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
11 terms beginning with R
Showing 1 to 11
R
Construction and environment
Radon
Radon is a naturally occurring radioactive gas that can enter buildings from the ground and cannot be seen or smelled.
Open term guideFair housing
Reasonable accommodation
A reasonable accommodation is a change to a rule, policy, practice or service that may be needed for a person with a disability to use and enjoy housing equally.
Open term guideFair housing
Reasonable modification
A reasonable modification is a physical change to housing that may be needed for a person with a disability to use and enjoy it equally.
Open term guideProperty rights and title
Recording
Recording is placing an eligible real estate document in the public land records maintained by the appropriate recording office.
Open term guideFair housing
Redlining
Redlining is denying, restricting or worsening housing-related services because of an area's location or protected-class makeup.
Open term guideMortgage brokerage
Referral fee
A referral fee is compensation paid for directing business or a customer to another provider.
Open term guideCommercial and investment
Rent roll
A rent roll is a property record listing tenants, units, lease terms, rents and other recurring occupancy information.
Open term guideProperty insurance
Replacement cost
Replacement cost is a loss-settlement basis tied to the cost to repair or replace covered property without a deduction for depreciation, subject to policy terms.
Open term guideLicense law
Representative broker
A representative broker is the licensed broker who acts for a corporation, partnership or LLC brokerage and supervises its associated licensees.
Open term guideProperty management
Reserve fund
A reserve fund is money set aside for future major repairs, replacements, emergencies or other planned property needs.
Open term guideLicensee safety
Risk reduction
Risk reduction is any practical action that lowers the likelihood or severity of harm without claiming to eliminate all risk.
Open term guide