New York Law (NYLE) Practice Exam

Which of the following is considered tangible personal property?

1. Cash

2. Motor vehicles

3. An investment account

4. A bank account

The correct answer is: Motor vehicles

Tangible personal property refers to physical items that can be touched and moved. Motor vehicles fall into this category as they are concrete, physical objects that possess value and can be transferred or sold. They can be seen, touched, and utilized, aligning perfectly with the definition of tangible personal property. In contrast, the other options represent forms of property that do not have a physical form you can touch or hold. Cash, while it can be physically handled, is often categorized under liquid assets rather than tangible personal property. An investment account and a bank account are both forms of intangible assets, representing rights to receive money rather than physical items themselves. Therefore, among the choices, motor vehicles uniquely fit the definition of tangible personal property.