1. A lot that measures 60 feet x 130 feet contains how many acres?
A. 0.179 acres Correct
B. 0.250 acres
C. 0.500 acres
D. 1.000 acre
Explanation
To determine the area of a lot measuring 60 feet by 130 feet in acres, we first calculate the area in square feet by multiplying the length and width: 60 ft в 130 ft = 7,800 square feet. Since one acre equals 43,560 square feet, we convert the area to acres by dividing: 7,800 В 43,560 ? 0.179 acres.
2. The terms of a mortgage call for a borrower to pay $4000 in loan discount points. If the mortgage is $80000, how many discount points have to be paid?
A. 3
B. 4
C. 5 Correct
D. 6
Explanation
Discount points are a percentage of the loan amount; $4000 / $80000 = 0.05 or 5%. Thus, 5 points are paid. The other options do not match the calculation. This is a standard mortgage financing concept.
3. Which of the following is among the typical responsibilities of a residential property manager?
A. requesting that a tenant's employer withhold past due rent from wages
B. making decisions about structural changes that will enhance the property value
C. selecting tenants to provide a diverse environment
D. negotiating leases between the property owner and potential tenants Correct
Explanation
A residential property manager typically negotiates leases between owners and tenants, a core duty. Wage garnishment, structural decisions, or diversity-based tenant selection are not standard responsibilities. This ensures proper management of rental agreements. It aligns with industry practices.
4. Which of the following most likely exceeds an apartment manager's responsibilities?
A. having the elevator in the building repaired
B. maintaining the building's exterior
C. adjusting rent based on a tenant's circumstances Correct
D. entering a tenant's apartment to repair plumbing
Explanation
Adjusting rent based on a tenant's circumstances is typically beyond an apartment manager's authority, as rent terms are set by the owner or lease. Repairing elevators, maintaining exteriors, and entering for repairs are standard duties. This maintains consistent rental policies. It reflects typical management boundaries.
5. Which of the following restrictions could NOT be included in the CC & Rs for a housing development?
A. Restriction on type of exterior building material
B. Restriction on type of animals kept on property
C. Restriction on square footage of a home
D. Restriction on family size Correct
Explanation
CC & Rs can regulate building materials, animals, or home size, but restricting family size violates fair housing laws, which prohibit discrimination based on familial status. Such a restriction is illegal. This protects residents' rights. It complies with federal regulations.