REAL ESTATE U FINAL EXAM 2024 – 2025 ACTUAL
EXAM COMPLETE 400 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) /
ALREADY GRADED A+
Article 12-A - ANSWER: The section of the New York Real Property Law pertaining to
real estate salespersons and brokers.
sponsor - ANSWER: A licensed real estate broker that holds the license of a
salesperson
summary of your submission - ANSWER: Obtained after you regustsr for the NYS
Salesperson exam. must bring when take the NYS exam
Misdemeanor - ANSWER: crime punishable by up to one year in jail, a fine of less
than $1,000, or both
Listing Agent - ANSWER: An employment contract between principal and agent,
authorizing the agent to perform services for the principalinvolving the latters
property
Pocket Card - ANSWER: Card issued by. the Dept of State to each licensee which
contains the photo, name and business address of the licensee, and in the case of
real estate salesperson, the name and business address of the broker with whom he
or she is associated and shall certify that the person whose name appears theron is a
licensed real estate broker or salesperson
fiduciary - ANSWER: person who on behalf of or for the benefit of another transacts
business or handles money or property not the persons own; such relationship
implies great confidence and trust
O.L.D.C.A.R
OBEDIENCE
LOYALTY
DISCLOSURE
CONFIDENTIALITY
ACCOUNTABILITY
REASONABLE CARE
disclosure regarding real estate agency relationship form - ANSWER: written
explanation, to be signed by prospective buyer or seller or real estate, explaining to
the client the role that the broker plays on the transaction.
*first document to be submitted to all prospective clients
, Exclusive Agency - ANSWER: agreement between broker and seller.....broker is the
exclusive agent but the owner can sell.... if sale is made by any other broker during
the term of contract broker is entitled to commissions
principal - ANSWER: the employer of an agent or broker
price fixing - ANSWER: an illegal practice whereby competitors conspire to set fixed
fees or prices
market allocation - ANSWER: an agreement among or between competing
businesses to divide up a market and refrain from competition in specific market
areas
independent contractor relationship - ANSWER: person that provides services to
another under terms specified in a contract or within a verbal agreement. is not an
employee
does not have to work in specific location. and broker can not control the agents
work activities
Bundle of Rights - ANSWER: An ownership concept describing all the legal rights that
attach to the ownership of real property. including the right to use/or occupy, the
right to sell in while or part, the right to lease, the right to bequeath, and the tight to
do none of the foregoing also includes the right to quiet enjoyment
certificate of occupancy - ANSWER: document issued by governmental authority that
a building is ready and fit for occupancy
Littoral Rights - ANSWER: rights of a landowner adjacent to a lake
Remember "L" - Littoral/Lake
stud - ANSWER: vertical framing member in frame wall construction
typically 12" 16" or 24 " on center
beam - ANSWER: horizontal structural member that supports a floor
typically wood, cold formed metal framing or steel
Riparian Rights - ANSWER: Unrestricted rights granted to owners of land located
along the course of a river
bearing wall - ANSWER: A wall that serves as a vertical support for loads other than
it's self-weight.
joists, beams, and roofs are typically supported by bearing walls
Specific Lien - ANSWER: One that attaches to a particular property.
Bond Beam - ANSWER: Concrete set in soil
EXAM COMPLETE 400 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT ANSWERS) /
ALREADY GRADED A+
Article 12-A - ANSWER: The section of the New York Real Property Law pertaining to
real estate salespersons and brokers.
sponsor - ANSWER: A licensed real estate broker that holds the license of a
salesperson
summary of your submission - ANSWER: Obtained after you regustsr for the NYS
Salesperson exam. must bring when take the NYS exam
Misdemeanor - ANSWER: crime punishable by up to one year in jail, a fine of less
than $1,000, or both
Listing Agent - ANSWER: An employment contract between principal and agent,
authorizing the agent to perform services for the principalinvolving the latters
property
Pocket Card - ANSWER: Card issued by. the Dept of State to each licensee which
contains the photo, name and business address of the licensee, and in the case of
real estate salesperson, the name and business address of the broker with whom he
or she is associated and shall certify that the person whose name appears theron is a
licensed real estate broker or salesperson
fiduciary - ANSWER: person who on behalf of or for the benefit of another transacts
business or handles money or property not the persons own; such relationship
implies great confidence and trust
O.L.D.C.A.R
OBEDIENCE
LOYALTY
DISCLOSURE
CONFIDENTIALITY
ACCOUNTABILITY
REASONABLE CARE
disclosure regarding real estate agency relationship form - ANSWER: written
explanation, to be signed by prospective buyer or seller or real estate, explaining to
the client the role that the broker plays on the transaction.
*first document to be submitted to all prospective clients
, Exclusive Agency - ANSWER: agreement between broker and seller.....broker is the
exclusive agent but the owner can sell.... if sale is made by any other broker during
the term of contract broker is entitled to commissions
principal - ANSWER: the employer of an agent or broker
price fixing - ANSWER: an illegal practice whereby competitors conspire to set fixed
fees or prices
market allocation - ANSWER: an agreement among or between competing
businesses to divide up a market and refrain from competition in specific market
areas
independent contractor relationship - ANSWER: person that provides services to
another under terms specified in a contract or within a verbal agreement. is not an
employee
does not have to work in specific location. and broker can not control the agents
work activities
Bundle of Rights - ANSWER: An ownership concept describing all the legal rights that
attach to the ownership of real property. including the right to use/or occupy, the
right to sell in while or part, the right to lease, the right to bequeath, and the tight to
do none of the foregoing also includes the right to quiet enjoyment
certificate of occupancy - ANSWER: document issued by governmental authority that
a building is ready and fit for occupancy
Littoral Rights - ANSWER: rights of a landowner adjacent to a lake
Remember "L" - Littoral/Lake
stud - ANSWER: vertical framing member in frame wall construction
typically 12" 16" or 24 " on center
beam - ANSWER: horizontal structural member that supports a floor
typically wood, cold formed metal framing or steel
Riparian Rights - ANSWER: Unrestricted rights granted to owners of land located
along the course of a river
bearing wall - ANSWER: A wall that serves as a vertical support for loads other than
it's self-weight.
joists, beams, and roofs are typically supported by bearing walls
Specific Lien - ANSWER: One that attaches to a particular property.
Bond Beam - ANSWER: Concrete set in soil
