Arkansas Real Estate License Leases and Property Management

Question 1

A leasehold estate that runs for a definite, fixed period of time is called a:

Accepted Answer

Estate for years

Answer

Periodic tenancy

Answer

Tenancy at will

Answer

Tenancy at sufferance

Question 2

A month-to-month rental agreement is an example of which type of tenancy?

Accepted Answer

Periodic tenancy

Answer

Estate for years

Answer

Tenancy at will

Answer

Tenancy at sufferance

Question 3

In Arkansas, what is the minimum notice required to terminate a month-to-month tenancy?

Accepted Answer

30 days written notice

Answer

7 days written notice

Answer

60 days written notice

Answer

10 days written notice

Question 4

A tenant who remains in possession of a property after the lease expires without the landlord's consent is known as:

Accepted Answer

A holdover tenant or tenant at sufferance

Answer

A tenant at will

Answer

A periodic tenant

Answer

A trespasser with occupancy rights

Question 5

Which of the following best describes a gross lease?

Accepted Answer

The tenant pays a flat rent and the landlord pays all operating expenses

Answer

The tenant pays base rent plus a share of operating expenses

Answer

The tenant pays rent plus a percentage of business revenue

Answer

The tenant pays all property taxes and insurance

Question 6

A net lease in commercial real estate requires the tenant to pay:

Accepted Answer

Base rent plus some or all of the property's operating expenses

Answer

Only a fixed monthly amount with no additional costs

Answer

A percentage of their gross sales in addition to rent

Answer

Rent based solely on the property's appraised value