Ny property and - Study guides, Class notes & Summaries

PSI Online Examination NY Insurance Property and Casualty Practice Test/ All Possible Exam Questions and Correct Detailed Answers/ Latest Update 2024/ Rated A+

REVIEW QUESTIONS FOR NY REAL ESTATE EXAM 2023 1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead - Answer -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's license is a. 19. b. 18. c. 20. d. 21. - Answer C. As of July 1,2008 to become a broker you must be 20 years old. 3-Which of the following acts would...

Final NYS Exam Review Questions And Answers NYS Department of State - ANS The Department of State is primarily responsible for issuing real estate licenses, pocket cards, and handing down disciplinary action. Article 12-A of the NYS Real Property Law outlines the roles/duties of the Department of State. Commissions - ANS Commissions are paid by the client (buyer or seller depending on the transaction) to the brokers involved in the transaction. A typical commission in New York is 6%...

A tornado severely damages one of Major Manufacturing's plants. As a result of the damage, Major Manufacturing is forced to curtail its operations during the 6 months needed to complete repairs. The resulting loss of income suffered by Major Manufacturing is referred to as CORRECT ANSWERS: a time element loss. Which of the following describes a feature of standard commercial property policies? CORRECT ANSWERS: Several different forms must be combined to make up a policy. The president o...

NY Real Estate License Exam Questions and Answers Which NY law allows the DOS to revoke, suspend, fine, or reprimand a real estate broker? A) NY Real Property Law, Article 13 B) NY Real Property Law, Section 442-a C) NY Real Property Law, Section 441-c D) NY Real Property Law, Article 15-A - Answer ️️ -C) NY Real Property Law, Section 441-c How many members of the NYS Board of Real Estate must be real estate brokers? A) 5 B) 7 C) All D) None - Answer ️️ -A) 5 What are the expe...

Department of State responsibility? : Responsible for issuing real estate licenses, pock cards, and handing down disciplinary action. Article 12-A NYS real property law outlines : Roles and responsibilities of department of state. Typical commission in NY? : 6% Commissions are ______ and determined by____? : -Negotiable -both client and broker Blind ad 2 | P a g e : An ad that remains anonymous as to who is advertising. Which is illegal What must be included in advertisement? : 1...

NY General Adjuster Test (10-70) (2023/2024) Already Graded A 12/1 - even numbered yrs On what date does an adjuster's license need to be renewed? $1,000 What is the amount of bond that must be posted to obtain and adjuster's license? Not until hearing held When can the Superintendent of Insurance revoke an adjuster's license? a. anytime b. by sending a 30 day notice of the renovation c. not until a hearing is held d. When proof of offense has been received Example of unfair claim settlem...

Mold Assessment (FL) - Answer-A process performed by a mold assessor that includes the physical sampling and detailed evaluation of data obtained from a building history and inspection to formulate an initial hypothesis about the origin, identity, location and extent of amplification of mold growth greater than 10 square feet. Mold Remediation (FL) - Answer-The removal, cleaning, sanitizing, demolition or other treatment, including preventative activities, of mold or mold-contaminated matte...

NY Real Estate License Exam Questions and Answers Which NY law allows the DOS to revoke, suspend, fine, or reprimand a real estate broker? A) NY Real Property Law, Article 13 B) NY Real Property Law, Section 442-a C) NY Real Property Law, Section 441-c D) NY Real Property Law, Article 15-A - Answer ️️ -C) NY Real Property Law, Section 441-c How many members of the NYS Board of Real Estate must be real estate brokers? A) 5 B) 7 C) All D) None - Answer ️️ -A) 5 What are the expe...

NY Real Estate License Exam Questions and Answers Which NY law allows the DOS to revoke, suspend, fine, or reprimand a real estate broker? A) NY Real Property Law, Article 13 B) NY Real Property Law, Section 442-a C) NY Real Property Law, Section 441-c D) NY Real Property Law, Article 15-A - Answer ️️ -C) NY Real Property Law, Section 441-c How many members of the NYS Board of Real Estate must be real estate brokers? A) 5 B) 7 C) All D) None - Answer ️️ -A) 5 What are the expe...