Free New York Real Estate Practice Exam Questions (May 2024) 75+

New York Real Estate Exam

1 / 75

Which valuation method or appraisal approach involves comparing a property to other recently sold properties in the same area of similar size and condition?

2 / 75

The best way to determine fair value.

3 / 75

The “time is of the essence” contract clause in real estate contracts generally has to do with what?

4 / 75

The execution date or date executed is the day a contract is signed. The effective date is what? Choose the best answer.

5 / 75

Most real estate sales contracts include contingency clauses, making them what?

6 / 75

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

7 / 75

A mortgagor is also known as the:

8 / 75

What is an item on a property that is installed by the tenant, and is related to the tenant's business classified as?

9 / 75

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

10 / 75

New York has real estate license reciprocity agreements with which states?

11 / 75

What's the main point and purpose of the New York State Real Estate Board?

12 / 75

Which of the following is NOT a main element of a valid real estate contract?

13 / 75

The term "Licensee," is commonly used in real estate law. A licensee is just:

14 / 75

Government power is the constitutional authority and inherent power of a state to adopt and enforce laws and regulations to promote and support the public health, safety, morals, and general welfare. Escheat is

15 / 75

When talking about business and professional ethics, as a licensed real estate agent, it is important to make sure:

16 / 75

Philip has a contract with his neighbor Jessica for lawn service. Philip can no longer mow the lawn due to an ankle injury. Paul, Jessica's other neighbor, agrees to carry out the terms of Philips contract. In order to do this, Jessica must substitute Philip's name with Pauls on the contract. What is this an example of?

17 / 75

What type of court handles the analysis and transfer of real estate or general estate assets of a deceased person (without a will)?

18 / 75

What is the total quantity that buyers are willing to buy at a given time at certain prices?

19 / 75

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

20 / 75

After paying off a loan, the lender files what to release the lien?

21 / 75

What best describes an agency relationship where an agent has legal authority to act on behalf of the principal?

22 / 75

Which of the following best describes a blind offer?

23 / 75

What is best defined as, a document in which a property owner contracts with a real estate agent to find a buyer for the owner's property?

24 / 75

What is Ginnie Mae’s primary responsibility?

25 / 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?

26 / 75

At the very minimum advertising property or services by real estate professionals, should include what?

27 / 75

A contract may include a clause that limits the amount of money to which the seller is entitled in case the buyer breaches the contract. What is this called?

28 / 75

After smoking, this is the second leading cause of lung cancer in the United States. A naturally occurring gas that forms in rocks, soil, and water.

29 / 75

The increase of value with the passage of time is best described as:

30 / 75

What is it called when parties have fully performed the terms of a contract?

31 / 75

An appurtenant easement has several ways of legal termination. Which of the following is NOT a valid way to terminate an easement?

32 / 75

Tony and Taylor are two unmarried individuals who own property with equal interests and a right to survivorship. Which of the following forms of ownership would Tony and Taylor most likely have?

33 / 75

A married couple intends to purchase property, but only if they can qualify for a mortgage loan at a reasonable rate. The qualification is

34 / 75

If a New York real estate license has expired, how long can the real estate professional continue to practice real estate?

35 / 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:

36 / 75

The statute of frauds, applies to

37 / 75

All of the following will void an offer except

38 / 75

The fact there is a limited amount of land on earth represents what essential element of value?

39 / 75

A real estate contract can be rescinded because of what?

40 / 75

Three identical properties in a suburban neighborhood were listed at the same time in a market where demand was constant. According to the law of supply and demand, which property would have sold for the lowest price?

41 / 75

An example of economic obsolescence in real estate is

42 / 75

Which of the following is a physical characteristic of real estate?

43 / 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?

44 / 75

Which act amended the comprehensive environmental response, compensation, and liability act (also known as CERCLA)?

45 / 75

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

46 / 75

A buyer wants to be represented by several different agents while looking at various properties. This is an example of what?

47 / 75

When do real estate licenses expire in New York?

48 / 75

Josh agrees to represent Susan in the sale of her home. The listing contract states that Josh will receive a fee of $15,000 from Susan at closing, regardless of the sales price. Is this a legal and a valid form of compensation?

49 / 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

50 / 75

Which of the following fiduciary duties continues after a listing agreement expires?

51 / 75

What is the document that defines the relationship between the broker and the seller?

52 / 75

What is the possible fine of violating New York Real Estate Licensee Law?

53 / 75

Economic life is the length of time during which a piece of property may be put to profitable use. Economic life is usually:

54 / 75

Under the terms in a mortgage, the lender must be paid in full if the property is sold to another person. This is known as the

55 / 75

What best describes the type of agency typical in property management - in which an agent has limited power?

56 / 75

What New York governmental authority oversees the fresh drinking water supply?

57 / 75

During the listing agreement a commission of 6% is established. The house is sold for $250,000. What is the commission?

58 / 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.

59 / 75

What is the test done to locate where to place a septic system?

60 / 75

An interest in real property which is held for the duration of the life of a designated person is called a

61 / 75

What is the LAST requirement in the process of offer and acceptance that creates an executory contract?

62 / 75

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

63 / 75

Assuming there are no extra fees, and the broker is representing the buyer and the seller, what was the final sales price of a property if the commission rate was 5.5% and the broker received $11,000.

64 / 75

The type of easement that is a right-of-way for a utility company's power lines is what?

65 / 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?

66 / 75

Which of the following best describes Eminent Domain?

67 / 75

Acceleration is a term associated with which type of document?

68 / 75

A parcel of land that is subject to an easement is best described as:

69 / 75

How many members does the New York State Board of Real Estate have?

70 / 75

The amount borrowed is called the:

71 / 75

A buyer and seller entered into a contract, they negotiated the sale of the side lot at the same time as the transfer of the home. What is the second document called?

72 / 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:

73 / 75

There are three different main approaches that appraisers use while they make an appraisal. What are they?

74 / 75

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

75 / 75

The majority of homes before _______ used lead paint.

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

  • Purpose
  • Guidelines

Property Law and Related Statutes

  • 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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