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real estate exam nys > exam > Flashcards

exam Flashcards

1
Q

schedule c as independent _____

A

contractor

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2
Q

attorney is not exempt from having a sales license if they sponsor a sales ____

A

agent

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3
Q

the customer that hires the ________ becomes the client

A

sales agent/broker

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4
Q

special agent is a

A

real estate agent

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5
Q

general agent is a property

A

manager

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6
Q

accountability is the fiduciary that is ____ when a broker is comingling

A

violated
dual agency
disclosure from at 1 st substantive contact

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7
Q

exclusive right to

A

sell

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8
Q

tenancy in common survivor___

A

ship

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9
Q

joint tenancy in no survivor___

A

ship

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10
Q

water

A

ny state health department is responsible for drinking ____

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11
Q

ny county health dept is responsible for the ___

A

septic

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12
Q

mortgage banker licensed with ny state banking

A

dept

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13
Q

ho4 covers renters and homeowners

A

insurance

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14
Q

flood insurance is purchased

A

seperately

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15
Q

riparian rights

A

land by river stream

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16
Q

when a broker acts in the best interest of the party that is opposite her client this is a situation of what

A

undisclosed dual agency

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17
Q

who determines license laws

A

department of state

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18
Q

who oversses water law

A

department of state

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19
Q

whawt is the slope of a roof

A

pitch

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20
Q

what is a wraparound laon

A

KIND OF SECOND MORTGAGE

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21
Q

what age to sign a deed

A

18

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22
Q

what age to sign a contract

A

18

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23
Q

what age to become a salesperson

A

18

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24
Q

for a contrac tot be valid it must be

A

written and signed1

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25
Q

what is the borrowr called

A

mortgagor

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26
Q

cash on cash 2 million 500,000 down 15,00 per month income

A

coc is 36%

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27
Q

who does not haver a property tax exemption

A

second homeowner

28
Q

if a superintedent fixes a broekn facucet that is what kind of maintance

A

corrective

29
Q

to find the actual cost of occupied sq ft you must calculate tho

A

usable square footage vs rentable sq footage

30
Q

if a house burned in a fire what types of insurance will cover the complete cost of belongigns

A

replacement cost

31
Q

who signs the deed

A

the grantor

32
Q

who licenses mortggage broekrs

A

the dept of banking

33
Q
A
34
Q

the cma is never refeered to as

A

an appraisal

35
Q

who can a salesperson collect comission from

A

the supervising broker

36
Q

who can a salesperson collect commission from

A

the supervising broker

37
Q

who licenses mortagage brokers

A

the dept of banking

38
Q

who licenses mortgage brokers

A

the dept of banking

39
Q

if a superintedent fixes a broekn fauce that is what kind of maintance

A

correctibve

40
Q

appraisal

A

the cma is never reffered to as

41
Q

the cma is never refered to as an

A

aapraisal

42
Q

violations in ny real property law consiidered

A

misdemamor

43
Q

situation where byer receives financial ssitance with down payment and in exhcnage gives up share in profits

A

shared equity mortgage

44
Q

situation where buyer receives financial assisttance wiuth down payment and in exchange gives up share in profits

A

shared equity mortgage

45
Q

when money plentiful interest ratesa go

A

up

46
Q

when money is plentiful interest rates go

A

up

47
Q

there are nver exceptions from fair housigng laws in

A

rtace

48
Q

lease of unfinsihed ope space

A

loft

49
Q

leas of storage or warehouse space that is unfished and not divided into rooms

A

net lease

50
Q

how long must a salesperson wait to renew their license after it has been revoked

A

one year

51
Q

if beth purchased a property that gave her an easement to cross a driveway to get to a bench, what is the type of easement

A

easement appurtenant

52
Q

what act regulates cfc

A

clean air act

53
Q

what gov agency ensures clean water

A

health department

54
Q

health department is responsible for approving septic and other santion

A

systems

55
Q

there is a lovely the4ater from the 1800s the neighbrhood want to keep its authenticity which agency should they aprpoach

A

landmark prservation comissionwhat is

56
Q

what is the term described in the profits after taxes

A

net operating incomes

57
Q

what is the term described in the profits after taxes

A

net operating incomewh

58
Q

what is the term described in the profits after taxes

A

net operating income

59
Q

what is an agent called that always represents the purchaser

A

buyers agentwhat

60
Q

what is a broker called that always represents the purhcaser

A

byers brokers

61
Q

what can the broker pay for for their agents

A

telephoneswhat

62
Q

is the report that shows what proeprties have been sold recently similar proerpties in the area expired listeing

A

comparative market analysis

63
Q

who signs the contract first

A

BUYER

64
Q

WHAT IS IUT CALLED WHEN YOU USE OTHER PEOPLES MONEY

A

LEVERAGE

65
Q

AT CLOSING THE ALLOCATING OF TAXES MAINTENCANCE ETC IS WHAT

A

PRORATION

66
Q

WHAT documents valids a proprietary deed

A

shares of stock in corporation

67
Q
A

real estate exam nys (1 decks)

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