Free New York Real Estate Practice Exam 2026

New York real estate exam sample questions and answers

6 of the 75 practice questions, one from each topic, with the answer explained.

1. 1. For an exclusive listing of a New York home, 19 NYCRR 175.24 requires the broker to:

   • A.Limit the listing to 90 days
   • B.Attach the DOS explanation, owner-signed
   • C.Record the listing with the county
   • D.Register the listing with DOS

   Answer: B. Section 175.24 requires every exclusive listing of residential property to carry the DOS explanation of exclusive right to sell versus exclusive agency, signed or initialed by the homeowner. No term limit is set, but section 175.15 bans automatic renewal past the fixed end date.

2. 2. A New York salesperson meets a prospective tenant for a retail space. Under 19 NYCRR 175.28, the salesperson must provide:

   • A.The property condition statement
   • B.No notice, since it is commercial
   • C.The section 443 agency form
   • D.The Human Rights Law disclosure

   Answer: D. Section 175.28 requires licensees to give the DOS notice on the New York State Human Rights Law at first substantive contact with any prospective buyer, tenant, seller or landlord, for every property type including commercial space and vacant land. Oral notice is not enough, and a hardcopy notice needs a signed acknowledgment kept three years.

3. 3. A buyer pays $1,200,000 for a one-family home in New York. How much is the additional 1% "mansion tax," and who pays it?

   • A.$12,000, paid by the buyer
   • B.$12,000, paid by the seller
   • C.$2,000, paid by the buyer
   • D.$4,800, paid by the seller

   Answer: A. Tax Law section 1402-a imposes 1% of the whole consideration on a residential conveyance of $1 million or more, so $1,200,000 x 0.01 = $12,000, paid by the grantee. Taxing only the $200,000 above $1 million gives $2,000, and $4,800 is the regular state transfer tax paid by the seller.

4. 4. An investor bought a lot for $120,000 and sold it 5 years later for $150,000. What was the average annual appreciation rate, based on the purchase price?

   • A.4%
   • B.6.25%
   • C.5%
   • D.25%

   Answer: C. The gain is $150,000 - $120,000 = $30,000; $30,000 / $120,000 = 25% total; 25% / 5 years = 5% per year. Dividing by the $150,000 sale price uses the wrong base and gives 4%, and stopping at 25% forgets to spread the gain over 5 years.

5. 5. A possessor openly occupies a fenced parcel for 6 years, then sells to a buyer who occupies it for 5 more. New York's statutory period is 10 years. The buyer:

   • A.Must restart the 10-year period
   • B.Gains only an easement by prescription
   • C.May claim title by tacking the two periods
   • D.Has no claim, since 5 years is too short

   Answer: C. Successive adverse possessors in privity may tack their periods, so 6 + 5 = 11 years exceeds New York's 10-year period (CPLR 212), assuming the other elements of adverse possession are met. Prescription yields only a right of use, while exclusive occupancy like this supports title by adverse possession.

6. 6. A building has a no-pets policy. A tenant with a disability requests to keep an emotional support animal. The landlord generally:

   • A.Must make a reasonable accommodation
   • B.May charge a pet deposit
   • C.May refuse because it is not a service dog
   • D.May require trainer certification

   Answer: A. An assistance animal is not a pet, so the landlord must waive the no-pets rule as a reasonable accommodation and may not charge a pet deposit. Fair housing covers emotional support animals even though they are not trained service dogs.