Real Estate 101 - Real Estate Principles » Fall 2021 » Chapter 7 Quiz

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Question #1
A transfer of an ENTIRE lease from one person to another is known as a(n):
A.   sandwich lease.
B.   sublease.
C.   assignment.
D.   provisional lease.
Question #2
A landlord’s responsibilities include:
A.   all answers are correct.
B.   giving 24 hours notice before entering rental.
C.   obeying fair housing laws.
D.   protecting tenant’s health and safety.
Question #3
An exclusive right to occupy and use property on a temporary basis is known as a(n):
A.   estate in fee.
B.   estate for life.
C.   estate in remainder.
D.   leasehold.
Question #4
Which of the following is NOT a way to terminate a lease?
A.   Destruction of the premises
B.   Making monthly payments
C.   Expiration of the term
D.   Surrender of the lease
Question #5
Selling an apartment:
A.   is impossible if tenant has a lease.
B.   none of the answers are correct.
C.   does NOT terminate a tenant’s lease.
D.   terminates a tenant’s lease.
Question #6
A transaction where an owner sells his or her property to another party and leases the property from the new owner for a stated period of time is known as a:
A.   lease purchase option.
B.   ground lease.
C.   sale-leaseback.
D.   net lease.
Question #7
In a landlord/tenant situation, who would be called the lessor?
A.   Owner
B.   Licensee
C.   Tenant
D.   None of the answers are correct
Question #8
An estate where a tenant continues to retain possession, without the landlord’s consent, after the expiration of the lease term is called a(n):
A.   estate at will.
B.   estate at sufferance.
C.   less-than-freehold estate.
D.   estate in reversion.
Question #9
When a tenant has lived on a property for less than one year, how many days notice is a landlord required to give to terminate a month-to-month lease?
A.   30 days.
B.   90 days.
C.   45 days.
D.   No notice required.
Question #10
The amount of rent stated in the rental agreement is the:
A.   contract rent.
B.   legal rent.
C.   justifiable rent.
D.   economic rent.
Question #11
If a retail store rents for $5000 a month or 12% of the gross sales, the tenant has what type of lease?
A.   Graduated lease
B.   Net lease
C.   Percentage lease
D.   Gross lease
Question #12
The amount that a property should rent for in the current open market is called the:
A.   sublease rent.
B.   economic rent.
C.   assignment rent.
D.   contract rent.
Question #13
An estate at sufferance does NOT require a notice of termination because:
A.   all answers are correct.
B.   it is considered trespassing.
C.   the lease has already expired.
D.   it is generally for less than a year.
Question #14
Which legal document allows a sheriff to physically evict a tenant?
A.   Quit notice
B.   Unlawful detainer
C.   Writ of possession
D.   All answers are correct
Question #15
Which of the following is NOT a type of leasehold estate?
A.   Life estate
B.   Estate at will
C.   Estate for years
D.   Estate at sufferance
Question #16
The lessee is the:
A.   owner or agent.
B.   landlord.
C.   grantor.
D.   tenant.
Question #17
A lease for a fixed (predetermined) period of time is a(n):
A.   estate for years.
B.   periodic tenancy.
C.   tenancy at will.
D.   tenancy at sufferance.
Question #18
A lease for a property in a town or city can be for any predetermined time, up to how many years?
A.   50 years
B.   10 years
C.   100 years
D.   99 years
Question #19
A "net lease" is one in which the lessee pays for:
A.   insurance.
B.   all answers are correct.
C.   operating expenses.
D.   property taxes.
Question #20
When a person temporarily rents out an apartment on which he or she holds a lease, it is called a(n):
A.   assignment.
B.   tenure.
C.   transfer.
D.   sublease.

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