# 3 Terms Quiz

Which type of lease requires the lessor to pay all costs associated with the property?

• Net Lease

• Gross Lease

• Percentage Lease

• Ground Lease

Which type of lease involves the use of land only?

• Building Lease

• Ground Lease

• Air Rights Lease

• Full-Service Lease

An agreement to exclude other members is known as what?

• Financial Penalty

• Group Boycott

• Inclusion Agreement

• Legal Requirement

A clause in a deed is known as what?

• Habendum Clause

• Lease Clause

• Mortgage Clause

• Rental Clause

Which construction term refers to local horizontal structural elements?

• Columns

• Rafters

• Headers

• Footings

Which real estate appraisal term refers to the use of a property that produces the greatest net return?

• Gross Income Multiplier

• Market Value

• Highest and Best Use

• Depreciation

What is the term for pledging a thing as security without giving up possession?

• Insure

• Sell

• Hypothecate

• Lease

Which type of agency exists due to the actions of the parties involved?

• Agency created by written contract

• Agency that is legally binding

• Agency created by verbal agreement

• Implied Agency

An agreement implied by actions is known as what?

• Express Contract

• Notarized Contract

• Implied Contract

• Written Contract

Which appraisal method is used for income-producing properties?

• Property Tax Calculation

• Appraisal for Non-Income Properties

• Income (Capitalization) Approach

• Insurance Value Determination