NY Real Esate State Exam
NY Real Estate State Exam (Mult
Choice) Solved.
An agency relationship is determined by:
a) the source of compensation
b) how well the parties know each other
c) agreement between the principal and the agent
d) first substantive contract - ✔️✔️✔️c) agreement between the principal and the agent
Heat from outside air is utilized through a:
a.reverse conditioner
b.passive solar system
c.heat pump
d.cold air return - ✔️✔️✔️c) heat pump
An automatic renewal clause in a lease is.
a.is not allowed on rent-stabilized apartments
b.is granted every tenant in a building with four or more units
c.is illegal in New York State
d.requires notice from the landlord calling the tenants attention to the clause. - ✔️✔️✔
️d) requires notice from the landlord calling the tenants attention to the clause.
When listing a property, ABC Realty best protects its chances of earning a commission if the
listing is a:
a.exclusive-right-to-sell listing
b.for sale by owner
NY Real Estate Exam Page 1
, NY Real Esate State Exam
c.exclusive-agency listing
d.open listing - ✔️✔️✔️a) exclusive-right-to-sell listing
Real Property Law section 443 disclosure requirements apply only to:
a.sale or lease of one to four-unit residential properties
b.all types of real estate transactions
c.mortgage financing arrangements
d.commercial properties - ✔️✔️✔️a) sale or lease of one to four-unit residential
properties
An agency relationship is determined by
a.the source of compensation
b.how well the parties know each other
c.agreement between the principal and the agent
d.first substantive contact - ✔️✔️✔️c) agreement between the principal and the agent
In a single agency agreement in which a broker represents a seller
a.the buyer is the client
b.the seller is the client
c.the seller is the customer
d.the buyer is a subagent - ✔️✔️✔️b) the seller is the client
Broker John Brown owes customer Susie Smith
a.loyalty
b.fairness and honesty
c.confidentiality
NY Real Estate Exam Page 2
NY Real Estate State Exam (Mult
Choice) Solved.
An agency relationship is determined by:
a) the source of compensation
b) how well the parties know each other
c) agreement between the principal and the agent
d) first substantive contract - ✔️✔️✔️c) agreement between the principal and the agent
Heat from outside air is utilized through a:
a.reverse conditioner
b.passive solar system
c.heat pump
d.cold air return - ✔️✔️✔️c) heat pump
An automatic renewal clause in a lease is.
a.is not allowed on rent-stabilized apartments
b.is granted every tenant in a building with four or more units
c.is illegal in New York State
d.requires notice from the landlord calling the tenants attention to the clause. - ✔️✔️✔
️d) requires notice from the landlord calling the tenants attention to the clause.
When listing a property, ABC Realty best protects its chances of earning a commission if the
listing is a:
a.exclusive-right-to-sell listing
b.for sale by owner
NY Real Estate Exam Page 1
, NY Real Esate State Exam
c.exclusive-agency listing
d.open listing - ✔️✔️✔️a) exclusive-right-to-sell listing
Real Property Law section 443 disclosure requirements apply only to:
a.sale or lease of one to four-unit residential properties
b.all types of real estate transactions
c.mortgage financing arrangements
d.commercial properties - ✔️✔️✔️a) sale or lease of one to four-unit residential
properties
An agency relationship is determined by
a.the source of compensation
b.how well the parties know each other
c.agreement between the principal and the agent
d.first substantive contact - ✔️✔️✔️c) agreement between the principal and the agent
In a single agency agreement in which a broker represents a seller
a.the buyer is the client
b.the seller is the client
c.the seller is the customer
d.the buyer is a subagent - ✔️✔️✔️b) the seller is the client
Broker John Brown owes customer Susie Smith
a.loyalty
b.fairness and honesty
c.confidentiality
NY Real Estate Exam Page 2
