Pre-Course Quiz

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1. Cost for professional management depends upon all except which of the following?
Local Board of Realtors policy
Type of property
Size of property
Competition
2. Items needed to manage income property include all except which of the following?
Rent roll
Check register
Computer
Maintenance log
3. National studies indicate an average annual real cost of maintenance in a large complex and for single family homes is about:
$500 & $700
$900 & $1,400
$1,200 & $600
$700 & $1,100
4. Issues of significant concern when using a repair person usually include which of the following?

All of the below
Is the person an independent contractor
Is the person licensed
Is the person insured

5. Reasons to use a licensed contractor usually include all except which of the following?
Provides access to a recovery fund
You will not have to pay for bad workmanship
Liability insurance is required
Required permits will be obtained
6. The most important protection against a bad tenant is:
Good lease agreement
Eviction
Application
Checklists
7. The following clauses usually appear in commercial leases but are are not usually found in residential leases except for:
Lock-out provisions
Option to renew or extend
Holding over terms
Common area expense contribution
8. The average settlement paid by a landlord's insurance company and the average jury award are:
$600,000 & $1,200,000
$900,000 & $1,800,000
$800,000 & $900,000
$500,000 & $$1,800,000
9. Health hazards of concern in a property built before 1987 include which of the following?
Asbestos
Radon
Mold
All of the above
10. The following statements regarding carbon monoxide are true except for which one?
CO is colorless
CO results from burning fossil fuels
CO has a slight "rotten egg" odor
CO detectors should be mounted between knee and shoulder level
11. When you convert your personal residence to a rental, you can retain the same insurance policy.
True
False
12. The basis of the legal relationship between a landlord and tenant is grounded in all except which of the following?
Contract law
Department of real estate regulations
Property law
Consumer protection statutes
13. A landlord must be most concerned about which of the following issues?
Right to privacy
Warranty of habitability
Security deposit laws
All of the above  
14. Which of the following contains a class that is not protected by the Federal Fair Housing Act of 1968?
Color, race, age, national origin, familial status
Color, religion, sex, disability, national origin
Race, sex, familial status, color, religion, disability
Race, religion, disability, national origin, color
15. Which of the following is probably required to accommodate a disabled applicant?

Allow tenant to build wheel chair ramp
Allow tenant to keep a cat against your "no pets" policy
Assign tenant the parking space nearest to his unit
All of the above

16. Which of the following is not provided an exemption under the Federal Fair Housing Act of 1968?
Private clubs
Owner-occupied 5 units or less
Religious organizations
 Senior housing
17. The maximum civil penalty for a landlord's first violation of federal fair housing laws is:
$25,000
$15,000
$10,000
$5,000
18. Credit reports usually show all except which of the following information:
Payment history
Criminal record
Judgments
Inquiries
19. Which of the following is the most important part of investigation phase of tenant screening? 
Credit report
Checking with most recent landlord
Verifying identity
Verifying employment
20. The best way to select among several qualified applicants is:
The first qualified
The most qualified
A qualified minority
Draw a name from a hat 
21. The majority of states regulate security deposits in all except which of the following ways?
The amount that can be collected
Where the deposit must be kept
When it must be returned following the end of tanancy
The amount of interest that must be paid
22. Which of the following cannot be deducted from the security deposit of a tenant who breaks his lease?
Late charges
Damages
Ordinary wear and tear
Unpaid rent
23. Which of the following includes an item that is not usually a cost of vacancy?
Advertising, cleaning, re-decorating
Cleaning, re-roofing, utilities
Advertising, leasing commission, utilities
Re-carpeting, cleaning, utilities, 
24. In most communities, a landlord's ability to increase rents is limited by all except which of the following?
Competition 
Tenant income
Rent control
Marketing talent

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Copyright 2003-2004 by Ralph E. Leach