NY Real Estate State Exam (Mult Choice) Solved.
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 - ️️️c) agreement between the principal and the ag...
NY Real Estate State Exam (Mult
Choice) Solved.
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 - ✔️✔️✔️c) agreement between the principal and the agent
Heat from outside air is utilized through a:
a.reverse conditioner
b.passive solar system
c.heat pump
d.cold air return - ✔️✔️✔️c) heat pump
An automatic renewal clause in a lease is.
a.is not allowed on rent-stabilized apartments
b.is granted every tenant in a building with four or more units
c.is illegal in New York State
d.requires notice from the landlord calling the tenants attention to the clause. - ✔️✔️✔
️d) requires notice from the landlord calling the tenants attention to the clause.
When listing a property, ABC Realty best protects its chances of earning a commission if the
listing is a:
Real Property Law section 443 disclosure requirements apply only to:
a.sale or lease of one to four-unit residential properties
b.all types of real estate transactions
c.mortgage financing arrangements
d.commercial properties - ✔️✔️✔️a) sale or lease of one to four-unit residential
properties
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 contact - ✔️✔️✔️c) agreement between the principal and the agent
In a single agency agreement in which a broker represents a seller
a.the buyer is the client
b.the seller is the client
c.the seller is the customer
d.the buyer is a subagent - ✔️✔️✔️b) the seller is the client
Broker John Brown owes customer Susie Smith
a.loyalty
b.fairness and honesty
c.confidentiality
NY Real Estate Exam Page 2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Succeed. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
