Principal is a person who bound by an agency relationship to represent their client. For the broker exam… Loan origination fee divided by mortgage amount equals the loan origination percentage. Our New York real estate practice exams are written by a Licensed Real Estate … $2,775 / $370,000 = .0075 or .75%. Take this test … and all of our other tests until you get every answer right. Planning boards plan for the region's future considering the available natural and supplied resources of the community. A managing agent has more power than a property manager, including the ability to use their judgment and discretion in matters affecting the property. By default the file name will be: 100-question-real-estate-practice-test.pdf. Living in New York is the dream of most Americans due to the opportunities it has and how it is welcoming to outsiders with the promise of growth. We are totally confident our program will help you pass, we offer a 100% Pass Money-Back Guarantee! A mortgage is an example of a(n): An executory contract is a contract that has terms to be completed at a later date. A uniform percentage is applied that varies by tax jurisdiction and could be any percentage below 100%. Leverage may increase or decrease an investor’s return than if paid in all cash. Elderly persons were not added to law. Hence you can not start it again. At least two parcels of property are pledged as collateral. 1005 718 275-0003 ©2010 The … Quickly memorize the terms, phrases and much more. Another name for a header is lintel. New York Real Estate Salesperson Exam Preparation & Registration. As a result, the building’s value has been decreasing. 0% Complete Free Practice Test … The actual exam has 75 questions and you are given 90 minutes to complete it. If you fail the exam, you can schedule another exam by utilizing your account in eAccessNY. In general, you should expect around 100-150 multiple choice questions. Other types of income are portfolio income; interest, dividends, annuities or royalties and passive income; earnings derived from trade or business where taxpayer is not an active participant and rental activities. Otherwise, sex offenders are not permitted to hold a real estate license. Assessed value is documented in local tax records and is reviewed every one to two years by the municipality. An easement in gross is also known as a commercial easement in gross and is typically possessed by governments and utilities for providing services to the public such as electrical lines across another’s property. To compute the loan to value ratio, which is the ratio of the loan balance to the property value, you divide the loan balance by the market value. Paula enters into a contract for the purchase of Jordan’s home. The property receiving the benefit of the easement is the dominant estate, while the property that is providing the benefit or suffering is the servient estate. No previous experience is required to apply for a salesperson’s license. NY Real Estate Study Guide and Practice Questions. Building additions usually require a CO. A building inspector performs an inspection before the CO is issued and also checks properties for violations. Incorrect answer. While the examinee may feel that more than one answer has some element of correctness, the examinee must be able to eliminate the incorrect responses and choose the correct answer. It is not fully performed until all acts required are completed, such as a mortgage. All Rights Reserved, A steakhouse on the first floor and offices on the second floor of a building, A shipping warehouse adjoining an office suite center, A religious prayer facility with residential housing above it, An outlet center with clothing and furniture stores, A person who is a convicted sex offender is permanently barred from real estate, A person who is a convicted of a sexual offense in another state can hold a license in New York, If the sex offender obtains a pardon, she can obtain a license, There are no restrictions on licensure if the criminal sentence has been completed, It added persons with mental disabilities, It added persons with physical disabilities, 5 Steps How to Become a Real Estate Agent in New York, Pass the New York Real Estate Exam - $79.95, https://www.dos.ny.gov/licensing/re_salesperson/re_salesperson.html, https://www.dos.ny.gov/licensing/re_broker/re_broker.html, Home - Real Estate Exam Prep - 1,000 Real Estate Practice Exam Questions, About Us - Learn How To Pass The Real Estate Exam - Real Estate Practice Exams. 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