P a g e |1 l l
REAL ESTATE U FINAL EXAM 2025| BRAND l l l l l l l
NEW ACTUAL EXAM WITH 100% VERIFIED l l l l l l
QUESTIONS AND CORRECT SOLUTIONS| G l l l l
UARANTEED VALUE PACK|ACE YOUR GRA l l l l l
DES.
NYS Department of Financial Services - correct answer -
l l l l l l l l
Registers andlicenses all companies and individuals who conduct mortgag
l l l l l l l l l l
e related services in New York.
l l l l l
Negative Amortization - correct answer - l l l l l
Occurs when the monthly payment is less than full interest and does not pay any
l l l l l l l l l l l l l l l
principal. The interest that is unpaid accrues and the principal balance owed inc
l l l l l l l l l l l l l
reases.
Prepayment Penalty Clause - correct answer - l l l l l l
States that the borrower canpay off the loan at any time before expiration of the fu
l l l l l l l l l l l l l l l l l
ll mortgage term without a financial penalty for early payoff.
l l l l l l l l l
Zoning - correct answer - l l l l
Determines the usage allowed for a building orsubdivision. Also determines t
l l l l l l l l l l l l
he 'bulk' of a house or a building, meaningthe maximum size of the structure (h
l l l l l l l l l l l l l l l
eight, square footage, size of floor plate).
l l l l l l
, P a g e |2 l l
Non-conforming use - correct answer - When pre- l l l l l l l
existing use of property ina zoned area is different from that specified zoning. Th
l l l l l l l l l l l l l l
e existing use is not as-of-right.
l l l l l
Zoning Board of Appeals - correct answer -
l l l l l l l
Local appointed board that hasthe power to review administrative rulings made
l l l l l l l l l l l l l
by the planning board or another legislative body. One main duty is to maintain th
l l l l l l l l l l l l l l
e essential character of the neighborhoods. Interpreter of the zoning ordinance.
l l l l l l l l l l l
The zoning board of appeals is also responsible for granting variances.
l l l l l l l l l l
Article 12-A of the NYS Real Property Law - correct answer - -
l l l l l l l l l l l l
The sectionof the New York Real Property Law pertaining to real estate salespe
l l l l l l l l l l l l l l
rsons and brokers. l l
- Primary purpose is to "Protect the Public" -l l l l l l l
Requires a salesperson to beat least 18 years of age
l l l l l l l l l l l
- Requires a broker to be at least 20 years of age l l l l l l l l l l
Sponsor - correct answer - - l l l l l
A licensed real estate broker that holds thelicense of a salesperson.
l l l l l l l l l l l l
"Summary of Your Submission" - correct answer - - l l l l l l l l
Obtained after youregister for the New York State
l l l l l l l l l
Salesperson exam using eAccessNY. You must bring your "Summary ofYour S l l l l l l l l l l l
ubmission" with l
you when taking the State exam.
l l l l l
, P a g e |3 l l
Misdemeanor - correct answer - - l l l l l
A crime punishable by up to a year inprison and/or a $1,000 fine.
l l l l l l l l l l l l l l
Listing Agreement - correct answer - -
l l l l l l
An employment contract betweenprincipal and agent, authorizing the
l l l l l l l l l
agent to perform services for the principle involving the latter's property
l l l l l l l l l l
Pocket Card - correct answer - - l l l l l l
A card issued by the Department of Stateto each licensee which contains the
l l l l l l l l l l l l l l
photo, name and business address of the licensee, and, in the case of areal es
l l l l l l l l l l l l l l l
tate
salesperson, the name and business address of the broker with whom heor she l l l l l l l l l l l l l l
is associated
l
and shall certify that the person whose name appears thereon is a licensedreal e
l l l l l l l l l l l l l l
state broker or l l
salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
l l l l l l l l l l l l l
Fiduciary - correct answer - - l l l l l
A person who on behalf of or for the benefit ofanother transacts business or
l l l l l l l l l l l l l l l
handles money or property not the person's own; such relationship impliesgrea
l l l l l l l l l l l
t confidence and
l l
trust.
, P a g e |4
l l
OLD CAR - correct answer - - Obedience
l l l l l l l
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care l
Obedience - correct answer - - l l l l l
Agent must act in accordance to clientsdemands/instructions.
l l l l l l l l
Loyalty - correct answer - - Agent must work in the best interest of theclient.
l l l l l l l l l l l l l l l
Disclosure of Information - correct answer - -
l l l l l l l
Agent must communicate withclient/must present all offers.
l l l l l l l l
Confidentiality - correct answer - - l l l l l
All confidential information as describedby client must remain so unless given
l l l l l l l l l l l l l
permission in writing. l l
Accountability - correct answer - - l l l l l
One of the more serious fiduciaryresponsibilities.
l l l l l l l
REAL ESTATE U FINAL EXAM 2025| BRAND l l l l l l l
NEW ACTUAL EXAM WITH 100% VERIFIED l l l l l l
QUESTIONS AND CORRECT SOLUTIONS| G l l l l
UARANTEED VALUE PACK|ACE YOUR GRA l l l l l
DES.
NYS Department of Financial Services - correct answer -
l l l l l l l l
Registers andlicenses all companies and individuals who conduct mortgag
l l l l l l l l l l
e related services in New York.
l l l l l
Negative Amortization - correct answer - l l l l l
Occurs when the monthly payment is less than full interest and does not pay any
l l l l l l l l l l l l l l l
principal. The interest that is unpaid accrues and the principal balance owed inc
l l l l l l l l l l l l l
reases.
Prepayment Penalty Clause - correct answer - l l l l l l
States that the borrower canpay off the loan at any time before expiration of the fu
l l l l l l l l l l l l l l l l l
ll mortgage term without a financial penalty for early payoff.
l l l l l l l l l
Zoning - correct answer - l l l l
Determines the usage allowed for a building orsubdivision. Also determines t
l l l l l l l l l l l l
he 'bulk' of a house or a building, meaningthe maximum size of the structure (h
l l l l l l l l l l l l l l l
eight, square footage, size of floor plate).
l l l l l l
, P a g e |2 l l
Non-conforming use - correct answer - When pre- l l l l l l l
existing use of property ina zoned area is different from that specified zoning. Th
l l l l l l l l l l l l l l
e existing use is not as-of-right.
l l l l l
Zoning Board of Appeals - correct answer -
l l l l l l l
Local appointed board that hasthe power to review administrative rulings made
l l l l l l l l l l l l l
by the planning board or another legislative body. One main duty is to maintain th
l l l l l l l l l l l l l l
e essential character of the neighborhoods. Interpreter of the zoning ordinance.
l l l l l l l l l l l
The zoning board of appeals is also responsible for granting variances.
l l l l l l l l l l
Article 12-A of the NYS Real Property Law - correct answer - -
l l l l l l l l l l l l
The sectionof the New York Real Property Law pertaining to real estate salespe
l l l l l l l l l l l l l l
rsons and brokers. l l
- Primary purpose is to "Protect the Public" -l l l l l l l
Requires a salesperson to beat least 18 years of age
l l l l l l l l l l l
- Requires a broker to be at least 20 years of age l l l l l l l l l l
Sponsor - correct answer - - l l l l l
A licensed real estate broker that holds thelicense of a salesperson.
l l l l l l l l l l l l
"Summary of Your Submission" - correct answer - - l l l l l l l l
Obtained after youregister for the New York State
l l l l l l l l l
Salesperson exam using eAccessNY. You must bring your "Summary ofYour S l l l l l l l l l l l
ubmission" with l
you when taking the State exam.
l l l l l
, P a g e |3 l l
Misdemeanor - correct answer - - l l l l l
A crime punishable by up to a year inprison and/or a $1,000 fine.
l l l l l l l l l l l l l l
Listing Agreement - correct answer - -
l l l l l l
An employment contract betweenprincipal and agent, authorizing the
l l l l l l l l l
agent to perform services for the principle involving the latter's property
l l l l l l l l l l
Pocket Card - correct answer - - l l l l l l
A card issued by the Department of Stateto each licensee which contains the
l l l l l l l l l l l l l l
photo, name and business address of the licensee, and, in the case of areal es
l l l l l l l l l l l l l l l
tate
salesperson, the name and business address of the broker with whom heor she l l l l l l l l l l l l l l
is associated
l
and shall certify that the person whose name appears thereon is a licensedreal e
l l l l l l l l l l l l l l
state broker or l l
salesperson.
- Must be carried by the agent at all times when serving as a salesperson.
l l l l l l l l l l l l l
Fiduciary - correct answer - - l l l l l
A person who on behalf of or for the benefit ofanother transacts business or
l l l l l l l l l l l l l l l
handles money or property not the person's own; such relationship impliesgrea
l l l l l l l l l l l
t confidence and
l l
trust.
, P a g e |4
l l
OLD CAR - correct answer - - Obedience
l l l l l l l
- Loyalty
- Disclosure
- Confidentiality
- Accountability
- Reasonable Care l
Obedience - correct answer - - l l l l l
Agent must act in accordance to clientsdemands/instructions.
l l l l l l l l
Loyalty - correct answer - - Agent must work in the best interest of theclient.
l l l l l l l l l l l l l l l
Disclosure of Information - correct answer - -
l l l l l l l
Agent must communicate withclient/must present all offers.
l l l l l l l l
Confidentiality - correct answer - - l l l l l
All confidential information as describedby client must remain so unless given
l l l l l l l l l l l l l
permission in writing. l l
Accountability - correct answer - - l l l l l
One of the more serious fiduciaryresponsibilities.
l l l l l l l
