189 terms across 19 subjects
New York Real Estate Exam Glossary
This glossary defines 189 terms you need for the New York real estate salesperson exam, organized by the 19 subjects of the Department of State's 77-hour course. Each term opens into a short guide with a one-sentence definition, how the idea shows up in exam questions, an example, the trap students fall for and links to the official source.
How to use this glossary
Read the one-line definition first. Then open the term for the exam cue, an example and the trap that costs students points.
Filter by topic All 19 topics
25 terms beginning with C
Showing 19 to 25
C
Contracts and leases
Contingency
A contingency is a contract condition that must be satisfied or waived for a stated obligation to become final or continue.
Open term guideLicense law
Conversion
Conversion is the wrongful exercise of control over another person's money or property that seriously interferes with that person's rights.
Open term guideCondominiums and cooperatives
Cooperative
A cooperative is a housing arrangement in which a corporation owns the real property and occupants own shares tied to proprietary leases.
Open term guideValuation
Cost approach
The cost approach is a valuation approach that adds land value to the depreciated cost of the improvements.
Open term guideContracts and leases
Counteroffer
A counteroffer is a response that rejects an offer and proposes different terms.
Open term guideMunicipal government
County clerk
A county clerk is the county official or office that maintains specified public records, including land records recorded for property in the county.
Open term guideAgency
Customer
A customer is a person who receives services from a licensee but is not represented by that licensee as an agent.
Open term guide