[DOWNLOAD] New York State Real Estate Exam Questions
Does a real estate management company need a real estate broker's license? If you collect rent or place tenants in vacant spaces on behalf of your landlord client, the answer is yes. What happens if I do not renew my license? You cannot conduct any...
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Place it in his escrow account immediately. Is a net listing legal in NYS? No The listing salesperson must accept compensation directly from the Employing broker Can a unlicensed assistant make a listing presentation? No Agency created by written or...
New York Real Estate License Exam AudioLearn
A buyer should be cautious not to reveal the top asking price they are willing to pay to a Seller's agent When the real estate broker fails to indicate that they are brokers. Are blind ads legal? No In order for a licensee to become partners at a real estate firm, what license must he or she have? Fair and honest dealing. Highest form of legal estate in freehold land denoting complete ownership Fee simple If you purchase land or property on a stream, then you have rights to the stream known as? Riparian rights Is a "barn" considered chattel? Once its delivered and accepted. The document used to convey title legally to real property Deed What kind of lease allows the lessee to pay for all or some of the expenses of a property? Net lease If a lessee transfers all the remaining interest of his lease to another party, who then must pay the owner is called an? Assignment Contractual arrangement calling for the lessee user to pay the lessor owner for use of an asset. Escrow account A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
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Real Estate Salesperson Practice Exam 1
Contract An exchange of promises in which the terms by which the parties agree to be bound are declared either orally or in writing, or a combination of both, at the time it is made. Express contract An agreement created by actions of the parties involved, but it is not written or spoken. Implied contract The act of either: replacing an obligation to perform with a new obligation; or; adding an obligation to perform or replacing a party to an agreement with a new party. Novation Can a flip tax be imposed on a cooperative property?
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Real Estate Exam Prep Questions
Yes The Jacksons sold their house to the Andersons and are to close on August 1. The Jacksons paid their annual town taxes in January. At the closing, the Andersons will reimburse the Jacksons for The tax for the balance of the year. RESPA prohibits the payment of? Kickbacks A debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. Mortgage Is the Department of Veterans Affairs mortgage a guaranteed loan program? Yes A mortgage which covers two or more pieces of real estate. Blanket Mortgage The borrower in a mortgage?
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The Real Estate License Professor
Mortgagor Insures loans protect lenders against financial loss. Zoning board of appeals issues what kind of permits? Variances and special use permits. A type of zoning variance where a parcel of land may be given an exception from current zoning ordinances due to improvements made by a prior owner. Nonconforming use Land use is regulated by? Subdivision regulations The right of a government or its agent to expropriate private property for public use, with payment of compensation. Eminent domain Does a new construction need a certificate of occupancy when the building permit has already issued? Yes A reproduction of a technical drawing, documenting an architecture or an engineering design. Blueprint Electrical systems are routed through a What rate of Commission did this broker charge? No, only under the New York city law. What is the civil rights act of ? Prohibits any type of discrimination based on race. The practice of denying, or charging more for a loan in certain locations.
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New York Real Estate Flash Cards
Redlining Guiding prospective home buyers towards or away from certain neighborhoods based on their race. Racial steering Business practice of U. It prohibits certain business activities that federal government regulators deem to be anti-competitive. The Sherman Antitrust Law Is a salesperson that is also an independent contractor paid commission based on sales results? Yes If asbestos is in area that is not disturbed is it sometimes best to leave it alone? Yes The Department that oversees the safety of drinking water in New York is? Veterans or spouses of deceased veterans. A lists of all the legal actions that have been performed or used in conjunction with a piece of property. If you do not pass your test, simply contact us with your failure notice and we will refund you in full.
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New York Real Estate Exam Practice Questions
What is required to get a license? For salespersons: Proof of age 18 and above. Proof of completion of 75 hours pre license education. Complete and pass the real estate examination. You must be sponsored by a New York state licensed real estate broker. For brokers: Proof of completion of hours pre license education. You must have two years of full time experience being supervised by a broker, three years of full time participation in the general real estate business, or a combination of both. What score do I need to pass? The salesperson exam consists of 75 questions. The broker exam consists of questions.
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New York Real Estate Salesperson Quiz
You will be able to view if you passed or not on your eAccessNY account. How much time do I have to complete the exam? For the salesperson exam: you are allowed a total of 90 minutes. What should I bring with me for the exam? One form of identification with matching names, non-expired and containing a valid signature. It must be government issued and photo bearing. You may bring a calculator which must be silent and should not contain the alphabet. What is the format of the exam? The exam is given as a multiple-choice exam on paper.
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New York State Real Estate Salesperson Licensing Exam Questions
Not everyone passes the New York real estate licensing exam on their first try. Passing the exam is a lot easier when you know what you can expect on test day. Below is a rundown of essential information that can help you prepare to pass. The provider administered proctored exam is a great precursor. The state licensing exam is very similar in format and the questions that are asked.
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Real Estate Salesperson Practice Exam 2
The questions are specific to real estate practices and regulations in the state. For instance, you may see a question like, how old must a person be to enter into a real estate contract in New York? The answer is 18 years old. There are also questions on federal laws that pertain to real estate. One thing worth noting is that the NY Division on Licensing allows test takers to bring a battery or solar-powered calculator with them to the test. That means you should be prepared for at least a few questions that require math.
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New York REAL ESTATE EXAM PREP
There are also a number of practice tests, which is scientifically proven to be one of the best ways to retain information before exam day. Good luck!
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New York State Real Estate Exam Questions
If you are a new Realtor or looking to start a real estate sales business and have questions, please try and search the subreddit for your questions before posting or start with our "New Agent Megathread" here. Absolutely no racism, sexism, or any other type of discrimination talk of any kind about any group. No bullying and abusive language includes insulting, mocking or just being plain rude to other redditors. No bashing Realtors specifically or the Realtor profession in general. Do not make any conversation that would violate federal antitrust laws. This includes discussions about commissions you are charging or broker splits. All commissions and splits are negotiable between the parties. Links to websites with paywalls are not permitted. It is not acceptable, by any means, to link or post promotion of a brand, business, product, service, brokerage, Realtor, or listing. This includes blog spam or links for SEO. There is NO place for your product on this subreddit. Don't give free accounts, ask to test, or ask for opinions on your new software or service.
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Frequently Asked Licensing And Education Questions For COVID-19
Linking to a business in the comments is acceptable provided you are not promoting your self or business. Learn why we don't allow you to sell your wares here. If you are not a NAR member and give advice in relation to ethical concerns, please refer to the code of ethics and let the public know of your non-membership. Any content disparaging NAR will be removed. If you are unsure if your post will violate these rules, discuss with the moderators before posting. Understand Reddiquette before posting. Spam will be removed. If you see spam, report it. We are not affiliated with the National Association of Realtors and "Realtor" is a registered trademark.
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New York Real Estate Flashcards
How to get your real estate license in ny. New york state real estate license exam questions. Then click next question to. Quickly memorize the terms phrases and much more. Use our free real estate practice exams updated for to pass the real estate license exam an assessment taken by candidates who wish to become a real estate agent or broker real estate agents work to advise home buyers and sellers on market conditions real estate prices mortgages and how to best present their homes in order to sell at the best price. The broker has violated new york s real estate license laws and may have his or her license suspended or revoked. Other means of payment can be through multiple listing services when the listing broker offers cooperating compensation to the buyer broker. In addition prospective real estate agents must pass the state s official exam. New york real estate salesperson exam. You must be sponsored by a new york state licensed real estate broker.
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New York State Real Estate Salesperson Exam
Complete and pass the real estate examination. Study guide final free practice test instructions choose your answer to the question and click continue to see how you did. If you fail the exam you can schedule another exam by utilizing your account in eaccessny. Applicants will be allowed 1 1 2 hours to complete the test. Most states administer the tests in two parts and require that the candidate pass both. Our new york real estate practice exams are written by a licensed real estate instructor and are up to date with the latest rules and regulations. Create an account on the occupational licensing management. On this page you will find a full list of frequently asked questions about how to get your new york state real estate license new york license qualifications and requirements disclosing prior criminal activity how to get a new york real estate license reciprocity and out of state licensees information about the 75 hour new york real estate license course information about eaccessny.
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New York Real Estate License And Exam Info - Medicoguia.com
Proof of age 20 and above. The written exam is multiple choice and based on the 75 hour pre licensing curriculum. All of our new york real estate practice exam questions are specifically written for the state of new york and are structured exactly like the new york real estate exam. Generally you can expect that your state real estate agent license exam will consist of 80 multiple choice questions about general real estate concepts and 60 80 questions specific to state licensing laws. If you pass the exam you should apply online utilizing your account in eaccessny.
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New York State Real Estate License Exam Questions | REALESTATE
Passing the real estate exam is not hard, you just need to prepare for it. You are already on the right track by reading this article: it shows that you care. If you follow the advice above, I am sure that you will do well. You might be wondering how many people pass the state exam. There are 75 multiple-choice questions on the NY State real estate salesperson exam. You will have 90 minutes to answer all the questions so you should plan for approximately 2 hours taking the exam. There are approximately math questions on the exam but it can change depending on which set of questions you get. Since there are 75 questions, it means that you need to answer 53 questions correctly to pass.
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New York State Requirements: Salesperson
Real estate exam results are reported as either passed or failed—you will not receive a numerical score. If you fail the exam, you will need to try again. The good news is that there is no limit to how many times you can try to pass the state exam. You are only allowed to schedule one exam at a time. If you find out that you failed the state exam, you can go ahead and schedule it again right away.
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New York Real Estate Exam Study Guide
There is no mandatory wait time in between. Consider the school exam a practice test as it is free and usually harder than the state exam. If you can pass your school exam, you will likely succeed at the state exam. Most schools also offer exam prep courses as well for an additional fee — both online and in-person. This is not typically necessary unless you feel it will supplement your test preparation strategy. Everyone studies and plans differently.
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Total Initial Cost To Become A New York Real Estate Salesperson
Do what you think is best for your aptitude. Of course, the safest way to prepare for the exam is by reading the entire book carefully, multiple times, and memorizing key terms and formulas. I only read the first half of the book and went for the exam, then failed miserably. Your school should be able to provide practice tests, and your teacher is usually up-to-date on the latest trends for the state exam questions.
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Real Estate Exam Prep For New York Salesperson
I recommend asking them as to what to expect as they have constant feedback from students. You should also pay attention to your teachers: they usually emphasize what they expect to be on the test and cover those sections in more detail. Plan your day carefully and arrive early You need to give yourself plenty of time to get to the exam site. The last thing you want is arriving stressfully because of traffic or train delays. Sleep and eat well It is essential to be in good spirits and capable of focusing, so eat before the exam and sleep at least 8 hours. Keep track of time during the exam Do not stress over it but have a general idea of how many questions and how much time you have left. Ignore others in the room There will be people who finish in 20 minutes, but it makes no difference to you. Pass your school exam Included in the cost of the hour course 3. Find a sponsoring broker Free 5. Jules regularly holds seminars to educate others about the sales process.
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How Hard Is It To Pass The New York Real Estate Exam For The First Time In 2021?
Working with a mixture of A-list celebrities, famous politicians, professionals, and friends, Jules maintains excellent and consistent levels of attention for each individual. He strives to maintain expert knowledge of the real estate market to accommodate his clients, whether they are selling, buying, leasing, or investing. Never Miss a Post.
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New York Real Estate Exam Prep | Pricing And Packages
All states have their own test. Check your state for specific information. In general, you should expect your real estate licensing exam to be around multiple choice questions; about state-specific questions, and about questions related to generally universal real estate concepts. You will have between hours to complete your exam. What is the best way to study for the Real Estate Licensing Exam? Before you qualify to take the exam , you will be required to take a number of hours of prelicensure classes. This curriculum is meant to help prepare you for your state-specific exam, so make sure you keep these materials and continue to study them after the course has been completed. Beyond that, it is absolutely vital that you use all available free real estate practice exams and study resources available online.
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New York Real Estate Practice Exam
You can find a comprehensive list of free real estate practice exams, sample questions, study guides, flashcards, and more resources linked above. Is the Real Estate Licensing Exam multiple choice? In general, you should expect state-specific multiple choice questions, and around multiple choice questions on general real estate concepts. The test is usually given in two sections and candidates are expected to pass both sections. What score is needed to pass the real estate licensing exam? Below are some example passing scores. Check the exact score requirements for your state here.
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Real Estate Agent Practice Exam ( Current)
Many private schools in New York, as well as some community colleges and public universities, offer these courses in classroom, home study, and online formats. The exam consists of 75 multiple-choice questions. The remainder, starting with this one, are discretionary and will vary depending on the real estate broker you associate with and the marketplace in which you operate. There are 31 different local associations of Realtors in New York State. Dues are prorated based on the month you join. The broker you associate with will be able to tell you what organizations they belong to, and which ones you will have to join. The MLS provides more information than the public can access online, including directions for accessing property for a showing, and broker commission sharing agreements.
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Real Estate Agent Practice Test
It also provides your listings with maximum exposure to agents and buyers in your marketplace. In addition to membership fees, there are typically also fees for submitting listings. Having a lock box key allows agents easier access to a property. While it is not required, it is the industry standard. It is important to contact your insurance broker, tell them that you are getting into the real estate sales profession, and ask them if there will be any insurance ramifications to your new career. Some of these expenses can be paid on a monthly basis, while some are prorated. These figures are estimates only, provided at a specific moment in time, and can change without notice. In addition, you should anticipate additional, variable expenses for the following: Continuing education: In New York, you are required to complete Personal marketing: This can include costs associated with launching and maintaining a personal website, generating leads, promoting your listings on websites like Zillow, and creating a variety of other printed and digital marketing resources.
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Exams 2021, Tests & Answers
Technology: There will be costs associated with upgrading your computer and mobile phone to business-level. We asked several accomplished real estate professionals what they wish they knew before they earned their license and started their career, and what they thought all aspiring real estate professionals should know. We put all of their advice into a value-packed eBook.
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Free Real Estate Practice Exams [] | + Questions
Please choose another answer. You can only legally receive a commission from your employer. True False Only a real estate licensee who is authorized by law to work independently can receive a commission directly from a member of the public. If not legally authorized to work independently, a real estate licensee can only receive a commission from the employing broker. This gives the employing broker additional control to ensure that, among other things, the transaction record is complete, fair housing laws are followed, and the appropriate disclosures are made in a timely fashion. Incorrect answer. Two managing brokers from different brokerage got together to play golf. During their private round of golf, the two brokers quietly decided to that the commission rates for the two brokerage firms should match. This is an example of: a. Legal behavior permitted in a free market economy.
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New York State Requirements: Salesperson - Real Estate Express
Illegal behavior under the Sherman Antitrust Act. Illegal discrimination under federal fair housing laws. Prohibited by the Statute of Frauds Quietly fixing brokerage firm commissions is the anti-competitive, collusive behavior that the federal Sherman Antitrust Act made illegal in A is incorrect. Since the federal Sherman Antitrust Act of was enacted, firms including real estate brokerage firms have been legally prohibited from engaging in anti-competitive activity like fixing prices, fees, or commissions. Other prohibited acts include dividing up geographic territories or boycotting brokers offering cut-rate discounts. C is incorrect. There is nothing in the test question to suggest that the two brokers are engaging in housing discrimination. D is incorrect. The Statute of Frauds is not related to price fixing. The Statute of Frauds requires certain contracts and agreements be formalized in writing in order to be enforceable in a court of law.
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New York Real Estate Salesperson Quiz - ProProfs Quiz
All cash sales b. Sales invovling seller financing c. Federally related mortgage loans d. Because nearly all loans on residential properties are federally related, RESPA regulations cover the vast majority of residential loans. Here are some of the loans that are considered federally related: VA guaranteed loans, FHA insured loans, loans intended to be sold onto the secondary mortgage market, lenders with FDIC, etc.
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Friday, April 23, 2021
New York State Real Estate Exam Questions
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