1 Exam (elaborations) New York Real Estate Prep Final Exam With Complete Solutions 100% 2024 2 Exam (elaborations) New York Real Estate Brokers Assessment Exam And Verified Answers 2024. 3 Exam (elaborations) New York Real Estate Pro Final Exam And Answers GradedA+ 2024. 4 Exam (elaborations) Ne...
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The situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker - Answer -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low of...
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Add to cartThe situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker - Answer -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low of...
abstract of title - Answer The condensed history of a title to a particular parcel of real estate abutting - Answer neighboring land with a common boundary acceleration clause - Answer clause in a note or mortgage that can be enforced to make the entire debt due immediately if mortgag...
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Add to cartabstract of title - Answer The condensed history of a title to a particular parcel of real estate abutting - Answer neighboring land with a common boundary acceleration clause - Answer clause in a note or mortgage that can be enforced to make the entire debt due immediately if mortgag...
According to New York State real property law, a real estate salesperson's license is issued for a term for how many years? - Answer Two Chris has not renewed his real estate salesperson's license. It has been expired for one year. To be active again, Chris must - Answer Complete the 75-hou...
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Add to cartAccording to New York State real property law, a real estate salesperson's license is issued for a term for how many years? - Answer Two Chris has not renewed his real estate salesperson's license. It has been expired for one year. To be active again, Chris must - Answer Complete the 75-hou...
What must a licensed real estate salesperson keep on him or herself at all times when practicing as an agent...? A. Business Card B. Pocket Card C. NYS Driver's License D. Cell Phone - Answer B. Pocket Card How many hours of course study must an individual take in order to sit for the N...
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Add to cartWhat must a licensed real estate salesperson keep on him or herself at all times when practicing as an agent...? A. Business Card B. Pocket Card C. NYS Driver's License D. Cell Phone - Answer B. Pocket Card How many hours of course study must an individual take in order to sit for the N...
NYS Department of State - Answer primarily responsible for issuing real estate licenses , pocket cards , and handing down disciplinary action Article 12 A - Answer outlines the roles / duties of the Department of State New York Court of Appeals - Answer the highest court in New York Stat...
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Add to cartNYS Department of State - Answer primarily responsible for issuing real estate licenses , pocket cards , and handing down disciplinary action Article 12 A - Answer outlines the roles / duties of the Department of State New York Court of Appeals - Answer the highest court in New York Stat...
What agency issues real estate licenses? - Answer The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - Answer 18 Do you need experience in the field to become a sales person? - Answer No What is the mi...
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Add to cartWhat agency issues real estate licenses? - Answer The New York State Department of State (NYDOS), Divison of Licensing Services At what age can you become a real estate salesperson? - Answer 18 Do you need experience in the field to become a sales person? - Answer No What is the mi...
Freehold Estate -Answer An estate in land in which ownership is for an indeterminate length of time, in contrast to a leasehold estate. Leasehold Estate -Answer An estate that gives the holder (Tenant) a temporary right to possession, without title. In eminent domain, what value is the...
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Add to cartFreehold Estate -Answer An estate in land in which ownership is for an indeterminate length of time, in contrast to a leasehold estate. Leasehold Estate -Answer An estate that gives the holder (Tenant) a temporary right to possession, without title. In eminent domain, what value is the...
Article 12-A of the NYS Real Property Law - Answer The section of the New York Real Property Law pertaining to real estate salespersons and brokers. Three requirements of 12A - Answer - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - ...
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Add to cartArticle 12-A of the NYS Real Property Law - Answer The section of the New York Real Property Law pertaining to real estate salespersons and brokers. Three requirements of 12A - Answer - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - ...
Which of the following statements about license laws is INCORRECT? - Answer The federal government establish license laws In New York, an individual may obtain a salesperson license at age: - Answer 18 A salesperson licensee may receive commissions from the: - Answer Employing broker ...
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Add to cartWhich of the following statements about license laws is INCORRECT? - Answer The federal government establish license laws In New York, an individual may obtain a salesperson license at age: - Answer 18 A salesperson licensee may receive commissions from the: - Answer Employing broker ...
J, who has no real estate license, canvasses homeowners by phone to determine whether they are interested in selling their homes. B, who is licensed, gives J $25 for every lead she turns up. Does this violate license law? - Answer Yes, because B is paying compensation for services that require li...
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Add to cartJ, who has no real estate license, canvasses homeowners by phone to determine whether they are interested in selling their homes. B, who is licensed, gives J $25 for every lead she turns up. Does this violate license law? - Answer Yes, because B is paying compensation for services that require li...
Department of State responsibility? - Answer Responsible for issuing real estate licenses, pock cards, and handing down disciplinary action. Article 12-A NYS real property law outlines - Answer Roles and responsibilities of department of state. Typical commission in NY? - Answer 6% ...
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Add to cartDepartment of State responsibility? - Answer Responsible for issuing real estate licenses, pock cards, and handing down disciplinary action. Article 12-A NYS real property law outlines - Answer Roles and responsibilities of department of state. Typical commission in NY? - Answer 6% ...
What is your status under the Internal Revenue code - Answer A statutory non-employee What is your status under NY Law, and where you are supervised by a Broker - Answer Independent Contractor How long are records to be maintained for - Answer 3 years Where do we get our license from ...
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Add to cartWhat is your status under the Internal Revenue code - Answer A statutory non-employee What is your status under NY Law, and where you are supervised by a Broker - Answer Independent Contractor How long are records to be maintained for - Answer 3 years Where do we get our license from ...
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 ...
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Add to cartAn 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 ...
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 lice...
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Add to cart1-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 lice...
80/20 Rule Rule - Answer that says in order for individual shareholders to continue to be able to write off yearly taxes and mortgage interest, no more than 20 percent of a co-op's yearly income can come from non-shareholder sources. Abandonment - Answer The failure to occupy and use prope...
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Add to cart80/20 Rule Rule - Answer that says in order for individual shareholders to continue to be able to write off yearly taxes and mortgage interest, no more than 20 percent of a co-op's yearly income can come from non-shareholder sources. Abandonment - Answer The failure to occupy and use prope...
associate real estate broker - Answer a licensed real estate broker who may perform the acts of a broker but chooses to work under the name and supervision and license of a licensed broker real estate broker - Answer any oersons partnership association or corporation who, for another and fo...
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Add to cartassociate real estate broker - Answer a licensed real estate broker who may perform the acts of a broker but chooses to work under the name and supervision and license of a licensed broker real estate broker - Answer any oersons partnership association or corporation who, for another and fo...
Ad valorem tax - Answer Taxes based on the assessed value of property Reasons local governments choose to impose real property taxes rather than raise the sales and/or income tax - Answer -Protected -Easy to administer -Predictable -Do not distinguish between resident and nonresident hom...
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Add to cartAd valorem tax - Answer Taxes based on the assessed value of property Reasons local governments choose to impose real property taxes rather than raise the sales and/or income tax - Answer -Protected -Easy to administer -Predictable -Do not distinguish between resident and nonresident hom...
1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - Answer c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage pro...
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Add to cart1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - Answer c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage pro...
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 the...
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Add to cartWhich 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 the...
In NYS, how old must one be to enter into contracts? - Answer 18 What other capability should they possess? - Answer Mental and emotional capability What happens if one of the parties to the contract is a minor? - Answer The contract is voidable by the minor What does the zoning bo...
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Add to cartIn NYS, how old must one be to enter into contracts? - Answer 18 What other capability should they possess? - Answer Mental and emotional capability What happens if one of the parties to the contract is a minor? - Answer The contract is voidable by the minor What does the zoning bo...
Article 12A: NYS Real Property Law - Answer "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption - A...
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Add to cartArticle 12A: NYS Real Property Law - Answer "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption - A...
as a real estate sales person, i am practicing - Answer special agency as a property manager i am practicing - Answer general agency in estate planning i am practicing - Answer universal agency if its my intention to protect my client,usually the seller,from the vicarious liability...
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Add to cartas a real estate sales person, i am practicing - Answer special agency as a property manager i am practicing - Answer general agency in estate planning i am practicing - Answer universal agency if its my intention to protect my client,usually the seller,from the vicarious liability...
What agency issues real estate licenses? - Answer NYS DOS, DIVISION OF LICENSING At what age can you become a real estate salesperson? - Answer 18 Do you need experience in the field to become a salesperson? - Answer No What is the minimum age to become a real estate broker? - Answ...
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Add to cartWhat agency issues real estate licenses? - Answer NYS DOS, DIVISION OF LICENSING At what age can you become a real estate salesperson? - Answer 18 Do you need experience in the field to become a salesperson? - Answer No What is the minimum age to become a real estate broker? - Answ...
what is the purpose of license laws? - Answer assist real estate consumers with their largest single investment, protect public by ensuring consistent level of competence ethics and professionalism foundation for the New York license law? - Answer Article 12A, Real Property Law, Licensing o...
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Add to cartwhat is the purpose of license laws? - Answer assist real estate consumers with their largest single investment, protect public by ensuring consistent level of competence ethics and professionalism foundation for the New York license law? - Answer Article 12A, Real Property Law, Licensing o...
Regulation of real estate has been assigned to - Answer Department of state Departments within Department of State? - Answer Secretary of State and New York Board of Real Estate Secretary of State - Answer In charge of administration of licensing, examination, education, and complianc...
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Add to cartRegulation of real estate has been assigned to - Answer Department of state Departments within Department of State? - Answer Secretary of State and New York Board of Real Estate Secretary of State - Answer In charge of administration of licensing, examination, education, and complianc...
The situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker - Answer -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low of...
Preview 2 out of 13 pages
Add to cartThe situation with the most potential for conflict is when a real estate licensee acts as a: -Dual Agent -Buyers Broker -Sellers Agent -Transaction Broker - Answer -Dual Agent A seller has listed her home with a broker for $90,000, and the broker tells a prospective buyer to submit a low of...
abstract of title - Answer The condensed history of a title to a particular parcel of real estate abutting - Answer neighboring land with a common boundary acceleration clause - Answer clause in a note or mortgage that can be enforced to make the entire debt due immediately if mortgag...
Preview 2 out of 8 pages
Add to cartabstract of title - Answer The condensed history of a title to a particular parcel of real estate abutting - Answer neighboring land with a common boundary acceleration clause - Answer clause in a note or mortgage that can be enforced to make the entire debt due immediately if mortgag...
According to New York State real property law, a real estate salesperson's license is issued for a term for how many years? - Answer Two Chris has not renewed his real estate salesperson's license. It has been expired for one year. To be active again, Chris must - Answer Complete the 75-hou...
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Add to cartAccording to New York State real property law, a real estate salesperson's license is issued for a term for how many years? - Answer Two Chris has not renewed his real estate salesperson's license. It has been expired for one year. To be active again, Chris must - Answer Complete the 75-hou...
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