#shortsbeta #Chapter1 #RealEstatePractice
Real Estate Practice Test
Full Chapter 12: Leasing and Property Management
Question 131: What percentage of a tenant’s median income in Los Angeles will go towards their monthly rental expenses?
A. 25%.
B. 33%.
C. 42%.
D. 50%.
Correct answer is D. 50%.
Question 132: Which investment return category provides owners with lowest cash down options?
A. Appreciation.
B. Leverage.
C. Cash Flow.
D. Debt-to-income ratios.
Correct answer is B. Leverage.
Question 133: Which leasehold interest has a definite starting and ending date for less than a year?
A. Periodic tenancy.
B. Joint tenancy.
C. Estate at sufferance.
D. Estate for years.
Correct answer is D. Estate for years.
Question 134: The most common lease agreement offered by large apartment buildings is ______..
A. Estate at will.
B. Periodic tenancy.
C. Estate for years.
D. Beneficial tenancy.
Correct answer is B. Periodic tenancy.
Question 135: The type of lease agreement when a tenant continues to live in a property well after the signed lease term has expired is ______..
A. A lease default.
B. Estate at sufferance.
C. Estate at will.
D. Estate for years.
Correct answer is B. Estate at sufferance.
Question 136: What is the maximum amount of a security deposit that a landlord may collect upfront from a new tenant for an unfurnished unit?
A. One month’s rent.
B. One month’s rent plus $500.
C. Two months’ rent.
D. Three months’ rent.
Correct answer is C. Two months’ rent.
Question 137: What is the maximum amount of a security deposit that a landlord may collect upfront from a new tenant for a furnished unit?
A. One month’s rent plus $1,000.
B. Two months’ rent.
C. Two months’ rent plus $1,000.
D. Three months’ rent.
Correct answer is D. Three months’ rent.
Question 138: The tenant transfers 100% of their rights and interests in the property to a new third party with ______..
A. A sublease.
B. An assignment.
C. An amendment.
D. A novation.
Correct answer is B. An assignment.
Question 139: A sandwich lease interest is part of _____..
A. An original lease.
B. A modification.
C. A sublease.
D. A conversion.
Correct answer is C. A sublease.
Question 140: Which action usually happens first during the eviction process?
A. Landlord’s warning letter.
B. Three-day notice to pay or quit.
C. Unlawful detainer.
D. Writ of possession.
Correct answer is A. Landlord’s warning letter.
Question 141: An anchor tenant is most likely to be found in a(n) _____..
A. Apartment building.
B. Retail shopping center.
C. Land site.
D. Fourplex.
Correct answer is B. Retail shopping center.
Question 142: Which building category will usually have the highest rents?
A. Class A.
B. Class B.
C. Class C.
D. Triple Net.
Correct answer is A. Class A.

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