New York State Real Estate Salesperson Licensing Exam UPDATED ACTUAL Questions and CORRECT Answers
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Course
New York State Real Estate Salesperson Licensing
Institution
New York State Real Estate Salesperson Licensing
New York State Real Estate Salesperson
Licensing Exam UPDATED ACTUAL
Questions and CORRECT Answers
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER- 18
What other capability should they possess? - CORRECT ANSWER- Mental and
emotional capability
What happens if one of t...
New York State Real Estate Salesperson
Licensing Exam UPDATED ACTUAL
Questions and CORRECT Answers
In NYS, how old must one be to enter into contracts? - CORRECT ANSWER- ✔✔18
What other capability should they possess? - CORRECT ANSWER- ✔✔Mental and
emotional capability
What happens if one of the parties to the contract is a minor? - CORRECT ANSWER-
✔✔The contract is voidable by the minor
What does the zoning board of appeals do? - CORRECT ANSWER- ✔✔Grants variances
What regulates construction standards in NYS? - CORRECT ANSWER- ✔✔Building codes
What does municipal engineer's office do? - CORRECT ANSWER- ✔✔Oversees planning
and construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else
mud the ad include? - CORRECT ANSWER- ✔✔It must include the name of the
geographical area where the property is actually located
Who is usually exempt from property taxes? - CORRECT ANSWER- ✔✔Disabled, veterans,
farmers, elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - CORRECT ANSWER- ✔✔Second home
owners
What covers fully or personal property lost in a fire? - CORRECT ANSWER-
✔✔Replacement cost
, Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - CORRECT ANSWER- ✔✔Length x Width = Area
What is the cash on cash return on a $2,000,000 property with a down payment of $500,000
and $15,000 monthly rental income? - CORRECT ANSWER- ✔✔36%
Who hires the agent? - CORRECT ANSWER- ✔✔Principal or client
What is not a CMA (Comparative Market Analysis?) - CORRECT ANSWER- ✔✔An
apprasial
What cannot a salesperson do? - CORRECT ANSWER- ✔✔Collect money directly from the
client or customer
When should the Agency disclosure form be submitted? - CORRECT ANSWER- ✔✔At the
first substantive contact
Which document describes the agency (who he or she represents) of the salesperson? -
CORRECT ANSWER- ✔✔Agency disclosure form
What is another name for the slope of a roof? - CORRECT ANSWER- ✔✔Pitch
What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - CORRECT ANSWER- ✔✔PCB's or polychlorinated
biphenyls
What can brokers provide their salespeople if they are independent contractors? - CORRECT
ANSWER- ✔✔Office phone
Whats right to access whiter from a river or stream called? - CORRECT ANSWER-
✔✔Riparian
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