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
3 terms beginning with O
Showing 1 to 3
O
Licensee safety
Open-house safety
Open-house safety is the set of procedures used to reduce risk to people, property and information during a public showing.
Open term guideProperty management
Operating budget
An operating budget is a plan of expected property income and operating expenses for a future period.
Open term guideCommercial and investment
Operating expense
An operating expense is a recurring cost of operating and maintaining an income property that is included in the standard NOI calculation.
Open term guide