Exam (elaborations)
NYS Real Estate Exam Questions and Answers Latest Updated 2024
- Course
- Institution
NYS Real Estate Exam Questions and Answers
[Show more]
Content preview
NYS Real Estate Exam Questions andAnswers
Tenants enter into what type of arrangement when they lease all or part of their
leasehold interest?
Sublease
Exchange
Estoppel
Attornment - answer Sublease
What is the term used for the difference between rentable and usable area? -
answerLoss Factor
Who pays the tax in triple net lease? - answer Tenant
What kind of SF is commercial rent based on?
Rentable
Usable
Common
Taxable - answerRentable
Pam finds out her lease forbids evening cocktail parties in her store. The prohibition is
probably in which lease clause? - answerUse clause
An office is 10,000 SF rentable and 8,000 SF usable, what is loss factor %? -
answer[8,000 (usable)]/[10,000 rentable (gross)] = 100% rentable & 80% efficiency =
20% loss factor
What lease is used for unfinished space not divided into rooms, used for storage or
warehousing?
Loft Lease
Net Lease
Gross Lease
Percentage Lease - answerLoft Lease
Which lease clause calls for increased costs to tenant at specific times during lease
term?
, Alteration
Escalation
Percentage
Attornment - answerEscalation
What is a longterm lease on commercial property? - answerGround lease
Real property tax is what kind of encumbrance?
Lien
Easement
Encroachment
Escheat - answerLien
Encumbrance Definitoin - answerLegal or financial problem attached to the real estate
What is true of liens?
Related to debt
Involuntary
Encroachments
All encumbrances are liens - answerRelated to debt
Who is least likely to get real estate tax exemption?
Farmers
Veterans
Second Homeowners
Gold Star families - answerSecond Homeowners
Pam's house has $180,000 market value. Uniform tax assessment is 60%. What is
assessed value? - answer180,000 * .06 = $108,000
Residential condos are considered what type of property for tax evaluation?
Homestead
Non-Homestead
Special Taxing District
Non-conforming - answerHomestead
How much capital gains tax would a married couple be responsible for if they sell their
primary home for $350,000? - answerZero
What kind of income do you get from daily operation of a business? - answerActive
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 julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77988 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now