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

New York Real Estate Exam

1 / 75

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

2 / 75

An example of an antitrust violation is

3 / 75

What type of ownership model is used for vacation real estate in which multiple purchasers own allotments of usage, typically in one-week increments, for the same property?

4 / 75

Which of the following is a lien?

5 / 75

How many hours of continuing education are required for New York real estate salespersons?

6 / 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

7 / 75

In real estate, alienation is best described as:

8 / 75

Andrew created a life estate on his property for his sister Gabby. Under the terms of the deed, ownership of the property will last until

9 / 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.

10 / 75

Which of the following would generally constitute an antitrust violation?

11 / 75

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

12 / 75

In the case of a standard tax lien who gets paid first?

13 / 75

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

14 / 75

A property's market value is $350,000. The assessment rate for the house is 15% with 27.50 mills. Find the annual property taxes.

15 / 75

A legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset:

16 / 75

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

17 / 75

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

18 / 75

In terms of financing involved for a real estate purchase, which custom is practiced in New York?

19 / 75

Which of the following is an example of Real Property?

20 / 75

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

21 / 75

The EPA requires real estate professionals to give purchasers and tenants of residential dwelling a pamphlet about Lead-Based paint if the dwelling was built before when?

22 / 75

Which of the following best describes the term "emblements?"

23 / 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?

24 / 75

Which answer includes 3 actual types of business structures? Choose the best answer.

25 / 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?

26 / 75

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

27 / 75

A bilateral contract is one in which

28 / 75

Which of the following consumers would most likely qualify and be able to derive the most benefit from refinancing their mortgage?

29 / 75

A lender agrees to release the first borrower from all financial obligations and let a second buyer be responsible for the repayment of the debt. What is this an example of?

30 / 75

What is a written supplement or amendment to an existing will such as one affecting the transfer of real estate upon death?

31 / 75

State laws differ on whether a buyer is entitled to know about:

32 / 75

Holding earnest money without depositing it, is what?

33 / 75

Which of the following best describes the acceleration clause?

34 / 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?

35 / 75

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

36 / 75

Which of the following best describes real property?

37 / 75

Justin takes out a mortgage loan that requires monthly payments of $650.50 for 25 years and a final payment of $30,000. What type of loan is this?

38 / 75

Why is an oral lease for two years not generally enforceable in law?

39 / 75

What agency issues New York real estate licenses?

40 / 75

How long are terms for members of the New York State Board of Real Estate?

41 / 75

What determines who pays for what and how much at closing?

42 / 75

A real estate contract can be rescinded because of what?

43 / 75

How often is continuing education required for New York real estate licensees?

44 / 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?

45 / 75

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

46 / 75

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

47 / 75

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

48 / 75

This act, allowed greater control for the EPA to control contaminant levels, take legal action against public water auth. for violations, and require periodic water testing and notification to state authority and homeowners if contaminated.

49 / 75

What is the act of mixing the client’s funds with the broker’s own funds? This can be both legal and illegal depending on the state and circumstance.

50 / 75

Which of the following would not be considered appurtenant?

51 / 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

52 / 75

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

53 / 75

Is replacement cost and reproduction cost the same thing and if it is different, what is the difference?

54 / 75

When a home is purchased using an adjustable rate mortgage or ARM, the monthly loan payment on the mortgage will:

55 / 75

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

56 / 75

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

57 / 75

Who is most likely to win a suit for specific performance?

58 / 75

Enacted in 1974, which of the following is a regulation that aims to give all legal individuals an equal opportunity to apply for loans?

59 / 75

Which type of lien is a claim imposed against a property without the consent of its owner?

60 / 75

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

61 / 75

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

62 / 75

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

63 / 75

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

64 / 75

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

65 / 75

A seller tells the listing agent that her home was treated for termites five years ago, and that there are no termites now. Before listing the property, the agent should

66 / 75

Richard is renting property from Becky. Richard is on a month to month lease agreement. This past month he did not pay his rent. Richard's interest would be classified as:

67 / 75

Brokerages and real estate agents across America connect using a

68 / 75

Is crossing out part of a printed contract allowed and legally enforceable?

69 / 75

Commingling is the opposite of what?

70 / 75

What is the measurement or boundary between a plot of land or a building and the road onto which the plot or building fronts?

71 / 75

If your New York real estate license is revoked, how long do you have to wait to re-apply for a new one?

72 / 75

A seller named Joan gave a buyer named Bob an option for thirty days to purchase her property for a consideration of $750. There is no anti-assignment clause in the contract. Which of the following statements is NOT true?

73 / 75

A lender's refusal to lend money to potential homeowners attempting to purchase property located in predominantly minority neighborhoods is

74 / 75

In preparing for variable expenses in a property management budget, the property manager should set up a what?

75 / 75

Amendments and addendum are essentially the same thing, correct? Choose the best answer.

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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