Real Estate Exam Prep Questions And
Answers 2026/2027 Latest Update.
The STAR program provides a partial exemption to NYS homeowners for:
A. school district taxes
B. special assessment taxes
C. county property taxes
D. capital gains taxes - correct answers--school district taxes
A licensee attempts to get listings by telling homeowners in a neighborhood that their
property values will decline when a group of immigrants move in. The licensee could be
found guilty of
A. Blockbusting
B. Steering
C. Boycotting
D. Redlining - correct answers--Blockbusting
A seller client has vicarious liability for each of these EXCEPT a
A. Subagent
B. Broker's agent
C. Listing agent
D. Dual agent - correct answers--Broker's agent
When a licensee is the client's designated agent, the client gives up the agent's duty
A. Obedience
B. Undivided loyalty
C. Reasonable care
D. Advocacy in negotiating - correct answers--Undivided Loyalty
,Real Estate Exam Prep Questions And
Answers 2026/2027 Latest Update.
An agent owes all of these duties to a customer EXCEPT
A. Fair dealing.
B. Loyalty.
C. Disclosure of material facts.
D. Honesty. - correct answers--Fair dealing.
Fred has missed two mortgage payments. What clause would allow his lender to
demand that he pay the entire balance now?
A. acceleration clause
B. foreclosure clause
C. escalation clause
D. alienation clause - correct answers--acceleration clause
Tony owns the barbershop he built 25 years ago on the same street as his family home.
The area was zoned residential 10 years ago. Why is the barbershop allowed to remain
open?
A. He receives incentive zoning.
B. The doctrine of laches applies since no one has complained about it.
C. He has an area variance.
D. It is a nonconforming use. - correct answers--It is a nonconforming use.
Which federal environmental law, known as the Superfund, creates requirements for
closed and abandoned waste sites?
A. Clean Water Act
B. Resource Conservation and Recovery Act
C. Comprehensive Environmental Response, Compensation, and Liability Act
, Real Estate Exam Prep Questions And
Answers 2026/2027 Latest Update.
D. Safe Drinking Water Act - correct answers--Comprehensive Environmental
Response, Compensation, and Liability Act
Lyle bought a duplex for $200,000 and leases each apartment for $580 a month. The
land on which the duplex sits is valued at $30,000. How much can Lyle deduct from his
income tax each year for straight line depreciation (rounded to the nearest dollar)?
A. $5,128
B. $7,273
C. $6,182
D. $5,676 - correct answers--$200,000/27.5= $7,273
The tenant signs a two-month lease on an apartment ending September 1. What type of
leasehold estate does this represent?
A. estate at will
B. periodic estate
C. estate for years
D. tenancy at sufferance - correct answers--Estate for years
A mortgage loan originator can perform each of these activities EXCEPT
A. lend money.
B. solicit a loan.
C. process a loan.
D. negotiate a loan. - correct answers--lend money
After examining a property, an appraiser made the following notes: Replacement cost=
$465,000; Depreciation= $18,000; Site Value= $85,000. Determine the final estimate of
value using the cost approach.
Answers 2026/2027 Latest Update.
The STAR program provides a partial exemption to NYS homeowners for:
A. school district taxes
B. special assessment taxes
C. county property taxes
D. capital gains taxes - correct answers--school district taxes
A licensee attempts to get listings by telling homeowners in a neighborhood that their
property values will decline when a group of immigrants move in. The licensee could be
found guilty of
A. Blockbusting
B. Steering
C. Boycotting
D. Redlining - correct answers--Blockbusting
A seller client has vicarious liability for each of these EXCEPT a
A. Subagent
B. Broker's agent
C. Listing agent
D. Dual agent - correct answers--Broker's agent
When a licensee is the client's designated agent, the client gives up the agent's duty
A. Obedience
B. Undivided loyalty
C. Reasonable care
D. Advocacy in negotiating - correct answers--Undivided Loyalty
,Real Estate Exam Prep Questions And
Answers 2026/2027 Latest Update.
An agent owes all of these duties to a customer EXCEPT
A. Fair dealing.
B. Loyalty.
C. Disclosure of material facts.
D. Honesty. - correct answers--Fair dealing.
Fred has missed two mortgage payments. What clause would allow his lender to
demand that he pay the entire balance now?
A. acceleration clause
B. foreclosure clause
C. escalation clause
D. alienation clause - correct answers--acceleration clause
Tony owns the barbershop he built 25 years ago on the same street as his family home.
The area was zoned residential 10 years ago. Why is the barbershop allowed to remain
open?
A. He receives incentive zoning.
B. The doctrine of laches applies since no one has complained about it.
C. He has an area variance.
D. It is a nonconforming use. - correct answers--It is a nonconforming use.
Which federal environmental law, known as the Superfund, creates requirements for
closed and abandoned waste sites?
A. Clean Water Act
B. Resource Conservation and Recovery Act
C. Comprehensive Environmental Response, Compensation, and Liability Act
, Real Estate Exam Prep Questions And
Answers 2026/2027 Latest Update.
D. Safe Drinking Water Act - correct answers--Comprehensive Environmental
Response, Compensation, and Liability Act
Lyle bought a duplex for $200,000 and leases each apartment for $580 a month. The
land on which the duplex sits is valued at $30,000. How much can Lyle deduct from his
income tax each year for straight line depreciation (rounded to the nearest dollar)?
A. $5,128
B. $7,273
C. $6,182
D. $5,676 - correct answers--$200,000/27.5= $7,273
The tenant signs a two-month lease on an apartment ending September 1. What type of
leasehold estate does this represent?
A. estate at will
B. periodic estate
C. estate for years
D. tenancy at sufferance - correct answers--Estate for years
A mortgage loan originator can perform each of these activities EXCEPT
A. lend money.
B. solicit a loan.
C. process a loan.
D. negotiate a loan. - correct answers--lend money
After examining a property, an appraiser made the following notes: Replacement cost=
$465,000; Depreciation= $18,000; Site Value= $85,000. Determine the final estimate of
value using the cost approach.
