21. When a landowner leases unimproved land to a tenant for a term of 50 years,
ID: 2649426 • Letter: 2
Question
21. When a landowner leases unimproved land to a tenant for a term of 50 years, and the tenant agrees to erect a building on the land, the lease is usually called
A. an improvement lease
B. a triple net lease
C. a ground lease
D. a gross lease
22. A man operates a small store in a shopping center. Under the terms of lease, they landlord pays all operating expenses. The man pays a base rent of $1,000 per month, plus 15% of monthly gross pro?ts over $10,000. The man has a
A. variable lease
B. Gross lease.
C. net lease
D. percentage lease.
The characteristics of value include
A. popularity, location, price, and transferability
B. demand, utility, price, and transferability
C. demand, scarcity, price, and popularity
D. demand, utility, scarcity, and transferability
24. All of these are principal responsibilities of the property manager EXCEPT
A. preserving and/or increasing the value of the property
B. Generating income for the owners
C. forcibly removing tenants for nonpayment of rent.
D. Achieving the objectives of the owners
25. A broker is showing a house to a prospective buyer. He points out the rustic of the sagging front porch and refers to a weed-choked backyard as a delightful garden. The broker is engaging in
A. Puffing
B. fraud
C. intentional misrepresentation
D. negligent misrepresentations
26. A borrower defaulted on his mortgage loan, leaving an unpaid balance of $95,000. After receiving only $85,000 from the sale of the property, the lender will most likely ?le for a
A. de?ciency judgment
B- lis pendens
C. release deed
D. Satisfaction piece.
27. The decision whether to buy or rent should involve consideration of
A. the availability of a reverse mortgage
B. the terms of the security agreement
C. whether or not the property is located in a title theory state.
D. housing affordability and current mortgage interest rates
28. The principle of value that is the interaction of supply and demand is called
A. competition
B. anticipation
C. conformity
D. contribution
29. All of these are ways for a broker to charge for services EXCEPT
A. hourly rate
B. standard community rate
C. ?at fees
D. commission based on a percentage of the selling price
30. Which of these reports would a real estate salesperson most likely create and deliver a prospective seller?
A. An appraisal
B. A cost bene?t analysis
C. A comparative market analysis
D. A letter of intent
This is Fin real estate
Explanation / Answer
Answer:21 C. a ground lease
Answer:22 B. Gross lease
Answer:23 D. demand, utility, scarcity, and transferability
Answer:24 C. forcibly removing tenants for nonpayment of rent.
Answer:25 A. Puffing
Answer:26 D. Satisfaction piece.
Answer:27 D. housing affordability and current mortgage interest rates
Answer:28 C. conformity
Answer:29 A. hourly rate
Answer:30 D. A letter of intent
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