Authority and license structure; License lifecycle; Conduct and enforcement
Rule or exception to revisit
Explain the ruleApply a new fact
Free printable workbook
Your desk-side study companion.
A clean, seven-page workbook for your New York salesperson exam study routine. All 19 subjects, eight math relationships, worked examples and room to write what you still need to learn.
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Pass New YorkReal estate salesperson exam prepThe study companionStart here
Free study workbook
New York
Real Estate Exam
Study Companion
A place to organize the rules, work through the numbers and keep track of what needs another look.
19curriculum subjects08math relationships07printable pages
Make each mark mean something.
Use this sheet alongside the 19-subject guide. Mark a subject only after you can explain its rules without looking, apply them to a changed fact and explain a wrong answer. The checklist is a study aid, not a readiness score or an official exam blueprint.
- Recall. Say the rule before opening your notes.
- Apply. Change one fact and explain what changes.
- Review. Write the point you missed and study it next.
Name My next study date
Independent exam preparation. Not affiliated with or endorsed by the New York State Department of State. Not an approved qualifying course.
Pass New YorkReal estate salesperson exam prepThe study companionSubject review
The full subject checklist
Review subjects 1-6.
Course hours describe the approved 77-hour curriculum. They are not state-exam question percentages. Write the rule or exception you still need to review next to each subject.
Agency foundations; Duties and authority; Representation choices; Disclosure and agreements; Independent-contractor issues
Rule or exception to revisit
Explain the ruleApply a new fact
Property, estates and ownership; Liens, easements and boundary rights; Deeds, descriptions and transfer at death; Title, closing and costs
Rule or exception to revisit
Explain the ruleApply a new fact
Leases and tenant rights; Contract formation and remedies; Sales contracts and New York preparation practice
Rule or exception to revisit
Explain the ruleApply a new fact
Mortgage papers, payments and default; Loan programs and mortgage markets; Disclosure, qualification and consumer protection
Rule or exception to revisit
Explain the ruleApply a new fact
Public and private controls; Planning and zoning
Rule or exception to revisit
Explain the ruleApply a new fact
Pass New YorkReal estate salesperson exam prepThe study companionSubject review
The full subject checklist
Review subjects 7-12.
Course hours describe the approved 77-hour curriculum. They are not state-exam question percentages. Write the rule or exception you still need to review next to each subject.
Building systems; Environmental hazards
Rule or exception to revisit
Explain the ruleApply a new fact
Value concepts; Approaches and reconciliation
Rule or exception to revisit
Explain the ruleApply a new fact
Federal protections; New York protections; Brokerage conduct and enforcement
Rule or exception to revisit
Explain the ruleApply a new fact
Core calculations; New York rates and investment income
Rule or exception to revisit
Explain the ruleApply a new fact
Municipal roles
Rule or exception to revisit
Explain the ruleApply a new fact
Coverage and risk
Rule or exception to revisit
Explain the ruleApply a new fact
Pass New YorkReal estate salesperson exam prepThe study companionSubject review
The full subject checklist
Review subjects 13-19.
Course hours describe the approved 77-hour curriculum. They are not state-exam question percentages. Write the rule or exception you still need to review next to each subject.
Personal and information safety
Rule or exception to revisit
Explain the ruleApply a new fact
Assessment and taxation; Relief, review and collection
Rule or exception to revisit
Explain the ruleApply a new fact
Condominiums from ownership through closing; Cooperatives, share loans and condops
Rule or exception to revisit
Explain the ruleApply a new fact
Investment foundations; Income analysis; Commercial measurement and leasing
Rule or exception to revisit
Explain the ruleApply a new fact
Home sales, rentals and financing; Depreciation, exchanges and housing incentives
Rule or exception to revisit
Explain the ruleApply a new fact
Mortgage brokerage from first contact to closing
Rule or exception to revisit
Explain the ruleApply a new fact
The owner, the manager and the written plan; The building, the money and the people
Rule or exception to revisit
Explain the ruleApply a new fact
My next review
One rule to focus on next.
Use the online guide for the complete lessons, recall checks and source links.
Pass New YorkReal estate salesperson exam prepThe study companionMath setup
Set up first. Calculate second.
The core calculations.
Write the unknown, identify the base and keep units consistent. This is a selection of core relationships. Use the math guide for the complete lessons and tax exceptions.
01
Commission
Commission = sale price × stated commission rate
Then apply each stated split in sequence. Commission rates are negotiated, not fixed by law.
Worked example
A $480,000 sale uses a stated 5% commission. The brokerage receives 50% of that commission, and the agent receives 60% of the brokerage's share.
$480,000 × 0.05 × 0.50 × 0.60
$7,200 to the agent
02
Simple interest
Interest = principal × annual rate × time in years
For months, time is months ÷ 12. For days, use the day-count convention supplied in the problem.
Worked example
Find five months of simple interest on $120,000 at a stated annual rate of 6%.
$120,000 × 0.06 × (5 ÷ 12)
$3,000 interest
03
Loan-to-value
LTV = loan amount ÷ stated value basis × 100%
Use the value basis the problem specifies. Do not invert the fraction.
Worked example
The loan is $360,000. The problem specifies $450,000 as the value basis.
$360,000 ÷ $450,000 × 100%
80% LTV
04
Capitalization
Value = annual net operating income ÷ capitalization rate
Enter the rate as a decimal. NOI is not gross rent, and a zero cap rate cannot produce a meaningful value.
Worked example
Annual NOI is $72,000. The stated capitalization rate is 6%.
$72,000 ÷ 0.06
$1,200,000 indicated value
Pass New YorkReal estate salesperson exam prepThe study companionMath setup
Set up first. Calculate second.
Keep the bases and units straight.
Write the unknown, identify the base and keep units consistent. This is a selection of core relationships. Use the math guide for the complete lessons and tax exceptions.
05
Gross rent multiplier
GRM = price ÷ gross rent; price = gross rent × GRM
Keep the multiplier's monthly or annual rent basis consistent. Do not substitute NOI for gross rent.
Worked example
Annual gross rent is $36,000. Use a stated annual GRM of 9.
$36,000 × 9
$324,000 indicated price
06
Area
Acres = square feet ÷ 43,560
A rectangular parcel's square feet equal length × width. Convert all dimensions to the same unit first.
Worked example
A rectangular parcel measures 330 feet by 264 feet. Find its acreage.
330 × 264 = 87,120 sq. ft.; 87,120 ÷ 43,560
2 acres
07
Qualifying ratios
Monthly housing allowance = monthly gross income × stated housing ratio
Compare with the stated total-debt allowance minus other recurring debt. These are exercise assumptions, not universal underwriting limits.
Worked example
Monthly gross income is $6,000; other recurring monthly debt is $450. This exercise supplies a 28% housing ratio and a 36% total-debt ratio.
$6,000 × 0.28 = $1,680; ($6,000 × 0.36) - $450 = $1,710
Use the smaller allowance: $1,680 per month
08
Mortgage tax practice
Round debt to $100 units, then multiply by the supplied tax rate per $100
A $50 remainder rounds down; more than $50 rounds up. This shortcut requires debt of at least $100 and the applicable rate. Actual tax components, deductions, credits and minimums need separate treatment.
Worked example
Assume $400,050 of debt and a supplied practice rate of $1 per $100. No separate adjustments apply in this exercise.
$400,050 rounds to $400,000; ($400,000 ÷ 100) × $1
$4,000 practice tax. At $400,050.01, the rounded debt is $400,100 and the tax is $4,001.
Pass New YorkReal estate salesperson exam prepThe study companionSources and next steps
Keep the original sources close
Turn your notes into practice.
The checklist organizes your study. The linked guides explain the rules and cite their sources. These sheets do not replace the full course, the full exam-prep bank or professional advice.
New York Department of State
Real Estate Salesperson 77-Hour Curriculum: subject list and course-hour allocation.
Curriculum, subject list, printed page 1.
https://dos.ny.gov/real-estate-salesperson-77-hour-curriculum-eff-12212022
New York Taxation and Finance
Form MT-15: mortgage-recording-tax instructions and rate tables.
Instructions, Schedule A, line 1; rate tables, page 4.
https://www.tax.ny.gov/pdf/current_forms/mortgage/mt15.pdf
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Before my next session
The three things I want to remember.
1.
2.
3.
The math rates and ratios in the examples are stated exercise assumptions, not universal lending limits or a complete tax calculation. Commission rates are negotiated. Always use the facts and conventions supplied in the question.
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