BUNDLED-NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials JJ owns a building with 10 small office suites. The rent of each office is $2,000 per month. She averages 20% vacancy and collects $1,000 a year from the parking meters. What is the potential gross income for JJ's building? $...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Real Estate Broker A licensed individual or firm that charges a fee to serve as the mediator between the buyer and seller. Mortgage brokers are individuals in the business of arranging funding or negotiating contracts for a cl...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Usury illegaly charging higher interest rates than the legal limit. Continuing Education A Real Estate license is valid for 2 years. To renew you have to take 22.5 hours within the 2 years and report to Dept of State. PITI S...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Which of these would void a deed intended to convey property? The grantee is not mentally competent. The grantee's signature is not acknowledged. The grantor is not mentally competent. The transfer includes no monetary c...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Which of the following statements on leasehold estates are true? a. A leasehold estate is for a limited time. b. A leasehold estate grants possession, but not title. c. A and B are true d. Neither A nor B are true c. A and...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? Two What happens to the licenses of salespersons if their sponsoring broker's license is revok...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Which of the following can do the transaction without having a real estate license? A) A non-profit corporation negotiating rent for a branch office B) An office tenant negotiating rent on behalf of another tenant C) An ...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials What are the other DOS Licenses? (5) 1. Notary public 2. Apartment Information Vendor 3. Apartment Sharing Agent 4. Appraiser 5 Home inspector Office regulations 1. Must have appropriate office signage 2. Kickbacks are il...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials The secondary money market refers to? Transfers of notes and T.D.s between mortgagees for value If a broker's salespersons meet IRS criteria as independent contractors, the broker would be responsible for? Worker's compe...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Statutory Period of Redemption Period of time after a tax sale during which a property may be redeemed a "mill" millage x 1,000 = mill rate Cash Flow NOI - debt service Effective Gross Income Potential gross income -...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials Administrative Discipline The Department of State's ability to enforce license laws through reprimand and denial as well as the suspension and revocation of licenses Apartment Information Vendor Any person who engages in th...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials How many members does the Governor appoint to the Board of Real Estate? 3 brokers and 4 public members In order to become a licensed salesperson in New York, a candidate must _________successfully. complete the 77-hour pre-lic...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials 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 -B: Salesperson can accept compensation only from their sponsoring broker. 2...

NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy Quality Materials According to Article 12-A (NYS Real Property Law), this person shall prosecute criminal actions for violations of the Real Property Law. Attorney General Highest court in New York State New York Court of Appeals Real Estate L...