NEW YORK REAL ESTATE EXAM LATEST

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NEW YORK REAL ESTATE EXAM LATEST 2025 / 2026

ACTUAL EXAM WITH COMPLETE QUESTIONS AND

CORRECT DETAILED ANSWERS (100% VERIFIED

ANSWERS) |ALREADY GRADED A+| || LATEST

EXAM!!! ||BRANDNEW!!!||

Which of the following is not a fiduciary duty that a real estate agent owes to a client?

• Principal b. Obedience c. Accountability d.

Confidentiality - Answer-a. Principal

Fiduciary duties include Obedience (obey reasonable and legal instructions), Loyalty (diligence to serve the best interests of the client), Disclosure (promptly communicate all information about the transaction), Confidentiality (cannot disclose information given in faith and trust without the permission of the client), Accountability (financial accountability including accurate record keeping) and Reasonable Skill and Care (agents possess the necessary skills and training to perform the requested services).Principal is a person who bound by an agency relationship to represent their client.

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A special agent is authorized to do the following:

• to represent the principle in a broad range of general

matters. b. to act as a Power of Attorney in a real estate transaction. c. to act on behalf of the principal in specific transactions. d. to represent an agent for cooperation and compensation. - Answer-c. to act on behalf of the principal in specific transactions.

Which of the following statements on leasehold estates are true?

• A leasehold estate is for a limited time. b. A leasehold

estate grants possession, but not title. c. A and B are true

• Neither A nor B are true - Answer-c. A and B are true

A leasehold estate grants temporary right of possession to a property without title for a defined amount of time. The title stays with the landlord. The owner of a leasehold estate is a lessee or tenant and has exclusive right of use.

Which of the following is not an essential element of a lease? 2 / 3

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• A formal, legal description of the property. b. A lease

term c. A clause addressing when the tenant is takes possession of the property. d. Signatures of the lessee and lessor. - Answer-a. A formal, legal description of the property.

A lease does not require a legal description. A street address or other informal reference as to the location of the property may be used as long as both parties are in agreement and have a clear understanding of its location.Additionally, apartment or building numbers should be used if more than one unit share the same street address.A lease term, specified rent, date of possession and the signature of the parties are elements of a lease.

If the loan-to-value ratio is .85 and the purchase price for a property is $250,000. What is the amount the buyer is mortgaging?

• $37,500 b. $212,500 c. $221,500 d. $294,117 -

Answer-b. $212,500

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