Arkansas Real Estate License Leases and Property Management 1

Question 1

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

Accepted Answer

Estate for years

Answer

An estate for years is a leasehold with a fixed start and end date, regardless of whether the term is days or decades.

Question 2

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

Accepted Answer

Periodic tenancy

Answer

A periodic tenancy automatically renews for successive periods until either party gives proper notice to terminate.

Question 3

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

Accepted Answer

30 days written notice

Answer

Arkansas law requires at least 30 days written notice to terminate a month-to-month tenancy.

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 sufferance holds over after lease expiration without permission, creating a situation the landlord can treat as trespass or a new tenancy.

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

In a gross lease, the tenant pays one fixed rent amount and the landlord is responsible for all operating expenses such as taxes, insurance, and maintenance.

Arkansas Real Estate License Practice Test

Arkansas Real Estate License Practice Test

Arkansas Real Estate License Leases and Property Management 1