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New York Real Estate Brokers Exam Study Guide Solutions
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New York Real Estate Brokers Exam Study Guide Solutions abstract of title - ANSWER-The condensed history of a title to a particular parcel of real estate abutting - ANSWER-neighboring land with a common boundary acceleration clause - ANSWER-clause in a note or mortgage that can be enforced to m...

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  • November 11, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
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  • new york real estate brokers exam study guide solu

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED




New York Real Estate Brokers Exam Study

Guide Solutions


abstract of title - ANSWER✔✔-The condensed history of a title to a particular parcel of real estate


abutting - ANSWER✔✔-neighboring land with a common boundary


acceleration clause - ANSWER✔✔-clause in a note or mortgage that can be enforced to make the entire

debt due immediately if mortgagor defaults


accession - ANSWER✔✔-acquisition of land by deposits from an adjoining stream; also the acquisition of

fixtures or improvements built on one's land by another


accessory (apartment) use - ANSWER✔✔-an additional apartment, usually small, sometimes allowed in

an area zoned for one-family homes, which might be used for elderly grandparents; or a small home

business


action to quiet title - ANSWER✔✔-legal action to perfect the claim


Adirondack Park Agency - ANSWER✔✔-regulates development on private land in the park


affirmative marketing - ANSWER✔✔-program to inform all buyers in a minority community about

housing opportunities available, without discrimination


alpha particles - ANSWER✔✔-uranium decays and produces radon gas, which in turn decays and

produces alpha particles




Copyright ©Stuvia International BV 2010-2024 Page 1/9

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED


apportionments - ANSWER✔✔-adjustment of the income, expenses, or carrying charges of real estate

usually computed to the date of closing of title so that the seller pays all expenses to that date


asbestos - ANSWER✔✔-lung disease caused by exposure to asbestos


basement - ANSWER✔✔-space wholly or partly below grade, usually not used for living accommodations


black book - ANSWER✔✔-offering plan for a coop or condo as accepted for filing by the attorney general

and used for marketing


boot - ANSWER✔✔-money or property given to make up any difference in value or equity between two

properties in an exchange


building-related illness (BRI) - ANSWER✔✔-symptoms such as hypersensitivity, asthma, and allergic

reactions caused by toxic substances and pathogens in a building that remain with the affected individual

even when away from the building


bullet loan - ANSWER✔✔-short or intermediate term (3 to 5 years) interest-only loan with a balloon

payment at the end of the term ; as called an intermediate loan or conduit financing


casement window - ANSWER✔✔-a window that opens on hinges


CBS - ANSWER✔✔-memory aid for an appraiser's adjustments: Comparable, better, subtract


chlordane - ANSWER✔✔-an insecticide banned in the 1980s


company dollar - ANSWER✔✔-funds remaining after the costs of sales, such as commissions paid to

sales associates, referral fees, and cooperating fees paid to other brokers, are deducted from gross

commissions received by the company


CPA - ANSWER✔✔-Appraiser's memory aid in making adjustments: Comparable Poorer, Add

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