NY Real Estate Exam · Free Sample Questions
3 free questions from Unlocked's bank of 44 ny real estate contracts questions. Full access unlocks all 44 questions with detailed explanations.
Question 1 · Statute of Frauds
Which of the following must be in writing under the Statute of Frauds?
Correct answer: C — A listing agreement to sell real property
Real estate listing agreements must be in writing to be enforceable. Leases over 1 year also require writing, but a 6-month lease and personal property agreements do not.
Question 2 · Remedies
A seller accepts a buyer's $600,000 offer in writing. Before closing, the seller receives a better offer and wants to back out. What remedy is uniquely available to the buyer?
Correct answer: C — Specific performance. The court can force the seller to sell
Specific performance is available in real estate because each property is unique, so money alone can't make the buyer whole. A court can actually force the seller to complete the sale.
Question 3 · Contract Status
A 16-year-old signs a purchase contract for a condominium. This contract is:
Correct answer: B — Voidable by the minor only
A contract with a minor is voidable at the minor's option only. The adult cannot void it. If the minor reaches legal age and continues to honor the contract, they may have ratified it.
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