Exam 2026-2027 Actual Complete Real Exam Questions And Correct
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Gross Lease - ANSWER -a lease of property where the landlord
pays charges
regularly incurred in ownership,
such as taxes
Net Lease - ANSWER -in addition to rent, the tenant pays
expenses such as
taxes
Single Net Lease (N) - ANSWER -tenant pays rent and property
taxes
Double Net Lease (NN) - ANSWER -tenant pays rent,
property taxes, and
property
insurance
Triple Net Lease (NNN) - ANSWER -tenant pays rent, property
taxes, property
, insurance, and
maintenance
Feasibility Period - ANSWER -Also known as due diligence
period
UCC Search - ANSWER -filed with the county clerk by an
equipment leasing
company notifying the public that there is a prior lease/lein
on the equipment
and that it cannot be seized by a
landlord
Percentage Lease - ANSWER -a lease in which all or part of the
rental is based
on the gross receipts of the tenant's
business
LEED - ANSWER -a building certification program for
properties that are
"green"
Preventative Maintenance - ANSWER -servicing a property and
its equipment in
order to prevent mechanical failure and keep
property values high