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New York State Real Estate Salesperson Licensing Exam
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The New York State Real Estate Salesperson Exam is a 90-minute, 75-question multiple-choice test requiring a 70% passing score. The curriculum covers national real estate principles and New York-specific laws, including, but not limited to, real property characteristics, agency, contracts, fair housing, and property management.  Core Syllabus Topics Real Estate Law and Licensing: License requirements, regulations, and NY Department of State rules. Law of Agency: Fiduciary duties, disclosure, and types of agency relationships. Estates and Interests: Types of ownership, easements, and... Show more
New York State Real Estate Salesperson Licensing Exam
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25 Questions

1. Whats right to access whiter from a river or stream called?

2. What type of listing agreement is it where the listing broker gets commission for the sale of the property even if the owners themselves sell the property?

3. How much profit can a single person claim from the sale of a personal residence thats tax free?

4. What is the tang of private property by the government for public use called?

5. In NYS, how old must one be to enter into contracts?

6. If a property ad states that the property is near the vicinity of a geographical area, what else mud the ad include?

7. What does the secondary mortgage market do?

8. What are property taxes based on?

9. Who issues real estate licenses?

10. What does municipal engineer's office do?

11. What is the cash on cash return on a $2,000,000 property with a down payment of $500,000 and $15,000 monthly rental income?

12. What does the zoning board of appeals do?

13. Who is not usually exempt from property taxes?

14. What clause in the deed describes the property?

15. Seller tells the listing agent he filed for bankruptcy the previous year. The seller ends up not listing the property with the agent, Still, what fiduciary duty does the agent owe the seller?

16. Who is the borrower of a mortgage loan?

17. What type of mortgage is when a new mortgage that is higher in amount wraps around an existing first mortgage thats smaller in amount?

18. Who oversees licensing and registration of mortgage bankers and brokers?

19. What can brokers provide their salespeople if they are independent contractors?

20. What type of income is partnership/investments?

21. What document provides detailed information on a condo or coop project?

22. What happens if one of the parties to the contract is a minor?

23. Unless specified a lesser estate, transfer of title to real property in NYS creates what type of interest?

24. How many years is a residential investment property depreciable for?

25. What type of maintenance is fixing a leaky faucet?

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