Question 1

To ____________________ means to transfer only a portion of the rights under a lease.

Accepted Answer

sublet

Question 2

The amount of rent that the tenant must pay the landlord for the use of the premises is called the ____________________ rent.

Accepted Answer

contract

Question 3

The Certified Property Manager (CPM)designation is available from the Organization of Property Managers.

Accepted Answer

A) True 
 B)False  False

Question 4

Choose the one most appropriate answer for each.
-a lease wherein a tenant pays a base rent plus maintenance, property taxes, and insurance

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 5

If a renter complains to public health officials about conditions on the premises which violate codes, the landlord may legally react by giving the tenant an eviction notice.

Accepted Answer

A) True 
 B)False

Question 6

A lease for a definite period of time, which terminates when that time has expired, is a periodic estate.

Accepted Answer

A) True 
 B)False

Question 7

A right of possession for a fixed term that allows for automatic renewals for additional terms is called a periodic tenancy.

Accepted Answer

A) True 
 B)False

Question 8

Choose the one most appropriate answer for each.
-a premium, such as a free month's rent, given to entice a prospective tenant to sign a lease

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 9

Choose the one most appropriate answer for each.
-a lease where the amount of rent paid is related to the income the lessee obtains from the use of the premises

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 10

Choose the one most appropriate answer for each.
-complete transfer of rights held under a lease

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 11

The tenant has signed a percentage lease. The terms of the lease are $500 per month plus an annual payment equal to 9% of gross sales over $250,000. If, at the end of the year, the tenant is celebrating a million dollars in gross sales, how much additional rent does he still owe?

Accepted Answer

A)  $6,000 
B)  $61,500 
C)  $67,500 
D)  $73,500 
A)  $6,000 
B)  $61,500 
C)  $67,500 
D)  $73,500

Question 12

Choose the one most appropriate answer for each.
-describes leases wherein the tenant pays a fixed rent

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 13

A tenant will know in advance how much his rent will be at any time during the lease under a

Accepted Answer

A)  gross lease. 
B)  percentage lease. 
C)  pass through lease. 
D)  participation. 
A)  gross lease. 
B)  percentage lease. 
C)  pass through lease. 
D)  participation.

Question 14

A lease under which the amount of rent is based upon the tenant's sales volume is known as

Accepted Answer

A)  a percentage lease. 
B)  a gratuity lease. 
C)  an escalation lease. 
D)  usury. 
A)  a percentage lease. 
B)  a gratuity lease. 
C)  an escalation lease. 
D)  usury.

Question 15

Choose the one most appropriate answer for each.
-the amount of rent the tenant must pay the landlord as stated in the lease agreement

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 16

A lease contract that calls for rent increases that keep abreast with changes in property taxes and utility costs contains a participation clause.

Accepted Answer

A) True 
 B)False

Question 17

A contract that contains predetermined rent increases to take effect during the life of the lease is

Accepted Answer

A)  a step-up lease. 
B)  one with a participation clause. 
C)  a percentage lease. 
D)  a net lease. 
A)  a step-up lease. 
B)  one with a participation clause. 
C)  a percentage lease. 
D)  a net lease.

Question 18

____________________ management consists of duties that can be accomplished without being on the premises.

Accepted Answer

The answer of ____________________ management consists of duties that can...

Question 19

Choose the one most appropriate answer for each.
-specified rent increases at various points in time during the life of the lease

Accepted Answer

A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet 
A) actual eviction 
B) assignment 
C) constructive eviction 
D) contract rent 
E) CPM, RPA
F)gross lease
G)holdover tenant
H)landlord-tenant laws
I)lessee
J)lessor
K)month-to-month lease
L)net lease
M)on-site management
N)participation clause
O)percentage lease
P)rent concession
Q)security deposit
R)step-up rent
S)sublessee
T)sublet

Question 20

A valid lease must contain

Accepted Answer

A)  an option. 
B)  the signatures of at least three parties. 
C)  a clean-up deposit. 
D)  a property description. 
A)  an option. 
B)  the signatures of at least three parties. 
C)  a clean-up deposit. 
D)  a property description.

Exam 16: Real Estate Leases

To ____________________ means to transfer only a portion of the rights under a lease.

The amount of rent that the tenant must pay the landlord for the use of the premises is called the ____________________ rent.

The Certified Property Manager (CPM)designation is available from the Organization of Property Managers.

Choose the one most appropriate answer for each. -a lease wherein a tenant pays a base rent plus maintenance, property taxes, and insurance

If a renter complains to public health officials about conditions on the premises which violate codes, the landlord may legally react by giving the tenant an eviction notice.

A lease for a definite period of time, which terminates when that time has expired, is a periodic estate.

A right of possession for a fixed term that allows for automatic renewals for additional terms is called a periodic tenancy.

Choose the one most appropriate answer for each. -a premium, such as a free month's rent, given to entice a prospective tenant to sign a lease

Choose the one most appropriate answer for each. -a lease where the amount of rent paid is related to the income the lessee obtains from the use of the premises

Choose the one most appropriate answer for each. -complete transfer of rights held under a lease

The tenant has signed a percentage lease. The terms of the lease are $500 per month plus an annual payment equal to 9% of gross sales over $250,000. If, at the end of the year, the tenant is celebrating a million dollars in gross sales, how much additional rent does he still owe?

Choose the one most appropriate answer for each. -describes leases wherein the tenant pays a fixed rent

A tenant will know in advance how much his rent will be at any time during the lease under a

A lease under which the amount of rent is based upon the tenant's sales volume is known as

Choose the one most appropriate answer for each. -the amount of rent the tenant must pay the landlord as stated in the lease agreement

A lease contract that calls for rent increases that keep abreast with changes in property taxes and utility costs contains a participation clause.

A contract that contains predetermined rent increases to take effect during the life of the lease is

____________________ management consists of duties that can be accomplished without being on the premises.

Choose the one most appropriate answer for each. -specified rent increases at various points in time during the life of the lease

A valid lease must contain

Nature and Description of Real Estate

Rights and Interests in Land

Forms of Ownership

Transferring Title

Recordation Abstracts and Title Insurance

Contract Law

Real Estate Sales Contracts

Mortgage and Note

Deed of Trust

Lending Practices

The Loan and the Consumer

Sources of Financing

Types of Financing

Taxes and Assessments

Title Closing and Escrow

Real Estate Appraisal

Licensing Laws and Professional Affiliation

The Principal-Broker Relationship: Employment

The Principal-Broker Relationship: Agency

Fair Housing, Ada, Equal Credit, and Community Reinvestment

Condominiums, Cooperatives, Puds, and Timeshares

Property Insurance

Land-Use Control

Real Estate and the Economy

Investing in Real Estate

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