Donaldson Real Estate exam Questions & Answers(GRADED A+)
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Donaldson Real Estate
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Donaldson Real Estate
You have entered into a lease that requires you to pay 20 percent of the owner's expenses. Your lease would be an example of a:
Select one:
A.Net lease.
B.Gross lease.
C.Percentage lease.
D.Variable lease. - ANSWERINCORRECT = C
Perhaps correct answer is A.Net lease.
A.Net lease. = used in ...
you have entered into a lease that requires you to
anet lease used in commercial leases tenant p
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Donaldson Real Estate exam Questions &
Answers(GRADED A+)
You have entered into a lease that requires you to pay 20 percent of the owner's expenses. Your
lease would be an example of a:
Select one:
A.Net lease.
B.Gross lease.
C.Percentage lease.
D.Variable lease. - ANSWERINCORRECT = C
Perhaps correct answer is A.Net lease.
A.Net lease. = used in commercial leases; tenant pays fixed amount of rent & pays some of the
landlords cost
B.Gross lease. = used in residential leases; aka fixed lease; tenant pays fixed amount of rent &
landlord assumes the rest
C.Percentage lease. = used in retail; tenant pays fixed rent & a portion of business income as rent as
well
D.Variable lease. - not in notes
A real estate development corporation purchased land for a condominium project. The corporation
most likely took title to the land
Select one:
A.
In severalty.
B.
as a syndication.
C.
,as a joint tenant.
D.
as a general partnership. - ANSWERB.
as a syndication.
NOT CORRECT = D.
as a general partnership.
You signed a lease for one year and took possession of an apartment. When the lease expired, you
continued to live in the apartment without the owner's consent. Your tenancy would be considered
to be a(n)
Select one:
A.Estate from year to year
B.Estate for years
C.Tenancy at will
D.Tenancy at sufferance - ANSWERD.Tenancy at sufferance
A.Estate from year to year = (periodic estate) ex. a one yr lease that would automatically renew for
another year if neither party didnt give notice to terminate.
B.Estate for years = A lease for a definite amount of time & terminates without notice from either
party
C.Tenancy at will = a lease that gives the tenant the right to possess with the consent of the landlord
& is terminated by giving notice or death of the landlord
D.Tenancy at sufferance = tenant holds possession without consent due to overstaying
Zoning laws, building codes, and environmental laws are examples of the governments use of:
Select one:
A.
eminent domain.
B.
escheat.
C.
, condemnation.
D.
police power. - ANSWERD.
police power.
A property is sold under a deed restriction (CC&R) that states the property may not be used as a
bakery. The property is later converted to a bakery. Under these conditions which of the following is
true?
Select one:
A.The seller may sue for damages.
B.The property will be the subject of an Eminent Domain Lawsuit.
C.A bakery is allowed within the zoning of the property therefore the adjoining owners have no
rights.
D.An adjoining property owner may enforce the restriction by a court injunction. - ANSWERD.An
adjoining property owner may enforce the restriction by a court injunction.
An appraiser uses the cost approach in appraising a home. The appraiser should NOT use which of
the following types of information?
Select one:
A.Economic obsolescence
B.Physical deterioration
C.Cost of replacement of house
D.Depreciation on the land - ANSWERD.Depreciation on the land
For consideration during the appraisal process, which of the following is the MOST likely to be used
as a part of the valuation or estimation process?
Select one:
A.Apparent age.
B.Actual age.
C.Effective age.
D.Economic age. - ANSWERC.Effective age.
A.Apparent age. - no such thing
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