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New York State Exam (v.2) 2.3 Practice Exam # 3 (75 questions) Answered Questions
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New York State Exam (v.2) 2.3 Practice Exam # 3 (75 questions) Answered Questions
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New York State Exam (v.2) 2.3 PracticeExam # 3 (75 questions) Answered
Questions
Which of the following is NOT exempt from obtaining a
license? - Correct Answer ✅A licensed attorney acting as a
sponsor to a real estate salesperson
A real estate salespersons license must be renewed
every .........years. - Correct Answer ✅2
A real estate salesperson operates as what type of agent to
their client? - Correct Answer ✅Special Agent
According to this, a broker may be held responsible for the
unlawful actions of his/her salespersons? - Correct Answer
✅Vicarious Liability
This Act made price fixing, group boycotts, market allocation,
and tie-in arrangements illegal? - Correct Answer
✅Sherman Anti-Trust Act
, New York State Exam (v.2) 2.3 Practice
Exam # 3 (75 questions) Answered
Questions
Which of the following is required in order for a broker to act
as a dual agent? - Correct Answer ✅Advanced informed
consent from both the buyer and seller
Personal property is also known as...? - Correct Answer
✅Chattel
Mark owns a single family home. He decides to transfer
ownership of the property to his daughter, Nancy; however,
the ownership of the property will revert back to Mark upon
the death of Nancy's aunt, Martha. Which of the following was
created? - Correct Answer ✅Life Estate
Which of the following leasehold estates is open-ended, as it
does not have a termination date? - Correct Answer
✅Estate at Will
Which of the following is an example of a fixture...? - Correct
Answer ✅Custom book shelves
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