TEXAS REAL ESTATE PROPERTY MANAGEMENT FINAL EXAM ACTUAL EXAM 300 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A

TEXAS REAL ESTATE PROPERTY MANAGEMENT

FINAL EXAM 2023-2024 ACTUAL EXAM 300

QUESTIONS AND CORRECT DETAILED ANSWERS

WITH RATIONALES (VERIFIED ANSWERS)

|ALREADY GRADED A

Under the management agreement, how many days prior to the end of the term

must notice of termination be given?

30

60

90

0 - ANSWER- 30

What is the biggest expense in managing a resort?

maintenance

housekeeping

security

replacing household items - ANSWER- housekeeping

Which of the following additional responsibilities would the property manager of a

ranch have?

soil management

water management

labor management

all of the above - ANSWER- all of the above

Chapter 82 of the Texas Property Code applies to which of the following?

residential condominiums

office condominiums

commercial condominiums

all of the above - ANSWER- all of the above

A "bump" clause is synonymous with which other clause?

percentage rent

holdover

option to purchase

escalator - ANSWER- escalator

What typically happens to the improvements at the end of a ground lease?

The landlord removes them

The tenant must remove them

The landlord will own them

The tenant keeps them - ANSWER- The landlord will own them

What is a non-disturbance clause?

It is a clause in a lease that says a tenant cannot be evicted due to a foreclosure

against the property

It is a lease that says the tenant must not be disruptive to other tenants

It is a clause that says a landlord cannot evict a tenant Correct: False

It is a clause that establishes quiet hours - ANSWER- It is a clause in a lease that

says a tenant cannot be evicted due to a foreclosure against the property

In a gross sales calculation from a percentage lease, which of the following would

not be included in the calculation?

Sales from a tenant's satellite office

Sales from a kiosk within the tenant's leased premises

Sales made by phone to the tenant's store

Sales occurring as a result of a phone call to the tenant's store - ANSWER- Sales

from a tenant's satellite office

What is NOT included into Landlord Remedies?

Terminate the Lease

Demand payment of all past and future rent through the end of the Lease Term

Obtain a security interest in Tenant's possessions

Abandon the Premises - ANSWER- Abandon the Premises

When a tenant defaults on a lease, the landlord can do all of the following except:

Terminate the lease

Evict the tenant immediately

Demand payment of all past and future rent through the end of the lease term

Seek to collect any unamortized costs of improvements made by the Landlord -

ANSWER- Evict the tenant immediately

The listing agreement and the representation agreement expressly state what?

That a broker does have the authority to bind the owner to an agreement.

That a broker does not have the authority to bind the owner to an agreement.

That the broker cannot sign any documents whatsoever.

That the landlord or tenant cannot sign any documents whatsoever. - ANSWERThat a broker does not have the authority to bind the owner to an agreement.

Which of the following is a true statement?

The move-out date is established by the tenant

The tenant may apply the security deposit to the last month's rent

All occupants must surrender the apartment before the 30-days period for deposit

refund begins

The tenant may make a partial payment of rent if he moves out prior to the moveout date - ANSWER- All occupants must surrender the apartment before the 30-

days period for deposit refund begins

In order to be an indication of abandonment, the tenant must have been in default

on the payment of rent for at least___ days.

2