Leasing Agent Practice Review questions with verified
answers
Acceptance by Ratification Ans✓✓✓ The acceptance of lease terms that occurs
when a tenant takes possession of the property but does not sign a lease. This
form of acceptance is recognizable by the courts.
Accord and Satisfaction Ans✓✓✓ When all parties have agreed to a change in
one or more of the terms of a contract.
Administrative Law Judge (ARJ) Ans✓✓✓ A judge who hears complaints and
considers evidence regarding violations of the Fair Housing Act.
Agency Ans✓✓✓ The legal relationship created when one person represents
another.
Air Rights Ans✓✓✓ The right to use the open space above a property, usually
allowing the surface to be used for another purpose/Rights to use the space
above the surface of land upward into the sky.
Americans with Disabilities Act of 1990 Ans✓✓✓ A comprehensive civil rights for
the protection of persons with physical and mental disabilities. The law mandates
equal access to jobs, public accommodations, government services, public
transportation and tele communications.
Assignment Ans✓✓✓ The act of one party to a contract allowing someone else
to assume all of his/her rights under the contract.
, Bilateral Contract Ans✓✓✓ contract in which both parties exchange promises
Block busting (panic peddling) Ans✓✓✓ Inducing an owner to sell on rent a
dwelling by making representations regarding the entry of persons of a protected
class, also referred to as "panic peddling"/basis that neighborhood is
deteriorating or minority's moving in
Breach of Contract Ans✓✓✓ The action or lack of action of one party to a
contact which violates the terms of agreement.
Brokerage Agreement Ans✓✓✓ The relationship created between a sponsoring
broker and any member of the public who is receiving real estate services through
the sponsoring broker or the broker's sponsored licensees.
Chattel Ans✓✓✓ Personal property, or objects which are not permanently
affixed to land.
Civil Rights Act of 1866 Ans✓✓✓ guaranteed that everyone, regardless of race or
color, were entitled to the same treatment in public areas (inns, theatres, etc.)
/This act specifically provides that all citizens shall have the same right to inherit,
purchase, sell or lease real and personal property.
Client Ans✓✓✓ A person who is being represented by a licensee; the principal.
Comepetition Ans✓✓✓ Anything of value that is given in exchange for real
estate services
answers
Acceptance by Ratification Ans✓✓✓ The acceptance of lease terms that occurs
when a tenant takes possession of the property but does not sign a lease. This
form of acceptance is recognizable by the courts.
Accord and Satisfaction Ans✓✓✓ When all parties have agreed to a change in
one or more of the terms of a contract.
Administrative Law Judge (ARJ) Ans✓✓✓ A judge who hears complaints and
considers evidence regarding violations of the Fair Housing Act.
Agency Ans✓✓✓ The legal relationship created when one person represents
another.
Air Rights Ans✓✓✓ The right to use the open space above a property, usually
allowing the surface to be used for another purpose/Rights to use the space
above the surface of land upward into the sky.
Americans with Disabilities Act of 1990 Ans✓✓✓ A comprehensive civil rights for
the protection of persons with physical and mental disabilities. The law mandates
equal access to jobs, public accommodations, government services, public
transportation and tele communications.
Assignment Ans✓✓✓ The act of one party to a contract allowing someone else
to assume all of his/her rights under the contract.
, Bilateral Contract Ans✓✓✓ contract in which both parties exchange promises
Block busting (panic peddling) Ans✓✓✓ Inducing an owner to sell on rent a
dwelling by making representations regarding the entry of persons of a protected
class, also referred to as "panic peddling"/basis that neighborhood is
deteriorating or minority's moving in
Breach of Contract Ans✓✓✓ The action or lack of action of one party to a
contact which violates the terms of agreement.
Brokerage Agreement Ans✓✓✓ The relationship created between a sponsoring
broker and any member of the public who is receiving real estate services through
the sponsoring broker or the broker's sponsored licensees.
Chattel Ans✓✓✓ Personal property, or objects which are not permanently
affixed to land.
Civil Rights Act of 1866 Ans✓✓✓ guaranteed that everyone, regardless of race or
color, were entitled to the same treatment in public areas (inns, theatres, etc.)
/This act specifically provides that all citizens shall have the same right to inherit,
purchase, sell or lease real and personal property.
Client Ans✓✓✓ A person who is being represented by a licensee; the principal.
Comepetition Ans✓✓✓ Anything of value that is given in exchange for real
estate services
