Are flashcards effective for the New York real estate exam?

Yes. Flashcards use active recall — retrieving an answer from memory — which research shows is one of the most effective study methods, especially in short, spaced sessions. Because the New York exam rewards instant recall of statutes, agency rules, disclosure forms, and math formulas, the cards make that knowledge automatic.

What topics do the New York flashcards cover?

The New York state material — the Department of State and RPL Article 12-A, 19 NYCRR, agency and the RPL 443 disclosure form, the Property Condition Disclosure Statement, the Human Rights Law, transfer and mansion taxes, and lien-theory foreclosure — plus the national content areas: property and legal descriptions, ownership and title, value and appraisal, contracts and agency, practice and fair housing, disclosures and environment, financing and settlement, and real estate math.

How should I study with these New York flashcards?

Lead with the New York license-law cards — the Department of State (not a 'commission'), RPL 443 agency disclosure, the Property Condition Disclosure Statement, and transfer taxes — because the state material is heavily tested. Then drill contracts and agency and the math formulas. Mix the modes: flip to learn, type to test recall, match for speed, and quiz to check yourself.

Are the New York real estate flashcards free?

Yes — 100% free, all four study modes, no paywall and no sign-up.

Do these flashcards match the New York real estate exam?

Yes. The cards are organized around the single combined Department of State salesperson exam — both the New York state-specific law and the national/general principles — so you study exactly what the test measures.

New York Department of State (DOS)

The state agency that licenses and regulates New York real estate salespersons and brokers, through its Division of Licensing Services, under RPL Article 12-A. New York has no 'real estate commission.'

Division of Licensing Services

The DOS division that processes New York real estate license applications, renewals, and education approvals.

Secretary of State (real estate)

The head of the NY Department of State, who issues licenses and disciplines licensees (fines, suspension, revocation) under RPL 441-c.

New York's Real Property Law article that governs real estate licensing — salespersons, brokers, agency, compensation, and exemptions.

Does New York have a 'real estate commission'?

No. New York is regulated by the Department of State, not a real estate commission — a common exam distractor.

NY salesperson pre-license hours

77 hours of DOS-approved qualifying education (raised from 75 to 77 effective December 21, 2022).

NY broker qualifying hours

152 total hours — the 77-hour salesperson course plus an additional 75-hour broker course.

NY salesperson exam format

One combined exam of 75 multiple-choice questions; New York does NOT split it into national and state portions.

NY salesperson passing score

70% correct on the combined 75-question exam.

Who administers the NY salesperson exam?

The Department of State; you schedule and pay ($15 per attempt) through the eAccessNY system — not Pearson VUE.

The DOS online system used to apply for, schedule, renew, and manage New York real estate licenses and exams.

NY real estate license term

Two years; the license must be renewed with the Department of State before it expires.

NY continuing education requirement

22.5 hours per two-year renewal cycle for most licensees (effective July 1, 2021).

NY CE — fair housing hours

At least 3 hours of fair housing instruction are required within the 22.5-hour CE.

NY CE — implicit bias hours

At least 2 hours of implicit bias instruction are required within the 22.5-hour CE.

NY CE — other required components

Hours on the law of agency, ethical business practice, cultural competency, and recent legal matters are also required.

Who is exempt from NY real estate CE?

Attorneys admitted to the New York State bar; the exemption does not extend to out-of-state attorneys.

The single licensed broker who supervises a New York salesperson and is named on the license; pays the salesperson's commission.

Can a NY salesperson work under two brokers?

No — a salesperson may work under only one sponsoring broker at a time.

Who may pay a NY salesperson a commission?

Only the salesperson's own sponsoring broker — never directly a buyer, seller, or another broker.

Changing sponsoring brokers in NY

The new sponsoring broker files the change with the Department of State and the license is amended to reflect the current sponsor.

The DOS regulations on broker conduct — escrow of clients' money, advertising, commissions, and prohibited practices.

NY broker handling of clients' money

Must be kept in a separate, special escrow account and never commingled with the broker's own funds (19 NYCRR Part 175).

Improperly mixing clients' trust funds with the broker's own funds — a license-law violation.

Disputed earnest-money deposit (NY)

The broker holds the funds in escrow until the buyer and seller resolve the dispute or a court directs disbursement.

Net listings in New York

Prohibited — a listing where the broker keeps any amount above a set seller price is a conflict of interest.

NY advertising rule (19 NYCRR 175)

Advertising a listing must clearly indicate that the advertiser is a real estate broker.

Maximum DOS fine under RPL 441-c

Up to $2,000 per violation, in addition to suspension or revocation.

Grounds for DOS discipline

Fraud, misrepresentation, untrustworthiness, or incompetence in conducting real estate business, among others.

RPL section 442 (commission splitting)

Generally prohibits paying a fee or commission to an unlicensed person for performing licensed activity.

Activities needing no NY license

An owner selling or renting his or her own property does not need a real estate license.

NY-admitted attorney exemption

An attorney admitted to the NY bar acting within the scope of his or her law practice is exempt from licensure.

Governs the sale or lease of subdivided vacant lands offered to the public; the subdivider must file an accepted offering statement with the DOS.

Offering subdivided lands in NY

A subdivider must file (and have accepted) an offering statement with the Department of State before offering Article 9-A lots.

Requires a written Agency Disclosure Form on the sale of one-to-four-family residential property in New York.

RPL 443 — applies to which property

Residential real property of one to four units (including condos and co-ops).

RPL 443 — timing to the buyer/tenant

The agency disclosure form is presented at the time of first substantive contact.

RPL 443 — timing to the seller/landlord

The listing agent presents the form before entering into a listing agreement.

An agent who, with the informed written consent of both parties, represents both the buyer and seller in one transaction.

Advance informed consent (NY)

The written consent both principals must give before a New York licensee may act as a dual agent.

Dual agency with designated sales agents

With both parties' written consent, the broker appoints one sales agent for the seller and a different sales agent for the buyer.

Duty a designated sales agent cannot give

Undivided loyalty — the agent must explain it cannot provide it in a dual-agency-with-designated-agents arrangement.

Refusal to sign the RPL 443 form

The agent notes the refusal on the form and keeps it; the duty to present the form still applies.

Property Condition Disclosure Statement (PCDS)

Required on the sale of a 1-to-4-family home; the seller must deliver it before the buyer signs the contract of sale.

Your FREE New York Real Estate Flashcards 2026 – 200+ Cards

Realistic New York real estate exam flashcards across the combined DOS exam — New York license law, RPL 443 agency disclosure, transfer taxes, financing, and math. Flip, match, type, and quiz yourself.

How well do you know them?

New York Real Estate Exam Flashcards

New York Department of State (DOS): The state agency that licenses and regulates New York real estate salespersons and brokers, through its Division of Licensing Services, under RPL Article 12-A. New York has no 'real estate commission.'
Division of Licensing Services: The DOS division that processes New York real estate license applications, renewals, and education approvals.
Secretary of State (real estate): The head of the NY Department of State, who issues licenses and disciplines licensees (fines, suspension, revocation) under RPL 441-c.
RPL Article 12-A: New York's Real Property Law article that governs real estate licensing — salespersons, brokers, agency, compensation, and exemptions.
Does New York have a 'real estate commission'?: No. New York is regulated by the Department of State, not a real estate commission — a common exam distractor.
NY salesperson pre-license hours: 77 hours of DOS-approved qualifying education (raised from 75 to 77 effective December 21, 2022).
NY broker qualifying hours: 152 total hours — the 77-hour salesperson course plus an additional 75-hour broker course.
NY salesperson exam format: One combined exam of 75 multiple-choice questions; New York does NOT split it into national and state portions.
NY salesperson passing score: 70% correct on the combined 75-question exam.
Who administers the NY salesperson exam?: The Department of State; you schedule and pay ($15 per attempt) through the eAccessNY system — not Pearson VUE.
eAccessNY: The DOS online system used to apply for, schedule, renew, and manage New York real estate licenses and exams.
NY real estate license term: Two years; the license must be renewed with the Department of State before it expires.
NY continuing education requirement: 22.5 hours per two-year renewal cycle for most licensees (effective July 1, 2021).
NY CE — fair housing hours: At least 3 hours of fair housing instruction are required within the 22.5-hour CE.
NY CE — implicit bias hours: At least 2 hours of implicit bias instruction are required within the 22.5-hour CE.
NY CE — other required components: Hours on the law of agency, ethical business practice, cultural competency, and recent legal matters are also required.
Who is exempt from NY real estate CE?: Attorneys admitted to the New York State bar; the exemption does not extend to out-of-state attorneys.
Sponsoring broker: The single licensed broker who supervises a New York salesperson and is named on the license; pays the salesperson's commission.
Can a NY salesperson work under two brokers?: No — a salesperson may work under only one sponsoring broker at a time.
Who may pay a NY salesperson a commission?: Only the salesperson's own sponsoring broker — never directly a buyer, seller, or another broker.
Changing sponsoring brokers in NY: The new sponsoring broker files the change with the Department of State and the license is amended to reflect the current sponsor.
Minimum age for a NY salesperson license: 18 years old.
19 NYCRR Part 175: The DOS regulations on broker conduct — escrow of clients' money, advertising, commissions, and prohibited practices.
NY broker handling of clients' money: Must be kept in a separate, special escrow account and never commingled with the broker's own funds (19 NYCRR Part 175).
Commingling (NY): Improperly mixing clients' trust funds with the broker's own funds — a license-law violation.
Disputed earnest-money deposit (NY): The broker holds the funds in escrow until the buyer and seller resolve the dispute or a court directs disbursement.
Net listings in New York: Prohibited — a listing where the broker keeps any amount above a set seller price is a conflict of interest.
NY advertising rule (19 NYCRR 175): Advertising a listing must clearly indicate that the advertiser is a real estate broker.
Maximum DOS fine under RPL 441-c: Up to $2,000 per violation, in addition to suspension or revocation.
Grounds for DOS discipline: Fraud, misrepresentation, untrustworthiness, or incompetence in conducting real estate business, among others.
RPL section 442 (commission splitting): Generally prohibits paying a fee or commission to an unlicensed person for performing licensed activity.
Activities needing no NY license: An owner selling or renting his or her own property does not need a real estate license.
NY-admitted attorney exemption: An attorney admitted to the NY bar acting within the scope of his or her law practice is exempt from licensure.
RPL Article 9-A: Governs the sale or lease of subdivided vacant lands offered to the public; the subdivider must file an accepted offering statement with the DOS.
Offering subdivided lands in NY: A subdivider must file (and have accepted) an offering statement with the Department of State before offering Article 9-A lots.
RPL section 443: Requires a written Agency Disclosure Form on the sale of one-to-four-family residential property in New York.
RPL 443 — applies to which property: Residential real property of one to four units (including condos and co-ops).
RPL 443 — timing to the buyer/tenant: The agency disclosure form is presented at the time of first substantive contact.
RPL 443 — timing to the seller/landlord: The listing agent presents the form before entering into a listing agreement.
Dual agent (RPL 443): An agent who, with the informed written consent of both parties, represents both the buyer and seller in one transaction.
Advance informed consent (NY): The written consent both principals must give before a New York licensee may act as a dual agent.
Dual agency with designated sales agents: With both parties' written consent, the broker appoints one sales agent for the seller and a different sales agent for the buyer.
Duty a designated sales agent cannot give: Undivided loyalty — the agent must explain it cannot provide it in a dual-agency-with-designated-agents arrangement.
Refusal to sign the RPL 443 form: The agent notes the refusal on the form and keeps it; the duty to present the form still applies.
Property Condition Disclosure Statement (PCDS): Required on the sale of a 1-to-4-family home; the seller must deliver it before the buyer signs the contract of sale.
PCDS — 2024 change: Effective March 20, 2024, the former $500 credit option was eliminated; a seller can no longer skip the disclosure by giving a $500 credit.
PCDS — added 2024 topic: The amended statement added questions on flood risk and flood history.
NY State Human Rights Law: New York's anti-discrimination statute, enforced by the Division of Human Rights, protecting more classes than the federal Fair Housing Act.
Lawful source of income: A New York protected class (e.g., a Section 8 voucher) with no federal equivalent; refusing to rent because of it is unlawful.
NY-only protected classes (examples): Lawful source of income, age, marital status, sexual orientation, gender identity or expression, and military status.
Who enforces NY housing discrimination law?: The New York State Division of Human Rights.
New York real estate transfer tax: $2 for each $500 of consideration (0.4%), generally paid by the seller (grantor).
Who pays the NY transfer tax?: The seller (grantor); if the seller fails to pay or is exempt, the buyer becomes liable.
New York mansion tax: An additional 1% tax on residential conveyances of $1,000,000 or more.
Who pays the NY mansion tax?: The buyer (grantee), unlike the base transfer tax paid by the seller.
Rent stabilization (NY): Generally covers apartments in buildings of six or more units built before 1974 in adopting localities; limits increases and gives renewal rights.
Who administers NY rent regulation?: New York State Homes and Community Renewal (HCR) administers rent stabilization and rent control.
New York as an 'attorney state': Attorneys typically draft the contract of sale and conduct the closing in New York transactions.
NY mortgage theory: Lien theory — the borrower keeps title and gives the lender a mortgage lien.
NY foreclosure method: Judicial foreclosure — the lender must sue and obtain a court judgment; there is no quick non-judicial trustee's sale.
NY deed-recording office: The county clerk records deeds (the City Register in New York City), usually with a transfer-tax return.
Tenancy by the entirety (NY): A co-ownership form for married couples only, with survivorship and protection from one spouse's individual creditors.
Is New York a community-property state?: No — New York is a common-law (separate-property) state; spouses often use tenancy by the entirety.
NY default co-ownership presumption: A conveyance to two or more persons is presumed a tenancy in common unless survivorship is expressly stated.
NY salesperson exam fee: $15 per attempt, paid through eAccessNY.
NY salesperson application fee: $55 to apply for the salesperson license with the Department of State.
Independent contractor vs. employee (NY): A salesperson typically works as an independent contractor of the sponsoring broker but is still supervised by that broker.
Puffing vs. misrepresentation (NY): General opinion ('finest home you'll find') is permissible puffing; a false statement of material fact is misrepresentation.
Steering (NY): Guiding a buyer toward or away from a subdivision or area based on a protected class — illegal under federal and NY law.
Full covenant and warranty deed (NY): New York's name for a general warranty deed — the most protective deed, warranting title against all defects.
Bargain and sale deed (NY): A common New York deed; with covenant it warrants only the grantor's own acts, without covenant it gives no warranties.
Standardized Operating Procedures (NY): DOS-required brokerage procedures (e.g., on prospective-buyer ID and pre-approval) intended to prevent discriminatory treatment.
NY associate broker: A licensed broker who chooses to work under and be supervised by another broker, rather than operating independently.
Pocket card (NY): The DOS-issued identification a licensee carries showing the license is current and identifying the sponsoring broker.
Real property: Land plus everything permanently attached (improvements and fixtures) and the bundle of legal rights of ownership.
Personal property (chattel): Movable property not permanently attached to land; it transfers by a bill of sale, not a deed.
Bundle of rights: Possession, use (enjoyment), exclusion, disposition (transfer), and control.
Fixture: Personal property attached to real property so it becomes part of it and transfers with the land.
MARIA test: Tests for a fixture: Method of attachment, Adaptability, Relationship of parties, Intention, Agreement.
Trade fixture: A tenant's business fixture; it remains personal property and the tenant may remove it before the lease ends.
Fee simple absolute: The most complete ownership — unlimited duration, freely transferable by deed or will.
Life estate: An estate that lasts for someone's lifetime; on death it passes to a remainderman or reverts to the grantor.
Easement: A nonpossessory right to use another's land for a specific purpose, such as a driveway or utility line.
Easement appurtenant: An easement that benefits an adjoining parcel (the dominant estate) and burdens another (the servient estate).
Encroachment: An improvement that extends unlawfully onto a neighbor's land — an encumbrance discovered by survey.
Encumbrance: Any claim, lien, charge, or right that limits an owner's title — liens, easements, encroachments, deed restrictions.
Police power: Government's authority to regulate land for public health, safety, and welfare — zoning, codes; no payment to the owner.
Eminent domain: Government's power to take private property for public use through condemnation, paying just compensation.
Escheat: Reversion of property to the state when an owner dies with no will and no legal heirs.
PETE: The four government powers: Police power, Eminent domain, Taxation, Escheat — only eminent domain pays the owner.
Metes and bounds: A legal description using distances and compass directions back to a point of beginning — the method most used in New York.
Lot and block: A legal description referencing a recorded subdivision plat by lot and block number.
Acre: A unit of land area equal to 43,560 square feet.
Littoral vs. riparian rights: Littoral rights border a lake/ocean; riparian rights border a flowing river or stream.
Ownership in severalty: Sole ownership of property by one person or entity.
Joint tenancy: Co-ownership with the right of survivorship; requires the four unities of time, title, interest, and possession.
Tenancy in common: Co-ownership with no survivorship; each owner holds a willable, undivided share — New York's default.
Four unities: Time, Title, Interest, and Possession — all required to create a joint tenancy.
Right of survivorship: A deceased co-owner's share passes automatically to the surviving co-owners (joint tenancy, tenancy by the entirety).
Deed: The written instrument that conveys title from grantor to grantee.
Grantor vs. grantee: Grantor = the one conveying title; grantee = the one receiving it. Only the grantor signs the deed.
Delivery and acceptance: Title transfers when the grantor delivers the deed and the grantee accepts it — not when it is recorded.
Quitclaim deed: Conveys only whatever interest the grantor has, with no warranties; used to clear a cloud on title.
Habendum clause: The 'to have and to hold' clause in a deed that defines the extent of ownership conveyed.
Recording: Entering a deed in the public record (county clerk / NYC City Register) to give constructive notice and set priority.
Constructive notice: Notice the law presumes everyone has once a document is properly recorded.
Title insurance: A policy protecting the insured against loss from title defects existing before the policy date.
Abstract of title: A summary of the recorded history of a property's title used to find defects.
Cloud on title: A claim or encumbrance that may impair title; often removed by a quitclaim deed or court action.
Adverse possession: Acquiring title by open, notorious, continuous, hostile possession for the statutory period (10 years in New York).
Intestate succession: When an owner dies without a will, the estate passes to heirs under state law; with no heirs it escheats.
Probate: The court process that validates a will and oversees distribution of a decedent's estate.
Market value: The most probable price under fair, open-market conditions — an opinion, distinct from market price.
Market price: The actual price a property sold for, which may differ from market value.
Appraisal: An impartial, supported opinion of value by a licensed appraiser as of a specific date, following USPAP.
CMA (comparative market analysis): A licensee's value estimate from recent comparable sales to help price a listing — not a formal appraisal.
Highest and best use: The legal, possible, feasible, and most profitable use of a site — the basis of value.
Sales comparison approach: Estimates value by comparing the subject to recent comparable sales, adjusting for differences. Best for homes.
Cost approach: Land value + cost to rebuild the improvements new − depreciation. Best for new or special-use property.
Income approach: Value = net operating income ÷ capitalization rate. Best for income-producing property.
Net operating income (NOI): Effective gross income minus operating expenses, before any mortgage payment.
Capitalization rate: NOI ÷ value; a higher cap rate implies more risk and a lower value.
Reconciliation: Weighing the three value indications into one final opinion — not simply averaging them.
Principle of substitution: A buyer will pay no more than the cost of an equally desirable substitute — the basis of the sales comparison approach.
Principle of contribution: An improvement adds value only by what it contributes to the whole, which may be less than its cost.
Depreciation (appraisal): Loss in value from physical deterioration, functional obsolescence, or external obsolescence.
Gross rent multiplier (GRM): Sale price ÷ monthly (or annual) rent — a quick screening tool for income property.
Assessed value: The value a local assessor places on property for taxation, which may differ from market value.
Valid contract elements: Mutual agreement (offer + acceptance), consideration, legal purpose, and competent parties.
Statute of frauds: Requires real estate sales contracts (and most leases over one year) to be in writing to be enforceable.
Void vs. voidable: Void = no legal effect (missing an essential element); voidable = one party may rescind (e.g., a minor's contract).
Bilateral contract: Both parties exchange promises — a purchase agreement is bilateral.
Unilateral contract: A promise in exchange for an act — an open listing or option is unilateral.
Earnest money: A buyer's good-faith deposit held in the broker's escrow account and usually applied to the price at closing.
Contingency: A condition that must be met for the contract to become binding — financing, inspection, or appraisal.
Specific performance: A court order forcing a defaulting seller to complete the sale because land is unique.
Liquidated damages: A pre-agreed amount (often the earnest money) the seller may keep if the buyer defaults.
Exclusive right-to-sell listing: The listing broker earns the commission no matter who finds the buyer.
Exclusive agency listing: The broker earns the commission unless the owner sells the property themselves.
Open listing: Only the broker who actually finds the buyer earns a commission.
Agency: A fiduciary relationship in which an agent represents a principal in dealings with third parties.
Principal vs. customer: The principal (client) is owed fiduciary duties; a customer is owed honesty and fair dealing.
OLD CAR: Fiduciary duties: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care.
Confidentiality duty: An agent must keep a client's confidential information private — and it survives the end of the relationship.
Express vs. implied agency: Express agency is created by a written/oral agreement; implied agency arises from the parties' conduct.
Seller's (listing) agent: Represents the seller and owes the seller fiduciary duties.
Buyer's agent: Represents the buyer and owes the buyer fiduciary duties, including undivided loyalty.
Broker's agent (NY): An agent who cooperates with a listing or buyer's agent to help the principal, but is not the principal's agent.
Procuring cause: The agent whose efforts mainly brought about the sale and who therefore earns the commission.
Novation: Substituting a new contract or party for an old one, releasing the original obligation.
Assignment of contract: Transferring one's rights under a contract to another party (unless prohibited).
Fair Housing Act (1968): Federal law banning housing discrimination based on race, color, religion, national origin, sex, familial status, and disability.
Seven federal protected classes: Race, color, religion, national origin, sex, familial status, and disability.
Blockbusting: Inducing panic selling by claiming a protected class is moving into a neighborhood — illegal.
Redlining: A lender refusing to lend or insure in an area based on its racial or ethnic makeup — illegal.
Reasonable accommodation: A change in rules or services so a person with a disability can use housing — e.g., allowing a service animal.
Reasonable modification: A physical change to a dwelling a disabled tenant may make (usually at their expense) for full use.
ADA vs. Fair Housing: The ADA covers public accommodations; the Fair Housing Act covers housing.
Antitrust — price fixing: Brokers agreeing to set commission rates is an illegal antitrust violation; rates are always negotiable.
Property management agreement: A contract by which an owner hires a manager to operate the property for a fee.
Lease (lessor/lessee): Conveys the right to use property for a term in exchange for rent; landlord = lessor, tenant = lessee.
Gross lease vs. net lease: Gross: landlord pays operating expenses; net: tenant pays some or all expenses (taxes, insurance, maintenance).
Security deposit (NY): Generally limited to one month's rent for many residential leases under New York's 2019 rent law.
Material fact: A fact that would affect a buyer's decision or price; a known material defect must be disclosed.
Latent defect: A hidden defect not found by ordinary inspection; a known latent defect must be disclosed.
Caveat emptor: 'Let the buyer beware' — limited today by disclosure laws and the duty to disclose known material defects.
Stigmatized property: A property psychologically impacted by an event (e.g., a death); New York generally does not require disclosing such facts.
Lead-based paint disclosure: For pre-1978 housing: disclose known lead, give the EPA pamphlet, and allow a 10-day inspection window for sales.
Radon: An odorless, radioactive gas from soil that can accumulate indoors and is a known health hazard.
Asbestos: A hazardous material in old insulation/flooring; controlled by removal or encapsulation.
Mold: Fungal growth in damp areas that may require disclosure and remediation.
Underground storage tank: A buried tank that can leak and contaminate soil and groundwater, creating cleanup liability.
CERCLA / Superfund: Federal law imposing liability for cleanup of hazardous-waste contamination on current and past owners.
Wetlands: Protected areas where development is restricted; permits may be required before building.
Megan's Law (NY): Provides public access to a sex-offender registry; agents typically refer buyers to the registry rather than investigate.
Promissory note: The borrower's written promise to repay the loan; the mortgage secures it against the property.
Mortgage (NY): The security instrument giving the lender a lien on the property; New York is a lien-theory state.
Mortgagor vs. mortgagee: Mortgagor = the borrower who gives the mortgage; mortgagee = the lender who receives it.
Judicial foreclosure (NY): Foreclosure through a court lawsuit and judgment — the rule in New York.
Equity of redemption: The borrower's right to pay the debt and reclaim the property before the foreclosure sale.
Conventional loan: A loan not insured or guaranteed by the government; PMI is usually required when LTV exceeds 80%.
FHA loan: A government-insured loan with lower down payments, insured by the Federal Housing Administration.
VA loan: A loan guaranteed by the Department of Veterans Affairs, often with no down payment for eligible veterans.
Loan-to-value ratio (LTV): Loan amount ÷ value or price; a higher LTV means a smaller down payment and more lender risk.
Private mortgage insurance (PMI): Insurance a borrower pays on a conventional loan when the LTV is above 80%, protecting the lender.
RESPA: Requires settlement-cost disclosures (Loan Estimate, Closing Disclosure) and prohibits kickbacks at closing.
TILA / Regulation Z: Requires lenders to disclose the cost of credit, including the annual percentage rate (APR).
Closing Disclosure timing: Must reach the borrower at least three business days before closing.
Discount points: Prepaid interest (1 point = 1% of the loan) paid at closing to lower the interest rate.
Commission formula: Commission = sale price × commission rate. A $500,000 sale at 5% = $25,000.
Seller net price formula: Price = net ÷ (1 − commission rate). A $470,000 net at 6% = $470,000 ÷ 0.94 = $500,000.
Square feet per acre: 43,560 square feet — not provided at the test center, so memorize it.
Feet per mile: 5,280 feet per mile — memorize it for the exam.
Section size: One section = one square mile = 640 acres.
Area of a rectangle: Area = length × width; convert square feet to acres by dividing by 43,560.
LTV calculation: LTV = loan ÷ value. An 80% LTV on a $500,000 home is a $400,000 loan.
Income-approach value: Value = NOI ÷ cap rate. $90,000 NOI ÷ 0.09 = $1,000,000.
NY transfer tax calculation: $2 for every $500 of price. A $400,000 sale = (400,000 ÷ 500) × $2 = $1,600.
NY mansion tax calculation: 1% of the price on residential sales of $1,000,000 or more. A $1,200,000 sale = $12,000.
Proration: Splitting taxes, rent, or interest by the days each party owns the property as of closing.

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By Career EmployerUpdated Jun 21, 2026

200+ free New York Real Estate Exam flashcards — 4 ways to study

New York Real Estate Exam Flashcard of the DayNew daily

The classic card. Do you know this one?

Click Study Flashcards above to open the flashcard hub — 200 New York real estate cards you can flip, match, type, or quiz yourself on. Every card is drawn from the single combined Department of State salesperson exam, so you study exactly what the test measures.^[1] Pair them with our free practice test and study guide.

New York Real Estate Flashcard Study Modes

Most flashcard sites give you one thing: a card to flip. Ours has four modes so you can both learn the material and prove you know it — the difference between recognizing an answer and recalling it under exam pressure.

Flip (Study) — the classic card. Flip term ↔ definition, shuffle the deck, and mark each card “Got it” or “Still learning.”
Match (Game) — a timed game: pair each term to its definition as fast as you can. Great for cementing DOS rules, disclosure forms, and math formulas.
Type (Recall) — read the definition and type the term. Typing forces true active recall instead of passive recognition.
Quiz (Test) — multiple-choice questions generated from the cards, so you self-test exactly like exam day.

Free New York real estate exam flashcards from Career Employer — active recall for the Department of State salesperson licensing exam

Why Flashcards Work for the New York Real Estate Exam

Flashcards aren’t busywork — they’re built on active recall: pulling an answer out of memory strengthens it far more than re-reading notes. Pair that with spacing — short sessions across several days rather than one cram — and you retain more in less time.

The New York exam rewards instant recall of RPL Article 12-A and the 19 NYCRR rules, the agency and disclosure rules, and math formulas.^[1] Spaced flashcards are the most efficient way to make that knowledge automatic. Used alongside our practice test and study guide, they turn review time into measurable progress.

New York Real Estate Flashcards by Content Area

The cards cover the whole combined exam. Drill the New York state law first — it is where most candidates lose points — then lock in the national content areas:^[3]

New York real estate flashcards by content area
Content area	What the cards cover
New York License Law & Practice	Department of State, RPL Article 12-A, 19 NYCRR, CE rules, RPL 443 disclosure, Property Condition Disclosure, transfer & mansion tax, lien-theory foreclosure
Property, Legal Descriptions & Use	Estates, fixtures, easements, government powers, legal descriptions
Ownership, Transfer & Recording	Co-ownership, tenancy by the entirety, deeds, recording, title insurance
Property Value & Appraisal	Value principles, the three approaches, CMA vs. appraisal
Contracts & Agency	Contract law, listings, fiduciary duties, dual agency
Real Estate Practice	Fair housing, NY Human Rights Law, trust funds, leases and management
Disclosures & Environmental	Material facts, latent defects, lead paint, radon, asbestos
Financing & Settlement	Notes, mortgages, loan types, RESPA, TILA, closing
Real Estate Math	Commission, LTV, transfer tax, proration, area

How to Get the Most Out of These Flashcards

Lead with New York law. The Department of State (not a “commission”), RPL 443 disclosure, the Property Condition Disclosure Statement, and transfer taxes anchor the heavily tested state material — start there.
Master the staples. Use Match and Type to lock in the fiduciary duties (OLD CAR), the government powers (PETE), the deed types, and the core math formulas.
Use Type and Quiz, not just Flip. Recognizing the right answer is easy; recalling and choosing it under pressure is the real test.
Then prove it. When the cards feel easy, confirm with the full practice test — read every rationale before exam day.

New York Real Estate Flashcards FAQ

Two hundred free New York real estate exam flashcards, weighted toward New York license law (the Department of State, RPL Article 12-A, 19 NYCRR, RPL 443 agency disclosure, the Property Condition Disclosure Statement, the Human Rights Law, and transfer taxes) and covering all of the national content areas too. They're free with no account required.

References

1.New York Department of State. “Real Estate Salesperson.” DOS (dos.ny.gov). ↑
2.New York State Senate. “Real Property Law Article 12-A — Real Estate Brokers and Salesmen.” nysenate.gov. ↑
3.New York State Senate. “Real Property Law § 443 — Disclosure regarding real estate agency relationship.” nysenate.gov. ↑

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