Nyc Real Estate Exam Questions With Math All Complete Questions And Correct Detailed Answers (Verified Answers) |already Graded A+

26. Unless specified a lesser estate, transfer of title to real property in NYS creates what type of interest? {Ans: Fee simple}Monthly Principle and Interest {Ans: Loan Amount/1000 * Mortgage Loan Factor}3. What other capability should one posses to qualify as a real estate agent? {Ans: Mental and emotional capability}What type of estate is created when only one person holds title to real property? {Ans: Ownership in severalty}2. What Happens if one of the parties to the contract is a minor? {Ans: The contract is voidable by the minor}A home was purchased in 2005, for $425,000. It was sold recently for $478,000. What is the rate of return on profit on this house? {Ans: 12.47% 478,000-425,000= 53,000 53,000*100=5,300,000 5,300,000/425,000= 12.47}