MONTANA PROPERTY MANAGEMENT
EXAM STUDY GUIDE
What should be specified on a move-in condition report of a unit intended to be let?
A. The number of deductions from the prior tenant
B. If the premises have never previously been let a statement indicating a fact
C. The Contact info. of the manager and/or landlord
D. The year the property was built - Correct Answers -B. If the premises have never
previously been let a statement indicating a fact
What Montana law prohibits discrimination against familial status?
A. Family Protection Act of 1974
B. Americans with Disabilities Act
C. Human Rights Act
D. Fair Housing Act - Correct Answers -C. Human Rights Act
A ____________ has a duration that is indefinite and is determined by the frequency of
rent payments.
A. Estate for years
B. Lease for years
C. Periodic tenancy
D. tenancy at sufferance - Correct Answers -C. Periodic tenancy
A tenant that continues to occupy a rental premise after the expiration of their lease is
referred to as a:
A. holdover tenant
B. sublessee
C. lessor
D. tenant with joint serverability - Correct Answers -A. holdover tenant
The board of realty regulations had the authority and responsibility to:
A. suspend and revoke licenses
B. initiate fair housing complains against licensees
C. issue paid judgements to consumers from the real estate recovery account
D. write statutory law - Correct Answers -A. suspend and revoke licenses
To investigate allegations of illegal discrimination, fair housing agencies will:
, A. use tester to gather info
B. retain from using testers
C. defer the matter to the courts
D. Immediately suspend any license from a licensee - Correct Answers -A. use tester to
gather info
The term "familial status" refers to:
A. the presence of a child under 18
B. whether the parties have been divorced or separated
C. the size of the extended family
D. whether or not there are 2 parents present - Correct Answers -A. the presence of a
child under 18
A property manager called 50 different families in a neighborhood, telling them that
native Americans were moving into the neighborhood and asking if they were interested
in viewing other properties around the city. This would be considered:
A. Redlining
B. Blockbusting
C. Steering
D. Familial status discrimination - Correct Answers -B. Blockbusting
Lead-Based paint disclosures are required for buildings built PRIOR to what year?
A. 1976
B. 1977
C. 1978
D. 1988 - Correct Answers -C. 1978
You lease a commercial building that is 55X60ft. The annual price per sq. ft. is $11.50.
A 5 year lease is signed, with a disclosure of 6 months free. The management fee is
8%. What is the average rent price per year?
A. $18,975
B. $34,155
C. $37,950
D. $170,775 - Correct Answers -B. $34,155
A property manager who manages the financials and oversight of multiple sites and
leasing agents is called a:
A. Comptroller
B. Capital supervisor
C. Fiduciary manager
D. Asset manager - Correct Answers -D. Asset manager
How much is the monthly rent for the office space that measures 30ft X 45ft., with a
yearly rent price of $7.50/sq. ft.?
A. $843.75
B. $912.50
EXAM STUDY GUIDE
What should be specified on a move-in condition report of a unit intended to be let?
A. The number of deductions from the prior tenant
B. If the premises have never previously been let a statement indicating a fact
C. The Contact info. of the manager and/or landlord
D. The year the property was built - Correct Answers -B. If the premises have never
previously been let a statement indicating a fact
What Montana law prohibits discrimination against familial status?
A. Family Protection Act of 1974
B. Americans with Disabilities Act
C. Human Rights Act
D. Fair Housing Act - Correct Answers -C. Human Rights Act
A ____________ has a duration that is indefinite and is determined by the frequency of
rent payments.
A. Estate for years
B. Lease for years
C. Periodic tenancy
D. tenancy at sufferance - Correct Answers -C. Periodic tenancy
A tenant that continues to occupy a rental premise after the expiration of their lease is
referred to as a:
A. holdover tenant
B. sublessee
C. lessor
D. tenant with joint serverability - Correct Answers -A. holdover tenant
The board of realty regulations had the authority and responsibility to:
A. suspend and revoke licenses
B. initiate fair housing complains against licensees
C. issue paid judgements to consumers from the real estate recovery account
D. write statutory law - Correct Answers -A. suspend and revoke licenses
To investigate allegations of illegal discrimination, fair housing agencies will:
, A. use tester to gather info
B. retain from using testers
C. defer the matter to the courts
D. Immediately suspend any license from a licensee - Correct Answers -A. use tester to
gather info
The term "familial status" refers to:
A. the presence of a child under 18
B. whether the parties have been divorced or separated
C. the size of the extended family
D. whether or not there are 2 parents present - Correct Answers -A. the presence of a
child under 18
A property manager called 50 different families in a neighborhood, telling them that
native Americans were moving into the neighborhood and asking if they were interested
in viewing other properties around the city. This would be considered:
A. Redlining
B. Blockbusting
C. Steering
D. Familial status discrimination - Correct Answers -B. Blockbusting
Lead-Based paint disclosures are required for buildings built PRIOR to what year?
A. 1976
B. 1977
C. 1978
D. 1988 - Correct Answers -C. 1978
You lease a commercial building that is 55X60ft. The annual price per sq. ft. is $11.50.
A 5 year lease is signed, with a disclosure of 6 months free. The management fee is
8%. What is the average rent price per year?
A. $18,975
B. $34,155
C. $37,950
D. $170,775 - Correct Answers -B. $34,155
A property manager who manages the financials and oversight of multiple sites and
leasing agents is called a:
A. Comptroller
B. Capital supervisor
C. Fiduciary manager
D. Asset manager - Correct Answers -D. Asset manager
How much is the monthly rent for the office space that measures 30ft X 45ft., with a
yearly rent price of $7.50/sq. ft.?
A. $843.75
B. $912.50
