New York Real Estate Exam Practice Questions (2025)

New York's real estate salesperson exam has 75 questions and 90 minutes to complete. You need 70% (53/75) to pass. Here are practice questions covering New York-specific and national content.

National Section Questions

Q1: A property generates $60,000 annual gross rent. The gross rent multiplier for similar properties is 12. What is the indicated value? - Value = GRM × Monthly Rent - Monthly rent: $60,000 ÷ 12 = $5,000 - Value: $5,000 × 12 = $60,000 (wait — GRM uses monthly or annual?) - If annual GRM: $60,000 × 12 = $720,000 - Note: The exam will specify annual or monthly. Annual GRM × Annual Rent = Value.

Q2: Which type of deed offers the greatest protection to the buyer? A) Quitclaim deed B) Bargain and sale deed C) General warranty deed D) Special warranty deed

Answer: C — A general warranty deed warrants title against all defects, including those that arose before the current seller owned the property.

Q3: A property has a reproduction cost of $400,000. Depreciation is calculated at 25%. What is the depreciated value? - Depreciated value: $400,000 × (1 - 0.25) = $400,000 × 0.75 = $300,000

New York-Specific Section Questions

Q4: New York real estate license law is found in: A) New York Real Property Law B) New York Real Property Actions and Proceedings Law C) New York Real Estate Law Article 12-A D) New York Business Corporation Law

Answer: C — New York Real Property Law Article 12-A governs real estate brokers and salespersons.

Q5: In New York, who regulates real estate licensees? A) New York Association of Realtors B) Department of State (DOS) Division of Licensing Services C) New York Real Estate Commission D) Department of Financial Services

Answer: B — The New York Department of State (DOS), Division of Licensing Services, regulates real estate brokers and salespersons.

Q6: New York requires salesperson license applicants to complete how many hours of prelicense education? A) 45 hours B) 75 hours C) 90 hours D) 120 hours

Answer: B — New York requires 75 hours of approved prelicense education for salesperson applicants.

Q7: Which disclosure is required in New York at the first substantive contact with a buyer or seller? A) Property Condition Disclosure Statement B) Agency Disclosure Form (Disclosure Regarding Real Estate Agency Relationships) C) Lead Paint Disclosure D) Seller's Disclosure of Property Condition

Answer: B — New York requires licensees to provide the Agency Disclosure Form at first substantive contact with a prospective buyer, seller, landlord, or tenant.

Q8: In New York, a buyer's agent owes which duty to the buyer? A) Obedience to the buyer's lawful instructions B) Disclosure of all material facts known to the agent C) Undivided loyalty to the buyer D) All of the above

Answer: D — A buyer's agent in New York owes full fiduciary duties to the buyer: obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care.

Q9: Under New York law, a salesperson can receive a commission from: A) Either the buyer or the seller directly B) Only the sponsoring broker C) Any party to the transaction D) Only through the Multiple Listing Service

Answer: B — In New York, a salesperson may only receive compensation from their sponsoring broker — never directly from a buyer or seller.

Q10: New York's stigmatized property law: A) Requires disclosure of murders, suicides, and alleged hauntings B) Requires disclosure of murders but not suicides C) Expressly does NOT require disclosure of a psychological defect including death on the premises D) Requires disclosure if the buyer asks directly

Answer: C — New York Real Property Law Section 443-a expressly states that the fact that a property was the site of a death or perceived to be haunted is NOT a material fact that must be disclosed.

Key New York Topics

• Article 12-A: The real estate license law
• DOS: Regulates licensees (not a commission like FREC)
• Agency Disclosure Form: Required at first substantive contact
• Salesperson compensation: Only from broker, never directly from parties
• 75-hour prelicense: Required for salesperson applicants

[Practice New York questions at CARealestate.com/states/new-york](https://carealestate.com/states/new-york)