Real Estate Principles: Q14/Chp 73-78

Question 1

1) Tenant negotiations that can be performed by unlicensed agents who have been retained to manage an apartment building include:
A) rental or lease negotiations.
B) landlord–related solicitations.
C) accepting rents and security deposits.
D) entering into property management agreements with the landlord.

Answer 1

C) accepting rents and security deposits.

Question 2

2) Apartment complexes with \_\_\_\_\_\_\_\_\_ need to have a resident manager.
A) 12 or less units
B) a community pool
C) 16 or more units
D) an on-site fitness facility

Answer 2

C) 16 or more units

Question 3

3) The intangible image or opinion held about the property which affects its earning power is known as:
A) goodwill.
B) business operations.
C) opportunity costs.
D) conflicts of interest.

Answer 3

A) goodwill.

Question 4

4) A(n) \_\_\_\_\_\_ runs for an indefinite period of time since it automatically renews monthly, and on the same terms, until modified or terminated by notice.
A) fixed-term lease
B) month-to-month rental agreement
C) tenancy-at-sufferance
D) triple net lease

Answer 4

B) month-to-month rental agreement

Question 5

5) To avoid disputes over who is responsible for any damage to the premises, the residential landlord and tenant complete and sign a(n) \_\_\_\_\_\_ before the tenant is given possession.
A) Notice of Nonresponsibility
B) open listing
C) right of first refusal
D) condition of premises addendum

Answer 5

D) condition of premises addendum

Question 6

6) A lease agreement conveying a term of occupancy exceeding \_\_\_\_\_\_ needs to be written to be enforceable, a requirement of the statute of frauds.
A) 90 days
B) 120 days
C) 6 months
D) one year

Answer 6

D) one year

Question 7

7) A(n) \_\_\_\_\_\_\_\_ provision in a lease assures application of California law when a dispute arises between a tenant and landlord.
A) choice-of-law
B) hold harmless
C) subtenancy
D) attorney fee provision

Answer 7

A) choice-of-law

Question 8

8) A landlord under a month-to-month rental agreement can increase the rent or shift repair and maintenance obligations to the tenant by serving a(n):
A) unlawful detainer (UD) action.
B) 60-Day Notice to Pay Rent or Quit.
C) 30-Day Notice of Change in Rental Terms.
D) 30-Day Notice to Vacate.

Answer 8

C) 30-Day Notice of Change in Rental Terms.

Question 9

9) A \_\_\_\_\_\_ provides a source of recovery for money losses incurred by the landlord due to a tenant default on monetary obligations agreed to in the rental or lease agreement.
A) tenant screening fee
B) security deposit 
C) Real Estate Recovery Fund
D) savings account

Answer 9

B) security deposit

Question 10

10) If no repairs are made to a rental unit, the residential landlord needs to refund the security deposit, less reasonable deductions, within \_\_\_\_\_ days after a tenant vacates.
A) 7
B) 19
C) 21
D) 30

Answer 10

C) 21