property management test practice Latest recent &
frequently tested exam with questions and verified accurate
solutions (detailed & elaborated) GRADED A+
, 1. When a Property Manager's fee is withdrawn from the clients' trust account, it must be posted to the
respective
owner's ledger. The entry on the ledger must include among other things, all of the following EXCEPT -
correct ans:the account where the fee was deposited.
2. What financial reports are needed to provide an accurate monthly report to an owner? - correct
ans:Current income and expenses and the invoices and receipt report.
3. Which of the following is NOT one of the 7 federally protected classes under Fair Housing? - correct
ans:Marital status
4. Of the following, who must have a property manager's license? - correct ans:A person, for a fee,
manages properties for others.
5. A leasehold estate that has a definite beginning and ending date and does not automatically renew is
known as - correct ans:an estate for years.
6. A woman believes she has been kept from being shown a desirable property because of her gender.
To seek
redress for her grievance, her course of action should be to file a _______ - correct ans:complaint with
HUD.
7. The term that describes a tenant's interest in a property is a _____ - correct ans:leasehold estate
8. Which of the following activities is a violation of the Federal Housing Act? - correct ans:A nonprofit
church denies access to its retirement home because of race.
9. When a leased property reaches a physical condition whereby the tenant is unable to occupy for the
purpose
intended, the situation is legally recognized as - correct ans:constructive eviction.
10. Which of the following is a required duty by a property manager? - correct ans:Reconcile the clients'
trust account each month.
frequently tested exam with questions and verified accurate
solutions (detailed & elaborated) GRADED A+
, 1. When a Property Manager's fee is withdrawn from the clients' trust account, it must be posted to the
respective
owner's ledger. The entry on the ledger must include among other things, all of the following EXCEPT -
correct ans:the account where the fee was deposited.
2. What financial reports are needed to provide an accurate monthly report to an owner? - correct
ans:Current income and expenses and the invoices and receipt report.
3. Which of the following is NOT one of the 7 federally protected classes under Fair Housing? - correct
ans:Marital status
4. Of the following, who must have a property manager's license? - correct ans:A person, for a fee,
manages properties for others.
5. A leasehold estate that has a definite beginning and ending date and does not automatically renew is
known as - correct ans:an estate for years.
6. A woman believes she has been kept from being shown a desirable property because of her gender.
To seek
redress for her grievance, her course of action should be to file a _______ - correct ans:complaint with
HUD.
7. The term that describes a tenant's interest in a property is a _____ - correct ans:leasehold estate
8. Which of the following activities is a violation of the Federal Housing Act? - correct ans:A nonprofit
church denies access to its retirement home because of race.
9. When a leased property reaches a physical condition whereby the tenant is unable to occupy for the
purpose
intended, the situation is legally recognized as - correct ans:constructive eviction.
10. Which of the following is a required duty by a property manager? - correct ans:Reconcile the clients'
trust account each month.
