REVIEW QUESTIONS FOR NY REAL ESTATE
EXAM Latest Update 2025-2026 100 Questions
and 100% Verified Correct Answers Guaranteed
A+
-A broker signed a listing agreement with the Ghent's to market their luxury downtown
condominium. A few days later, the broker Signed a buyer representation agreement
with The Smiths, who were looking for a modest suburban single-family home. If the
buyers decide they're in the market for a luxury downtown condominium instead, and
want to see the Ghent's property, what should the broker do?
a. Say nothing and collect a commission from
the sellers and a fee from the buyers
b. Disclose the intended dual agency and
obtain both parties written consent
c. Withdraw from representing one of the
Parties to avoid any appearance of self-dealing
d. Nothing, but accept compensation from
Only one of the parties - CORRECT ANSWER: B: In New York dual agency is legal and
permissible with timely and informed consent of both parties. In this case the agent
must have the signed disclosure from both parties.
-A legally enforceable agreement between competent parties in which each party
acquires a right is called a
a. Certiorari.
,b. Consideration.
c. Contract.
d. Clause. - CORRECT ANSWER: C: A contract is an agreement between competent
legal parties to do or refrain from doing some legal act in exchange for consideration.
-A real estate salesperson's compensation is set by
a. The local realty association.
b. The Department of State, Division of Licensing Services.
c. Agreement between broker and salesperson.
d. The cooperating broker in a transaction. - CORRECT ANSWER: C: The fee or rate of
commission paid to a real estate broker is strictly negotiable between the broker and the
seller or buyer.
-A tenant learns her building has been sold to a new landlord. The sale of the property
a. Automatically terminates all preexisting leases.
b. Automatically renews the lease for an additional term, although the tenant has the
option of declining the renewal.
c. has no effect on existing leases, and the tenant must make timely rent payments to
the new owner.
d. terminates the lease, but the tenant is entitled to a legal holdover tenancy for the
remainder of the lease term. - CORRECT ANSWER: C: Lease agreement does not
terminate when an owner sells, new owner is bound by terms of lease
-Charging more than the legal interest rate is Known as
a. points
b. usury
,c. discounting
d. novation - CORRECT ANSWER: B: USURY LAWS are used by New York State to fix
a maximum allowable interest rate.
-Deed restrictions may be established only by the
a. Grantor.
b. Local government.
c. Zoning board of appeals.
d. Grantee. - CORRECT ANSWER: A: Deed restrictions are in the form of covenants or
conditions. These restrictions run with the land, they are put by the "grantor"
-In a real estate transaction, a broker had a written representation agreement with the
buyer but was paid 6 percent of the selling price at the closing by the seller. Under these
facts, whose agent was this broker?
a. The broker was the seller's agent.
b. The broker was the buyer's agent.
c. The broker is a dual agent.
d. The broker has violated New York's real Estate license laws and may have his or her
License suspended or revoked. - CORRECT ANSWER: B: Other means of payment can
be through multiple listing services when the listing broker offers cooperating
compensation to the buyer broker. The buyer broker will then be paid by the seller
-In which clause in a deed would you find metes and bounds and monuments?
a. Demising
b. Defeasance
c. Description
, d. Habendum - CORRECT ANSWER: C: The types of legal descriptions are
metes&bounds, block&lot, and monuments
-New York State law goes beyond federal human rights law when it forbids
discrimination based on
a. race.
b. Marital status.
c. Religion.
d. Children in a family. - CORRECT ANSWER: B: New York State Helping to fight
discrimination on the basis of...
Marital Status
-One future action that may NOT be limited by a deed restriction is
a. The free transfer of the property.
b. The illegal covenant against religion. or
Nationality.
c. Further subdivision.
d. The total number of lots in a subdivision. - CORRECT ANSWER: B: An illegal
covenant cannot be enforced [e.g. excluding people of certain religion, or color.
-The most commonly used insulation material is
a. rock wool.
EXAM Latest Update 2025-2026 100 Questions
and 100% Verified Correct Answers Guaranteed
A+
-A broker signed a listing agreement with the Ghent's to market their luxury downtown
condominium. A few days later, the broker Signed a buyer representation agreement
with The Smiths, who were looking for a modest suburban single-family home. If the
buyers decide they're in the market for a luxury downtown condominium instead, and
want to see the Ghent's property, what should the broker do?
a. Say nothing and collect a commission from
the sellers and a fee from the buyers
b. Disclose the intended dual agency and
obtain both parties written consent
c. Withdraw from representing one of the
Parties to avoid any appearance of self-dealing
d. Nothing, but accept compensation from
Only one of the parties - CORRECT ANSWER: B: In New York dual agency is legal and
permissible with timely and informed consent of both parties. In this case the agent
must have the signed disclosure from both parties.
-A legally enforceable agreement between competent parties in which each party
acquires a right is called a
a. Certiorari.
,b. Consideration.
c. Contract.
d. Clause. - CORRECT ANSWER: C: A contract is an agreement between competent
legal parties to do or refrain from doing some legal act in exchange for consideration.
-A real estate salesperson's compensation is set by
a. The local realty association.
b. The Department of State, Division of Licensing Services.
c. Agreement between broker and salesperson.
d. The cooperating broker in a transaction. - CORRECT ANSWER: C: The fee or rate of
commission paid to a real estate broker is strictly negotiable between the broker and the
seller or buyer.
-A tenant learns her building has been sold to a new landlord. The sale of the property
a. Automatically terminates all preexisting leases.
b. Automatically renews the lease for an additional term, although the tenant has the
option of declining the renewal.
c. has no effect on existing leases, and the tenant must make timely rent payments to
the new owner.
d. terminates the lease, but the tenant is entitled to a legal holdover tenancy for the
remainder of the lease term. - CORRECT ANSWER: C: Lease agreement does not
terminate when an owner sells, new owner is bound by terms of lease
-Charging more than the legal interest rate is Known as
a. points
b. usury
,c. discounting
d. novation - CORRECT ANSWER: B: USURY LAWS are used by New York State to fix
a maximum allowable interest rate.
-Deed restrictions may be established only by the
a. Grantor.
b. Local government.
c. Zoning board of appeals.
d. Grantee. - CORRECT ANSWER: A: Deed restrictions are in the form of covenants or
conditions. These restrictions run with the land, they are put by the "grantor"
-In a real estate transaction, a broker had a written representation agreement with the
buyer but was paid 6 percent of the selling price at the closing by the seller. Under these
facts, whose agent was this broker?
a. The broker was the seller's agent.
b. The broker was the buyer's agent.
c. The broker is a dual agent.
d. The broker has violated New York's real Estate license laws and may have his or her
License suspended or revoked. - CORRECT ANSWER: B: Other means of payment can
be through multiple listing services when the listing broker offers cooperating
compensation to the buyer broker. The buyer broker will then be paid by the seller
-In which clause in a deed would you find metes and bounds and monuments?
a. Demising
b. Defeasance
c. Description
, d. Habendum - CORRECT ANSWER: C: The types of legal descriptions are
metes&bounds, block&lot, and monuments
-New York State law goes beyond federal human rights law when it forbids
discrimination based on
a. race.
b. Marital status.
c. Religion.
d. Children in a family. - CORRECT ANSWER: B: New York State Helping to fight
discrimination on the basis of...
Marital Status
-One future action that may NOT be limited by a deed restriction is
a. The free transfer of the property.
b. The illegal covenant against religion. or
Nationality.
c. Further subdivision.
d. The total number of lots in a subdivision. - CORRECT ANSWER: B: An illegal
covenant cannot be enforced [e.g. excluding people of certain religion, or color.
-The most commonly used insulation material is
a. rock wool.
