New York Real Estate Salesperson Practice Exam

A $920,000 residential property sells at full list price. The exclusive right-to-sell listing agreement provides for a total commission of 5.5%. The listing brokerage offers a 2.5% co-broke commission to the buyer's brokerage. The selling salesperson has a 60/40 split agreement (salesperson receives 60%) with the buyer's brokerage firm. How much commission will the selling salesperson receive from this transaction?

Married couple Robert and Lisa Chen purchase a single-family residence in Ulster County and take title in the deed as "Robert Chen and Lisa Chen, husband and wife." Under New York common law and statutory presumptions, what form of ownership is created and what is one key legal consequence?

Buyer's agent Priya from Empire Realty has been working exclusively with client Rachel for three weeks searching for a co-op in Chelsea. At a showing of a unit listed by another firm, the listing broker suggests they "team up" to represent both sides, split the commission, and get the deal closed faster. Priya verbally agrees but does not inform Rachel or provide any written disclosure. Later that day Rachel makes an offer. What is the primary violation?

A judgment lien is docketed against a seller on June 1. On July 15 the seller contracts to sell the property. A purchase-money mortgage is recorded at closing on August 20. The mechanic who performed work visible on the property in May files a mechanic's lien on September 5. Assuming all other requirements are met, what is the priority order among these liens?

A property manager for a large apartment complex requires all applicants to provide Social Security numbers and to demonstrate that their income is at least three times the monthly rent. The manager rejects an applicant who receives Section 8 housing choice vouchers, stating that the complex "does not accept vouchers." Which statement is most accurate under fair housing law?