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Adaptions of property specifications to suit tenant requirements are: - ANS-tenant
improvements
Broker Betty meets a young couple at an open house who are looking to purchase their
first home. The couple asked if the Broker thought they had enough income to qualify
for a loan to purchase the property. Realizing this information is of a confidential nature
Broker Betty makes the agency disclosure that her office policy and state statute
require. The buyers are very skeptical about making a commitment and have been
coached by family members not to sign anything. They refuse to sign the signature
block on the Brokerage Disclosure to Buyer form. Betty should: - ANS-make a note of
the date and time the disclosure was made and reference the fact that the buyers
declined to sign the form - then have the discussion
Reconciliation refers to: - ANS-monthly review and comparison of the bank statement
with your records
Regarding delivery of Earnest Money: - ANS-if other than at the time of tender of this
contract it must be delivered no later than the Alternative Earnest Money Deadline
The Interstate Land Sales Full Disclosure Act regulates the interstate sale of
unimproved lots. It is designed to: - ANS-prevent fraudulent marketing schemes when
land is sold prior to being seen
The Government's police powers enable the state to regulate and control the use of
land through: - ANS-zoning laws
The principal difference between an estate for years and a periodic estate from year to
year is that: - ANS-a periodic estate has no expiration date
If a group of people form a cooperative housing corporation, they will each buy: - ANS-
stock certificates
A situation in which the tenant's lease has expired and the tenant is no longer paying
rent, but is living on the property is known as an: - ANS-estate at sufferance
Building codes would most likely control: - ANS-type of materials used in buildings
,A security is a financial instrument backed by assets. They give the holder an interest or
right in something else. Regulation under state or federal securities laws may apply to
which of the following? - ANS-resort condominium project in which owners enter their
units in a common rental pool to enhance their income
Under the Federal and State Fair Housing Acts, to which of the following may a landlord
refuse to rent? - ANS-an apartment to three students for fear they will have loud parties
In which of the following instances would you use the Agreement to Amend/Extend
Contract? - ANS-to change the loan application deadline in an accepted purchase
contract
A counterproposal: - ANS-amends the terms and conditions of a proposed contract to
buy/sell
The type of lease that allows for the step-up of rent payments and is used to attract
tenants to difficult-to-rent properties is called a(n): - ANS-graduated lease
Should the lessor die after the lease has been signed by all parties what happens to the
lease? - ANS-unchanged
Assume that Mr. and Mrs. Davis did not sign the lease agreement, but upon taking
possession of the apartment on August 1 were handed a signed copy by landlord Smith.
On August 20, Mr. and Mrs. Davis move out claiming that since they had not signed the
agreement, it was a mere tenancy at will. Smith could: - ANS-sue Davis immediately for
the unpaid portion of the lease
Thompson is the owner of a store building that is leased to Floyd for a ten-year term. If
Thompson dies at the end of the seventh year of the lease: - ANS-Thompson's heirs
and devisees continue as lessors
An office rents for $4500 a month and measures 12 feet by 20 feet. The advertised
monthly rent per square foot for this space would be: - ANS-18.75
A retail space was leased for $1,200 per month. The owner also pays the shopping
center 8% of the gross income which is $50,000 monthly. How much does the owner
pay annually? - ANS-$62,400
A tenant leases a heated apartment, but the landlord fails to provide heat because of a
defective boiler. The tenant vacates and refuses to pay. This is an example of: - ANS-
constructive eviction
Frank and Betty Taylor's apartment lease has expired, but their landlord has indicated to
them that they may remain on the premises until a sale of the building is closed. The
Taylor's will be charged their normal monthly rent during this period. Their tenancy may
be called a(n): - ANS-estate at will
, Property management security depostis - ANS-should be held in a separate, security
deposit trust account by the property manager
When tenants hold possession of a landlord's property without a definite lease term or
agreement, but with the landlord's approval, this is called: - ANS-tenancy at will
Rent is best defined as: - ANS-consideration for the use and possession of real property
Under the provisions of the ordinary store lease, trade fixtures that remain in the store at
the expiration of the lease term will be the property of the: - ANS-lessor
The covenant implied in a lease that ensures that the tenant will not be evicted by
someone claiming prior ownership to that of the lessor is the: - ANS-covenant of quiet
enjoyment
The authority to carry out eviction of a delinquent tenant from rented property is held by:
- ANS-the sheriff
Under a lease for commercial property a tenant agrees to pay $4,000 per month plus
3% of the monthly sales. This type of lease is called a: - ANS-percentage lease
A real estate management office may receive its income as: - ANS-a fixed fee, a fixed
fee with a percentage on new rentals, a percentage of gross rentals collected
all of the above
If a landlord breaches a lease by allowing the property to fall into severe despair, which
causes her tenant to leave the property because it is uninhabitable, this is known as: -
ANS-constructive eviction
An oral lease for five years is generally: - ANS-unenforceable
The tenant may remove trade fixtures that have been affixed to a building if: - ANS-the
space is restored to its original condition
A tenancy that does not involve a landlord and tenant relationship is a: - ANS-tenancy in
common
Mr. Rob leases an apartment to Ms. Hall. Mr. Rob is called: - ANS-lessor
The Agreement to Amend/Extend is used to change the terms of: - ANS-an accepted
Contract to Buy and Sell Real Estate
All of the following are true in the Colorado Right-to-Buy Contract except: - ANS-allows
for the broker to be an agent for the sellers as well as the buyers
Updated
Adaptions of property specifications to suit tenant requirements are: - ANS-tenant
improvements
Broker Betty meets a young couple at an open house who are looking to purchase their
first home. The couple asked if the Broker thought they had enough income to qualify
for a loan to purchase the property. Realizing this information is of a confidential nature
Broker Betty makes the agency disclosure that her office policy and state statute
require. The buyers are very skeptical about making a commitment and have been
coached by family members not to sign anything. They refuse to sign the signature
block on the Brokerage Disclosure to Buyer form. Betty should: - ANS-make a note of
the date and time the disclosure was made and reference the fact that the buyers
declined to sign the form - then have the discussion
Reconciliation refers to: - ANS-monthly review and comparison of the bank statement
with your records
Regarding delivery of Earnest Money: - ANS-if other than at the time of tender of this
contract it must be delivered no later than the Alternative Earnest Money Deadline
The Interstate Land Sales Full Disclosure Act regulates the interstate sale of
unimproved lots. It is designed to: - ANS-prevent fraudulent marketing schemes when
land is sold prior to being seen
The Government's police powers enable the state to regulate and control the use of
land through: - ANS-zoning laws
The principal difference between an estate for years and a periodic estate from year to
year is that: - ANS-a periodic estate has no expiration date
If a group of people form a cooperative housing corporation, they will each buy: - ANS-
stock certificates
A situation in which the tenant's lease has expired and the tenant is no longer paying
rent, but is living on the property is known as an: - ANS-estate at sufferance
Building codes would most likely control: - ANS-type of materials used in buildings
,A security is a financial instrument backed by assets. They give the holder an interest or
right in something else. Regulation under state or federal securities laws may apply to
which of the following? - ANS-resort condominium project in which owners enter their
units in a common rental pool to enhance their income
Under the Federal and State Fair Housing Acts, to which of the following may a landlord
refuse to rent? - ANS-an apartment to three students for fear they will have loud parties
In which of the following instances would you use the Agreement to Amend/Extend
Contract? - ANS-to change the loan application deadline in an accepted purchase
contract
A counterproposal: - ANS-amends the terms and conditions of a proposed contract to
buy/sell
The type of lease that allows for the step-up of rent payments and is used to attract
tenants to difficult-to-rent properties is called a(n): - ANS-graduated lease
Should the lessor die after the lease has been signed by all parties what happens to the
lease? - ANS-unchanged
Assume that Mr. and Mrs. Davis did not sign the lease agreement, but upon taking
possession of the apartment on August 1 were handed a signed copy by landlord Smith.
On August 20, Mr. and Mrs. Davis move out claiming that since they had not signed the
agreement, it was a mere tenancy at will. Smith could: - ANS-sue Davis immediately for
the unpaid portion of the lease
Thompson is the owner of a store building that is leased to Floyd for a ten-year term. If
Thompson dies at the end of the seventh year of the lease: - ANS-Thompson's heirs
and devisees continue as lessors
An office rents for $4500 a month and measures 12 feet by 20 feet. The advertised
monthly rent per square foot for this space would be: - ANS-18.75
A retail space was leased for $1,200 per month. The owner also pays the shopping
center 8% of the gross income which is $50,000 monthly. How much does the owner
pay annually? - ANS-$62,400
A tenant leases a heated apartment, but the landlord fails to provide heat because of a
defective boiler. The tenant vacates and refuses to pay. This is an example of: - ANS-
constructive eviction
Frank and Betty Taylor's apartment lease has expired, but their landlord has indicated to
them that they may remain on the premises until a sale of the building is closed. The
Taylor's will be charged their normal monthly rent during this period. Their tenancy may
be called a(n): - ANS-estate at will
, Property management security depostis - ANS-should be held in a separate, security
deposit trust account by the property manager
When tenants hold possession of a landlord's property without a definite lease term or
agreement, but with the landlord's approval, this is called: - ANS-tenancy at will
Rent is best defined as: - ANS-consideration for the use and possession of real property
Under the provisions of the ordinary store lease, trade fixtures that remain in the store at
the expiration of the lease term will be the property of the: - ANS-lessor
The covenant implied in a lease that ensures that the tenant will not be evicted by
someone claiming prior ownership to that of the lessor is the: - ANS-covenant of quiet
enjoyment
The authority to carry out eviction of a delinquent tenant from rented property is held by:
- ANS-the sheriff
Under a lease for commercial property a tenant agrees to pay $4,000 per month plus
3% of the monthly sales. This type of lease is called a: - ANS-percentage lease
A real estate management office may receive its income as: - ANS-a fixed fee, a fixed
fee with a percentage on new rentals, a percentage of gross rentals collected
all of the above
If a landlord breaches a lease by allowing the property to fall into severe despair, which
causes her tenant to leave the property because it is uninhabitable, this is known as: -
ANS-constructive eviction
An oral lease for five years is generally: - ANS-unenforceable
The tenant may remove trade fixtures that have been affixed to a building if: - ANS-the
space is restored to its original condition
A tenancy that does not involve a landlord and tenant relationship is a: - ANS-tenancy in
common
Mr. Rob leases an apartment to Ms. Hall. Mr. Rob is called: - ANS-lessor
The Agreement to Amend/Extend is used to change the terms of: - ANS-an accepted
Contract to Buy and Sell Real Estate
All of the following are true in the Colorado Right-to-Buy Contract except: - ANS-allows
for the broker to be an agent for the sellers as well as the buyers
