NEW YORK REAL ESTATE BUNDLED
SET 2026 TEST PAPER VERIFIED
QUESTIONS AND ANSWERS
◉ What type of residential real property
transfer would require a property
condition disclosure statement? Answer: Re-sales
◉ What happens to the licenses of
salespersons if their sponsoring
broker's license is revoked or suspended? Answer: They are suspended
◉ A listing broker for the seller has a
buyer-client who asks to see the
listing. This request could create
which type of agency? Answer: Dual agency
◉ A broker's compensation is
determined in an agreement between
the broker and the? Answer: Principal or client
◉ What fiduciary duty would be violated
when a client suffers a financial loss
as a result of an agent's lack of
,expertise in dealing with a particular
type of property? Answer: Reasonable care
◉ If clients who sign an "exclusive right
to sell" listing agreement with a
broker find a buyer for the property on
their own, the broker is Answer: Entitled to the
originally agreed upon
commission.
◉ At an open house, Quentin discloses
to an interested buyer that he has the
right to his own representation but the
buyer refuses. The buyer's
relationship to Quentin is as a(n)? Answer: Customer
◉ The main purpose of the agency
disclosure form is to? Answer: Inform consumers of
the agency relationship
of themselves to a real
estate agent and
available choices for
representation.
,◉ What scenario best illustrates the first
substantive contact with a prospective
buyer? Answer: An individual meeting
with an agent
face-to-face and
discussing a specific
property.
◉ What type of real estate agent is
authorized to represent a principal in
one specific transaction? Answer: Special
◉ The broker's principal is always the? Answer: Client
◉ Suzie Seller has chosen Broker Bovice
to represent her in the sale of her
house. Broker Bovice will advance
and protect Suzie's interest during the
sale. What word best describes their
relationship? Answer: Fiduciary
◉ Which legal right allows an owner of
, land bordering a river or stream to use
that water for recreational purposes? Answer: Riparian
◉ Which form of ownership can only be
held by a married couple? Answer: Tenancy by the entirety
◉ Which types of estate is recognized by
law to be the fullest form of
ownership? Answer: Fee simple absolute
(Unless contract says
otherwise).
◉ What deed provision would prohibit
an owner from installing an inground
pool? Answer: Restrictive covenant
◉ What lien has priority over all
recorded liens? Answer: A real estate tax lien
◉ Who must sign a deed? Answer: All grantors
◉ What do lenders require as protection
against title defects? Answer: Title insurance
SET 2026 TEST PAPER VERIFIED
QUESTIONS AND ANSWERS
◉ What type of residential real property
transfer would require a property
condition disclosure statement? Answer: Re-sales
◉ What happens to the licenses of
salespersons if their sponsoring
broker's license is revoked or suspended? Answer: They are suspended
◉ A listing broker for the seller has a
buyer-client who asks to see the
listing. This request could create
which type of agency? Answer: Dual agency
◉ A broker's compensation is
determined in an agreement between
the broker and the? Answer: Principal or client
◉ What fiduciary duty would be violated
when a client suffers a financial loss
as a result of an agent's lack of
,expertise in dealing with a particular
type of property? Answer: Reasonable care
◉ If clients who sign an "exclusive right
to sell" listing agreement with a
broker find a buyer for the property on
their own, the broker is Answer: Entitled to the
originally agreed upon
commission.
◉ At an open house, Quentin discloses
to an interested buyer that he has the
right to his own representation but the
buyer refuses. The buyer's
relationship to Quentin is as a(n)? Answer: Customer
◉ The main purpose of the agency
disclosure form is to? Answer: Inform consumers of
the agency relationship
of themselves to a real
estate agent and
available choices for
representation.
,◉ What scenario best illustrates the first
substantive contact with a prospective
buyer? Answer: An individual meeting
with an agent
face-to-face and
discussing a specific
property.
◉ What type of real estate agent is
authorized to represent a principal in
one specific transaction? Answer: Special
◉ The broker's principal is always the? Answer: Client
◉ Suzie Seller has chosen Broker Bovice
to represent her in the sale of her
house. Broker Bovice will advance
and protect Suzie's interest during the
sale. What word best describes their
relationship? Answer: Fiduciary
◉ Which legal right allows an owner of
, land bordering a river or stream to use
that water for recreational purposes? Answer: Riparian
◉ Which form of ownership can only be
held by a married couple? Answer: Tenancy by the entirety
◉ Which types of estate is recognized by
law to be the fullest form of
ownership? Answer: Fee simple absolute
(Unless contract says
otherwise).
◉ What deed provision would prohibit
an owner from installing an inground
pool? Answer: Restrictive covenant
◉ What lien has priority over all
recorded liens? Answer: A real estate tax lien
◉ Who must sign a deed? Answer: All grantors
◉ What do lenders require as protection
against title defects? Answer: Title insurance
