LEASING AGENT EXAM STUDY SHEET 2026
FULL QUESTIONS AND ANSWERS ALREADY
PASSED
● Chattels - Items of personal property, including such tangibles as
chairs, tables, money, clothes, bonds and bank accounts. Trade Fixtures
Also.
● Manufactured Housing - Dwellings that are built off site and trucked
to a building lot where they are installed or assembled. Considered
personal property unless it's permanently affixed to the land.
● Annexation - Changing personal property into real property.
● Fixture - Personal property that has been affixed to land or a building.
● Trade Fixture - Any article owned by a tenant and attached for
conducting business.
● Economic Characteristics - (1) Scarcity, (2) Improvements, (3)
Permanence of investment, (4) Location
, ● Contract - A voluntary agreement between two parties in which
specific promises are made for a legal consideration.
● Expressed Contract - Exists when the parties state the terms and show
their intentions in words, it can be written or oral.
● Statute of Frauds - Certain types of contracts, including those for the
sale of real property, that must be in writing to be enforceable in a court
of law.
● Implied Contract - The agreement of the parties is demonstrated by
their acts and conduct.
● Bilateral Contract - Both parties promise to do something; one
promise is given in exchange for another
● Unilateral Contract - One sided contract agreement. One party makes
a promise to induce a second party to do something. The second party is
not legally obligated to act.
● Exclusive Right to Sell Listing - This agreement is considered a
Bilateral Contract.
● Open Listing - This agreement is an Unilateral Contract.
FULL QUESTIONS AND ANSWERS ALREADY
PASSED
● Chattels - Items of personal property, including such tangibles as
chairs, tables, money, clothes, bonds and bank accounts. Trade Fixtures
Also.
● Manufactured Housing - Dwellings that are built off site and trucked
to a building lot where they are installed or assembled. Considered
personal property unless it's permanently affixed to the land.
● Annexation - Changing personal property into real property.
● Fixture - Personal property that has been affixed to land or a building.
● Trade Fixture - Any article owned by a tenant and attached for
conducting business.
● Economic Characteristics - (1) Scarcity, (2) Improvements, (3)
Permanence of investment, (4) Location
, ● Contract - A voluntary agreement between two parties in which
specific promises are made for a legal consideration.
● Expressed Contract - Exists when the parties state the terms and show
their intentions in words, it can be written or oral.
● Statute of Frauds - Certain types of contracts, including those for the
sale of real property, that must be in writing to be enforceable in a court
of law.
● Implied Contract - The agreement of the parties is demonstrated by
their acts and conduct.
● Bilateral Contract - Both parties promise to do something; one
promise is given in exchange for another
● Unilateral Contract - One sided contract agreement. One party makes
a promise to induce a second party to do something. The second party is
not legally obligated to act.
● Exclusive Right to Sell Listing - This agreement is considered a
Bilateral Contract.
● Open Listing - This agreement is an Unilateral Contract.
