consideration
The deed must contain words that indicate that the grantor is receiving something
of value in exchange for the property. Generally, money is being received, and the
consideration clause needs to state the amount. In some places, the phrase "ten
dollars and other valuable consideration" or something similar is used for
consideration. No, the buyer did not get a super bargain as some people might
think. The reference to ten dollars is used to hide the actual amount paid for the
property if someone wants to keep that information confidential. I show you how
you may be able to find out what amount was paid in "Recording the right
documents" later in this chapter. When the property is a gift, the words "for love
and affection," or similar phrasing, are used.
Which purpose in landscaping, including trees or shrubs on the perimeter, that
reduces noise lends privacy to yards and houses?
Select one:
a. Privacy
b. Erosion prevention
c. Shading
d. Beatification - CORRECT ANSWER - Answer: a. Privacy
Site Use- Landscaping
Landscaping is a significant factor in deterring erosion of the soil at a construction
site. Landscaping serves three purposes:
Erosion Prevention
Tree and shrub roots grab the land preventing it from washing away (erosion).
, Pg. 4
Beautification
The selection of trees and shrubs are essential because some trees flower early and
some late, trees drop their leaves and shrubs maintain their green. Most garden
centers have design teams ready to increase the value of your home by
beautification. Privacy: Landscaping with trees or shrubs on the perimeter of the
property can reduce noise lend privacy to yards and houses.
Who is the person in a town who collects the taxes?
Select one:
a. Town officer
b. The receiver of taxes
c. Tax assessor
d. Circuit clerk - CORRECT ANSWER - Answer: b. The receiver of taxes
Receiver of Taxes/ Treasurer, Page
The Receiver of Taxes is the collecting officer for real property taxes and
assessments in each city and town. Except in NYC, they do not set tax rates or
estimate assessed values. Tax rates are set by school boards, village boards, town
boards, and county legislatures. The Receiver of Taxes or Treasurer bills and
collects real property and school taxes during a specified period.
which of the following is not correct?
Select one:
a. Changes pay for upkeep and insurance.
b. The purchaser pays the charges once in three months.
c. Common charges increase because of the owner's requirements for more
services.
d. Both a and c. - CORRECT ANSWER - Answer: d. Both a and c.
Common Changes
NEW YORK REAL ESTATE LICENSE EXAM 2025-
2026. 70+ QUESTIONS & CORRECT ANSWERS
WITH VERIFIED SOLUTIONS. GRADED A+
Industrial properties usually do not involve:
Select one:
a. Distribution
b. Storage
c. Retail sales
d. Manufacturing - CORRECT ANSWER - Answer: d. Manufacturing
Manufacturing
Another common type of property investor looks for is manufacturing, or industrial
property Manufacturing buildings are large facilities designed to accommodate the
equipment for various manufacturing processes. Light manufacturing buildings can
be up to 300,000 square feet, while heavy manufacturing can utilize up to one
million square feet or more. These buildings usually need large bay doors with at-
grade or dock-high parking for the truck to maneuver. If a manufactured home is
attached to a foundation, it is considered real property. Otherwise, it is personal
property.
The rights and obligation of the resident-shareholders and corporation are included
in:
Select one:
a. Propriety lease.
b. Propriety lease and corporation bylaws.
c. Corporation bylaws.
d. None of these. - CORRECT ANSWER - Answer: b. Propriety lease and
corporation bylaws.
, Pg. 2
Proprietary Lease (What Does it Proscribe for Owners)
The rights and obligation of the resident- shareholders and the cooperative
corporation are included in the propriety lease and corporation bylaws. Tenants
who purchase a cooperative do not receive a deed to their units. Instead, they
receive a proprietary lease. This lease is an occupancy agreement that defines the
condition to occupy a unit.
The proprietary lease is generally a long-term lease or estate for years. The seller at
closing delivers the proprietary lease to the buyer. In some ways, the proprietary
lease is similar to leases for an apartment rental. The proprietary lease addresses
occupancy requirements, including the number of people that can live in the
apartment. It also can state whether relatives or others can live in the apartment
with or without the owner's presence.
Other issues addressed in the proprietary lease include:
Due date of the maintenance payments.
Assignment of the lease.
Use of the common area, such as parking, laundry, and recreation.
Damage to the building.
Death of lease.
Insurance requirements.
Repairs, maintenance, and alteration regulations.
Pets.
Removal of fixtures.
Right to quiet enjoyment.
Subletting.
Surrender of the apartment.
What is the most likely explanation when you see the words "for love and
affection" as the consideration in a deed?
Select one:
, Pg. 3
a. The grantor and grantee want to keep the actual selling price of the property a
secret.
b. The grantor and grantee are related.
c. The grantor and grantee were represented by the same real estate agent.
d. The grantee gave the grantor the property as a gift - CORRECT ANSWER -
Answer: d. The grantee gave the grantor the property as a gift
Consideration
The deed must contain words that indicate that the grantor is receiving something
of value in exchange for the property. Generally, money is being received, and the
consideration clause needs to state the amount. In some places, the phrase "ten
dollars and other valuable consideration" or something similar is used for
consideration. No, the buyer did not get a super bargain as some people might
think. The reference to ten dollars is used to hide the actual amount paid for the
property if someone wants to keep that information confidential. I show you how
you may be able to find out what amount was paid in "Recording the right
documents" later in this chapter. When the property is a gift, the words "for love
and affection," or similar phrasing, are used.
Which purpose in landscaping, including trees or shrubs on the perimeter, that
reduces noise lends privacy to yards and houses?
Select one:
a. Privacy
b. Erosion prevention
c. Shading
d. Beatification - CORRECT ANSWER - Answer: a. Privacy
Site Use- Landscaping
Landscaping is a significant factor in deterring erosion of the soil at a construction
site. Landscaping serves three purposes:
Erosion Prevention
Tree and shrub roots grab the land preventing it from washing away (erosion).
, Pg. 4
Beautification
The selection of trees and shrubs are essential because some trees flower early and
some late, trees drop their leaves and shrubs maintain their green. Most garden
centers have design teams ready to increase the value of your home by
beautification. Privacy: Landscaping with trees or shrubs on the perimeter of the
property can reduce noise lend privacy to yards and houses.
Who is the person in a town who collects the taxes?
Select one:
a. Town officer
b. The receiver of taxes
c. Tax assessor
d. Circuit clerk - CORRECT ANSWER - Answer: b. The receiver of taxes
Receiver of Taxes/ Treasurer, Page
The Receiver of Taxes is the collecting officer for real property taxes and
assessments in each city and town. Except in NYC, they do not set tax rates or
estimate assessed values. Tax rates are set by school boards, village boards, town
boards, and county legislatures. The Receiver of Taxes or Treasurer bills and
collects real property and school taxes during a specified period.
which of the following is not correct?
Select one:
a. Changes pay for upkeep and insurance.
b. The purchaser pays the charges once in three months.
c. Common charges increase because of the owner's requirements for more
services.
d. Both a and c. - CORRECT ANSWER - Answer: d. Both a and c.
Common Changes
