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Review Questions For The New York Real Estate Exam Includes 500 Accurate And Verified Content Covering State- Specific Topics Such As License Law, Agency Disclosure, Property Ownership, Contracts, Real Estate Finance, Environmental Issues, Fair Housing, And Closing Procedures. Ideal For Candidates Preparing For The Salesperson Or Broker Licensing Exam Administered By The New York Department Of State (DOS).
Which of the following form is listed a comparison of properties which have been sold recently and those currently listed for sale? - ANSWER-CMA form
The rental of the entire rentable portion of the floor space is? - ANSWER-Loft lease
A heating system consist of a furnace that contains a fan or blower. The warmed air flows through ducks to various rooms.This heating system is called? - ANSWER-Forced warm air system
The legislative power of a city is vested in? - ANSWER-The city council 1 / 4
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The main function of a city or town planning board is to advise on? - ANSWER-Land use matters
Which of the following government agencies may grant a variance? - ANSWER-Zoning board of appeals
Xavier is seeking information about constructing a property near a wetland. He can find information and guidance from which of the following? - ANSWER-Conservation advisory council
Building permits cannot perform, which of the following? - ANSWER-Rule of variance applications
The document containing each properties assessment in the municipality is the? - ANSWER-Assessment roll
In some cities in towns, the official or agency that collects fees for water usage and other permits is the? - ANSWER-Receiver of taxes
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The New York State agency that oversees wetland regulations is the? - ANSWER-Department of environmental conservation
A town or Village planning board consist of how many members? - ANSWER-5 to 7
Mary wants more information about renovating his historic property. Which agency would be least likely to be involved in this process? - ANSWER-Conservation advisory council
A clause an insurance policy that modifies or changes the insurance policy in someway is known as a? - ANSWER- Endorsement
Insurance obtained to the New York property insurance underwriting ass association can be undesirable because? - ANSWER-The premiums are higher than those were obtained through the voluntary market
The national flood insurance program is administered by? -
ANSWER-FEMA
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According to New York State law, which of the following deductibles must be disclosed to the insured? - ANSWER- Windstorm
As long as the insurance company states, the reason for cancellation, an insurance policy may be canceled within how many days?? - ANSWER-60
The cost of a homeowners policy is directly related to which of the following? - ANSWER-The policyholder and the property only
The amount the insured must pay towards a claim before receiving any policy benefits is called a? - ANSWER-Deductible
An excess liability policy, providing additional coverage above that offered by primary policies is called a? - ANSWER- Umbrella policy
The insurance policy contract, the basic coverage is outlined in which part of the policy? - ANSWER-Declaration page
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