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NY Real Estate State Exam (Mult Choice) Practice Questions and Answers 100% Pass $12.49   Add to cart
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NY Real Estate State Exam (Mult Choice) Practice Questions and Answers 100% Pass
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NY Real Estate State Exam (Mult Choice) Practice Questions and Answers 100% Pass 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 - ANSWER-c) agreement ...

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  • November 11, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ny real estate state exam mult choice practice q

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED




NY Real Estate State Exam (Mult Choice) Practice

Questions and Answers 100% Pass


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 - ANSWER✔✔-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 - ANSWER✔✔-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




Copyright ©Stuvia International BV 2010-2024 Page 1/17

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED


d.requires notice from the landlord calling the tenants attention to the clause. - ANSWER✔✔-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


c.exclusive-agency listing


d.open listing - ANSWER✔✔-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 - ANSWER✔✔-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 - ANSWER✔✔-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

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, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED


b.the seller is the client


c.the seller is the customer


d.the buyer is a subagent - ANSWER✔✔-b) the seller is the client


Broker John Brown owes customer Susie Smith


a.loyalty


b.fairness and honesty


c.confidentiality


d.accounting - ANSWER✔✔-b) fairness and honesty


A salesperson need not be


a.licensed by the state


b.at least 18 years old


c.already experienced in real estate


d.supervised by a broker - ANSWER✔✔-c) already experienced in real estate


A nonresident broker seeking a New York license must


a.post a bond of $5000


b.be a citizen of the United States


c.find a New York attorney to act as a sponsor


d.file an affidavit allowing them to be sued in NY - ANSWER✔✔-d) file an affidavit allowing them to be

sued in NY

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