Course 2 Quiz 15

Which of the following is considered a low vacancy rate ? A. 5 % of total units B. 8% of total units C. 10 % of total units D. 20 % of total units

Answer: A, 5% .

Which of the following may lead to the tenant being evicted ? A. Tenancy at will B. Estate at sufferance C. Estate for years D. Periodic tenancy

Answer: B, Estate at sufferance .

An interest in land by virtue of a contract for the possession of them for a definite and limited period of time is known as a/an ? A. Tenancy at will B. Estate at sufferance C. Estate for years D. Periodic tenancy

Answer: D, Estate for years

A branch of the real estate business involving the marketing, operation, maintenance and day-to-day financing of rental properties is known as ? A. Property management B. Leasing C. Property marketing D. Property investment

Answer: A, Property management.

This type of leasehold estate can be terminated at any time by either the tenant or the landlord ? A. tenancy at will B. Estate at sufferance C. Estate for years D. Periodic tenancy

Answer: A, Tenancy at will.

A resident manager does not need to have real estate license ? A. True B. False

Answer: A, True .

An estate from year to year automatically renews ? A. True B. False

Answer: A, True .

A transfer of benefits and obligations within a contract to a 3rd party who is not originally a party to the contract in known as a ? A. Novation B. Assignment C. Rescission D. Sublease.

Answer: B, Assignment .

This type of leasehold estate arising when the tenant wrongfully holds over after the expiration of the term ? A. tenancy at will. B. Estate at sufferance C. Estate for years D. Periodic Tenancy

Answer: B, Estate at sufferance .

A lase less than one year must be in writing ? A. True B. False

Answer: B, False

Which of the following is a protected class under the fair housing laws ? A. Occupation B. Familial status C. Income D. Ancestry

Answer: B, Familial status

A tenants right to occupy real estate during the term of the lease is known as ? A. Freehold estate B. Leasehold estate C. temporary estate D. Absolute estate

Answer: B, Leasehold estate .

A lease requiring a lessee to pay charges against the property such as taxes, insurance and maintenance costs in addition to rental payments is known as ? A. Gross lease B. Net lease C. Percentage lease D. Ground lease

Answer: B, Net lease.

Which of the following is a contract between landlord and tenant, setting forth condition upon which tenant may occupy and use the property and the term of the occupancy ? A. Deed B. Sales contract C. Lease D. Independent contractor agreement

Answer: C, Lease .

the tenant is referred to as the ? A. Grantee B. Grantor C. Lessee D. Lessor

Answer: C, Lessee .

A lease on property, the rental for which is determined by the amount of business done by the lessee is known as ? A. Gross lease B. Net lease C. Percentage lease D. Ground lease

Answer: C, Percentage lease.

A person who manages properties for an owner as the owners agent, is referred to as a A. Real estate agent B. superintendent C. Property manager D. Developer

Answer: C, Property manager.

An individual who supervises the care of an apartment complex while living in one of the units in the complex is known as a ? A. Developer B. Resident Manager C. Estate for years D. Certified property manager

Answer: B, Resident manager.

What is the maximum security deposit a landlord can charge for an unfurnished apartment ? A. 1 month rent B. 2 month rent C. 3 month rent D. 6 months rents

Answer: C, 3 months rent .

A gross lease is also known as a ? A. Gradual lease B. Ground lease C. Fixed lease D. Percentage lease

Answer: C, Fixed lease .

A lease which provides for a varying rental rate, often based upon future determination, is known as a ? A. Fixed lease B. Net lease C. Straight lease D. Graduated lease

Answer: D Graduated lease .

Which of following skills are typically required of a property manager ? A. Accounting B. Sales C. Repairs and maintenance D. All The Above

Answer: D, All The Above.

A property manager is responsible for which of the following ? A. Collect rents B. Market vacancies C. Schedule and supervise maintenance D. All The Above.

Answer: D, All the above .

Which of the following is an example of leasehold estate ? A. Estate for years B. Periodic tenancy C. Tenancy at will D. All The Above

Answer: D, All the above .

The certified property manager designation was developed by the ? A. NCARB B. LEAD C. CAR D. IREM

Answer: D, IREM .

the landlord is referred to as the ? A. Grantee B. Grantor C. Lessee D. Lessor

Answer: D, Lessor .

An estate from year to year is also known as a ? A. Tenancy at will B. Estate at sufferance C. Estate for years D. Periodic tenancy

Answer: D, Periodic Tenancy .

Rent skimming is illegal in California ? A. True B. False

Answer: A, True .

A tenancy at will may exist without a lease ? A. True B. False

Answer: A, True.