NY Real Estate State Exam Multi Choice

NY Real Estate State Exam (Multi Choice)

NY Real Estate State Exam (Multi

Choice)

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