Exam (elaborations)
NYREI State Exam (Created after group tutoring session (6/28/23) Graded A+
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NYREI State Exam (Created after group tutoring session (6/28/23) Graded A+
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Name: Score:220 Multiple choice questions
Term 1 of 220
If you live by a river or a stream, what are those water rights called?
Riparian Rights
Littoral Rights
Water Rights
Trespass , Encroach
Term 2 of 220
What are specifications?
List of tools used in construction
Blueprint of a building's design
Written document that describes the material in a building
Invoice for construction services
Term 3 of 220
What is money?
A trade-off
A donation
A commodity
A barter good
,Term 4 of 220
What is owner occupied property?
a lease for unfinished space
capital gains tax on profit
recent sales
an object crossing my property line
Term 5 of 220
A downpayment is known as ...
Earnest Money
Option Money
Consideration
Down Payment
Definition 6 of 220
The Seller
The grantor is
What is rent?
What is abstract?
What are income tax advantages called ?
,Term 7 of 220
What is The Income Approach?
used for apt building , office buildings
method for calculating personal income
approach to reduce expenses in business
strategy for increasing property taxes
Term 8 of 220
What happens if your NY real estate license is revoked?
You can immediately apply for a license in a different state
You have to wait 1 year until you can reapply
You can reapply after 6 months
You are banned for life from applying for any real estate license
Term 9 of 220
What happens to you if your broker is revoked?
A General Agent
A Warranty
Your Suspended
The Broker
, Term 10 of 220
Whoever has to let them crossover ...
Servient
Dominant
Escheat
The Encroached
Term 11 of 220
What is Red Lining?
lender discrimination (uses race, sex, or ethnicity)
a term for landscaping with red flowers
a method of painting walls with red color
a type of home renovation project
Definition 12 of 220
Meets & Bounds
A shared driveway is what type of easement?
A legal description has a point and place of beginning
What happens to you if your broker is suspended?
What happens when there is plenty of money in the system?
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