Nyrei actual exam - Study guides, Class notes & Summaries

NYREI Exam Questions and Answers Latest Update 2024/2025 (100% Correct) Who is responsible for the administration of licensing? Secretary of State Which article of real property law deals with licensees? Article 12A Which article of real property law deals with real estate transactions, such as zoning, subdivisions, easements, and the like? Article 9A Which article of real property is is a proceeding known as a "suit to Quiet Title"? Article 14 What does section 443 of Article 12A dea...

NYREI PRACTICE EXAM QUESTIONS WITH ANSWERS LATEST UPDATE 2024/2025 (100% CORRECT ANSWERS) GRADED. For the income approach to appraisal, value is a reference to what? - ANSWER the worth of the investment Which method of property description is most frequently used in New York State? - ANSWER Metes and bounds One important characteristic of investing caused Bill to invest in certificates of deposit rather than real estate. Bill was concerned with - ANSWER liquidity. Who sets the legal descri...

NYREI Exam With 100% Correct Answers 2023 employee - Correct Answer-someone who works under the direction and control of another independent contractor - Correct Answer-individual who is self employed statutory employee - Correct Answer-independent contractors specifically classified as employees by statute for social security and medicare taxes statutory non-employees - Correct Answer-direct sellers and licenses real estate agents; treated as independent contracts for all tax purposes...

NYREI Exam Review (1-10)updated correctly answered 2023 According to IRS code, licensed re agents are: - correct answer statutory non-employees who are treated as independent contractors for tax purposes Each licensed broker shall keep and maintain records for: - correct answer 3 years Brokers can provide ______, but salespersons are responsible for _____ incurred - correct answer office and supplies, expenses Who issues real estate licenses - correct answer NY State Dept of State's D...

According to IRS code, licensed re agents are: - ANSWER statutory non-employees who are treated as independent contractors for tax purposes Each licensed broker shall keep and maintain records for: - ANSWER 3 years Brokers can provide ______, but salespersons are responsible for _____ incurred - ANSWER office and supplies, expenses Who issues real estate licenses - ANSWER NY State Dept of State's Division of Licensing Services associate real estate brokers - ANSWER became brokers bu...

NYREI Quiz Questions with Correct Answers Greg lists his home with PDQ Realty allowing them to put a sign in the yard, list it in MLS, and advertise it in the local newspaper. During the listing period, Greg sells the home to his brother and is not obligated to pay PDQ any commission. What type of listing did Greg have with PDQ? - Answer-Exclusive agency Which statement indicates that the listing agreement is an exclusive right to sell? (the commission expected on the sale price, a noti...

For the income approach to appraisal, value is a reference to what? - ANSWER the worth of the investment Which method of property description is most frequently used in New York State? - ANSWER Metes and bounds One important characteristic of investing caused Bill to invest in certificates of deposit rather than real estate. Bill was concerned with - ANSWER liquidity. Who sets the legal description? - ANSWER surveyor Dwelling policies generally exclude - ANSWER water damage. John is gath...

Who is responsible for the administration of licensing? Secretary of State Which article of real property law deals with licensees? Article 12A Which article of real property law deals with real estate transactions, such as zoning, subdivisions, easements, and the like? Article 9A Which article of real property is is a proceeding known as a "suit to Quiet Title"? Article 14 What does section 443 of Article 12A deal with? disclosure issues Which federal agency is not involved with re...

NYREI EXAM ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |AGRADE employee - ANSWER- someone who works under the direction and control of another independent contractor - ANSWER- individual who is self employed statutory employee - ANSWER- independent contractors specifically classified as employees by statute for social security and medicare taxes statutory non-employees - ANSWER- direct sellers and licenses real estate agents; treated as independent contracts...

NYREI Quiz Questions with Correct Answers Greg lists his home with PDQ Realty allowing them to put a sign in the yard, list it in MLS, and advertise it in the local newspaper. During the listing period, Greg sells the home to his brother and is not obligated to pay PDQ any commission. What type of listing did Greg have with PDQ? - Answer-Exclusive agency Which statement indicates that the listing agreement is an exclusive right to sell? (the commission expected on the sale price, a noti...