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
8 terms beginning with D
Showing 1 to 8
D
Real estate finance
Debt service
Debt service is the principal and interest a borrower must pay on a loan during a stated period, usually a year.
Open term guideProperty insurance
Deductible
A deductible is the portion of a covered loss the insured must bear before the insurer's payment is calculated under the policy.
Open term guideProperty rights and title
Deed
A deed is a written instrument used to transfer an interest in real property.
Open term guideValuation
Depreciation
Depreciation is a loss in property value from physical deterioration, functional obsolescence or external obsolescence in appraisal.
Open term guideIncome tax
Depreciation recapture
Depreciation recapture is the tax rule that can recharacterize or specially tax part of gain tied to prior depreciation deductions.
Open term guideAgency
Designated sales agent
A designated sales agent is a salesperson or associate broker assigned by the broker to represent one client when the same broker also represents another client in the deal.
Open term guideFair housing
Disparate treatment
Disparate treatment is treating a person differently from others because of a protected characteristic.
Open term guideAgency
Dual agency
Dual agency is one brokerage representing both buyer and seller, or landlord and tenant, in the same transaction, which New York allows only with informed written consent.
Open term guide