NYREI School Exam Questions and Answers (Graded A)

NYREI School Exam Questions and Answers (Graded A)NYREI School Exam Questions and Answers (Graded A)NYREI School Exam Questions and Answers (Graded A)NYREI School Exam Questions and Answers (Graded A)NYREI School Exam Questions and Answers (Graded A) What is the minimum licensing requirement to sell commercial real estate in New York? - ANSWER-a real estate salesperson's license What is the preferred method of creating an agency relationship? - ANSWER-expressed agency An amenity purchaser - ANSWER-occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ANSWER-real / deed A salesperson who is an independent contractor - ANSWER-is not subject to withholding requirements. A homeowner facing foreclosure has a number of liens: The original mortgage, a mechanic's lien from six months ago, a judgment lien from two years ago, and a property tax lien that was just filed. When the property is sold, which lien will be paid first from the proceeds? - ANSWER-property tax lien What is another word for principal? - ANSWER-Client. The principal in any fiduciary relationship is the client. The tenant signs a two-month lease on an apartment ending September 1. What type of leasehold estate does this represent? - ANSWER-estate for years What are the age and experience requirements to apply for a salesperson license? - ANSWER-18 years old and no experience necessary