NYS REAL ESTATE EXAM QUESTIONS AND ANSWERS .Buy
Quality Materials
Easement in gross
What type of easement is commonly used by utility companies?
Easement by necessity
Easement by condemnation
Easement in gross
Easement by prescription
Administrator
The person appointed by a court to distribute the intestate decedent's property is known
as a/an...?
Administrator
Executor
Dower
Curtsey
The original tenant
In a sub-lease, who is responsible for paying rent to the landlord?
The new tenant
The original tenant
Both tenants
Neither tenants
Legal description of the property
Under which section of a deed will the property's address be listed?
Habendum clause
Legal description of the property
Granting clause
Subject-to clause
Purchase money mortgage
In which of the following loan types does the seller become the mortgagee?
Graduated payment mortgage
Term loan
Blanket mortgage
Purchase money mortgage
Mortgagor
Which of the following parties gives a mortgage?
Mortgagor
Grantor
Mortgagee
Grantee
Secondary
Loans created by commercial banks are bought and sold in the ........... mortgage
market.
Primary
Secondary
,Institutional
Real estate
Zoning Board of Appeals
If a property owner needs to obtain a variance on their property, which of the following
should they apply to...?
Zoning Board of Appeals
Department of Buildings
Department of Finance
Architectural Planning Board
Sill plate
Which of the following construction elements sits on top of the foundation of a wood-
framed house?
Sill plate
Base plate
Header plate
Column
Pitch
The slope of a roof is also referred to as the...?
Eave
Soffit
Pitch
Fascia
Eave
The lowest part of a roof, which projects beyond the wall of the structure is known as
a/an...?
Soffit
Flashing
Eave
Fascia
Asbestos
Which of the following is a friable, naturally occurring mineral fiber material sometimes
found in insulation in older homes?
Asbestos
Lead
UFFI
PCBs
Civil Rights Act of 1968
The Fair Housing Act was enacted as part of what federal legislation?
Civil Rights Act of 1866
Civil Rights Act of 1964
Civil Rights Act of 1968
Housing and Community Development Act of 1974
A real estate salesperson working under a sponsoring broker
Which of the following individuals is required to file a Form 1099-MISC with the IRS?
A real estate salesperson working under a sponsoring broker
A real estate assistant who earns a salary
, A real estate office manager who earns a salary
Everyone working in a broker's office must file a 1099-MISC
FEMA
Which of the following federal agencies helps homeowners obtain flood insurance?
FEMA
FDIC
HUD
FNMA
Commercial general liability
Which of the following insurance policies may be purchased by landlords for their rental
properties?
Commercial general liability
HO-4
Worker's compensation
HO-6
By-laws
Which of the following describes the rights and obligations of owners for a
condominium?
By-laws
House rules
CPS-1
Declaration
Net lease
Which of the following types of leases will most likely be used when leasing an
unoccupied office building?
Gross lease
Net lease
Ground lease
Percentage lease
Loft lease
What type of lease is typically used for an open, unfinished commercial space?
Gross lease
Net lease
Land lease
Loft lease
Net operating income
The cash flow from a commercial property (before paying any debt service) is known
as...?
Effective gross income
Gross income
Net operating income
After tax cash flow
Agency by estoppel
This type of agency is created when a principal does not stop an individual from
representing his or her interests?
Agency by estoppel
Quality Materials
Easement in gross
What type of easement is commonly used by utility companies?
Easement by necessity
Easement by condemnation
Easement in gross
Easement by prescription
Administrator
The person appointed by a court to distribute the intestate decedent's property is known
as a/an...?
Administrator
Executor
Dower
Curtsey
The original tenant
In a sub-lease, who is responsible for paying rent to the landlord?
The new tenant
The original tenant
Both tenants
Neither tenants
Legal description of the property
Under which section of a deed will the property's address be listed?
Habendum clause
Legal description of the property
Granting clause
Subject-to clause
Purchase money mortgage
In which of the following loan types does the seller become the mortgagee?
Graduated payment mortgage
Term loan
Blanket mortgage
Purchase money mortgage
Mortgagor
Which of the following parties gives a mortgage?
Mortgagor
Grantor
Mortgagee
Grantee
Secondary
Loans created by commercial banks are bought and sold in the ........... mortgage
market.
Primary
Secondary
,Institutional
Real estate
Zoning Board of Appeals
If a property owner needs to obtain a variance on their property, which of the following
should they apply to...?
Zoning Board of Appeals
Department of Buildings
Department of Finance
Architectural Planning Board
Sill plate
Which of the following construction elements sits on top of the foundation of a wood-
framed house?
Sill plate
Base plate
Header plate
Column
Pitch
The slope of a roof is also referred to as the...?
Eave
Soffit
Pitch
Fascia
Eave
The lowest part of a roof, which projects beyond the wall of the structure is known as
a/an...?
Soffit
Flashing
Eave
Fascia
Asbestos
Which of the following is a friable, naturally occurring mineral fiber material sometimes
found in insulation in older homes?
Asbestos
Lead
UFFI
PCBs
Civil Rights Act of 1968
The Fair Housing Act was enacted as part of what federal legislation?
Civil Rights Act of 1866
Civil Rights Act of 1964
Civil Rights Act of 1968
Housing and Community Development Act of 1974
A real estate salesperson working under a sponsoring broker
Which of the following individuals is required to file a Form 1099-MISC with the IRS?
A real estate salesperson working under a sponsoring broker
A real estate assistant who earns a salary
, A real estate office manager who earns a salary
Everyone working in a broker's office must file a 1099-MISC
FEMA
Which of the following federal agencies helps homeowners obtain flood insurance?
FEMA
FDIC
HUD
FNMA
Commercial general liability
Which of the following insurance policies may be purchased by landlords for their rental
properties?
Commercial general liability
HO-4
Worker's compensation
HO-6
By-laws
Which of the following describes the rights and obligations of owners for a
condominium?
By-laws
House rules
CPS-1
Declaration
Net lease
Which of the following types of leases will most likely be used when leasing an
unoccupied office building?
Gross lease
Net lease
Ground lease
Percentage lease
Loft lease
What type of lease is typically used for an open, unfinished commercial space?
Gross lease
Net lease
Land lease
Loft lease
Net operating income
The cash flow from a commercial property (before paying any debt service) is known
as...?
Effective gross income
Gross income
Net operating income
After tax cash flow
Agency by estoppel
This type of agency is created when a principal does not stop an individual from
representing his or her interests?
Agency by estoppel
