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Real Estate U Pass the New York State Exam (v.2) 2.3 Practice Exam # 3 (75 questions)
Which of the following is NOT exempt from obtaining a license? - A licensed attorney acting as a sponsor to a real estate salesperson
A real estate salespersons license must be renewed every .........years. - 2
A real estate salesperson operates as what type of agent to their client? - Special Agent
According to this, a broker may be held responsible for the unlawful actions of his/her salespersons? - Vicarious Liability
This Act made price fixing, group boycotts, market allocation, and tie-in arrangements illegal? - Sherman Anti-Trust Act
Which of the following is required in order for a broker to act as a dual agent? - Advanced informed consent from both the buyer and seller
Personal property is also known as...? - Chattel
Mark owns a single family home. He decides to transfer ownership of the property to his daughter, Nancy; however, the ownership of the property will revert back to Mark upon the death of Nancy's aunt, Martha. Which of the following was created? - Life Estate
Which of the following leasehold estates is open-ended, as it does not have a termination date? - Estate at Will
Which of the following is an example of a fixture...? - Custom book shelves
Which of the following would be considered a trade fixture by a commercial tenant? - Display Case
Which of the following types of easements is obtained by a squatter who uses another's property without the owner's permission? - Easement by prescription
Which of the following must a real estate salesperson carry on them at all times when doing business and show it on demand? - Pocket Card
A claim or charge against the property of another is known as a/an...? - Lien
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Specifications
- School: Chamberlain College Of Nursing
- Course: NURSING
- Subject: New York State
- All documents for this course ›
- Subject code: New York State
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- Date of exam: 2024
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- Section: Examinations
- Made on: 11-20-2023
- Type: .pdf
- Pages: 5
- Language: English
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