GRI PRE EXAM QUESTIONS AND VERIFIED ANSWERS

GRI PRE EXAM QUESTIONS AND VERIFIED ANSWERS Which of the following types of leasehold estate lacks a specific term? - ANSWER Estate at will A landlord generally has the right to enter the leased premises: - ANSWER for specified reasonable purposes. Among a tenant's primary obligations in a lease is: - ANSWER compliance with the rules and regulations of the building. Among a landlord's primary obligations in a lease is: - ANSWER providing required building support and services. While a one-year lease is in effect, the tenant dies of a sudden illness. In this situation: - ANSWER the tenant's estate is still obligated under the lease. Three college friends rent a house together, and all three sign the lease. After a month, the friends argue and two of them move out. Which of the following is true of the rent obligation? - ANSWER The remaining tenant is responsible for the full rent obligation. A tenant transfers a portion of the leasehold interest to another party. The document that accomplishes this transfer is a(n): - ANSWER sublease. The type of lease in which the tenant pays all of the operating expenses of the property is a(n): - ANSWER net lease. The type of lease in which the landlord pays all the operating expenses of the property is a(n): - ANSWER gross lease. The type of lease in which the tenant pays rent based on income generated at the leased premises is a(n): - ANSWER percentage lease. Which of the following circumstances is the most likely scenario for the ground lease? - ANSWER A farmer wants to expand his productive acreage without buying more land. The basic feature that distinguishes a rights lease from other types of leases is: - ANSWER the absence of exclusive occupancy and possession from the rights leased. By suing for specific performance