NY Real Estate State Exam (Multi
Choice) Already Passed
An agency relationship is determined by:
a) the source of compensation
b) how well the parties know each other
c) agreement between the principal and the agent
...
NY Real Estate State Exam (Multi
Choice) Already Passed
An agency relationship is determined by:
a) the source of compensation
b) how well the parties know each other
c) agreement between the principal and the agent
d) first substantive contract ✔✔c) agreement between the principal and the agent
Heat from outside air is utilized through a:
a.reverse conditioner
b.passive solar system
c.heat pump
d.cold air return ✔✔c) heat pump
An automatic renewal clause in a lease is.
a.is not allowed on rent-stabilized apartments
b.is granted every tenant in a building with four or more units
c.is illegal in New York State
d.requires notice from the landlord calling the tenants attention to the clause. ✔✔d) requires
notice from the landlord calling the tenants attention to the clause.
When listing a property, ABC Realty best protects its chances of earning a commission if the
listing is a:
a.exclusive-right-to-sell listing
b.for sale by owner
c.exclusive-agency listing
d.open listing ✔✔a) exclusive-right-to-sell listing
Real Property Law section 443 disclosure requirements apply only to:
a.sale or lease of one to four-unit residential properties
b.all types of real estate transactions
c.mortgage financing arrangements
d.commercial properties ✔✔a) sale or lease of one to four-unit residential properties
An agency relationship is determined by
a.the source of compensation
b.how well the parties know each other
c.agreement between the principal and the agent
d.first substantive contact ✔✔c) agreement between the principal and the agent
In a single agency agreement in which a broker represents a seller
a.the buyer is the client
b.the seller is the client
c.the seller is the customer
d.the buyer is a subagent ✔✔b) the seller is the clien
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