exam

Question 1

schedule c as independent _____

Answer 1

contractor

Question 2

attorney is not exempt from having a sales license if they sponsor a sales ____

Answer 2

agent

Question 3

the customer that hires the ________ becomes the client

Answer 3

sales agent/broker

Question 4

special agent is a

Answer 4

real estate agent

Question 5

general agent is a property

Answer 5

manager

Question 6

accountability is the fiduciary that is ____ when a broker is comingling

Answer 6

violated
dual agency
disclosure from at 1 st substantive contact

Question 7

exclusive right to

Answer 7

sell

Question 8

tenancy in common survivor___

Answer 8

ship

Question 9

joint tenancy in no survivor___

Answer 9

ship

Question 10

water

Answer 10

ny state health department is responsible for drinking ____

Question 11

ny county health dept is responsible for the ___

Answer 11

septic

Question 12

mortgage banker licensed with ny state banking

Answer 12

dept

Question 13

ho4 covers renters and homeowners

Answer 13

insurance

Question 14

flood insurance is purchased

Answer 14

seperately

Question 15

riparian rights

Answer 15

land by river stream

Question 16

when a broker acts in the best interest of the party that is opposite her client this is a situation of what

Answer 16

undisclosed dual agency

Question 17

who determines license laws

Answer 17

department of state

Question 18

who oversses water law

Answer 18

department of state

Question 19

whawt is the slope of a roof

Answer 19

pitch

Question 20

what is a wraparound laon

Answer 20

KIND OF SECOND MORTGAGE

Question 21

what age to sign a deed

Answer 21

18

Question 22

what age to sign a contract

Answer 22

18

Question 23

what age to become a salesperson

Answer 23

18

Question 24

for a contrac tot be valid it must be

Answer 24

written and signed1

Question 25

what is the borrowr called

Answer 25

mortgagor

Question 26

cash on cash 2 million 500,000 down 15,00 per month income

Answer 26

coc is 36%

Question 27

who does not haver a property tax exemption

Answer 27

second homeowner

Question 28

if a superintedent fixes a broekn facucet that is what kind of maintance

Answer 28

corrective

Question 29

to find the actual cost of occupied sq ft you must calculate tho

Answer 29

usable square footage vs rentable sq footage

Question 30

if a house burned in a fire what types of insurance will cover the complete cost of belongigns

Answer 30

replacement cost

Question 31

who signs the deed

Answer 31

the grantor

Question 32

who licenses mortggage broekrs

Answer 32

the dept of banking

Question 34

the cma is never refeered to as

Answer 34

an appraisal

Question 35

who can a salesperson collect comission from

Answer 35

the supervising broker

Question 36

who can a salesperson collect commission from

Answer 36

the supervising broker

Question 37

who licenses mortagage brokers

Answer 37

the dept of banking

Question 38

who licenses mortgage brokers

Answer 38

the dept of banking

Question 39

if a superintedent fixes a broekn fauce that is what kind of maintance

Answer 39

correctibve

Question 40

appraisal

Answer 40

the cma is never reffered to as

Question 41

the cma is never refered to as an

Answer 41

aapraisal

Question 42

violations in ny real property law consiidered

Answer 42

misdemamor

Question 43

situation where byer receives financial ssitance with down payment and in exhcnage gives up share in profits

Answer 43

shared equity mortgage

Question 44

situation where buyer receives financial assisttance wiuth down payment and in exchange gives up share in profits

Answer 44

shared equity mortgage

Question 45

when money plentiful interest ratesa go

Answer 45

up

Question 46

when money is plentiful interest rates go

Answer 46

up

Question 47

there are nver exceptions from fair housigng laws in

Answer 47

rtace

Question 48

lease of unfinsihed ope space

Answer 48

loft

Question 49

leas of storage or warehouse space that is unfished and not divided into rooms

Answer 49

net lease

Question 50

how long must a salesperson wait to renew their license after it has been revoked

Answer 50

one year

Question 51

if beth purchased a property that gave her an easement to cross a driveway to get to a bench, what is the type of easement

Answer 51

easement appurtenant

Question 52

what act regulates cfc

Answer 52

clean air act

Question 53

what gov agency ensures clean water

Answer 53

health department

Question 54

health department is responsible for approving septic and other santion

Answer 54

systems

Question 55

there is a lovely the4ater from the 1800s the neighbrhood want to keep its authenticity which agency should they aprpoach

Answer 55

landmark prservation comissionwhat is

Question 56

what is the term described in the profits after taxes

Answer 56

net operating incomes

Question 57

what is the term described in the profits after taxes

Answer 57

net operating incomewh

Question 58

what is the term described in the profits after taxes

Answer 58

net operating income

Question 59

what is an agent called that always represents the purchaser

Answer 59

buyers agentwhat

Question 60

what is a broker called that always represents the purhcaser

Answer 60

byers brokers

Question 61

what can the broker pay for for their agents

Answer 61

telephoneswhat

Question 62

is the report that shows what proeprties have been sold recently similar proerpties in the area expired listeing

Answer 62

comparative market analysis

Question 63

who signs the contract first

Answer 63

BUYER

Question 64

WHAT IS IUT CALLED WHEN YOU USE OTHER PEOPLES MONEY

Answer 64

LEVERAGE

Question 65

AT CLOSING THE ALLOCATING OF TAXES MAINTENCANCE ETC IS WHAT

Answer 65

PRORATION

Question 66

WHAT documents valids a proprietary deed

Answer 66

shares of stock in corporation