Property Study guides, Class notes & Summaries

Property Management Exam 1 Latest Questions with 100% Accurate Answers goal of the resident manager - Answer ️️ -increase net operating income obligation of the manager - Answer ️️ -provide the highest quality of living environment to residents while preserving the property's value and producing a profit for the owner key to success of the resident manager - Answer ️️ -to work effectively with the on-site team site-based positions - Answer ️️ -leasing professional, assista...

Property (Bar Exam) Questions & Answers 2023/2024 Two Types of Estates: - ANSWER-Freehold Leasehold The 4 types of Freehold Estates: - ANSWER-1) life estate → the right to possess for your life or someone else's 2) fee tail 3) fee simple absolute → all the rights one can possess 4) defeasible fees → an interest with a future interest attached An Estate's Distinguishing Characteristics: - ANSWER-1) whether it is devisable → can it pass by will? 2) whether it is descendable...

Property & Casualty Practice Exam: Commercial LinesWho is responsible for damage to improvements in a leased building? A) Tenant B) Building owner C) Improvements to a leased building are not covered D) Both the tenant and the building owner - correct answer B Equipment Breakdown insurance covers all of the following, EXCEPT: A) Equipment powered by internal pressure B) Mechanical equipment used to produce energy C) Tools subject to regular replacement D) Communications equipment - co...

Real property is CORRECT ANSWER-comprised of buildings, structures and fixtures that are tangible. Real property can be seen. Give examples of Real Property CORRECT ANSWER-Land is real property, but it is generally not the subject of insurance. Buildings are real property. They have walls and a roof. You can probably envision many types of buildings, ranging from a small one-story office to a skyscraper. Structures. A structure is any construction, including buildings. However, exampl...

California property and casualty exam

NJ Property State Exam With 100% Correct Answers 2023 NJ Property State Exam With 100% Correct Answers 2023 Risk the chance or uncertainty of loss Risk used within the insurance industry to refer to the subject of the insurance policy Possibility of loss the concept of risk involves ___________________ Insurance a formal social device used to accomplish the transfer of risk from an insured to the insurer Insurance policy a legal contract in which the premium paid represents a smal...

TEST BANK for Dynamic Business Law: The Essentials, 5th Edition Kubasek, Browne, Herron, Dhooge, Barkacs. ISBN13: 3382 . (Complete Chapters 1-25) PART 1: The Legal Environment of Business C h. 1 An Introduction to the Fundamentals of Dynamic Business Law Ch. 2 Business Ethics and Social Responsibility Ch. 3 The U.S. Legal System and Alternative Dispute Resolution Ch. 4 Administrative Law Ch. 5 Constitutional Law Ch. 6 Criminal Law and Business Ch. 7 Tort Law Ch. 8 Real, Personal, and Intellectua...

Michigan Property & Casualty Exam With Questions And Answers...

How, generally, do the severity and frequency of theft losses differ from the severity and frequency of fire losses? - Answer- Theft losses are more frequent but less severe compared to fire. What are some possible deficiencies of burglar alarm systems? - Answer- -Hold up alarms may compromise employee safety. -False alarms can lead to late responses. -Alarms don't stop burglars, only reduce their operating time Why do the strategies and methods of risk control for employee theft differ...

Identify the acronyms FCIC and NCIC. FCIC- Florida Crime Information Center NCIC- National Crime Information Center Determine what information is available through FCIC. Information contained in the FCIC database includes but is not limited to the following: 6) 1. Statewide information on persons and property. 2. Driver's license and registration information. 3. Wanted and missing persons 4.. Stolen guns 5. Vehicles, and other property, and persons' status files 6. Computerized...