Leasing Quiz

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Question 1 of 17

1. Question
A lease contract is best described as
- A temporary transfer of legal title
- An instrument of conveyance of limited title
- A conveyance of a possessory interest
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Question 2 of 17

2. Question
The percentage use is most often used by
- Office landlords
- Retail landlords
- Industrial landlords
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Question 3 of 17

3. Question
A tenant signs a lease that includes a schedule of rent change at predetermined intervals according to changes in an economic index. What kind of lease has this tenant signed?
- Percentage
- Net
- Index
- Gross
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Question 4 of 17

4. Question
According to the Statute of Frauds,
- Leases exceeding one year must be recorded to be enforceable
- Oral leases are not enforceable
- A five year lease must be in writing to be enforceable
- An unwritten lease is fraudulent
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Question 5 of 17

5. Question
If a lease does not a specific ending date, when does it terminate?
- Immediately, since it is an invalid lease
- After one year
- When either party gives proper notice
- Whenever the property is sold
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Question 6 of 17

6. Question
An estate for years is
- One or more years
- 3 years
- 1 year
- All of the above, as long as it's a definite period
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Question 7 of 17

7. Question
What is the type of leasehold estate that does not have a specific lease term?
- Estate at will
- Estate for years
- Estate from period-to-period
- Estate at sufferance
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Question 8 of 17

8. Question
In gross lease,
- All expenses related to the property are part of the lease payment and are paid by the landlord.
- The tenant pays a fixed rent and all or some of the utility expenses.
- Both A & B
- None of the above.
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Question 9 of 17

9. Question
Who is a holdover tenant ?
- A tenant who pays rent on time.
- A tenant who stays in a property after the lease has expired without the landlord’s consent.
- A tenant who can stay in a property for an unspecified period of time as long as the landlord gives permission.
- A tenant who does not pay rent.
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Question 10 of 17

10. Question
When a tenant pays some or all of the expenses separately
- Net lease
- Index lease
- Percentage lease
- Gross lease
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Question 11 of 17

11. Question
All expenses related to a property such as taxes, insurance and maintenance in a gross lease are paid by?
- The tenant
- The Insurance
- The court
- A & C
- The Landlord
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Question 12 of 17

12. Question
What does natural break-even point mean
- Percentage lease comes with natural break-even point
- It means that the tenant will only pay a portion of sales to the landlord.
- It means that the landlord won't charge the tenant a percentage of sales until the tenant’s sales reach the break-even point.
- A & C
- B & C
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Question 13 of 17

13. Question
The other name for variable lease is
- Index lease
- Percentage lease
- Net lease
- Triple net lease
- Gross lease
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Question 14 of 17

14. Question
When a tenant pays some or all of the expenses separately
- Net lease
- Index lease
- Percentage lease
- Gross lease
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Question 15 of 17

15. Question
What is a net lease
- Net lease is when all expenses related to the property are paid by the landlord
- Net lease is when a tenant pays a base rent plus an additional charge that is a percentages of the tenant's gross sales
- A net lease is one in which the tenant pays some or all of these expenses separately
- None of the above
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Question 16 of 17

16. Question
When a tenant pays some or all of the expenses separately
- Index lease
- Net lease
- Gross lease
- Percentage lease
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Question 17 of 17

17. Question
A net lease is defined as
- Net lease is when a tenant pays a base rent plus an additional charge that is a percentages of the tenant's gross sales
- Net lease is when all expenses related to the property are paid by the landlord
- A & B
- A net lease is one in which the tenant pays some or all of these expenses separately
- None of the above
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