New York State Real Estate U – New York Real Estate Course – Practice Questions with Answers

New York State Real estate U
Questions And Correct Answers



Which of the following is NOT exempt from obtaining a license?

A licensed attorney acting as a sponsor to a real estate salesperson




A real estate salespersons license must be renewed every .........years.

2




A real estate salesperson operates as what type of agent to their client?

Special Agent




According to this, a broker may be held responsible for the unlawful actions of his/her
salespersons?

Vicarious Liability




This Act made price fixing, group boycotts, market allocation, and tie-in arrangements
illegal?

Sherman Anti-Trust Act

, Which of the following is required in order for a broker to act as a dual agent?

Advanced informed consent from both the buyer and seller




Personal property is also known as...?

Chattel




Mark owns a single family home. He decides to transfer ownership of the property to
his daughter, Nancy; however, the ownership of the property will revert back to Mark
upon the death of Nancy's aunt, Martha. Which of the following was created?

Life Estate




Which of the following leasehold estates is open-ended, as it does not have a
termination date?

Estate at Will




Which of the following is an example of a fixture...?

Custom book shelves