Free Practice Questions for NY Real Estate
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Key Facts: NY Real Estate Exam
63%
First-Time Pass Rate
NY DOS 2024
1.5 hrs
Exam Time
NY DOS
77 hrs
Pre-License Education
NY DOS
$15
Exam Fee
Lowest in US
1%
Mansion Tax
$1M+ sales
3/20/2024
PCDS $500 Credit Option Ended
NY DOS
New York's salesperson license requires a 77-hour pre-license course and the DOS written exam, which is multiple choice, based on that curriculum, allows 1.5 hours, and reports results only as pass or fail. NY is an attorney-closing state, has unique co-op/condo requirements, strong fair housing protections (NY Human Rights Law), and complex transfer taxes including the $1M+ mansion tax. NYC adds additional requirements.
Sample NY Real Estate Practice Questions
Try these sample questions to review concepts for the NY Real Estate exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 301+ question experience with AI tutoring.
1Which New York state agency is responsible for issuing and regulating real estate licenses?
2How many hours of pre-license education must a candidate complete before taking the New York real estate salesperson exam?
3What is the format of the New York real estate salesperson licensing exam?
4What are the experience and education requirements to obtain a real estate broker license in New York?
5How often must New York real estate licenses be renewed, and how many hours of continuing education are required?
6What is eAccessNY in the context of New York real estate licensing?
7Under New York law, a real estate salesperson must be associated with which of the following to conduct licensed activities?
8Section 441 of the New York Real Property Law (RPL) primarily addresses which of the following?
9Under New York real estate advertising rules, which of the following is required?
10Which of the following persons is EXEMPT from New York real estate licensing requirements?
About the NY Real Estate Exam
The New York real estate salesperson exam covers DOS licensing, NY Real Property Law, attorney review closings, co-op and condo transactions, the NY Human Rights Law, STAR exemptions, transfer taxes, and NYC-specific requirements including mansion tax and rent stabilization.
Exam sponsor: NY DOS (Department of State). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.
Assessment
Question count not published by the exam provider
Time Limit
1 hour 30 minutes
Passing Score
Pass/fail (no numerical score)
Reported exam pass rate: 63%. first-time pass rate (31,200 annual candidates) This describes exam candidates, not OpenExamPrep users or results from using our resources. Exam sponsor website
Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.
Official sources
Our practice resources: topics covered
We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.
License Law and Regulations
License categories and duties, education and renewal, Article 12-A and DOS regulations, discipline, unlicensed assistants, Property Condition Disclosure Act
Law of Agency
Agency and fiduciary duties, seller and buyer agency, consensual dual agency, RPL §443 agency disclosure, listing agreements
Legal Issues
Estates and interests, liens and easements, deeds, title closing and costs
The Contract of Sales and Leases
Leases, contracts, and contract preparation
Real Estate Finance
Mortgages, loan types, discount points, PMI, Truth in Lending, lender criteria
Land Use Regulations
Planning, private land use controls, police power, zoning ordinances and classifications, variances
Construction and Environmental Issues
Building permits, codes and certificates of occupancy, site and structure; lead, radon and indoor air quality
Valuation Process and Pricing Properties
Appraisal, valuation and evaluation, types of value, market value, comparative market analysis
Human Rights and Fair Housing
Federal and New York fair housing law, protected classes, anti-bias training, required disclosure forms
Real Estate Mathematics
Percentages, area, basic mortgage qualifying, transfer and mortgage recording tax, property tax rates
Municipal Agencies
Town and village boards, planning board, zoning board of appeals, building department, other local agencies
Property Insurance
Policy types, standard homeowner coverage, deductibles, escrow of insurance with property taxes
Licensee Safety
Safety at the office, on the road and when meeting clients at properties; risk reduction
Taxes and Assessments
Assessed value, tax rates, taxing jurisdictions, exemptions including STAR, assessment review, tax liens
Condominiums and Cooperatives
Condominium and co-op ownership, offering plans, sponsors, board packages and interviews
Commercial and Investment Properties
Investment property types, net operating income, cash flow, capitalization, commercial leases and escalation clauses
Income Tax Issues in Real Estate Transactions
Residence sale exclusion, capital gains, depreciation, like-kind (1031) exchanges
Mortgage Brokerage
Mortgage brokers versus mortgage bankers, dual agency disclosure under the Banking Law
Property Management
Management agreements, property manager skills and duties, budgets and reports
Preparing for the NY Real Estate Exam
What You Need to Know
- Passing score: Pass/fail (no numerical score)
- Assessment: Question count not published by the exam provider
- Time limit: 1 hour 30 minutes
- Exam / certification fees: $15 Official sources
Using Our Practice Resources
- Work through all 301 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
NY Real Estate: Suggested Study Strategy
Frequently Asked Questions
How hard is the New York real estate exam?
The DOS salesperson exam is multiple choice and based on the 77-hour pre-licensing curriculum, with 1.5 hours to finish. DOS reports results only as pass or fail and does not publish a question count or a numerical passing score. NY-specific topics like co-op transactions, attorney closings, and the Human Rights Law are part of that curriculum.
Can a New York seller give a $500 credit instead of the property condition disclosure?
No. Since March 20, 2024, the option to skip the Property Condition Disclosure Statement by giving the buyer a $500 credit is gone. A seller covered by the Property Condition Disclosure Act must deliver the statement before the buyer signs a binding contract of sale.
What is the mansion tax in New York?
New York charges a 1% mansion tax on residential property sales of $1 million or more. In NYC, there's a progressive mansion tax ranging from 1% to 3.9% for properties over $25 million. The buyer pays the mansion tax.
What are co-op board packages?
NYC co-op purchases require extensive board approval packages including financial statements, tax returns, reference letters, and a personal interview. The board can reject buyers for any reason except protected class discrimination under the NY Human Rights Law.