NYS Real Estate U Final Exam 2025: Complete Study Guide, Practice Questions & Proven
Strategies to Pass the New York State Real Estate Final Exam
Prepare for the NYS Real Estate U Final Exam 2025 with this comprehensive study guide.
Includes practice questions, exam-focused reviews, and proven strategies to help candidates
pass the New York State real estate final exam and move closer to licensure
• NYS Real Estate U final exam
• New York State real estate final exam
• Real Estate U NY exam
• NYS real estate exam prep
A business agreement in which the parties agree to develop, for a finite time, a new entity and
new assets by contributing equity. - ANSWER-Joint Venture
Horizontal timbers, beams or bars supporting a floor. - ANSWER-Joists
Held that Congress could regulate the sale of private property in order to prevent racial
discrimination. Bars all racial discrimination, private as well as public, in the sale or rental of
property, and that the statute, thus construed, is a valid exercise of the power of Congress to
enforce the 13th Amendment. - ANSWER-Jones vs. Mayer Supreme Court Decision (1968)
Payment by a broker of any part of compensation to a real estate transaction to anyone who is
not licensed or who is not exempt from the license law. - ANSWER-Kickback
Rounded columns that serve as a structural post. Typically found in basements and are made of
steel or iron. - ANSWER-Lally Columns
,A land lease-also called a ground lease-is a lease agreement that permits the tenant to use a
piece of land owned by the landlord in exchange for rent. - ANSWER-Land Lease
A supreme title to land which was originally acquired within the United States of America by a
treaty. It grants the rights to the described land under the treaty to the individual person named
on the patent and to their heirs and their assigns forever. - ANSWER-Land Patent
A person who has oral or written authority, either express or implied, to act for or on behalf of a
landlord. - ANSWER-Landlord's Agent
An agreement to do something or to allow something to happen only after all the relevant facts
are disclosed. - ANSWER-Informed Consent
Basic physical and organizational structures needed for the operation of a society or city. -
ANSWER-Infrastructure
The value of an asset or asset group that is covered by an insurance policy; can be estimated by
deducting cost of noninsurable items (e.g. land value) from market value. - ANSWER-Insured
Value
A fee paid by the borrower of a loan as a form of compensation for the use of money. -
ANSWER-Interest
Reductions of the income subject to tax, for various items, especially expenses incurred to
produce income. - ANSWER-Interest and Tax Deductibility
The specific value of an investment to a particular investor or class of investors based on
individual investment requirements; distinguished from market value, which is impersonal and
detached. - ANSWER-Investment Value
,Loss of property through attachment, condemnation, foreclosure, sale of taxes or other
involuntary transfer of title. - ANSWER-Involuntary Alienation
A lien imposed against property without consent of the owner, e.g., taxes, special assessments. -
ANSWER-Involuntary Lien
Incapable of being recalled or revoked; unchangeable; unalterable. - ANSWER-Irrevocable
Consent
Ownership of realty by two or more persons, each of whom has an undivided interest with the
'right of survivorship'. - ANSWER-Joint Tenancy
Setup to protect consumers from dishonest attorneys. - ANSWER-Lawyer's Fund for Client
Protection
A material used in pipes and paint of many older homes. We now know that lead is hazardous
to health. The local environmental protection agency should be consulted for guidelines on
handling, removal and applicable laws. - ANSWER-Lead
The governmental agency that oversees the environmental impact process and makes final
decisions. - ANSWER-Lead Agency
A contract whereby, for a consideration, usually termed rent, one who is entitled to the
possession of real property transfers such rights to another for life, for a term of years, or at will.
- ANSWER-Lease
, A contract provision allowing for one to pass an increase in costs to another party. Escalation
clauses are usually related to influences beyond both parties control, such as inflation. -
ANSWER-Lease Escalation Clause
The interest or estate which a lessee of real estate has therein by virtue of the lessee's lease. -
ANSWER-Leasehold Estate
A payment to a mortgage broker by a lender. - ANSWER-Lender Rebate
A person to whom property is rented under a lease. - ANSWER-Lessee
One who rents property to another under a lease. - ANSWER-Lessor
Generally an agreement to agree. It outlines the terms between parties who have not
formalized an agreement into a contract. LOIs are generally not binding and unenforceable. -
ANSWER-Letter of Intent (LOI)
The use or borrowed capital (mortgage) to increase the potential return of an investment. -
ANSWER-Leverage
An assessment of tax. - ANSWER-Levy
Policy that covers civil liabilities to third parties, arising from bodily injury, property damage, or
other wrongs due to the action or inaction of the insured. - ANSWER-Liability Insurance
Permission granted by a party to another party as an element of an agreement between both
parties. - ANSWER-License
Strategies to Pass the New York State Real Estate Final Exam
Prepare for the NYS Real Estate U Final Exam 2025 with this comprehensive study guide.
Includes practice questions, exam-focused reviews, and proven strategies to help candidates
pass the New York State real estate final exam and move closer to licensure
• NYS Real Estate U final exam
• New York State real estate final exam
• Real Estate U NY exam
• NYS real estate exam prep
A business agreement in which the parties agree to develop, for a finite time, a new entity and
new assets by contributing equity. - ANSWER-Joint Venture
Horizontal timbers, beams or bars supporting a floor. - ANSWER-Joists
Held that Congress could regulate the sale of private property in order to prevent racial
discrimination. Bars all racial discrimination, private as well as public, in the sale or rental of
property, and that the statute, thus construed, is a valid exercise of the power of Congress to
enforce the 13th Amendment. - ANSWER-Jones vs. Mayer Supreme Court Decision (1968)
Payment by a broker of any part of compensation to a real estate transaction to anyone who is
not licensed or who is not exempt from the license law. - ANSWER-Kickback
Rounded columns that serve as a structural post. Typically found in basements and are made of
steel or iron. - ANSWER-Lally Columns
,A land lease-also called a ground lease-is a lease agreement that permits the tenant to use a
piece of land owned by the landlord in exchange for rent. - ANSWER-Land Lease
A supreme title to land which was originally acquired within the United States of America by a
treaty. It grants the rights to the described land under the treaty to the individual person named
on the patent and to their heirs and their assigns forever. - ANSWER-Land Patent
A person who has oral or written authority, either express or implied, to act for or on behalf of a
landlord. - ANSWER-Landlord's Agent
An agreement to do something or to allow something to happen only after all the relevant facts
are disclosed. - ANSWER-Informed Consent
Basic physical and organizational structures needed for the operation of a society or city. -
ANSWER-Infrastructure
The value of an asset or asset group that is covered by an insurance policy; can be estimated by
deducting cost of noninsurable items (e.g. land value) from market value. - ANSWER-Insured
Value
A fee paid by the borrower of a loan as a form of compensation for the use of money. -
ANSWER-Interest
Reductions of the income subject to tax, for various items, especially expenses incurred to
produce income. - ANSWER-Interest and Tax Deductibility
The specific value of an investment to a particular investor or class of investors based on
individual investment requirements; distinguished from market value, which is impersonal and
detached. - ANSWER-Investment Value
,Loss of property through attachment, condemnation, foreclosure, sale of taxes or other
involuntary transfer of title. - ANSWER-Involuntary Alienation
A lien imposed against property without consent of the owner, e.g., taxes, special assessments. -
ANSWER-Involuntary Lien
Incapable of being recalled or revoked; unchangeable; unalterable. - ANSWER-Irrevocable
Consent
Ownership of realty by two or more persons, each of whom has an undivided interest with the
'right of survivorship'. - ANSWER-Joint Tenancy
Setup to protect consumers from dishonest attorneys. - ANSWER-Lawyer's Fund for Client
Protection
A material used in pipes and paint of many older homes. We now know that lead is hazardous
to health. The local environmental protection agency should be consulted for guidelines on
handling, removal and applicable laws. - ANSWER-Lead
The governmental agency that oversees the environmental impact process and makes final
decisions. - ANSWER-Lead Agency
A contract whereby, for a consideration, usually termed rent, one who is entitled to the
possession of real property transfers such rights to another for life, for a term of years, or at will.
- ANSWER-Lease
, A contract provision allowing for one to pass an increase in costs to another party. Escalation
clauses are usually related to influences beyond both parties control, such as inflation. -
ANSWER-Lease Escalation Clause
The interest or estate which a lessee of real estate has therein by virtue of the lessee's lease. -
ANSWER-Leasehold Estate
A payment to a mortgage broker by a lender. - ANSWER-Lender Rebate
A person to whom property is rented under a lease. - ANSWER-Lessee
One who rents property to another under a lease. - ANSWER-Lessor
Generally an agreement to agree. It outlines the terms between parties who have not
formalized an agreement into a contract. LOIs are generally not binding and unenforceable. -
ANSWER-Letter of Intent (LOI)
The use or borrowed capital (mortgage) to increase the potential return of an investment. -
ANSWER-Leverage
An assessment of tax. - ANSWER-Levy
Policy that covers civil liabilities to third parties, arising from bodily injury, property damage, or
other wrongs due to the action or inaction of the insured. - ANSWER-Liability Insurance
Permission granted by a party to another party as an element of an agreement between both
parties. - ANSWER-License
