New York Real Estate Salesperson Exam Smart Prep
Exam Study Guide 2026/2027
⭐ Latest Edition | Complete Questions with Correct
Detailed Answers | High-Impact Revision
Get exam-ready the smart way with this Smart Prep Exam Study Guide (2026/2027
Edition)—a focused and effective resource designed to help you learn faster, practice better,
and perform with confidence.
This guide features complete exam questions with correct detailed answers, structured to
reflect real exam formats. Each answer includes clear explanations to help you understand key
concepts, avoid common mistakes, and improve accuracy.
🔥 Key Highlights
✔ Complete exam-style questions across essential topics
✔ Correct answers with detailed, easy-to-understand explanations
✔ High-yield content focused on commonly tested areas
✔ Clean, organized layout for quick revision
✔ Latest updated version (2026/2027)
🚀 Why This Guide Works
Designed for efficiency, this guide helps you target important topics, reinforce
understanding, and build strong exam confidence. Whether you’re preparing early or revising
last-minute, it gives you the structure you need to succeed.
🎯 Ideal For
• Certification and licensing exam preparation
• Final and midterm review
• Quick revision sessions
,• Practicing exam-style questions
• Improving performance and confidence
📚 A simple, reliable, and effective study tool to help you prepare smarter and achieve
better exam results.
Article 12A: NYS Real Property Law -ANSWER✅✅✅"Real Estate License Law"
- violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of
license
- all salespersons have license suspended
- after 1 year broker can apply to get license back
Capital Gains Tax Exemption -ANSWER✅✅✅-profit from sale that is taxed
- single person has first $250,000 tax free
- married couple $500,000 tax free
Property Condition Disclosure Statement -ANSWER✅✅✅- 6 page statement seller
must fill out on condition of property BEFORE buyer signs contract
- if seller does not provide, has to pay $500 at closing
- NOT needed for new construction residential, foreclosure sales, condos and co-ops, or
commercial
CFC Chloro-fluoro-carbons -ANSWER✅✅✅Gases that leak out of air conditioning
units and go into air
- regulated by Clean Air Act
- Freon
- illegal
PCBs Poly-chlorinated Biphenyls -ANSWER✅✅✅Liquids used to cool power plants
- cancer causing and can seep into soil or ground water
USTs Underground Storage Tanks -ANSWER✅✅✅- Regulated by Department of
Environmental CONSERVATION
- USTs under 1100 gallons that hold gas or diesel are not regulated
Blind Ad -ANSWER✅✅✅- ad that is ambiguous or does not give actual geographic
location
- location is required and must be specific
- also must put you have a real estate license
, Fee Simple Absolute -ANSWER✅✅✅- owning is freehold
- fee simple is fullest and most common form of freehold interest
- gives full Bundle of Rights
Bundle of Rights -ANSWER✅✅✅-Possession (access and use)
- Quiet Enjoyment (no nuisance, danger)
- Disposition (right to sell, give away)
- Exclusion (keep people out)
- Control (build, tear down)
Deed, Title, Conveyance -ANSWER✅✅✅Deed is paper showing ownership
- Title is idea of ownership
- Conveyance transfers title to new owner by deed
Elements of valid deed -ANSWER✅✅✅- competent grantor
- signature of grantor
- identifiable grantee
- consideration
- words of conveyance
- legal description
- delivery and acceptance
Assignment -ANSWER✅✅✅- tenant who has to break a lease can assign lease to new
tenant who has same lease teams (money, rent, time, etc) old tenant leaves and new is
responsible for lease
Sublease -ANSWER✅✅✅- tenant who sublets is responsible for getting payments
from sublease to landlord (lessor)
Clean Air Act -ANSWER✅✅✅- sets limits on pollutants in air
- radon not covered by clean air act
- covers CFCs (air conditioning gas)
Clean Water Act -ANSWER✅✅✅- stops pollutants in rivers, lakes, aquifers
- PCBs which come in liquid form are covered by this law
Safe Drinking Water Act -ANSWER✅✅✅- nationwide standards for drinking water
quality
- Feds supervise the states and private water suppliers
- NYS Dept of Health follows law and is in charge for NY
CERCLA (Comprehensive Response, Compensation and Liability Act -
ANSWER✅✅✅- superfund
- helps pay for clean ups
Exam Study Guide 2026/2027
⭐ Latest Edition | Complete Questions with Correct
Detailed Answers | High-Impact Revision
Get exam-ready the smart way with this Smart Prep Exam Study Guide (2026/2027
Edition)—a focused and effective resource designed to help you learn faster, practice better,
and perform with confidence.
This guide features complete exam questions with correct detailed answers, structured to
reflect real exam formats. Each answer includes clear explanations to help you understand key
concepts, avoid common mistakes, and improve accuracy.
🔥 Key Highlights
✔ Complete exam-style questions across essential topics
✔ Correct answers with detailed, easy-to-understand explanations
✔ High-yield content focused on commonly tested areas
✔ Clean, organized layout for quick revision
✔ Latest updated version (2026/2027)
🚀 Why This Guide Works
Designed for efficiency, this guide helps you target important topics, reinforce
understanding, and build strong exam confidence. Whether you’re preparing early or revising
last-minute, it gives you the structure you need to succeed.
🎯 Ideal For
• Certification and licensing exam preparation
• Final and midterm review
• Quick revision sessions
,• Practicing exam-style questions
• Improving performance and confidence
📚 A simple, reliable, and effective study tool to help you prepare smarter and achieve
better exam results.
Article 12A: NYS Real Property Law -ANSWER✅✅✅"Real Estate License Law"
- violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of
license
- all salespersons have license suspended
- after 1 year broker can apply to get license back
Capital Gains Tax Exemption -ANSWER✅✅✅-profit from sale that is taxed
- single person has first $250,000 tax free
- married couple $500,000 tax free
Property Condition Disclosure Statement -ANSWER✅✅✅- 6 page statement seller
must fill out on condition of property BEFORE buyer signs contract
- if seller does not provide, has to pay $500 at closing
- NOT needed for new construction residential, foreclosure sales, condos and co-ops, or
commercial
CFC Chloro-fluoro-carbons -ANSWER✅✅✅Gases that leak out of air conditioning
units and go into air
- regulated by Clean Air Act
- Freon
- illegal
PCBs Poly-chlorinated Biphenyls -ANSWER✅✅✅Liquids used to cool power plants
- cancer causing and can seep into soil or ground water
USTs Underground Storage Tanks -ANSWER✅✅✅- Regulated by Department of
Environmental CONSERVATION
- USTs under 1100 gallons that hold gas or diesel are not regulated
Blind Ad -ANSWER✅✅✅- ad that is ambiguous or does not give actual geographic
location
- location is required and must be specific
- also must put you have a real estate license
, Fee Simple Absolute -ANSWER✅✅✅- owning is freehold
- fee simple is fullest and most common form of freehold interest
- gives full Bundle of Rights
Bundle of Rights -ANSWER✅✅✅-Possession (access and use)
- Quiet Enjoyment (no nuisance, danger)
- Disposition (right to sell, give away)
- Exclusion (keep people out)
- Control (build, tear down)
Deed, Title, Conveyance -ANSWER✅✅✅Deed is paper showing ownership
- Title is idea of ownership
- Conveyance transfers title to new owner by deed
Elements of valid deed -ANSWER✅✅✅- competent grantor
- signature of grantor
- identifiable grantee
- consideration
- words of conveyance
- legal description
- delivery and acceptance
Assignment -ANSWER✅✅✅- tenant who has to break a lease can assign lease to new
tenant who has same lease teams (money, rent, time, etc) old tenant leaves and new is
responsible for lease
Sublease -ANSWER✅✅✅- tenant who sublets is responsible for getting payments
from sublease to landlord (lessor)
Clean Air Act -ANSWER✅✅✅- sets limits on pollutants in air
- radon not covered by clean air act
- covers CFCs (air conditioning gas)
Clean Water Act -ANSWER✅✅✅- stops pollutants in rivers, lakes, aquifers
- PCBs which come in liquid form are covered by this law
Safe Drinking Water Act -ANSWER✅✅✅- nationwide standards for drinking water
quality
- Feds supervise the states and private water suppliers
- NYS Dept of Health follows law and is in charge for NY
CERCLA (Comprehensive Response, Compensation and Liability Act -
ANSWER✅✅✅- superfund
- helps pay for clean ups
