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NYREI Test Questions with Correct Answers

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NYREI Test Questions with Correct Answers tester - Answer-the only and fair way to police the real estate industry is through ... civil rights act of 1866 - Answer-was the first major effort of the federal government to guarantee equal housing to all US citizens fair housing act - Answer-provided that it is unlawful to discriminate on the basis of race, color, religion, or national origin when selling or leasing residential property familial status - Answer-means a parent or guardian wh...

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NYREI Exam Questions with Correct Answers

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NYREI Exam Questions with Correct Answers easements - Answer--right to use another persons real property for a particular service -ROW -right of way --> an easement that grants access to property easements in gross - Answer--involves a specific parcel of land -benefits a person or company (dominant tenant) -burdened land is called servient Easements appurtenant - Answer-Involves 2 separately deeded parcels that are owned by different parties. Affirmative- allows someone to do some...

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NYREI Practice Exam Questions and Answers

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NYREI Practice Exam Questions and Answers For the income approach to appraisal, value is a reference to what? - Answer-the worth of the investment Which method of property description is most frequently used in New York State? - Answer-Metes and bounds One important characteristic of investing caused Bill to invest in certificates of deposit rather than real estate. Bill was concerned with - Answer-liquidity. Who sets the legal description? - Answer-surveyor Dwelling policies generall...

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NYREI Quiz Questions with Correct Answers

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NYREI Quiz Questions with Correct Answers Greg lists his home with PDQ Realty allowing them to put a sign in the yard, list it in MLS, and advertise it in the local newspaper. During the listing period, Greg sells the home to his brother and is not obligated to pay PDQ any commission. What type of listing did Greg have with PDQ? - Answer-Exclusive agency Which statement indicates that the listing agreement is an exclusive right to sell? (the commission expected on the sale price, a noti...

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NYREI Exam Prep Questions with Correct Answers

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NYREI Exam Prep Questions with Correct Answers A leasehold estate that continues for a successive periods of equal length until terminated by proper notice from either party is a - Answer-Periodic tenancy Physical land and everything attached to it is called - Answer-Real Estate Equipment a tenant installs for use in his or her business is called - Answer-Trade fixture The illegal practice of inducing homeowners to sell their homes (Usually at a deflated price) by suggesting the ethin...

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NYREI School Test Questions with Correct Answers

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NYREI School Test Questions with Correct Answers Age of salesperson - Answer-18 Experience for sales person - Answer-No Age of broker - Answer-20 Broker experience - Answer-2 years experience and 3500 points How long to reapply for license - Answer-One full year Confidentiality - Answer-Last forever Commission earned - Answer-When bringing a ready, willing and able buyer; meeting of the minds Cooperative transaction - Answer-Seller no fiduciary obligations First for to client - Ans...

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NYREI Review Packet Exam Questions and Answers

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NYREI Review Packet Exam Questions and Answers What agency issues real estate licenses? - Answer-Department of State or Division of licensing Services At what age can you become a real estate salesperson? - Answer-18 Do you need experience in the field to become a salesperson? - Answer-No What is the minimum age to become a real estate broker? - Answer-20 Do you need experience in the field to become a real estate broker? - Answer-Yes, 2 years experience and 3500 points If your licen...

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NYREI Exam Questions with Complete Solutions

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NYREI Exam Questions with Complete Solutions Who is responsible for the administration of licensing? - Answer-Secretary of State Which article of real property law deals with licensees? - Answer-Article 12A Which article of real property law deals with real estate transactions, such as zoning, subdivisions, easements, and the like? - Answer-Article 9A Which article of real property is is a proceeding known as a "suit to Quiet Title"? - Answer-Article 14 What does section 443 of Artic...

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NYREI School Exam Questions and Correct Answers

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NYREI School Exam Questions and Correct Answers A vertical piece used to frame a structure is called a: - Answer-stud What are horizontal parallel framing boards used to support floor loads? - Answer-joist With regard to residential insulation, what does R- value refer to? - Answer-resistant to heat transfer What is the standard ventilation rate? - Answer-15 cubic feet per min (CFM) per person What system delivers heat and AC through the same ducts? - Answer-Forced warm air system As...

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NYREI Test Questions with Complete Solutions

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NYREI Test Questions with Complete Solutions In his first week on the job, property manager Tim checks the insurance coverage for the building he manages and indicates potential needs for more coverage. This is an example of Tim's obligation to - Answer-a. risk management. What is it called when a lender evaluates a prospective buyer and documents, in writing, that he is willing to loan this buyer up to a certain amount of money? - Answer-b. pre-approval When someone dies without a wi...

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