LEASING AGENT LATEST 2026 PRACTICE EXAM QUESTIONS
AND SOLUTIONS GUARANTEE A+
✔✔Involuntary Termination - ✔✔The cancellation of a lease against the tenant's wishes
through actual eviction, constructive eviction, eminent domain, mortgage foreclosure or
bankruptcy proceedings.
✔✔Joint Tenancy - ✔✔A form of co-ownership in which ownership interests of a
deceased owner become the property of the surviving owners.
✔✔Land - ✔✔The surface, subsurface and airspace, along with that which is
permanently attached.
✔✔Lease - ✔✔A bilateral contract in which the lessor (landlord) promises to provide
exclusive possession of the property in return for the lessee's (tenant's) promise to pay
rent.
✔✔Leasehold Estate or Interest - ✔✔The rights a tenant acquires in the lessor's
property, also known as a "tenancy."
✔✔Legal Purpose - ✔✔An act or use that is allowed by law.
✔✔Lessee - ✔✔The person receiving the lease, also known as the "tenant."
✔✔Lessor - ✔✔The owner or landlord providing the lease.
✔✔Menace - ✔✔The threat to use force to induce another to act against his/her will.
✔✔Misrepresentation - ✔✔The omission or distortion of facts
✔✔Monetary Damages - ✔✔Money awarded to the injured party of a breached contract
by the court system.
✔✔Novation - ✔✔All parties to the contract agree to a substitution of one of the parties
to the contract by creating a new agreement.
✔✔Offer and Acceptance - ✔✔The parties' agreement to the terms of a contract. A
"meeting of the minds."
✔✔Offeree - ✔✔A person receiving the offer.
✔✔Offeror - ✔✔A person making an offer.
✔✔Option - ✔✔A contract to hold an offer open for a specified period of time.
, ✔✔Ownership in Severalty - ✔✔Individual ownership of property by one person or entity
with no co-owners.
✔✔Panic Peddling - ✔✔Inducing an owner to sell or rent a dwelling by making
representations regarding entry of persons of a protected class. Also referred to as
"blockbusting."
✔✔Parol Evidence Rule - ✔✔The legal rule that prohibits courts from allowing oral
evidence to change the terms of a written contract
✔✔Periodic Tenancy - ✔✔A lease that has no specific ending date, will automatically
renew itself, and goes from period to period, as in month-to-month.
✔✔Personal Property - ✔✔Property not permanently affixed to the land, also called
"chattel" or "personalty."
✔✔Place of Public Accommodation - ✔✔A privately owned business or facility that
affects commerce and falls within at least one of several specified categories from the
Americans With Disabilities Act.
✔✔Protected Class - ✔✔A group of individuals protected under the Fair Housing Act.
✔✔Provisions of Law - ✔✔Statements required by local, state and federal laws. Fair
housing and human rights provisions would be part of these laws.
✔✔Punitive Damages - ✔✔Money awarded by the court to an injured party of a
breached contract to punish the party who caused the breach.
✔✔Purchase Option - ✔✔A lease clause that gives the lessee the right to purchase the
property under certain conditions.
✔✔Real Estate - ✔✔Land and all leaseholds and other interest in land.
✔✔Real Property - ✔✔Land and improvements that are permanently attached to the
land.
✔✔Realty - ✔✔The surface, subsurface and airspace, along with that which is
permanently attached.
✔✔Renewal Option - ✔✔A lease clause that gives the lessee the right to extend the
lease term under certain conditions.
✔✔Rent - ✔✔Money paid for use of leased property
AND SOLUTIONS GUARANTEE A+
✔✔Involuntary Termination - ✔✔The cancellation of a lease against the tenant's wishes
through actual eviction, constructive eviction, eminent domain, mortgage foreclosure or
bankruptcy proceedings.
✔✔Joint Tenancy - ✔✔A form of co-ownership in which ownership interests of a
deceased owner become the property of the surviving owners.
✔✔Land - ✔✔The surface, subsurface and airspace, along with that which is
permanently attached.
✔✔Lease - ✔✔A bilateral contract in which the lessor (landlord) promises to provide
exclusive possession of the property in return for the lessee's (tenant's) promise to pay
rent.
✔✔Leasehold Estate or Interest - ✔✔The rights a tenant acquires in the lessor's
property, also known as a "tenancy."
✔✔Legal Purpose - ✔✔An act or use that is allowed by law.
✔✔Lessee - ✔✔The person receiving the lease, also known as the "tenant."
✔✔Lessor - ✔✔The owner or landlord providing the lease.
✔✔Menace - ✔✔The threat to use force to induce another to act against his/her will.
✔✔Misrepresentation - ✔✔The omission or distortion of facts
✔✔Monetary Damages - ✔✔Money awarded to the injured party of a breached contract
by the court system.
✔✔Novation - ✔✔All parties to the contract agree to a substitution of one of the parties
to the contract by creating a new agreement.
✔✔Offer and Acceptance - ✔✔The parties' agreement to the terms of a contract. A
"meeting of the minds."
✔✔Offeree - ✔✔A person receiving the offer.
✔✔Offeror - ✔✔A person making an offer.
✔✔Option - ✔✔A contract to hold an offer open for a specified period of time.
, ✔✔Ownership in Severalty - ✔✔Individual ownership of property by one person or entity
with no co-owners.
✔✔Panic Peddling - ✔✔Inducing an owner to sell or rent a dwelling by making
representations regarding entry of persons of a protected class. Also referred to as
"blockbusting."
✔✔Parol Evidence Rule - ✔✔The legal rule that prohibits courts from allowing oral
evidence to change the terms of a written contract
✔✔Periodic Tenancy - ✔✔A lease that has no specific ending date, will automatically
renew itself, and goes from period to period, as in month-to-month.
✔✔Personal Property - ✔✔Property not permanently affixed to the land, also called
"chattel" or "personalty."
✔✔Place of Public Accommodation - ✔✔A privately owned business or facility that
affects commerce and falls within at least one of several specified categories from the
Americans With Disabilities Act.
✔✔Protected Class - ✔✔A group of individuals protected under the Fair Housing Act.
✔✔Provisions of Law - ✔✔Statements required by local, state and federal laws. Fair
housing and human rights provisions would be part of these laws.
✔✔Punitive Damages - ✔✔Money awarded by the court to an injured party of a
breached contract to punish the party who caused the breach.
✔✔Purchase Option - ✔✔A lease clause that gives the lessee the right to purchase the
property under certain conditions.
✔✔Real Estate - ✔✔Land and all leaseholds and other interest in land.
✔✔Real Property - ✔✔Land and improvements that are permanently attached to the
land.
✔✔Realty - ✔✔The surface, subsurface and airspace, along with that which is
permanently attached.
✔✔Renewal Option - ✔✔A lease clause that gives the lessee the right to extend the
lease term under certain conditions.
✔✔Rent - ✔✔Money paid for use of leased property
