Page 1 of 58
NY REAL ESTATE 2025/2026 EXAM COMPLETE
CURRENT TESTING QUESTION AND DETAILED
CORRECT ANSWER (VERIFIED)/GUARANTEED PASS
TOP-RATED A+.
REAL ESTATE
Ace your New York Real Estate Salesperson exam with
this state-specific guide, designed to master NY property
law, agency relationships, and contract procedures. This
resource delivers scenario-based practice questions and
clear explanations covering licensing requirements, fair
housing, and real estate mathematics.
What is the amount of the surety bond that a mortgage
broker must furnish when applying for licensure in New
York? ...... ANSWER ....... $10,000
Real estate agents are typically what kind of agent? ......
ANSWER ....... Special Agent
Broker Jim signs a listing agreement with seller Grace and a
buyer agency with buyer Pat. Both Grace and Pat signed
written disclosure statements agreeing to this arrangement.
, Page 2 of 58
What is this relationship called? ...... ANSWER .......
Consensual dual agency
In which of these cities is the Board not required to hold a
public hearing each year? ...... ANSWER .......
Rochester
What is the most common reason a property fails to sell?
...... ANSWER ....... Overpricing
Which statement is true about investing in commercial
property? ...... ANSWER ....... A commercial property
could have a percentage lease
Which of the following is considered a fixed operating
expense? ...... ANSWER ....... Insurance premiums
Which property would most likely have the longest lease
term? ...... ANSWER ....... Industrial property
, Page 3 of 58
What is the amount a buyer owes at closing equal to? ......
ANSWER ....... The excess of the buyer's debits over the
buyer's credits
What is required for a title to be marketable? ...... ANSWER
....... It must be free of undisclosed defects and
encumbrances
Which of these is a distinguishing feature of a deed
condition? ...... ANSWER ....... It gives the grantor the
right to re-possess the property if the grantee violates the
condition
What must a listing agent do before entering into a
cooperative agreement creating a subagency? ......
ANSWER ....... Obtain the informed consent of the
seller
A daycare center is allowed to open in a residentially-zoned
area. What is this an example of? ...... ANSWER ....... A
special use permit
, Page 4 of 58
Which of the following is an allowed activity for an
unlicensed assistant? ...... ANSWER ....... Get status
reports on the loan progress
According to Truth in Lending, a lender must disclose all of
the following except which one? ...... ANSWER .......
Broker's commission (must disclose service charges,
points, loan origination fee)
The first fine for a violation of federal fait housing law could
be as much as what amount? ...... ANSWER .......
$10,000
"Everyone charges the same amount so you might as well
list with me" is an example of what? ...... ANSWER .......
Price fixing
A court renders a judgement which authorizes a lien to be
placed against the defendant's house, car, and personal
belongings. What is this an example of? ...... ANSWER .......
General judgment lien
NY REAL ESTATE 2025/2026 EXAM COMPLETE
CURRENT TESTING QUESTION AND DETAILED
CORRECT ANSWER (VERIFIED)/GUARANTEED PASS
TOP-RATED A+.
REAL ESTATE
Ace your New York Real Estate Salesperson exam with
this state-specific guide, designed to master NY property
law, agency relationships, and contract procedures. This
resource delivers scenario-based practice questions and
clear explanations covering licensing requirements, fair
housing, and real estate mathematics.
What is the amount of the surety bond that a mortgage
broker must furnish when applying for licensure in New
York? ...... ANSWER ....... $10,000
Real estate agents are typically what kind of agent? ......
ANSWER ....... Special Agent
Broker Jim signs a listing agreement with seller Grace and a
buyer agency with buyer Pat. Both Grace and Pat signed
written disclosure statements agreeing to this arrangement.
, Page 2 of 58
What is this relationship called? ...... ANSWER .......
Consensual dual agency
In which of these cities is the Board not required to hold a
public hearing each year? ...... ANSWER .......
Rochester
What is the most common reason a property fails to sell?
...... ANSWER ....... Overpricing
Which statement is true about investing in commercial
property? ...... ANSWER ....... A commercial property
could have a percentage lease
Which of the following is considered a fixed operating
expense? ...... ANSWER ....... Insurance premiums
Which property would most likely have the longest lease
term? ...... ANSWER ....... Industrial property
, Page 3 of 58
What is the amount a buyer owes at closing equal to? ......
ANSWER ....... The excess of the buyer's debits over the
buyer's credits
What is required for a title to be marketable? ...... ANSWER
....... It must be free of undisclosed defects and
encumbrances
Which of these is a distinguishing feature of a deed
condition? ...... ANSWER ....... It gives the grantor the
right to re-possess the property if the grantee violates the
condition
What must a listing agent do before entering into a
cooperative agreement creating a subagency? ......
ANSWER ....... Obtain the informed consent of the
seller
A daycare center is allowed to open in a residentially-zoned
area. What is this an example of? ...... ANSWER ....... A
special use permit
, Page 4 of 58
Which of the following is an allowed activity for an
unlicensed assistant? ...... ANSWER ....... Get status
reports on the loan progress
According to Truth in Lending, a lender must disclose all of
the following except which one? ...... ANSWER .......
Broker's commission (must disclose service charges,
points, loan origination fee)
The first fine for a violation of federal fait housing law could
be as much as what amount? ...... ANSWER .......
$10,000
"Everyone charges the same amount so you might as well
list with me" is an example of what? ...... ANSWER .......
Price fixing
A court renders a judgement which authorizes a lien to be
placed against the defendant's house, car, and personal
belongings. What is this an example of? ...... ANSWER .......
General judgment lien
