NEW YORK REAL ESTATE BUNDLED
SET 2026 STUDY GUIDE PRACTICE
QUESTIONS DETAILED SOLUTIONS
◉ acknoweledgement. Answer: a formal declaration before an officer by
a person who has a deed
◉ acre. Answer: 43,560 square feet
◉ Actual Eviction. Answer: when the landlord removes the tenant from
the property without aid of the court system, it is a wrongful use of self-
help
◉ Ad valerum tax. Answer: according to valuation
◉ Adjusted Bias. Answer: The original cost of a property - depreciation
and sales of portions
◉ Adjustable rate mortgage (ARM). Answer: a mortgage with an
interest rate that increases or decreases during the life of the loan
◉ Advance consent to dual agency. Answer: The seller or buyer agrees
to dual agency before it occurs by indicating the same on the agency
disclosure form.
, ◉ Adverse Possession. Answer: A person takes possession & use of a
property belonging to another. Possession must be open, notorious,
hostile & uninterrupted for a certain period of time.
◉ Agency Disclosure Form. Answer: A written explanation, to be
signed by a prospective buyer or seller of real estate, explaining to the
client the role that the broker plays in the transaction.
◉ agent. Answer: represents buyers or sellers on a relatively permanent
basis
◉ Americans with Disabilities Act. Answer: Passed by Congress in
1991, discrimination based off disability
◉ Amortization. Answer: the reduction of a loan balance through
payments made over a period of time
◉ appraisal. Answer: An estimate of the current value of the property.
◉ Architectural Review Board. Answer: Oversees and upholds the
quality of a neighborhood, town, or city.
◉ Area Variance. Answer: Permission to modify the regulations
imposed by local zoning.
SET 2026 STUDY GUIDE PRACTICE
QUESTIONS DETAILED SOLUTIONS
◉ acknoweledgement. Answer: a formal declaration before an officer by
a person who has a deed
◉ acre. Answer: 43,560 square feet
◉ Actual Eviction. Answer: when the landlord removes the tenant from
the property without aid of the court system, it is a wrongful use of self-
help
◉ Ad valerum tax. Answer: according to valuation
◉ Adjusted Bias. Answer: The original cost of a property - depreciation
and sales of portions
◉ Adjustable rate mortgage (ARM). Answer: a mortgage with an
interest rate that increases or decreases during the life of the loan
◉ Advance consent to dual agency. Answer: The seller or buyer agrees
to dual agency before it occurs by indicating the same on the agency
disclosure form.
, ◉ Adverse Possession. Answer: A person takes possession & use of a
property belonging to another. Possession must be open, notorious,
hostile & uninterrupted for a certain period of time.
◉ Agency Disclosure Form. Answer: A written explanation, to be
signed by a prospective buyer or seller of real estate, explaining to the
client the role that the broker plays in the transaction.
◉ agent. Answer: represents buyers or sellers on a relatively permanent
basis
◉ Americans with Disabilities Act. Answer: Passed by Congress in
1991, discrimination based off disability
◉ Amortization. Answer: the reduction of a loan balance through
payments made over a period of time
◉ appraisal. Answer: An estimate of the current value of the property.
◉ Architectural Review Board. Answer: Oversees and upholds the
quality of a neighborhood, town, or city.
◉ Area Variance. Answer: Permission to modify the regulations
imposed by local zoning.
