1|Page
New York Real Estate Exam|| LATEST 2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS||VERIFIED EXAM!!! (100%
VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||NEWEST!!!||
The listing agent with an exclusive agency listing is not
entitled to commission when listing is sold by? - ANSWER-
seller
The IRS will not challenge the independent contractor
status of a real estate salesperson as long as the sales
person? - ANSWER-Has income based solely on sales
output
The Duncan and hail decision recommended that New
York State brokers and sales persons who prepare
purchase and sales contracts protect themselves against?
- ANSWER-Charges of unauthorized practices of law
On a fixed-rate, 30-year mortgage loan, the amount of
interest included in each payment - ANSWER-decreases
over the life of the loan
,2|Page
In New York, any conventional loan with a down payment
below 20% must be accompanied by? - ANSWER-Private
mortgage insurance
Which term correctly reflects the amount of prepaid
interest required by the lender, at closing of a mortgage
loan? - ANSWER-points
The bundle of legal rights include? - ANSWER-
Possession, control, enjoyment, exclusion, disposition
The term land includes? - ANSWER-trees
Four people hold title to a small hotel as tenants in
common. The owners? - ANSWER-May sell their
individual interest without consent of the others
The ability to turn an asset into cash is referred to as? -
ANSWER-liquidity
A life estate? - ANSWER-Is limited to the life of a specific
person
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A financial claim against real estate that provides security
for a debt or obligation of the owner is called? - ANSWER-
lien
A driveway that illegally extends beyond the land of the
owner is called? - ANSWER-an encroachment
The purpose of filing lis pendens is to - ANSWER-Give
notice that there is a cloud on the title
Which would be considered a legal description of land? -
ANSWER-Description of a lot from a recorded subdivision
plat
Which statement is true about Grantor and grantees? -
ANSWER-The grantor has the legal capacity to execute
the deed to an identifiable grantee
Something of value given in exchange for property is
called? - ANSWER-Consideration
Investors in an investment properties, give consideration
to the tax world, which involves the tax consequences
resulting from A properties? - ANSWER-Income operations
, 4|Page
Net operating income for an investment property is defined
as the cash flow attributable to the property after
deducting all property related operational expenses, which
includes? - ANSWER-property insurance
The difference between a net lease and a gross lease is? -
ANSWER-In a gross lease, the tenant pays a fixed rent
while the landlord is responsible for property charges, and
in a net lease, the tenant usually pays for some or all of
the property charges as well
The potential receipt for a properties rental activity if the
property were 100% leased referred to as? - ANSWER-
Potential gross income
The effective gross income is calculated after the
properties potential gross income is reduced by it? -
ANSWER-Vacancy and collection losses
Which is considered a fixed expense for a commercial
property? - ANSWER-property taxes
New York Real Estate Exam|| LATEST 2026 ACTUAL
EXAM WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS||VERIFIED EXAM!!! (100%
VERIFIED ANSWERS) |ALREADY GRADED A+|
||PROFESSOR VERIFIED|| ||NEWEST!!!||
The listing agent with an exclusive agency listing is not
entitled to commission when listing is sold by? - ANSWER-
seller
The IRS will not challenge the independent contractor
status of a real estate salesperson as long as the sales
person? - ANSWER-Has income based solely on sales
output
The Duncan and hail decision recommended that New
York State brokers and sales persons who prepare
purchase and sales contracts protect themselves against?
- ANSWER-Charges of unauthorized practices of law
On a fixed-rate, 30-year mortgage loan, the amount of
interest included in each payment - ANSWER-decreases
over the life of the loan
,2|Page
In New York, any conventional loan with a down payment
below 20% must be accompanied by? - ANSWER-Private
mortgage insurance
Which term correctly reflects the amount of prepaid
interest required by the lender, at closing of a mortgage
loan? - ANSWER-points
The bundle of legal rights include? - ANSWER-
Possession, control, enjoyment, exclusion, disposition
The term land includes? - ANSWER-trees
Four people hold title to a small hotel as tenants in
common. The owners? - ANSWER-May sell their
individual interest without consent of the others
The ability to turn an asset into cash is referred to as? -
ANSWER-liquidity
A life estate? - ANSWER-Is limited to the life of a specific
person
,3|Page
A financial claim against real estate that provides security
for a debt or obligation of the owner is called? - ANSWER-
lien
A driveway that illegally extends beyond the land of the
owner is called? - ANSWER-an encroachment
The purpose of filing lis pendens is to - ANSWER-Give
notice that there is a cloud on the title
Which would be considered a legal description of land? -
ANSWER-Description of a lot from a recorded subdivision
plat
Which statement is true about Grantor and grantees? -
ANSWER-The grantor has the legal capacity to execute
the deed to an identifiable grantee
Something of value given in exchange for property is
called? - ANSWER-Consideration
Investors in an investment properties, give consideration
to the tax world, which involves the tax consequences
resulting from A properties? - ANSWER-Income operations
, 4|Page
Net operating income for an investment property is defined
as the cash flow attributable to the property after
deducting all property related operational expenses, which
includes? - ANSWER-property insurance
The difference between a net lease and a gross lease is? -
ANSWER-In a gross lease, the tenant pays a fixed rent
while the landlord is responsible for property charges, and
in a net lease, the tenant usually pays for some or all of
the property charges as well
The potential receipt for a properties rental activity if the
property were 100% leased referred to as? - ANSWER-
Potential gross income
The effective gross income is calculated after the
properties potential gross income is reduced by it? -
ANSWER-Vacancy and collection losses
Which is considered a fixed expense for a commercial
property? - ANSWER-property taxes
