Nyrei Study guides, Class notes & Summaries

NYREI Exam Review (1-10) Questions and Answers (Graded A) According to IRS code, licensed re agents are: - ANSWER ️️ statutory non- employees who are treated as independent contractors for tax purposes Each licensed broker shall keep and maintain records for: - ANSWER ️️ 3 years Brokers can provide ______, but salespersons are responsible for _____ incurred - ANSWER ️️ office and supplies, expenses Who issues real estate licenses - ANSWER ️️ NY State Dept of State's Divisi...

Planning board = CORRECT ANSWER Comprehensive Board What is the right that government can take property for the public good? CORRECT ANSWER Eminent Domain How long is your NY real estate license issued for? CORRECT ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. CORRECT ANSWER Property Condition Disclosure Form What do brand new properties require? CORRECT ANSWER A Warranty What happ...

NYREI Exam Prep Questions with Correct Answers A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - Answer-Periodic tenancy Physical land and everything attached to it is called - Answer-Real Estate Equipment a tenant installs for use in his or her business is called - Answer-Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the eth...

NYREI Exam Prep Questions and Answers

According to IRS code, licensed re agents are: CORRECT ANSWER statutory non-employees who are treated as independent contractors for tax purposes Each licensed broker shall keep and maintain records for: CORRECT ANSWER 3 years Brokers can provide ______, but salespersons are responsible for _____ incurred CORRECT ANSWER office and supplies, expenses Who issues real estate licenses CORRECT ANSWER NY State Dept of State's Division of Licensing Services associate real estate brokers CO...

NYREI Exam Guide Questions and CORRECT Answers easements - Ans -right to use another persons real property for a particular service -ROW -right of way --> an easement that grants access to property easements in gross - Ans -involves a specific parcel of land -benefits a person or company (dominant tenant) -burdened land is called servient

A vertical piece used to frame a structure is called a: - correct answer stud What are horizontal parallel framing boards used to support floor loads? - correct answer joist With regard to residential insulation, what does R- value refer to? - correct answer resistant to heat transfer What is the standard ventilation rate? - correct answer 15 cubic feet per min (CFM) per person What system delivers heat and AC through the same ducts? - correct answer Forced warm air system ...

A vertical piece used to frame a structure is called a: CORRECT ANSWER stud What are horizontal parallel framing boards used to support floor loads? CORRECT ANSWER joist With regard to residential insulation, what does R- value refer to? CORRECT ANSWER resistant to heat transfer What is the standard ventilation rate? CORRECT ANSWER 15 cubic feet per min (CFM) per person What system delivers heat and AC through the same ducts? CORRECT ANSWER Forced warm air system As a measure of t...

NYREI Exam with complete solutions-Graded A

NYREI Study Guide with complete solutions