NY Real Estate Exam · Free Sample Questions
3 free preview questions from Unlocked's NY exam question bank. Full access unlocks all questions across every topic, with detailed explanations.
Question 1 · Certificate of Occupancy
Who issues the Certificate of Occupancy (CO) for a newly constructed building?
Correct answer: A — The local Building Department
The Certificate of Occupancy is issued by the local Building Department after inspecting the completed work and confirming it complies with all applicable codes. It is required before the building can be occupied.
Question 2 · Property Tax
A property has an assessed value of $180,000 and the local tax rate is 25 mills. What is the annual property tax?
Correct answer: A — $4,500
Tax = Assessed Value × Mill Rate. 25 mills = $25 per $1,000 = 0.025. $180,000 × 0.025 = $4,500.
Question 3 · Tax Grievance
A homeowner believes their property is significantly over-assessed. What is the first step in the NY grievance process?
Correct answer: A — File a grievance with the local Board of Assessment Review before the grievance deadline
The process starts with the local Board of Assessment Review. Missing the grievance deadline (typically in June) forfeits rights to challenge that year's assessment. If denied, residential owners can appeal to SCAR.
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Municipal Agencies: What the NY Real Estate Exam Tests
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