Unit 21 Quiz Attempt #3

Which of the following is not included in the management agreement

One of the main responsibilities of a Property manager is to

What kind of relationship does the property managers have with the property owner?

Which of the following is not a type of budget a manager should establish

Which of the following is not a type of maintenance required to keep a property in serviceable condition?

Which of the following is an essential element of a property management agreement?

Commercial fire and hazard insurance policies require coverage to at least 80 percent of the property

Mary falls of the stairs in her apartments due to slippery floors. Medical expenses may be paid under what policy?

Joe rents out a house to James. Unfortunately, the house burns down to the ground. What type of insurance covers Joe against the result of losing rent?

What type of maintenance is classified when a manager fixes a broken light?

This type of insurance is supposed to insure employees from most claims for job-related accidents?

A property manager who ______ must have a license.

Which type of property manager is most likely to work for real estate developers and investors?

Which person in the following scenarios holds a real estate license?

A certain item is to be prorated between a buyer and seller. If no outside party is concerned, which of the following statements is true?

Rent prorations are paid by who?

How many months will the lender add to that total to determine how much money the borrower is required to prepay into the account at closing? A lender in Georgia requires borrowers to prepay funds for property taxes into an escrow account. At closing, the lender estimates how many months have accrued since the last tax bill on the property was paid.

Which of the following would not appear as a debit on the seller’s closing statement?

In Georgia, which of the following is NOT involved with the process of ensuring the accuracy of any promissory notes involved in a closing

In Georgia, a closing involving rental property takes place on December 15. Tenants pay rent on the first day of each month. At the closing, the Seller will owe the buyer _____ days’ rent

____ is not entered on a profit and loss statement.

Which of the following that escrow disbursements are paying?

All of the following would appear on a seller’s closing statement EXCEPT

What is true of a client that gives an agent and extra $500 for working so hard on their transaction?

In Georgia, borrower’s are required to prepay funds into an escrow account. In calculating the how many months have accrued since the last property tax payment, how many months will the lender add to determine how much money the borrower is required to prepay into escrow?

Sales contracts in real estate requires the seller to…

A rental property in Georgia is closing on December 15. The tenants pay rent on the 1st of each month. What happens at the closing?

When the entire debt service is not reflected on a statement, it is known as

In Georgia, a borrower will sign a promissory note. What is a promissory note?

A closing in Georgia involving rental property takes place on December 15th. _______ pay rent on the first day of each month.