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RealEstate U Pass the New York State Exam (v.2) 2.3 Practice Exam # 3 (75 questions) with Correct Answers $11.49   Add to cart

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RealEstate U Pass the New York State Exam (v.2) 2.3 Practice Exam # 3 (75 questions) with Correct Answers

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RealEstate U Pass the New York State Exam (v.2) 2.3 Practice Exam # 3 (75 questions) with Correct Answers Which of the following is NOT exempt from obtaining a license? - ANSWER-A licensed attorney acting as a sponsor to a real estate salesperson A real estate salespersons license must be rene...

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  • November 11, 2024
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RealEstate U Pass the New York State

Exam (v.2) 2.3 Practice Exam # 3 (75

questions) with Correct Answers


Which of the following is NOT exempt from obtaining a license? - ANSWER✔✔-A licensed attorney

acting as a sponsor to a real estate salesperson


A real estate salespersons license must be renewed every .........years. - ANSWER✔✔-2


A real estate salesperson operates as what type of agent to their client? - ANSWER✔✔-Special Agent


According to this, a broker may be held responsible for the unlawful actions of his/her salespersons? -

ANSWER✔✔-Vicarious Liability


This Act made price fixing, group boycotts, market allocation, and tie-in arrangements illegal? -

ANSWER✔✔-Sherman Anti-Trust Act


Which of the following is required in order for a broker to act as a dual agent? - ANSWER✔✔-Advanced

informed consent from both the buyer and seller


Personal property is also known as...? - 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? - ANSWER✔✔-Life Estate




Copyright ©Stuvia International BV 2010-2024 Page 1/7

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


Which of the following leasehold estates is open-ended, as it does not have a termination date? -

ANSWER✔✔-Estate at Will


Which of the following is an example of a fixture...? - ANSWER✔✔-Custom book shelves


Which of the following would be considered a trade fixture by a commercial tenant? - ANSWER✔✔-

Display Case


Which of the following types of easements is obtained by a squatter who uses another's property

without the owner's permission? - ANSWER✔✔-Easement by prescription


Which of the following must a real estate salesperson carry on them at all times when doing business

and show it on demand? - ANSWER✔✔-Pocket Card


A claim or charge against the property of another is known as a/an...? - ANSWER✔✔-Lien


In order to obtain an easement by prescription, for how many years must the property by used by the

dominant tenement? - ANSWER✔✔-10 years


Which of the following parties in required to sign a valid deed? - ANSWER✔✔-Grantor Only


If a homeowners association does not allow houses in a sub-divided community to have brick on the

exterior of the house, where will this restriction be documented? - ANSWER✔✔-It will appear as a

restrictive covenant in the deed


Which of the following is used as evidence that an individual owns a particular piece of real property? -

ANSWER✔✔-Title


In a residential transaction, who typically holds on to the buyer's down payment/earnest money? -

ANSWER✔✔-Seller's Attorney


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