New York State Real Estate Salesperson
Licensing Exam
In NYS, how old must one be to enter into contracts? - correct answer-18
What other capability should they possess? - correct answer-Mental and emotional capability
What happens if one of the parties to the contract is a minor? - correct answer-The contract
is voidable by the minor
What does the zoning board of appeals do? - correct answer-Grants variances
What regulates construction standards in NYS? - correct answer-Building codes
What does municipal engineer's office do? - correct answer-Oversees planning and
construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else
mud the ad include? - correct answer-It must include the name of the geographical area
where the property is actually located
Who is usually exempt from property taxes? - correct answer-Disabled, veterans, farmers,
elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - correct answer-Second home owners
What covers fully or personal property lost in a fire? - correct answer-Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - correct answer-Length x Width = Area
What is the cash on cash return on a $2,000,000 property with a down payment of $500,000
and $15,000 monthly rental income? - correct answer-36%
Who hires the agent? - correct answer-Principal or client
What is not a CMA (Comparative Market Analysis?) - correct answer-An apprasial
What cannot a salesperson do? - correct answer-Collect money directly from the client or
customer
When should the Agency disclosure form be submitted? - correct answer-At the first
substantive contact
, Which document describes the agency (who he or she represents) of the salesperson? -
correct answer-Agency disclosure form
What is another name for the slope of a roof? - correct answer-Pitch
What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - correct answer-PCB's or polychlorinated biphenyls
What can brokers provide their salespeople if they are independent contractors? - correct
answer-Office phone
Whats right to access whiter from a river or stream called? - correct answer-Riparian
What did the civil rights act of 1866 protect without exception? - correct answer-Race
What did the 1988 amendment to the civil rights act protect? - correct answer-Disability and
familial status
What is convincing owners to sell/lease property by telling them a particular group of people
are moving into the area called? - correct answer-Blockbusting
What is it called when lenders/insurance agents refuse to do business in a certain area
based on the characteristics of the people living there? - correct answer-Redlining
Unless specified a lesser estate, transfer of title to real property in NYS creates what type of
interest? - correct answer-Fee Simple
What is another name for transfer of title to real property? - correct answer-Conveyance
What is it called when the government dictates how a property can be used? - correct
answer-Zoning
Who issues real estate licenses? - correct answer-NY Department of State
Who oversees licensing and registration of mortgage bankers and brokers? - correct
answer-NYS banking department
Which department oversees drinking water safety? - correct answer-Department of Health
Who determines commission? - correct answer-Principal/Client and the broker
What occurs when the agent represents the seller but also works in the best interests of the
buyer? - correct answer-Undisclosed dual agency
A real estate salesperson is what type of agent? - correct answer-Special
What clause in the deed describes the property? - correct answer-Legal descriptions
Licensing Exam
In NYS, how old must one be to enter into contracts? - correct answer-18
What other capability should they possess? - correct answer-Mental and emotional capability
What happens if one of the parties to the contract is a minor? - correct answer-The contract
is voidable by the minor
What does the zoning board of appeals do? - correct answer-Grants variances
What regulates construction standards in NYS? - correct answer-Building codes
What does municipal engineer's office do? - correct answer-Oversees planning and
construction of major highways, sweet systems and water connections
If a property ad states that the property is near the vicinity of a geographical area, what else
mud the ad include? - correct answer-It must include the name of the geographical area
where the property is actually located
Who is usually exempt from property taxes? - correct answer-Disabled, veterans, farmers,
elderly gold star parents *kids die in the war, star program homeowners
Who is not usually exempt from property taxes? - correct answer-Second home owners
What covers fully or personal property lost in a fire? - correct answer-Replacement cost
Find the square footage of a rectangular shaped floor plan. How do you find the area of a
square/rectangle? - correct answer-Length x Width = Area
What is the cash on cash return on a $2,000,000 property with a down payment of $500,000
and $15,000 monthly rental income? - correct answer-36%
Who hires the agent? - correct answer-Principal or client
What is not a CMA (Comparative Market Analysis?) - correct answer-An apprasial
What cannot a salesperson do? - correct answer-Collect money directly from the client or
customer
When should the Agency disclosure form be submitted? - correct answer-At the first
substantive contact
, Which document describes the agency (who he or she represents) of the salesperson? -
correct answer-Agency disclosure form
What is another name for the slope of a roof? - correct answer-Pitch
What carcinogenic component was used as insulation in electric transformers that
contaminated soil and ground water? - correct answer-PCB's or polychlorinated biphenyls
What can brokers provide their salespeople if they are independent contractors? - correct
answer-Office phone
Whats right to access whiter from a river or stream called? - correct answer-Riparian
What did the civil rights act of 1866 protect without exception? - correct answer-Race
What did the 1988 amendment to the civil rights act protect? - correct answer-Disability and
familial status
What is convincing owners to sell/lease property by telling them a particular group of people
are moving into the area called? - correct answer-Blockbusting
What is it called when lenders/insurance agents refuse to do business in a certain area
based on the characteristics of the people living there? - correct answer-Redlining
Unless specified a lesser estate, transfer of title to real property in NYS creates what type of
interest? - correct answer-Fee Simple
What is another name for transfer of title to real property? - correct answer-Conveyance
What is it called when the government dictates how a property can be used? - correct
answer-Zoning
Who issues real estate licenses? - correct answer-NY Department of State
Who oversees licensing and registration of mortgage bankers and brokers? - correct
answer-NYS banking department
Which department oversees drinking water safety? - correct answer-Department of Health
Who determines commission? - correct answer-Principal/Client and the broker
What occurs when the agent represents the seller but also works in the best interests of the
buyer? - correct answer-Undisclosed dual agency
A real estate salesperson is what type of agent? - correct answer-Special
What clause in the deed describes the property? - correct answer-Legal descriptions
