Question 1   Multiple Choice (1.0000 points)
  Question: A property manager who is authorized to obligate his/her principal in a contractual manner is a
special agent.
general agent.

Question 2   Multiple Choice (1.0000 points)
  Question: How are management fees determined?
    Agreement of participating property managers
Average of local rates charged
Set by state law
Negotiated between the parties

Question 3   Multiple Choice (1.0000 points)
  Question: If a property manager were negotiating with a property owner to manage a large property, the term of the management contract should be at least
    six months.
three years.
one year.
five years.

Question 4   Multiple Choice (1.0000 points)
  Question: Mixing owners funds with personal funds is an illegal activity called

Question 5   Multiple Choice (1.0000 points)
  Question: Security deposit balances and accounting are essential parts of a property takeover. How should the new property manager handle security deposits?
    Follow the owner's instructions
Handle the deposits in the same manner as the previous manager
Adhere to state laws
Create a new system