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
4 terms beginning with V
Showing 1 to 4
V
Commercial and investment
Vacancy rate
The vacancy rate is the percentage of available units, space or potential income not occupied or collected for the period measured.
Open term guideLand use
Variance
A variance is permission from a zoning board of appeals to depart from a zoning requirement after the applicable legal test is met.
Open term guideContracts and leases
Void contract
A void contract is an agreement that has no legal effect from the outset.
Open term guideContracts and leases
Voidable contract
A voidable contract is an agreement that one protected party may choose to affirm or avoid.
Open term guide