Yha - Unit 10 Quiz (Career Path)

50 Questions | Total Attempts: 6428

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Course Quizzes & Trivia

90-Hour Broker Pre-License Course Quizzes


Questions and Answers
  • 1. 
    When demand for a commodity decreases and supply remains the same,
    • A. 

      Price tends to rise.

    • B. 

      Price tends to fall.

    • C. 

      Price is not affected.

    • D. 

      The market becomes stagnant.

  • 2. 
    A family's apartment lease has expired, but their landlord has indicated to them that they may remain on the premises until a sale of the building is closed. They will be charged their normal monthly rental during this period. The right held by the family is called a(n)
    • A. 

      Year to year holdover.

    • B. 

      Estate for term.

    • C. 

      Estate at sufferance.

    • D. 

      Tenancy at will.

  • 3. 
    Generally, an oral lease for five years is
    • A. 

      Illegal.

    • B. 

      Unenforceable.

    • C. 

      A short-term lease.

    • D. 

      Renewable only in writing.

  • 4. 
    The lessor and lessee have agreed to a lease term of five years. In order to ensure that the rental income during the term is reflective of market conditions, the lessor could
    • A. 

      Negotiate a new lease each year.

    • B. 

      Collect an additional security deposit each year.

    • C. 

      Negotiate an index lease.

    • D. 

      Negotiate a gross lease.

  • 5. 
    The tenant leases a heated apartment, but the landlord fails to provide heat becuase of a defective central heating plant. The tenant vacates the premises and refuses to pay any rent. This is an example of
    • A. 

      Abandonment.

    • B. 

      Actual eviction.

    • C. 

      Constructive eviction.

    • D. 

      Lessor negligence.

  • 6. 
    A lease would be terminated by which of the following?
    • A. 

      Sale of the leased premises

    • B. 

      Death of the tenant

    • C. 

      Abandonment of the leased premises by the tenant

    • D. 

      Expiration of the term in a lease for years

  • 7. 
    A lease should contain all of the following provisions EXCEPT
    • A. 

      A sale-and-leaseback clause.

    • B. 

      Use of the premises.

    • C. 

      Possession of the premises.

    • D. 

      The term of the lease.

  • 8. 
    A tenant's lease has expired, but the tenant has not vacated the premises or negotiated a renewal lease. The landlord has declared the tenant is not to remain in the building. This situation is an example of
    • A. 

      An estate for years.

    • B. 

      An estate from year to year.

    • C. 

      Tenancy at will.

    • D. 

      Tenancy at sufferance.

  • 9. 
    A lessee who pays some or all of the lessor's property expenses has a
    • A. 

      Gross lease.

    • B. 

      Net lease.

    • C. 

      Percentage lease.

    • D. 

      Sublease.

  • 10. 
    The principal difference between an estate for years and an estate from year to year is than an
    • A. 

      Estate for years is a life estate.

    • B. 

      Estate for years cannot be terminated.

    • C. 

      Estate from year to year must be in writing.

    • D. 

      Estate from year to year has no expiration date.

  • 11. 
    The covenant implied in a lease that ensures that the landlord will not interfere in the tenant's possession or use of the property is the covenant
    • A. 

      Of seisin.

    • B. 

      Of quiet enjoyment.

    • C. 

      Of warranty forever.

    • D. 

      Against encumbrances.

  • 12. 
    A tenant has an estate for years. According to the written one-year lease, the tenancy will expire on May 1. To obtain possession as of that date, the landlord
    • A. 

      Must give the tenant 30 days' notice.

    • B. 

      Must give the tenant 60 days' notice.

    • C. 

      Must give the tenant notice before April 15.

    • D. 

      Is not required to give the tenant any notice.

  • 13. 
    The owner of real estate who leases it to another is called the
    • A. 

      Vendor.

    • B. 

      Lessor.

    • C. 

      Grantor.

    • D. 

      Trustor.

  • 14. 
    A lease that will terminate within one year of its inception
    • A. 

      Is invalid.

    • B. 

      Violates the provisions of the statue of frauds.

    • C. 

      Must be in writing.

    • D. 

      May be oral.

  • 15. 
    When a tenant holds possession of a landlord's property without a definite lease term but with the consent of the landlord, this is called
    • A. 

      Tenancy in common.

    • B. 

      Tenancy at sufferance.

    • C. 

      Tenancy at will.

    • D. 

      Trespassing.

  • 16. 
    The purpose of a security deposit is to
    • A. 

      Provide additional revenue for the landlord.

    • B. 

      Repair damage to the property caused by the tenant.

    • C. 

      Pay for the last month's rent.

    • D. 

      Ensure that the lease is valid.

  • 17. 
    Under a percentage lease, a commercial lessee may agree to pay
    • A. 

      Maintenance.

    • B. 

      Real estate taxes.

    • C. 

      Insurance.

    • D. 

      A percentage of sales.

  • 18. 
    A real estate broker acting as an owner's property manager
    • A. 

      Must not profit from private contracts at the expense of the owner.

    • B. 

      May manage the client's property to his or hew own advantage.

    • C. 

      Need not maintain complete and accurate trust account records.

    • D. 

      Can personally collect the interest earned on trust account funds.

  • 19. 
    In determining rental amounts, a property manager considers the economic principle of
    • A. 

      Marginal contribution.

    • B. 

      Supply and demand.

    • C. 

      Conformity.

    • D. 

      Balance.

  • 20. 
    All of the following are important functions of a property manager EXCEPT
    • A. 

      Supervising the maintenance of the property.

    • B. 

      Protecting the physical integrity of the property.

    • C. 

      Meeting the functional requirements of the tenants.

    • D. 

      Preparing the owner's income tax returns.

  • 21. 
    A property manager's primary obligation is to
    • A. 

      Tenants.

    • B. 

      Owners.

    • C. 

      Bankers.

    • D. 

      Government authorities.

  • 22. 
    The parties to a lease agreement are:
    • A. 

      Tenant and Manager

    • B. 

      Manager and Owner

    • C. 

      Manager, Owner, and Tenant

    • D. 

      Owner and Tenant

  • 23. 
    The establishment of good tenant relations begins with which of the following?
    • A. 

      Tenant welcome party

    • B. 

      Joint inspection before move in

    • C. 

      Associating with tenant socially

    • D. 

      Tenant association meetings

  • 24. 
    Lead based paint disclosure must be made on residential properties that were built
    • A. 

      Last year.

    • B. 

      Between 1900 and 1940.

    • C. 

      Between 1940 and 1978.

    • D. 

      Anytime before 1978.

  • 25. 
    Which of the following hazards could result from an incorrectly vented space heater?
    • A. 

      Radon

    • B. 

      Carbon monoxide

    • C. 

      Mold

    • D. 

      Asbestos

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