NYC REAL ESTATE EXAM 2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED
29 views 0 purchase
Course
NYC REAL ESTATE
Institution
NYC REAL ESTATE
NYC REAL ESTATE EXAM 2024 QUESTIONS WITH
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - CORRECT ANSWER D- grantor
Jim's mechanic's lien will remain against the property for at least:
a)...
NYC REAL ESTATE EXAM 2024 QUESTIONS WITH
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
It is essential that every deed be signed by the:
a) Devisee
b) grantee
c) grantor & grantee
d) Grantor - CORRECT ANSWER D- grantor
Jim's mechanic's lien will remain against the property for at least:
a) 1 year
2) 8 Months
c) 10 years
d) 4 months - CORRECT ANSWER A- 1 year
A specific tract of land is known as a:
a) devise
b) chattel
c) parcel
d) littoral - CORRECT ANSWER C- parcel
If you are a salesperson working with a buyer, then the buyer is your client:
a) if you are servicing the buyer
b) if you have an agency contract with buyer
c) if the buyer has shared financial info with you
d) none of the above - CORRECT ANSWER B- if you have an agency contract with
the buyer
Rosita buys a summer cottage that has a mechanic's lien against it, placed by the
workman who was not paid by the former owner Jim, for constructing a dock. The lien
now:
a) is void
, NYC REAL ESTATE EXAM 2024 QUESTIONS WITH
CORRECT ANSWERS ALREADY PASSED AND
VERIFIED
b) is Jims responsibility only
c) remains as a claim against the property
d) is considered satisfied - CORRECT ANSWER C- remains as a claim against the
property
A home was purchased in 2005, for $425,000. It was sold recently for $478,000. What is
the rate of return on profit on this house? - CORRECT ANSWER 12.47%
478,000-425,000= 53,000
53,000*100=5,300,000
5,300,000/425,000= 12.47
Which of the following contains a list of all real property in the jurisdiction with annual
information including its assessed value?
a) Assessment roll
b) equalization rate list
c) grievance list
d) in rem document - CORRECT ANSWER a- assessment roll
The assignment of costs between the buyer and the seller at the closing is called:
a) Finishing fees
b) proration
c) closing accounting
d) real estate settlement & procedures - CORRECT ANSWER B- proration
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER 18
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Courseinstructor. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.49. You're not tied to anything after your purchase.
