Ch12 Quiz: Real Estate 84 Sec ON1 (20349) Fall 2023

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Chabot College *

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84

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Chemistry

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Jan 9, 2024

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10

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Ch12 Quiz Due Dec 3 at 11:59pm Points 20 Questions 20 Time Limit None Allowed Attempts 2 Attempt History Attempt Time Score LATEST Attempt 1 9 minutes 20 out of 20 Score for this attempt: 20 out of 20 Submitted Dec 1 at 10:54pm This attempt took 9 minutes. Take the Quiz Again 1 / 1 pts Question 1 A technical oversupply of property results when: there are more units than potential tenants Correct! Correct! potential tenants are unable to afford current rents there are more potential tenants than units None of the above 1 / 1 pts Question 2
A property manager would likely be concerned with all of the following except: trends in family size and lifestyles labor force market rental rates local commission rates on real estate sales Correct! Correct! 1 / 1 pts Question 3 Which of the following statements best describes the relationship between a management proposal and a management plan? The management plan is put into effect by means of the management proposal The management proposal becomes the management plan when it is accepted by the property owner Correct! Correct! The management plan is always developed first, before the management proposal There is no relationship between the management plan and the management proposal
1 / 1 pts Question 4 Which of the following properties would normally have the highest turnover rate for tenants? An apartment building Correct! Correct! A shopping mall An office building An industrial park 1 / 1 pts Question 5 The types of businesses operated by tenants is usually of greatest concern to a manager of: retail property Correct! Correct! office property residential property industrial property 1 / 1 pts Question 6
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A description of the duties and powers of the property manager would most likely be found in: the management plan the management agreement Correct! Correct! the management proposal the management schedule 1 / 1 pts Question 7 A lease must be in writing if: the annual rent is greater than $10,000 the property will be occupied by the tenant as his or her primary residence the lease is for a fixed term Correct! Correct! the tenant is an individual and not a business 1 / 1 pts Question 8 A property manager's preliminary study normally covers four basic
areas of analysis: the region, the neighborhood, the property, and the market Correct! Correct! the economy, the site, the market ,and occupancy rates occupancy rates, absorption rates, interest rates, and property values the building, the site, the neighborhood, and the city 1 / 1 pts Question 9 A list of all the rental rates assigned to the various units in a property is called: a rent roll a rental schedule Correct! Correct! a rental list a rental budget 1 / 1 pts Question 10 Repairing a broken window in a building is an example of: preventive maintenance
corrective maintenance Correct! Correct! housekeeping elective maintenance 1 / 1 pts Question 11 A property's variable expenses include: property taxes and utilities utilities and maintenance expenses Correct! Correct! maintenance expenses and insurance premiums utilities and debt service 1 / 1 pts Question 12 The difference between the value of a property and the total amount of the liens against it is called: cash flow equity Correct! Correct! appreciation
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cash on cash 1 / 1 pts Question 13 The most common form of advertising for residential rental property is: direct mail display advertising classified advertising Correct! Correct! broadcast advertising 1 / 1 pts Question 14 When occupancy rates are rising, property managers tend to: lower rents raise rents Correct! Correct! evict tenants increase advertising for rental properties
1 / 1 pts Question 15 Security deposits can be used to protect a property owner from: a tenant who defaults on the payment of rent when due damage to the rental property caused by a tenant Both of the above Correct! Correct! None of the above 1 / 1 pts Question 16 The ability to take full advantage of an investment's appreciation without having to invest the full cost of the investment is a result of: leverage Correct! Correct! cash flow yield equity 1 / 1 pts Question 17 A property manager would prefer to renew an existing tenant's lease
rather than find a new tenant for all of the following reasons except: eliminating the need to market the property to find a new tenant saving the expense of preparing the space for a new tenant avoiding a period of vacancy between the time when the old tenant moves out and the new tenant moves in encouraging the existing tenant to pay overdue rent obligations Correct! Correct! 1 / 1 pts Question 18 The property manager's report to the property owner often takes the form of a: maintenance schedule property management agreement rental schedule statement of operations Correct! Correct! 1 / 1 pts Question 19 One purpose of a market analysis performed as part of a property manager's preliminary study is in order to:
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allow the property manager to become familiar with the property to be managed keep track of earnings and lifestyle trends among potential tenants determine the number of competing units available to potential tenants Correct! Correct! gain an understanding of regional economic conditions 1 / 1 pts Question 20 A clause in a lease stating that the lease will be automatically renewed at the end of its term unless one of the parties gives the other notice of intent to terminate the lease is called: a rollover clause a periodic renewal clause an automatic renewal clause Correct! Correct! an option clause Quiz Score: 20 out of 20