Study guides, Class notes & Summaries

Real Estate U Final Exam Questions And Answers 2024/2025 Article 12-A of the NYS Real Property Law Answer: The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age Sponsor broker Answer: A licensed real estate broker that holds the license of a salesperson "Summary of Your Submission" Answer:...

REAL ESTATE U FINAL EXAM TEST BANK AND STUDY GUIDE | ALL EXAM VERSIONS 1 , 2 AND 3 | ACCURATE REAL EXAM QUESTIONS AND ANSWERS | RECENTLY TESTED | EXPERT VERIFIED | GUARANTEED PASS | GRADED A | LATEST UPDATE | 2023/2024

REAL ESTATE U FINAL EXAM TEST BANK AND STUDY GUIDE | ALL EXAM VERSIONS 1 , 2 AND 3 | ACCURATE REAL EXAM QUESTIONS WITH CORRECT ANSWERS | RECENTLY TESTED | EXPERT VERIFIED | GUARANTEED PASS | GRADED A | LATEST UPDATE | 2023/2024 A real estate licensee has a buyer agency agreement. What is the seller in this situation? - A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must...

REAL ESTATE U FINAL EXAM TEST BANK AND STUDY GUIDE | ALL EXAM VERSIONS 1 , 2 AND 3 | ACCURATE REAL EXAM QUESTIONS AND ANSWERS | RECENTLY TESTED | EXPERT VERIFIED | GUARANTEED PASS | GRADED A | LATEST UPDATE | 2023/2024 Article 12-A of the NYS Real Property Law - The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broke...

In a sub-lease, who is responsible for paying rent to the landlord? - Answer The original tenant Which of the following individuals is NOT required to have a real estate license? - Answer An attorney admitted to the NY State Bar Which of the following loans has a monthly payment that is lower in the early years but increases over the term of the loan? - Answer Graduated payment mortgage What type of easement is commonly used by utility companies? - Answer Easement in gross Wh...

A real estate licensee has a buyer agency agreement. What is the seller in this situation? - Answer A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? - Answer He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the premises? - Answer If the tenant has loud parties, makes too much...

Bundle of Legal Rights is property included in - Answer The definition of real property Bundle of rights concept - Answer Possession,Enjoyment,Exclusion,Disposition,control In Pennsylvania, mine activities refers to - Answer Subsurface rights Land is considered to be - Answer indestructible The Comprehensive Plan - Answer Is not a regulatory document Zoning does not affect such things as - Answer Deed restrictions Zoning - Answer A planning tool used to separate i...

Administrative Discipline - Answer The Department of State's ability to enforce license laws through reprimand and denial as well as the suspension and revocation of licenses Apartment Information Vendor - Answer Any person who engages in the business of claiming, demanding, charging, receiving, collecting, or contracting for the collection of, a fee from a customer for furnishing information concerning the location and availability of real property, including apartment housing, which ma...

Accountability - Answer To be responsible. (Safeguard any money or property held on behalf of the client) Advance Consent to Dual Agency - Answer The seller or buyer agrees to dual agency before it occurs by indicating the same on the agency disclosure form Agent - Answer One who undertakes to transact some business or to manage some affair for another by authority of the latter. Broker's Agent - Answer A broker's agent is an agent that cooperates or is engaged by a listing ag...

A .............. clause is also known as the "to have an to hold" clause? - Answer Habendum Clause A sudden and perceptible loss or addition to land by the action of water, or a sudden change in the bed or course of a stream is known as what...? - Answer Avulsion The transfer of the title of land from one to another is known as what...? - Answer Conveyance This consists of the written words which delineate a specific piece of real property? - Answer Description A supreme ti...

Which of the following are tax-deductible expenses resulting from home ownership? - Answer Mortgage interest and property taxes Which of the following is true regarding the $500,000 exemption, in the sale of a personal residence, for a married couple filing jointly? - Answer A married couple can use the $500,000 joint exemption if only one meets the ownership requirement, but BOTH meet the occupancy requirement A homeowner in NC had constructed a three-bedroom house with two full bat...

Article 12-A of the NYS Real Property Law - Answer The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age Sponsor - Answer A licensed real estate broker that holds the license of a salesperson. "Summary of Your Submission" - Answer Obtained after your register for the New York State ...