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New York Real Estate Salesperson Exam Questions And Answers.
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New York Real Estate Salesperson Exam Questions And Answers.
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New York Real Estate Salesperson ExamQuestions And Answers.
Article .12A: .NYS .Real .Property .Law .- .(correct .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 .- .(correct .answer) .--profit .from .sale .that .is .taxed
- .single .person .has .first .$250,000 .tax .free
- .married .couple .$500,000 .tax .free
Property .Condition .Disclosure .Statement .- .
(correct .answer) .-- .6 .page .statement .seller .must .fill .out .on .condition .of .property .BEFORE .buyer .sign
s .contract .
- .if .seller .does .not .provide, .has .to .pay .$500 .at .closing
- .NOT .needed .for .new .construction .residential, .foreclosure .sales, .condos .and .co-ops, .or .commercial
CFC .Chloro-fluoro-carbons .- .(correct .answer) .-
Gases .that .leak .out .of .air .conditioning .units .and .go .into .air
- .regulated .by .Clean .Air .Act
- .Freon
- .illegal
PCBs .Poly-chlorinated .Biphenyls .- .(correct .answer) .-Liquids .used .to .cool .power .plants
- .cancer .causing .and .can .seep .into .soil .or .ground .water
USTs .Underground .Storage .Tanks .- .
(correct .answer) .-- .Regulated .by .Department .of .Environmental .CONSERVATION
,- .USTs .under .1100 .gallons .that .hold .gas .or .diesel .are .not .regulated
Blind .Ad .- .(correct .answer) .-- .ad .that .is .ambiguous .or .does .not .give .actual .geographic .location
- .location .is .required .and .must .be .specific .
- .also .must .put .you .have .a .real .estate .license
Fee .Simple .Absolute .- .(correct .answer) .-- .owning .is .freehold
- .fee .simple .is .fullest .and .most .common .form .of .freehold .interest
- .gives .full .Bundle .of .Rights
Bundle .of .Rights .- .(correct .answer) .--Possession .(access .and .use)
- .Quiet .Enjoyment .(no .nuisance, .danger)
- .Disposition .(right .to .sell, .give .away)
- .Exclusion .(keep .people .out)
- .Control .(build, .tear .down)
Deed, .Title, .Conveyance .- .(correct .answer) .-Deed .is .paper .showing .ownership
- .Title .is .idea .of .ownership
- .Conveyance .transfers .title .to .new .owner .by .deed
Elements .of .valid .deed .- .(correct .answer) .-- .competent .grantor
- .signature .of .grantor
- .identifiable .grantee
- .consideration
- .words .of .conveyance
- .legal .description
- .delivery .and .acceptance
Assignment .- .
(correct .answer) .-- .tenant .who .has .to .break .a .lease .can .assign .lease .to .new .tenant .who .has .same .l
ease .teams .(money, .rent, .time, .etc) .old .tenant .leaves .and .new .is .responsible .for .lease
, Sublease .- .
(correct .answer) .-- .tenant .who .sublets .is .responsible .for .getting .payments .from .sublease .to .landlord
.(lessor)
Clean .Air .Act .- .(correct .answer) .-- .sets .limits .on .pollutants .in .air
- .radon .not .covered .by .clean .air .act
- .covers .CFCs .(air .conditioning .gas)
Clean .Water .Act .- .(correct .answer) .-- .stops .pollutants .in .rivers, .lakes, .aquifers
- .PCBs .which .come .in .liquid .form .are .covered .by .this .law
Safe .Drinking .Water .Act .- .(correct .answer) .-- .nationwide .standards .for .drinking .water .quality
- .Feds .supervise .the .states .and .private .water .suppliers .
- .NYS .Dept .of .Health .follows .law .and .is .in .charge .for .NY
CERCLA .(Comprehensive .Response, .Compensation .and .Liability .Act .- .(correct .answer) .-- .superfund .
- .helps .pay .for .clean .ups
- .when .uncontrolled .or .hazardous .spill .this .fun .responds .for .clean .up .and .sees .who .is .responsible
Sheathing .and .Flashing .- .
(correct .answer) .-- .Sheathing .is .panels .that .they .put .outside .to .keep .the .rain .out- .nailed .to .the .wall
.studs .or .roof .rafters
- .flashing .is .a .flexible .material .(aluminum) .which .covers .cracks
Survivorship .- .
(correct .answer) .-- .if .one .owner .dies .the .other .owners .automatically .inherit .the .real .estate
- .survivorship .applies .to .owner .by .entirety .(married .couple) .and .joint .tenants .
(2 .or .more .married .people .with .equal .ownership .shares)
How .to .become .salesperson .- .(correct .answer) .-- .18 .years .old
- .75 .hour .class
- .state .test .and .school .test
- .Department .of .state .approves .
- .can .only .be .paid .by .broker
How .to .become .a .broker .- .(correct .answer) .--120 .hours .of .class
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