Nevada Property Management Practice Test

These questions are part of the practice quiz. Start practicing

• Under what condition can a client be informed about a suicide that occurred on the property?
• How long does a landlord have to make repairs after being notified of an issue?
• Which of the following would not be considered a direct cost?
• What does a rent roll typically list?
• What is the consequence for a tenant not claiming their abandoned property in Nevada?
• What does the term "hazard insurance" encompass?
• To qualify for the deductions under the Revenue Reconciliation Act of 1993, how much time must a person devote to property services during a tax year?
• What does a triple net lease typically require beyond a double net lease?
• Which of these is NOT a component considered in measuring building standards?
• What is the maximum duration for an estate for years to be valid?
• What does the term "building standard" refer to?
• In a landlord-tenant relationship, what is a tenant's obligation when making modifications?
• Can a landlord enter a tenant's unit without permission?
• What was the primary reason for the increased demand for professional property management around the end of the nineteenth century?
• What must happen if a broker has three accounts for managing real estate?
• Which status is protected under Nevada Fair Housing Laws but not under Federal Fair Housing laws?
• When should residential tenants be approached about renewing a lease?
• For a lease to be legally enforceable, what must occur?
• What does the term block busting refer to?
• What is the primary goal of property management in terms of tenant relations?
• Which of the following is NOT a requirement of the Fair Housing Act?
• Which of the following is NOT mandated for landlords in Nevada?
• When disbursements exceed receipts for a certain month, usually the manager can do what?
• What key aspect is NOT typically included in rental history investigations?
• In commercial leases, what are trade fixtures considered?
• How many days prior notice must a broker give if moving records?
• In property management, what is typically defined as the income generated from rental properties?
• What characterizes a garden apartment?
• What must a landlord provide to tenants according to health and safety standards?
• What penalty may be imposed if the unused portion of a security deposit is not returned within 30 days?
• What is the maximum time frame in which a tenant should be given notice for a rent increase?
• What term is used to describe a building with non-specialized interior space?
• What is the maximum security deposit a landlord can charge in Nevada?
• The requirement of writing for a rent increase notice is primarily to ensure what?
• Which organization awards the designation of Certified Property Manager (CPM)?
• What is the frequency with which a broker is expected to submit a trust account reconciliation?
• What is a notable difference in the management of subsidized housing compared to other housing types?
• What is meant by building standard?
• A newer area of property management focuses on what type of housing?
• What legal document establishes the terms of a rental agreement between a landlord and tenant?
• What is illegal for real estate licensees under the fair housing rule?
• How many bank accounts must brokers have when managing real estate at their office?
• How many smoke detectors are required in each dwelling unit in Nevada?
• Along with knowledge and experience, which personal characteristic is essential for a property manager?
• What is the term for properties that are often owned by individual investors or families?
• Which federal agency supervises programs providing insured mortgages and housing subsidies?
• Which of the following is a major part of a neighborhood analysis?
• What is an estate owned by the tenant that has a definite termination date called?
• Which of the following is a common responsibility of property managers?
• In what form must the rent increase notice be given to the tenant?
• Who can recommend an animal that ameliorates a physical or psychological condition for a tenant?
• What should a landlord do first if a tenant fails to pay rent under Nevada law?
• If a landlord is in breach of the lease, what must the tenant do?
• Within how many days must a broker notify tenants about security deposit disputes?
• If an associate is breaking the law, what is required regarding reporting the infraction?
• What term best describes the practice of selling properties due to anxiety over community demographics?
• How many days' notice must a broker provide to the real estate division before moving records?
• Property #1 has a capitalization rate of 12% and Property #2 has a capitalization rate of 14%. Which statement is TRUE?
• A tenant is required to pay additional amounts to the landlord when business volume increases. This tenant MOST likely has what type of lease?
• What is a key feature of a neighborhood shopping center?
• What is a key component of life cycle costing?
• For how long must financial records related to the trust account be kept?
• What year must a property manager disclose lead-based paint if the property was built before?
• Within how many days must a salesperson turn over executed paperwork to the broker?
• What does fidelity mean in the context of a property manager's relationship with their client?
• What is the required notice period for a landlord to enter a rental property in non-emergency situations in Nevada?
• Can you prevent a debt collector from contacting you?
• What happens if a tenant does not restore a property to its original condition after modifications?
• True or False: Fees may exceed three months of periodic rent?
• Which of the following best describes a tenancy at sufferance?
• Which element is NOT typically found in a rental schedule?
• What is the statute of limitations for recovering unpaid rent in Nevada?
• What type of insurance should a tenant typically hold in a residential lease?
• What does CAP RATE represent in property management?
• What differentiates a holdover tenant from a tenant at sufferance?
• What does the term "estate for years" refer to?
• Which of the following is NOT typically a responsibility of a property manager?
• How soon must a licensee pay over a deposit they receive in a transaction to the designated broker or company?
• What must be included with the application for a Property Management permit?
• What is the legal requirement for smoke detectors in rental properties in Nevada?
• When must the trust account reconciliation be submitted in relation to the broker's license expiration?
• Who is responsible for providing the paperwork to the broker?
• In Nevada, can a tenant legally withhold rent for repairs?
• What is required for the renewal of a broker's corporate and individual license in Nevada?
• How long does a tenant have to claim abandoned property after moving out?
• What type of estate do a couple have if they are allowed to remain in an apartment on a month-to-month basis after their lease expires?
• Under Nevada law, what is a holdover tenant?
• Which entity typically oversees building safety regulations?
• In property management, which concept signifies the obligation to act in the best interest of the client?
• What is the most effective method for property managers to attract prospective tenants to a shopping center?
• In property management, what is considered a key factor in maintaining tenant retention?
• True or False: A broker must obtain approval from the real estate division before moving real estate records?
• What type of natural disaster damage is typically not covered by the standard insurance policy?
• What is the impact of having a high-speed elevator in a building in terms of property management?
• For how long must a manager retain lead-based paint disclosure records?
• What is the correct response if a licensee receives a rental payment?
• What is a restriction placed on debt collectors?
• How often must continuing education be completed for license renewal?
• What type of property is characterized by mixed-use development, including retail, residential, and entertainment spaces?
• How is compensation for non-broker licensees determined?
• What is the purpose of a recapture provision in a lease agreement?
• What type of insurance is legally required for properties with underground storage tanks holding fuel oil?
• What must a broker provide when moving records related to property management?
• What is the maximum time frame for prosecuting Fair Housing (Race) violations?
• What are the consequences of violating regulations in Nevada's real estate sector?
• In property management, what does "cap rate" help determine?
• What type of relationship do colleges, large corporations, and private institutions prefer with their property managers?
• A salesman must provide paperwork to his broker within how many calendar days after it is fully executed?
• How is the rentable area of a floor calculated?
• What is the method called that converts future income to present value?
• How often can rent be increased on a month-to-month tenancy?
• How many management trust accounts must all brokers involved in real estate management have?
• How many smoke detectors are required per rental unit in Nevada?
• What distinguishes Class A office space from Class D?
• Can a tenant terminate a lease early due to domestic violence in Nevada?
• Which of the following best describes a unit that violates housing and health codes?
• Units constructed in compliance with the Americans with Disabilities Act must have which of the following?
• Are gender-related protections a part of Nevada Fair Housing Laws?
• What is an aging report in property management?
• What form must the broker’s trust account reconciliation be submitted on?
• What type of lease is commonly used in commercial real estate?
• How long does a tenant have to fix a lease violation before eviction in Nevada?
• What must an individual complete to obtain a Property Management permit?
• Why was the Superfund Law created?
• What is a key indicator for property valuation in property management practice?
• What reporting requirements exist for a broker holding both types of licenses in Nevada?
• What does life cycle costing measure in relation to equipment?
• What is one benefit of tenant screenings for property managers?
• What is a primary marketing tool used by property managers of industrial space?
• When a tenant makes modifications to their unit for accessibility, who generally bears the cost?
• What is a certificate of occupancy in commercial property management?
• A residential unit is considered uninhabitable if:
• Under the Fair Housing Act, what is typically required of property managers regarding tenants with disabilities?
• In what timeframe must a licensee pay over a deposit received in a transaction to their broker?
• Who is defined as a tenant under the rental agreement?
• What is typically a requirement for a landlord before retaining a security deposit?
• Within how many days must a landlord return a security deposit after a tenant moves out in Nevada?
• What is an example of direct costs in property management?
• What must a broker do when operating under multiple licenses?
• What is the purpose of an enterprise zone?
• How long does a notice to pay or quit last before further action is taken?
• What are the landlord's responsibilities regarding essential services?
• In a net lease, what additional expenses does the tenant typically have to cover in a triple net lease compared to a double net lease?
• Among building management and design issues, which ranks highest?
• Can a landlord charge a pet deposit in addition to a security deposit?
• A long-term lease requires $400 for the first two years, $500 during the third year, and $600 for the last two years. This lease contains what type of clause?
• What is the purpose of a security deposit?
• Which clause allows a landlord to reclaim space that a tenant cannot occupy?
• How is office space classified into categories such as A, B, C, or D?
• What legal notice must be issued for non-payment of rent in Nevada?
• What type of report do property managers often use to assess the maintenance needs of a property?
• How quickly must a landlord address a habitability issue after being notified by a tenant?
• What does Nevada law require from employees of vendors?
• Which hazard can generally be greatly reduced through proper ventilation?
• What action should a landlord take upon being notified of a serious habitability issue?
• What is the role of a care giver in relation to a tenant’s request for an emotional support animal?
• What is required of a broker conducting real estate management activities regarding the trust account?
• Depreciation in real estate is divided into three categories: economic, functional, and what other category?
• When qualifying a prospective residential tenant, what aspect is the lessor least interested in?
• How long does a landlord have to return a security deposit in Nevada?
• For how long must lead-based paint disclosure records be retained?
• After moving out, how long does a tenant have to claim abandoned property in Nevada?
• True or False: The property must be identified but not necessarily the address.
• What type of shopping center typically consists of large national chain stores and spans from 300,000 square feet to over 1 million square feet?
• What is the required advance notification period for increasing a tenant's rent with a periodic estate?
• Which charges are included in a NNN lease that are not included in a NN lease?
• Why is it important for a lease to be signed and accepted?
• How many copies of a signed lease must be provided by the lessor?
• Which law mandates landlords to accommodate requests from tenants with disabilities?
• What type of insurance provides coverage for physical damage to a property in Nevada?
• What is a tenant estoppel certificate?
• Which of the following is a common responsibility of a property manager?
• What is the average length of a real estate management contract?
• Which legal protection exists for tenants facing domestic violence?
• What type of property is considered personal property of the tenant in a lease?
• What are single-family homes that are managed professionally called?