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New York Real Estate Practice Exam

Practice for your NY Real Estate Exam Here! These questions are updated for the 2024 real estate exam.

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Question 1 of 47

1. Question
When a broker’s license has been revoked for a violation of the license law in New York, which of the following would be true?
- The broker may pay a fine and sign an irrevocable consent form to have his/her license reinstated.
- The broker may appeal the action.
- The broker's salespeople may continue business for 90 days since they were not responsible for the violation.
- The broker may continue business for 90 days if s/he posts a bond with the Department of State.
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Question 2 of 47

2. Question
The Bartletts are Yonkers homeowners who have a coinsurance clause. This clause may penalize them if they do not carry insurance for at least what part of the replacement cost of their $130,000 home?
- At least $65,000
- At least $104,000
- At least $97,500
- At least 100 percent
Correct

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Question 3 of 47

3. Question
Which of the following is true of the display of licenses in a New York broker’s office?
- All brokers' licenses must be displayed
- Only the principal broker's license must be displayed
- All salespersons' licenses must be displayed
- Both brokers' and salespersons' licenses must be displayed
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Question 4 of 47

4. Question
Mitch is an out-of-state broker who would like to have a New York license although he does not plan to relocate. What must he, as a non-resident, do to obtain the license in New York?
- Post a bond of $5,000
- Maintain an office in New York
- Secure a New York attorney as a sponsor
- File an irrevocable consent form which submits him to the jurisdiction of the courts of New York
Correct

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Question 5 of 47

5. Question
When does the seller receive the buyer’s earnest money that is on deposit in a brokerage trust account?
- Upon conveyance of the property.
- At the time of offer
- When the offer is accepted.
- Within a reasonable period of time after the property has been transferred.
Correct

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Question 6 of 47

6. Question
Which of the following words should be avoided in the policy and procedures manual for an independent contractor in New York?
- Discrimination
- Terminate
- Ethics
- Must
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Question 7 of 47

7. Question
Which of the following would be an example of a blind ad in New York?
- Expansive ranch house great for growing families. 4 bedrooms 2.5 baths, eat-in kitchen, rec room. All for only $275,000. Contact broker Jim Hudson at 232-8967 to see this property today
- 512 Worthington Lane. 2 story brick colonial. Broker: Ross Williams, 892-6836.
- Two-family flat on Beard St. only $179,000, reduced. Fenced lawn, many updates, good school district. Call today for a showing: 783-9295.
- Cute starter home at 202 South Woodlawn Drive. 2 bedrooms, 1 bath, many updates and amenities. Asking price only $98,000. Contact Jeanne Lowe at 481-9293. Broker: Mark Ryan.
Correct

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Question 8 of 47

8. Question
Which of the following pieces of information must be disclosed to a potential buyer in the state of New York?
- There is a Church of Latter Day Saints five blocks away.
- The former owner was a member of a cult.
- The property is within an agricultural district
- There is a group home a mile away.
Correct

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Question 9 of 47

9. Question
Although he doesn’t have a New York real estate license, Duane contacts homeowners by phone to assist Kyra (a real estate broker) in locating prospective sellers. Kyra pays Duane $30 for each lead. Is this a violation of the license law?
- No, because the stipend is less than $50.
- No, as long as there is no cease-and-desist order.
- Yes, because solicitation is prohibited.
- Yes, because Kyra compensates Duane for his efforts.
Correct

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Question 10 of 47

10. Question
A New York real estate salesperson must meet all of the following requirements except which one?
- A minimum of 2 years' experience in Real Estate
- Supervision by a sponsoring broker
- Licensed by the state of New York
- Minimum age of 18
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Question 11 of 47

11. Question
Public records in New York are open to inspection by which of the following parties?
- Only New York attorneys and abstractors
- Only attorneys, abstractors, and real estate licensees
- Anyone who has obtained permission under the Freedom of Information Act
- Anyone, at any time
Correct

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Question 12 of 47

12. Question
Which of the following may an MLS regulate in New York?
- Membership fees
- Brokers' schedules
- Affiliate memberships in another MLS
- Properties offered through the network
Correct

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Question 13 of 47

13. Question
Oak Street is in a zone that permits no more than 4 studio apartments per building. Hank Truman owns a house on Oak Street that has 8 studio apartments. What course of action is open to him?
- He can prove that the house has been used that way since before the zoning ordinance was instituted
- He can assert that the zoning ordinance is unreasonable
- He can demonstrate that the existence of 8 studio apartments is in the best interests of the neighborhood.
- He can provide a deed that specifically lists approval of 8 apartments within the building
Correct

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Question 14 of 47

14. Question
The Weavers are purchasing their first house in Elmira and are looking at the types of home owners’ insurance they can purchase. Their insurance agent has outlined the costs for general insurance as well as flood insurance. Their loan officer may require them to purchase the flood insurance if which of the following criteria is met?
- If they are purchasing a multi-family dwelling
- If they will be obtaining an FHA or VHA loan
- If they are planning to have title insurance
- If the property they purchase is located in a flood zone on a special map
Correct

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Question 15 of 47

15. Question
When earnest money is left on deposit with a broker or lawyer, which of the following is true?
- It is a credit to the buyer
- It is a debit to the buyer
- It is a debit to the seller.
- It is a credit to the seller
Correct

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Question 16 of 47

16. Question
The Shermans sold their upstate New York home to Rachael Wilson for $175,000. If Rachael assumed the existing mortgage of $92,340, approximately what would the transfer tax paid by the seller amount to on the sale?
- $187
- $562
- $700
- $406
Correct

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Question 17 of 47

17. Question
How would you compute the transfer tax on the following property in Pelham: a house appraised at $100,000 with an existing mortgage of $17,000 is transferred from a mother to her son.
- 10% of the existing mortgage
- 10% of the appraised value of the house
- 10% of the difference between the appraised value and the mortgaged value
- There is no transfer tax in this situation.
Correct

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Question 18 of 47

18. Question
Amanda Bauer has searched public records for documents pertaining to a property she wishes to buy in Cayuga County. She has learned that the seller was the grantee in the last recorded deed and no mortgage or lien against the property was on record. Which of the following may she assume?
- The seller did not mortgage the property
- No one else currently occupies the property
- The title is good.
- All taxes on the property are paid.
Correct

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Question 19 of 47

19. Question
Joe Ryba is an abstractor in Goshen. Which of the following best describes his work?
- After surveying the property history documents, he insures the condition of the title.
- He inspects county records and writes a brief history of the title
- He personally inspects a property and issues a certificate of title
- He examines all public records regarding a property and files a summary of constructive notice for buyers to read.
Correct

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Question 20 of 47

20. Question
Vicarious liability is a term that refers to which of the following?
- The supervisory responsibilities of the broker
- Failure to disclose type of agency
- Guidelines governing an independent contractor's actions
- A principal's responsibility for the agent's actions
Correct

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Question 21 of 47

21. Question
Which of the following individuals does not need to hold a real estate license in New York?
- An individual who sells strip shopping centers
- An individual who sells land at auctions
- An individual who sells condominiums
- An individual who sells mobile homes
Correct

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Question 22 of 47

22. Question
Inspectors or auditors from which of the following offices periodically visit a New York real estate office?
- FTC
- MLS
- EPA
- FHA
Correct

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Question 23 of 47

23. Question
New York brokers must meet all of the following criteria except which one?
- Be of the appropriate age
- Recognized as a REALTOR®
- Possess a broker's license
- Experience in the field
Correct

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Question 24 of 47

24. Question
Twenty-one year-old Evan Rousse is a recent college graduate. He has worked in general real estate throughout his degree program but has not previously been licensed as a real estate salesperson. Is he eligible to apply for a real estate broker’s license in New York?
- No, without previous licensure as a salesperson, he is not eligible to become a broker
- Yes, as long as he has sufficient real estate experience
- No, because a broker candidate must have at least five years' experience in the field.
- Yes, but only if his degree is in real estate.
Correct

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Question 25 of 47

25. Question
Angie is a new salesperson in a Bronx realty company. She is about to file her first income tax return since she earned her license. Which of the following is unnecessary if she wishes to claim self-employment expense deductions on IRS Form 1040 Schedule C?
- She must be responsible for paying her own Social Security, state taxes, and federal taxes
- She must have, in writing, an independent contractor agreement signed by her broker
- She must keep detailed records of the expenses she incurs
- She must earn a maximum commission of five percent per sale.
Correct

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Question 26 of 47

26. Question
A builder of new homes in central New York has a contract with a distributor to provide fixtures for the new homes. Buyers are only permitted to select their fixtures from among those offered by the cooperating distributor. What type of antitrust violation does this exemplify?
- Market allocation
- Group boycotting
- Price-fixing
- Tie-in arrangement
Correct

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Question 27 of 47

27. Question
How is an independent contractor in New York normally compensated for their work?
- By salary, with commissions as a bonus
- By salary, no commissions
- Hourly according to hours logged, plus commissions
- By commissions on sales
Correct

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Question 28 of 47

28. Question
Any New York salesperson who is an independent contractor may be required to do which of the following?
- Commit verbally to a contract
- Establish a regular schedule
- Comply with Article 12-A of Real Property Law
- Agree to a regular salary
Correct

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Question 29 of 47

29. Question
Who sets a real estate salesperson’s compensation in New York?
- Cooperating broker
- The Division of Licensing Services of the Department of State
- Agreement between broker and salesperson
- Local realtors
Correct

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Question 30 of 47

30. Question
For which of the following activities would Maria, a New York resident, need a real estate license?
- To facilitate the sale of a house as executor of her father's will.
- To receive a gift from a co-worker who is grateful for Maria's assistance in finding his new home and negotiating the sale on his behalf.
- To advise her brother about residential property market pricing strategies.
- To write leases for the tenants of an apartment building she owns.
Correct

Incorrect
Question 31 of 47

31. Question
To whom does the right of escheat apply?
- To a party who has not paid taxes as due
- To the state of New York
- To a deceased person with a will and no natural heirs
- To a developer's dedication of property
Correct

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Question 32 of 47

32. Question
When the state of New York is dealing with uncooperative property owners and chooses to use its right of eminent domain to obtain private property for public projects, what is the court proceeding called?
- Condemnation
- Inverse Condemnation
- Downzoning
- Escheat
Correct

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Question 33 of 47

33. Question
What is the primary concern of the New York State Navigation Law?
- Niagara Falls
- Barge Canal system
- Environmental cleanups
- Long Island ferry traffic
Correct

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Question 34 of 47

34. Question
Effective deed restrictions imposed by the grantor of real estate in New York State may forbid which of the following?
- Renting the property to a member of a particular religious group
- Dividing the property into small building lots
- Selling the property in the future
- Obtaining a mortgage for the property
Correct

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Question 35 of 47

35. Question
Which of the following sales may NOT take place in New York without a valid real estate license?
- Sale of land by an auctioneer
- Sale of a person's own property
- Foreclosure sale ordered by the court.
- Sale of property by a person's attorney.
Correct

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Question 36 of 47

36. Question
The supervision of real estate licenses in New York is under the auspices of which entity?
- The Association of Real Estate Licensing Law Officials
- The New York State Association of Realtors
- The Real Estate Board of New York
- The New York Department of State
Correct

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Question 37 of 47

37. Question
An individual who violates the license law and is convicted of a misdemeanor in New York may be subject to which of the following punishments?
- Up to a year in jail and a fine of up to $500
- A fine of up to $500
- Up to a year in jail plus a fine of up to $1,000
- Up to a year in jail
Correct

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Question 38 of 47

38. Question
Which of the following may an associate broker do in New York?
- Collect his or her own fees directly from buyers and sellers
- Serve as principal broker for another associate broker
- Work for a principal broker as a salesperson
- Sponsor someone for a real estate salesperson's license
Correct

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Question 39 of 47

39. Question
Dan Sage helps businesses in downstate New York sell all of their holdings, including real estate, personal property, and other assets. Must he have a real estate license?
- Yes, because he is selling real estate.
- No, because real estate constitutes only a portion of his business
- Yes, if more than half of the value of a client's business is in real estate
- No, he needs to have a commercial sales license instead.
Correct

Incorrect
Question 40 of 47

40. Question
Emily Bauer facilitated a transaction which was found to be in violation of the New York license law. What penalty may she face in addition to having her license suspended?
- She may be held liable for both the buyer's and the seller's costs for the transaction
- She may be held liable for up to 4 times the amount of the commission she received for the transaction
- She may be held liable for the seller's costs for the transaction.
- She may be held liable for the buyer's costs for the transaction.
Correct

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Question 41 of 47

41. Question
Which of the following categories of listings is illegal in New York State?
- An exclusive right-to-sell listing
- A net listing
- An exclusive agency listing
- An open listing
Correct

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Question 42 of 47

42. Question
How is the amount of a commission determined in New York?
- It is negotiated between real estate agent and client.
- It is set by law
- It is the amount of money over the net listing amount.
- It is set by custom for the locale.
Correct

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Question 43 of 47

43. Question
How should the deed be recorded if a Manhattan resident purchases an investment property in Nassau county?
- The deed need not be recorded since the property is for investment and not residence.
- The deed should be recorded in the Manhattan where the owner lives.
- The deed should be dually recorded in both the owner's Manhattan and Nassau County.
- The deed should be recorded in Nassau County where the investment property is located
Correct

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Question 44 of 47

44. Question
How does the old adage caveat emptor apply to the purchase of a New York property with faulty title?
- Responsibility for the situation lies with the abstractor.
- Responsibility for the situation lies with the broker
- Responsibility for the situation lies with the seller.
- Responsibility for the situation lies with the buyer.
Correct

Incorrect
Question 45 of 47

45. Question
When a mortgage reduction certificate is issued in New York, who is the issuing body?
- The attorney
- The lending body
- The abstract company
- The grantor
Correct

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Question 46 of 47

46. Question
For what period of time are real estate licenses usually valid in New York?
- 10 years
- 5 years
- 2 years
- 3 years
Correct

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Question 47 of 47

47. Question
From whom may a New York real estate licensee accept a bonus?
- A sponsoring broker
- An appreciative seller
- An appreciative buyer
- A fellow salesperson
Correct

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We Also Have Some Free National Questions As Well

Frequently Asked Questions

How to Study For The New York Real Estate Exam

We can assume that you do understand the best way to pass your NY real estate exam is to fully understand the material. So, how do we practically do that?

Take real estate practice exams over the course of 1-3 months depending on your knowledge level.
Watch YouTube videos of real estate exam prep teachers. They are awesome and they are free! We have quite a few but there are other great teachers as well.
Memorize all the real estate vocabulary. This should be common sense, but make flashcards and just go over them until you know them all.

How many times can you take the NY real estate exam?

New York does not have a limit on how many times you can take the exam. Our inside sources at the testing center tell us there was one girl who took the test 25 times before she passed!

How many questions are on the New york Real Estate Exam?

We have interviewed sources inside the testing venter and the New York Real Estate Commission ,there are 150 multiple-choice questions (80 national and 70 State) on the New York Real Estate Exam.

Is the New York Real Estate Exam hard?

If I told you there was a test in existence that only 49% of people pass, would you say that is probably a hard exam?
Surprise, that is the shocking pass rate of people attempting to pass the real estate exam in New York.

The good news is, the people passing the real estate exam are using a real estate exam test prep (like us!) and their pass rate goes to 91.2%.

How much is the New York real estate exam?

Exam fees must be paid in advance with a credit card or a debit card. You can’t pay at the testing center. There are a few different fees involved you are responsible for. For the first attempt at the New York Real Estate Exam, you are expected to pay $65 for the application and $15 for the exam fee.

What Questions Are On The New York Real Estate Exam?

If you review the real estate exam person candidate guide located on the New York Real Estate Commission website, they list the following. Also, often conduct exit interviews with our prior students to confirm what questions are on the New York R.E. Exam as well as insure the below is accurate.

The exam breakout is as follows:

1. Property Ownership – 8%-10%

2. Land Use Controls & Regulation – 5%

3. Valuation & Market Analysis -7%

4.Financing – 8% to 10%

5. General Principles Of Agency – 11% to 13%

6. Property Disclosures – 7%

7. Contracts – 17% – 18%

8.Leasing & Property Management – 3% – 4%

9. Transfer Of Title – 7%-8%

10. Practice Of Real Estate – 11%

11. Real Estate Math – 5% – 7%

What Score Do I Need On The New York Real Estate Exam To Pass?

The passing score of an examination was set by the New York Real Estate Commission after a comprehensive study was completed for each examination.

The examination score is reported as a scaled score on a scale of 0-100. It should not be interpreted as the percentage or number of questions answered correctly on the examination. The passing point is reported as a score of 70 for the salesperson examination and 75 for the broker examination.

With a passing score of 70 or 75, any score below 70 or 75 indicates how close the candidate came to passing, rather than the actual number or percentage of questions the candidates answered correctly

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