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NEW YORK REAL ESTATE EXAM /NY REAL ESTATE
2025 NEWEST EXAM VERSION A, B AND PRACTICE
QUESTIONS EXAM 400 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT) /ALREADY
GRADED A
Where is the license law written? .....ANSWER.....Article 12-A
Who is responsible for administrative discipline of real estate
licensees? .....ANSWER.....Department of State or Secretary of
State
Under NYS Real Property Law, when Department of State
revokes a salesperson's license, how much time must past before
the salesperson can be relicensed? .....ANSWER.....One year
If a broker's licensed is revoked, what happens to the
salesperson's who work under him/her? .....ANSWER.....Their
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licenses are suspended until they find another broker to supervise
them/work under.
What could happen to somebody who breaks Article 12-A?
.....ANSWER.....Lose their license, fined $1,000, a year in jail.
Is a violation of 12-A a misdemeanor or a felony?
.....ANSWER.....A misdemeanor
What dollar amount of capital gains is tax-exempt for a single
person? .....ANSWER.....$250,000
If a married couple sells their house for a profit of $300,000, on
what amount of capital gains do they pay tax?
.....ANSWER.....They only pay if the profit is over $500,000
If a married couple bought a house for $50,000 and sold it for
$400,000, what amount do they pay in capital gains tax?
.....ANSWER.....They don't pay any capital gains.
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If a seller fails to deliver a property condition disclosure
statement before the buyer signs the contract of sale, how much
credit does the buyer receive? .....ANSWER.....$500
Which properties do not need a property condition disclosure
statement? .....ANSWER.....Residential new constructions,
foreclosures, condos and co-ops
When does a seller have to deliver a property condition
statement to the buyer? .....ANSWER.....Before the buyer signs the
sales contract.
What liquid carcinogen can get into water or soil?
.....ANSWER.....PCBs (poly-chlorinated bhiphenyls)
What substance depletes the ozone layer? .....ANSWER.....CFCs
(Chlor-fluor-carbons)
What federal law curtailed use of CFCs? .....ANSWER.....Clean
Air Act
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What gas that leaks out of air conditioners is covered by Clean
Air Act? .....ANSWER.....CFCs
What is Freon? .....ANSWER.....A brand that used to contain CFCs
but no longer does. It's a cooling agent in older air conditioners
What type of UST (underground storage tank) is not regulated?
.....ANSWER.....Any tank under 1100 gallons that holds gas or
diesel are not regulated.
What NYS Dept. regulates USTs? .....ANSWER.....NYS Dept. of
Environmental Conservation
What kind of insulation has cancer-causing substance in it?
.....ANSWER.....UFFI, a kind of insulation sprayed into the wall
that contains formaldehyde.
What info must a real estate ad tell? .....ANSWER.....Must
provide the name of the real estate broker or brokerage and
either the full address of broker or the phone number, and the
specific location of the property.
NEW YORK REAL ESTATE EXAM /NY REAL ESTATE
2025 NEWEST EXAM VERSION A, B AND PRACTICE
QUESTIONS EXAM 400 QUESTIONS WITH DETAILED
VERIFIED ANSWERS (100% CORRECT) /ALREADY
GRADED A
Where is the license law written? .....ANSWER.....Article 12-A
Who is responsible for administrative discipline of real estate
licensees? .....ANSWER.....Department of State or Secretary of
State
Under NYS Real Property Law, when Department of State
revokes a salesperson's license, how much time must past before
the salesperson can be relicensed? .....ANSWER.....One year
If a broker's licensed is revoked, what happens to the
salesperson's who work under him/her? .....ANSWER.....Their
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licenses are suspended until they find another broker to supervise
them/work under.
What could happen to somebody who breaks Article 12-A?
.....ANSWER.....Lose their license, fined $1,000, a year in jail.
Is a violation of 12-A a misdemeanor or a felony?
.....ANSWER.....A misdemeanor
What dollar amount of capital gains is tax-exempt for a single
person? .....ANSWER.....$250,000
If a married couple sells their house for a profit of $300,000, on
what amount of capital gains do they pay tax?
.....ANSWER.....They only pay if the profit is over $500,000
If a married couple bought a house for $50,000 and sold it for
$400,000, what amount do they pay in capital gains tax?
.....ANSWER.....They don't pay any capital gains.
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If a seller fails to deliver a property condition disclosure
statement before the buyer signs the contract of sale, how much
credit does the buyer receive? .....ANSWER.....$500
Which properties do not need a property condition disclosure
statement? .....ANSWER.....Residential new constructions,
foreclosures, condos and co-ops
When does a seller have to deliver a property condition
statement to the buyer? .....ANSWER.....Before the buyer signs the
sales contract.
What liquid carcinogen can get into water or soil?
.....ANSWER.....PCBs (poly-chlorinated bhiphenyls)
What substance depletes the ozone layer? .....ANSWER.....CFCs
(Chlor-fluor-carbons)
What federal law curtailed use of CFCs? .....ANSWER.....Clean
Air Act
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What gas that leaks out of air conditioners is covered by Clean
Air Act? .....ANSWER.....CFCs
What is Freon? .....ANSWER.....A brand that used to contain CFCs
but no longer does. It's a cooling agent in older air conditioners
What type of UST (underground storage tank) is not regulated?
.....ANSWER.....Any tank under 1100 gallons that holds gas or
diesel are not regulated.
What NYS Dept. regulates USTs? .....ANSWER.....NYS Dept. of
Environmental Conservation
What kind of insulation has cancer-causing substance in it?
.....ANSWER.....UFFI, a kind of insulation sprayed into the wall
that contains formaldehyde.
What info must a real estate ad tell? .....ANSWER.....Must
provide the name of the real estate broker or brokerage and
either the full address of broker or the phone number, and the
specific location of the property.
