PSI PSI Real Estate Agency and Property Management 3

Question 1

What is the key distinction between a tenant at will and a tenant at sufferance?

Accepted Answer

A tenant at will has the landlord's permission to stay; a tenant at sufferance does not

Answer

A tenant at will has a written lease; a tenant at sufferance does not

Answer

A tenant at sufferance pays rent; a tenant at will does not

Answer

A tenant at will holds a freehold estate; a tenant at sufferance does not

Question 2

Which lease clause protects the tenant's position by ensuring that a new property owner must honor the existing lease?

Accepted Answer

Non-disturbance clause

Answer

Subordination clause

Answer

Acceleration clause

Answer

Estoppel clause

Question 3

A landlord enters a tenant's apartment without notice to make a non-emergency repair. This could constitute:

Accepted Answer

Breach of the covenant of quiet enjoyment

Answer

Constructive eviction

Answer

Actual eviction

Answer

A violation of the habitability warranty

Question 4

Which agency relationship grants the agent authority to act on behalf of the principal in all matters?

Accepted Answer

Universal agency

Answer

Special agency

Answer

General agency

Answer

Ostensible agency

Question 5

When a property manager negotiates a lease renewal, which duty requires them to keep the tenant's financial limitations confidential from the landlord?

Accepted Answer

Confidentiality

Answer

Loyalty

Answer

Obedience

Answer

Accounting

Question 6

In a triple net (NNN) lease, the tenant is typically responsible for paying:

Accepted Answer

Base rent plus taxes, insurance, and maintenance

Answer

Only base rent with no additional charges

Answer

Base rent plus utilities only

Answer

All expenses except property taxes