Test
Confidence Builder 18
Crea una cuenta gratis para terminar este test
Guarda tu progreso y consulta tu resultado final.
¿Ya tienes cuenta? Inicia sesión
Preguntas del test (23)
1Which of the following is/are true concerning estates?
I. A freehold estate is characterized by a lifetime, which is indefinite in nature
II. A nonfreehold estate implies a definite period of time.- AI only
- BII only
- CBoth I and II
- DNeither I nor II
2Which of the following is nonfreehold estate?
- Ajoint tenancy
- Blife estate
- Cfee defeasible
- Dtenancy for years
3Jane Smith signed a lease for one year, at a rent of $200 per month. What is the maximum security deposit a landlord could collect from Jane?
- A$200
- B$300
- C$400
- D$500
4A holdover tenant is also known as a:
- Atenant at will
- Btenant for years
- Ctenant at sufferance
- Djoint tenant
5When creating an operating statement, what factor/s should a broker/property manager use to determine the appropriate rate for rental units?
- Alandlord's need to increase the net operating income
- Bvacancy rates and rental rates on comparable properties
- Cprojected monthly operating expenses
- Demployment rates in the area
6A landlord with a troublesome tenant can:
- Aobtain constructive eviction
- Bpractice self-help eviction
- Cpractice retaliatory eviction
- Dpursue summary ejectment
7Which of the following statements regarding property management is TRUE?
I. Salaried employees of an owner who provide basic clerical services to the owner do not need a real estate license
II. Any lease negotiation by an owner's representative requires a real estate license
III. If the property manager is the owner's agent, then the individual must have a broker license- AI only
- BII and III only
- CI and III
- DI, II and III
8Which of the following is TRUE regarding debt service?
- ADebt service is not considered an operating expense
- BDebt service is not considered in computing NOI
- CDebt service includes principal and interest
- DAll of the above
9The following expenditures are types of operating expenses except:
- Afixed expenses
- Bvariable expenses
- Cvacancy losses
- Dreserve for replacements
10In a constructed operating statement, variable expenses are least likely to include:
- Amanagement expenses
- Belectrical expense
- Ctaxes and insurance
- Dmaintenance expenses
11If effective gross income is $112,000; property taxes are $7,000; insurance is $1000; variable expenses are $3,000; reserves are $1000; debt service is $40,000, principal is $8,000 and depreciation is $20,000, what is the cash throw off?
- A$68,000
- B$60,000
- C$52,000
- D$32,000
12If the down payment on the property described in the question above was $1,200,00 what was the return on equity? (CTO is $60,000)
- A2.5%
- B2.6%
- C5.0%
- D15.0%
13The least effective form of business entity if an owner wish to protect him/herself from liability is the:
- Alimited liability company
- Bcorporation for profit
- Csole proprietorship
- Dgeneral partnership
14It is required to notify the secretary of state of NC, if one wishes to create a:
I. general partnership
II. sole partnership
III. corporation
IV. limited liability company- AI and III
- BI and IV
- CII only
- DIII and IV
15If an individual wanted to invest in real estate but did not want to participate in the management of the real estate asses, the individual should be:
- Alimited partner
- Ba general partner
- Ca joint tenant with right of survivorship
- Da Chaper S corportation
16A lease where there are systematic increases in the rent
- AGraduated
- BIndex
- CNet
- DGross
17Use primarily in retail space. Tenant pays % of gross rent receipts tot he landlord
- APercentage
- BFull Service Lease
- CNet Lease
- DGround Lease
18The rent is based on a measure of costs.
- AIndex
- BNet
- CGross
- DFull Service
19Used in multi-tenant commercial property where the lesses share overall operating expenses, including security guards and secretarial staff, for example.
- AFull service Lease
- BNet Lease
- CGross Lease
- DIndex Lease
20Landlord pays some or all of the operating expenses. Used in most residential leases.
- AGross Lease
- BIndex Lease
- CNet Lease
- DOil and Mineral Lease
21Must be in writing no matter the length. Entitles lessee to mineral rights on property.
- AOil and Mineral Leases
- BIndex Lease
- CGross Lease
- DPercentage Lease
22Tenant pays some or all of the operating expenses, plus rent. Used in office rentals.
- ANet Lease
- BGross Lease
- CGraduated Lease
- DGround Lease
23Lease of vacant land for a long period of time.
- AGround Lease
- BNet Lease
- CGross Lease
- DPercentage Lease
Información
- Descripción
- Real Estate Licensing Exam Confidence Builders Test sobre Confidence Builder 18, creado por brhew el 11/04/2015.
- Autor
- brhew
- Idioma
- English
- Visitas
- 2
- Etiquetas
- Valoración
- Aún sin valoraciones Valora este test