75+ Free New York Real Estate Practice Exam Questions (January 2023)

New York Real Estate Exam

1 / 75

The Latin phrase ad valorem comes up often when talking about property taxes. What does ad valorem mean?

2 / 75

What is the general technique of determining three-dimensional positions of points and the distances and angles between them?

3 / 75

Which of the following real estate contract clauses is typically seen in blanket mortgages and allows for the freeing of all or part of a property from a claim through a proportional or full amount of the mortgage being paid off?

4 / 75

Appraiser Larry has a set of special-purpose and public service buildings like schools, churches, and post offices, which he needs to appraise. Which approach to value would Larry, the appraiser choose to complete the task?

5 / 75

A property owner enters into a listing agreement with an agent. Another agent obtains a buyer for the house, and the first agent does not receive a commission. The listing agreement between the first agent and the property owner was probably

6 / 75

Tina and Tom are two unmarried individuals who own property with equal interests and without a right to survivorship. Which of the following forms of ownership would Tina and Tom most likely have?

7 / 75

Which of the following would generally constitute an antitrust violation?

8 / 75

Generally speaking, what happens when the supply of available houses in an area increases significantly?

9 / 75

To whom does an agent always owe their fiduciary responsibility?

10 / 75

How long must a New York Broker retain their records?

11 / 75

Members of the New York State Board of Real Estate are appointed by

12 / 75

Typically a warranty deed contains how many covenants?

13 / 75

What is the outcome when a purchaser signs a purchase agreement and gives the seller's broker a large check?

14 / 75

What is the procedure used by a public or private entity with the powers granted to take privately owned real estate?

15 / 75

A mortgagor is also known as the:

16 / 75

What form of legal land description consists of principal meridian lines that cover most states in the US, running north to south and baselines running east to west?

17 / 75

During a standard residential transaction, verifying ingress and egress rights is an essential part of the:

18 / 75

Which of the following are the main participants in real estate markets?

19 / 75

An offer to purchase real estate becomes a contract when it is signed by the

20 / 75

When an asset is pledged as collateral to secure a loan what is it called?

21 / 75

Buyer Dan is considering buying a lot to build a single family residence. Dan hires an appraiser to appraise the lot. Which approach to value would the appraiser choose to complete the task?

22 / 75

Which of the following might suggest that rent is too low in an apartment unit?

23 / 75

How many miles does a township contain?

24 / 75

Any loss in the value of a property over time from any cause.

25 / 75

If someone is unlawfully forced to execute a contract it is called what?

26 / 75

Which of the following two real estate contract clauses protect the lenders in some way, usually by asking for some form of payment(insurance)?

27 / 75

Using a trust typically has advantages and disadvantages. One of the main advantages of Land Trusts are:

28 / 75

Which of the following would be classified as “consideration” in a real estate contract?

29 / 75

If a buyer refuses to go ahead with a purchase of property which he has signed a contract, what usually happens to the earnest money?

30 / 75

Closing is always the ____ step in executing a real estate transaction.

31 / 75

What governmental body oversees mortgage brokers and mortgage bankers within New York?

32 / 75

The Civil Rights Act of 1866 prohibits discrimination in real estate based on:

33 / 75

Complete the following statement. The rescission of a contract occurs when:

34 / 75

Which of the following is a common example of real estate police power?

35 / 75

An agent took a listing and later discovered that her client had previously been declared incompetent by the court. The listing is now

36 / 75

What agency issues New York real estate licenses?

37 / 75

An appraiser has been hired to prepare an appraisal report of a property for loan purposes. The property is a 25-year-old strip mall. To which approach to value should the appraiser give the greatest weight when making this appraisal?

38 / 75

What is the highest form of real estate ownership that is recognized by law, in which the owner can enjoy the property to its fullest extent?

39 / 75

What is the difference between commingling and conversion in real estate?

40 / 75

Mrs. Jackson signs an open listing on her home with three different brokers. In this case:

41 / 75

Which of the following statements about water rights is true? Choose the best answer.

42 / 75

A broker's listing on a house expired. The next day it was listed with another broker and offered in the MLS. A week later, a third licensee called the first broker and asked for the key to show the home. The broker should inform the caller that:

43 / 75

A property's market value is $400,000. The assessment rate for the house is 25% with 22.75 mills and a $25,000 property tax deduction. Find the annual property taxes.

44 / 75

Traditionally real estate agents are paid through a fee paid for performing a transaction, called a

45 / 75

A couple owns an older home in a neighborhood that is becoming a commercial area. Because of the change in the use of the land, the couple can expect the value of their parcel to increase at some future time. This is an example of the principle of

46 / 75

According to the Do Not Call list and Established Business Relationship (EBR) Rules, how many months does a company have to call the consumer if they made an inquiry with the company?

47 / 75

The period over which a property may be profitably utilized is called its:

48 / 75

A buyer of a home was not informed that his house was on a septic tank system. The buyer has the right to:

49 / 75

Which of the following is an economic characteristic of real estate?

50 / 75

Liquidated damage is most likely to be found in which of the following documents?

51 / 75

The best way to determine fair value.

52 / 75

What hazardous substance is an odorless, colorless gas that can cause death within hours of inhalation?

53 / 75

Which of the following legal concepts requires real estate listings to be in writing?

54 / 75

A tenant rented an apartment, signing a 12-month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold does the tenant have?

55 / 75

A lease agreement where the tenant has the right to buy the property within a specified period of time is called what?

56 / 75

The owner of a condominium has the use of many facilities there, including a pool. Under the typical condominium arrangement, the facilities are owned by

57 / 75

What best describes an agent hired to perform a specific duty?

58 / 75

If a court decides a remedy for a seller compelling them to sell the property, it is known as what?

59 / 75

A man named Troy lives in California, but owns property across the U.S. He owns property in cities like Pittsburgh, Philadelphia, and D.C. Troy decides he wants to sell his property in D.C. Instead of traveling all the way to D.C. to complete all the paperwork, he calls up his buddy Tony. Troy authorizes Tony, who lives in D.C., to sell his property for him. Troy gives Tony a/an:

60 / 75

Which of the following would NOT apply to the income approach in the valuation process?

61 / 75

The cost of public services is distributed among real estate owners through what?

62 / 75

Which of the following laws prohibits discrimination in the buying, selling, renting or financing of housing. These laws prohibit discrimination based on race, religion, color, sex, disability, children, nationality and more.

63 / 75

A property owner enters into a listing agreement with an agent. The seller obtains a buyer for the house, but the agent receives a commission. The listing agreement between the agent and the property owner was probably

64 / 75

Which of the following real estate contract clauses establishes order of priorities of financial claims (liens)?

65 / 75

Holding earnest money without depositing it, is what?

66 / 75

Your client signs a contract to buy a house and the seller refuses to sell the house at the very last minute. Your client still wants the house. What should your client do?

67 / 75

A salesperson working for Trinity Real Estate LLC has moved to Lotus Realty. What happens to the listings the salesperson took at Trinity Real Estate LLC?

68 / 75

A property owner wishes to build a neighborhood grocery store in an area zoned for residential use. Which of the following would MOST likely be used to obtain permission to build the store?

69 / 75

If a legal description is too long to include in the body of a sales contract, a real estate professional should do what?

70 / 75

An elderly man in a nursing home, has no family and is suffering from Alzheimer’s. Because of his Alzheimers, he doesn’t remember much. Eventually, he passes away in his sleep. There is no will for the man, and again he has no family. So what happens to the money left in his savings account and his old farm that has been left untouched since he entered the nursing home?

71 / 75

Choose the best answer. A lawsuit for inverse condemnation may be brought by:

72 / 75

What is the difference between void and voidable contracts? Choose the best answer.

73 / 75

Which of these meets the Department of Housing and Urban Development’s (HUD) definition of family as a protected class?

74 / 75

Often required for mortgages, property insurance for a home is commonly called:

75 / 75

As a listing agent, what obligations do you owe to an unrepresented buyer?

Your score is

Hello, welcome to our New York Real Estate Practice Exam.

In New York, there are 75 questions on the exam. Many states have a national portion and a state portion, but New York has one section combining both for a total of 75 questions. 

The two most effective study tools for the state exam are practice exams and learning the state-specific license laws. 

Our state-specific practice exam is a fantastic tool to help you grasp your state's real estate topics. It works just like the national practice exam and is updated annually. Usually, using the state practice exam is enough for students to grasp the concepts. However, if you want more, the single most important resource out there is the laws they base the questions on. 

If you haven't looked at your state's Real Estate Statutes or Regulations, it's strongly recommended.

The test makers take snippets of laws applicable to your state and use them for the questions. We use the actual state laws to create our questions, which is why some of the questions may look familiar to you. Some websites and prep providers do not, and that's the secret. You need to know your state's laws. 

Furthermore, It would be best if you read through your laws at least once, and that's the greatest advice we can give you. Trust us, we know it can be very time-consuming, but reading through each one of these will provide you with precisely the information you need to pass. 

Best of luck, reach out if you need anything,

Real Estate License Wizard Team

New York Real Estate Statutes and Regulations

Here is our list of recommended Real Estate Statutes and Regulations you need to know:

NYS Board of Real Estate https://dos.ny.gov/nys-board-real-estate

  • Purpose
  • Guidelines

Property Law and Related Statutes https://dos.ny.gov/system/files/documents/2022/03/re-law.pdf

  • Definitions
  • State License Law
  • Prohibited Practices
  • Environment Law

NOTE: State websites update semi-frequently and sometimes their website URLs change. If any of the links posted below do not work, please reach out and we will update the links promptly. Thank you.

New York Real Estate Exam FAQs

Have a question about the real estate exam? Find the answers to all your real estate license questions here:

What are New York’s Real Estate License Requirements?

Real estate license requirements vary from state to state. Here are New York’s requirements:

  • Must be 18 years or older.
  • Must obtain and submit a copy of your own fingerprints.
  • Must complete required state-approved pre-licensing courses (75 credit hours).
  • Estimated cost of total fees and license: $70

How Hard is the New York Real Estate Exam?

The real estate exam is a rigorous and challenging test that weeds out those who are not committed to being skilled agents. To pass the exam in New York, you’ll need to get a score of at least 70%. With a total of 75 questions, that means the score to pass is 53.

How Many Questions Can You Miss on the New York Real Estate Exam?

In New York, you can miss 22 questions and still pass the real estate exam.

How Many Times Can You Take the New York Real Estate Exam?

There are no limits to the number of times you can take your real estate exam. Anyone who fails the New York state exam may immediately pay and reschedule the exam. There are no restrictions.

What Is on the New York Real Estate Exam?

The 75 multiple-choice questions on the salesperson examination cover a variety of topics that are relevant to New York real estate license law. Here are what topics you are expected to know:

New York General Exam Topics:

  1. Property Ownership
  2. Land Use Controls and Regulations
  3. Valuation and Market Analysis
  4. Financing
  5. General Principles of Agency
  6. Property Disclosures
  7. Contracts
  8. Leasing and Property Management
  9. Transfer of Title
  10. Practice of Real Estate

New York State Exam Topics:

  1. New York State License Law
  2. New York Real Estate Board Purpose and Guidelines
  3. New York Real Estate Prohibited Practices
  4. Environment Laws Applicable to New York

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