1. A landlord’s responsibilities include:

A. protecting tenant’s health and safety                 C. giving 24 hours notice before entering rental
B. obeying fair housing laws                                  D. all of the above

2. A net lease is one in which the lessee pays for:

A. property taxes            C. operating expenses
B. insurance                     D. all of the above

3. Which of the following is NOT a way to terminate a lease?

A. Making monthly payments                 C. Surrender of the lease
B. Destruction of the premises                 D. Expiration of the term

4. A lease is usually a(n):

A. estate for years                 C. tenancy at will
B. periodic tenancy                 D. tenancy at sufferance

5. A transaction where an owner sells his or her property to another party and leases the property from the new owner for a stated period of time is known as a:

A. sale-lease back                             C. ground lease
B. Lease purchase option                    D. net lease

6. Which of the following is NOT a type of leasehold estate?

A. Estate for years                   C. Life estate
B. Estate at will                      D. Estate at sufferance

7. In a landlord/tenant situation, who would be called the lessor?

A. Tenant                        C. Licensee
B. Owner                       D. Any of the above

8. The amount of rent stated in the rental agreement is the:

A. economic rent                 C. contract rent
B. justifiable rent                     D. Iegal rent

9. An estate where a tenant continues to retain possession, without the landlord’s consent, after the expiration of the lease term is called a(n):

A. estate at sufferance                             C. estate at will
B. Iess-than-freehold estate                      D. estate in reversion

10. Unless stated otherwise, and if no expiration date is given, a 30-day notice must be given to terminate a month-to-month tenancy by the:

A. Iessor                     C. either lessor or lessee
B. Iessee                     D. resident property manager

11. If a retail store rents for $5000 a month or 12% of the gross sales, the tenant has what type of lease?

A. gross lease                             C. graduated lease
B. percentage lease                    D. net lease

12 An estate at sufferance does NOT require a notice of termination because:

A. the lease has already expired                  C. it is generally for less than a year
B. it is considered trespassing                     D. all of the above

13. The amount that a property should rent for in the current open market is called the:

A. assignment rent                 C. economic rent
B. contract rent                     D. sublease rent

14. Which legal document allows a marshal to physically evict a tenant?

A. Unlawful detainer         C. Writ of possession
B. Quit notice                     D. All of the above

15. Selling an apartment:

A. is impossible if tenant has a lease                 C. does NOT terminate a tenant’s lease
B. terminates a tenant’s lease                             D. none of the above

16. The lessee is the:

A. owner or agent                 C. landlord
B. grantor                             D. tenant

17. An exclusive right to occupy and use property on a temporary basis is known as a(n):

A. estate in fee             C. estate for life
B. Leasehold                D. estate in remainder

18. A lease can be for any predetermined time, up to how many years?

A. 99 years                          C. 10 years
B. 100 years                       D. 50 years

19. A transfer of an ENTIRE lease from one person to another is known as a(n):

A. sublease                             C. assignment
B. sandwich lease                    D. provisional lease

20. When a person temporarily rents out an apartment on which he or she holds a lease, it is called:

A. sublease                  C. assignment
B. tenure                     D. transfer