Question

 

81. “Let’s not do business with AVC Real Estate Company; they discount their commission” is an example of what?

1. Price fixing

2. Boycott

3. Market allocation

4. Tying agreement

82. What is another name for a like-kind exchange?

1. Section 1231 exchange

2. Tax-free exchange

3. Section 1031 exchange

4. Business property exchange

83. Why are UST’s a possible environmental threat?

1. They release toxic fumes into the air

2. They are illegal

3. They are not regulated in NY

4. The contents can leak into the soil

84. Which of the following is true regarding mortgage bankers?

1. They primarily connect borrowers to third party lenders

2. They are exempt from licensure by state regulators

3. They must be licensed by the NY banking department

4. They may not simultaneously hold a real estate license

85. A loan that specifies a specific time at which the interest rate may change is known as which?

1. Subprime loan

2. ARM loan

3. Index

4. Straight loan

86. Which of the following will not terminate a lease?

1. Death of the tenant

2. Expiration of the lease period

3. Landlord default

4. Mutual agreement

87. Which of the following renovations would not be considered an alteration by the ADA?

1. Installing a new display counter

2. Replacing fixtures or flooring

3. Replacing an entry door  

4. Repainting a wall

88. Which term best describes the relationship of a cooperating broker to the listing broker’s seller?

1. Employee

2. Primary agent

3. Subagent

4. Independent contractor

89. What percentage of the loan does PMI insure to protect the lender in case the borrower defaults on the loan?

1. Top 30%

2. Top 40%

3. Top 50%

4. Top 60%

90. Which of the following is a prohibited activity for an unlicensed assistant?

1. Place or remove signs from property

2. Order repair items for the office

3. Obtain public documents from county clerks, courts, and water and or sewer companies

4. Show homes, apartments or other real property

Answer 1

81. Boycott.

82. Section 1031 exchange.

83. The contents can leak into the soil.

84. They primarily connects borrowers to third party lenders.

85. ARM (adjustable rate mortgage) loan.

86. Landlord default.

87. Installing a new display counter.

88. Subagent.

89. Top 20%.

90. Show homes, apartments or other real property.