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Question 1   Multiple Choice (1.0000 points)
  Question: The principal-agent relationship in property management is created by a(n)
 
    management agreement.
listing agreement.
employment contract.
equitable title.
 

 
Question 2   Multiple Choice (1.0000 points)
  Question: The relationship that a property manager who is an agent has with the owner who is a principal is
 
    confidential.
ethical.
fiduciary.
power of attorney.
 

 
Question 3   Multiple Choice (1.0000 points)
  Question: To insure a smooth takeover of a property, which of the following should NOT be done?
 
    Owner should provide all necessary documents
Manager should use a takeover checklist
Manager should personally inspect the entire property
Offer the tenants an opportunity to terminate their leases
 

 
Question 4   Multiple Choice (1.0000 points)
  Question: To maintain an on-going satisfactory relationship with the owner, the manager should
 
    send the owner reports only upon written request from the owner.
send monthly earnings report and a personal letter.
contact the owner only in an emergency.
send quarterly written reports and monthly phone calls.
 

 
Question 5   Multiple Choice (1.0000 points)
  Question: Which type of fee is a wonderful incentive when the owner wants the manager to generate more income?
 
    Per-unit fee
Flat fee
Percentage fee
Cost plus fee