REAL PROPERTY MANAGEMENT TEST
BANK COMPLETE QUESTIONS AND
EXPERT REVIEWED ANSWERS
●● General Agent
Answer: An agent authorized to handle any and all of the principal's
affairs in a specified job or business area, for example, a real estate
broker who is a property manager.
●● Percentage Fee
Answer: A fee that is based on a property's gross collectible income.
●● Property Management
Answer: Managing the leasing or renting, or offering to lease or rent,
real property of others for a fee, commission, compensation, or other
valuable consideration under the terms of a property management
agreement.
●● Property Management Agreement
Answer: A written agreement that creates an agency relationship
between the property owner and the property manager.
●● Property Manager
BANK COMPLETE QUESTIONS AND
EXPERT REVIEWED ANSWERS
●● General Agent
Answer: An agent authorized to handle any and all of the principal's
affairs in a specified job or business area, for example, a real estate
broker who is a property manager.
●● Percentage Fee
Answer: A fee that is based on a property's gross collectible income.
●● Property Management
Answer: Managing the leasing or renting, or offering to lease or rent,
real property of others for a fee, commission, compensation, or other
valuable consideration under the terms of a property management
agreement.
●● Property Management Agreement
Answer: A written agreement that creates an agency relationship
between the property owner and the property manager.
●● Property Manager
