20 Free New York Real Estate Practice Questions

Question 1

Which of the following persons may collect a fee for real estate brokerage services in New York WITHOUT a real estate license?

Question 2

A broker's firm represents the seller of a house, and one of the firm's salespersons is now working with a buyer who wants to make an offer on it. Under New York law, the firm may act as a dual agent:

Question 3

A buyer is purchasing an apartment in a Manhattan cooperative. At closing, the buyer will receive:

Question 4

A salesperson representing the owner of a retail storefront speaks by phone with a business owner who is interested in leasing the space. Which statement about the New York Housing and Anti-Discrimination Disclosure Form (DOS-2156) is TRUE?

Question 5

A landlord in Buffalo refuses to rent to an applicant because the applicant will pay part of the rent with a housing voucher. This violates:

Question 6

A house in Albany sells for $525,000. What is the New York State real estate transfer tax, and who normally pays it?

Question 7

A buyer purchases a single-family home in Westchester County for exactly $1,000,000. How much mansion tax is due, and who pays it?

Question 8

A tenant in a Rochester apartment moves out on June 1 and leaves the unit with some damage. Under New York law, the landlord must:

Question 9

A tenant's monthly rent is $2,000 and the rent is 7 days late. What is the maximum late fee the landlord may charge?

Question 10

In 2026, the seller of a two-family house in Queens tells the listing agent she would rather give the buyer a $500 credit at closing than fill out the Property Condition Disclosure Statement. The agent should advise her that:

Question 11

Two friends, who are not married to each other, buy a house together. The deed names them both but says nothing about the form of ownership. They own the house as:

Question 12

Under New York law, how long must a person openly, continuously and adversely possess another's land to acquire title by adverse possession?

Question 13

Which statement about mortgages in New York is correct?

Question 14

An owner wants to open a dental office in a district zoned only for single-family homes. To do so without a rezoning, the owner must obtain:

Question 15

A seller is listing a single-family home built in 1975. Under federal law, which of the following is required?

Question 16

A home sells for $480,000 with a 6% commission split equally between the listing and selling brokers. The selling salesperson receives 60% of the selling broker's share. How much does the salesperson earn?

Question 17

A home is assessed at $180,000. The tax rate is $32.50 per $1,000 of assessed value. What is the annual tax?

Question 18

An apartment building produces net operating income of $240,000. Similar buildings are selling at an 8% capitalization rate. What is the indicated value?

Question 19

A retail lease calls for base rent of $90,000 per year plus 5% of gross sales above the natural breakpoint. What is the natural breakpoint?

Question 20

A married couple filing jointly sells the home they have owned and lived in for 3 years, realizing a $420,000 gain. How much of the gain is taxable?