MIRES Michigan Real Estate Salesperson Exam - Set 1 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: A woman in Ann Arbor leases and manages twelve rental houses for other owners under written agreements, and she is paid a percentage of the rent she collects each month. Which of the following describes her licensing position in Michigan?

A separate manager registration applies

Rentals require no license

She needs a real estate license

Written owner contracts suffice

Question 42: A broker in Kalamazoo agrees to manage an apartment building for an out-of-state investor and sits down to draft the agreement between them. Which of the following identifies what Michigan requires that property management employment contract to address?

A definite expiration date

Duties and the handling of money

The commission on any future sale

The tenant screening criteria

Question 43: A Michigan broker who manages several buildings in Warren deposits the rents she collects into the same account she uses for her sales commissions, reasoning that all of it is brokerage income anyway. Which of the following describes that practice?

Allowed with ledgers by property

Allowed, since she earned it

Allowed under two thousand dollars

Prohibited, since management accounts stay separate

Question 44: An investor asks the Michigan broker managing her rental portfolio whether the account holding her building's operating funds may earn interest, and who would be entitled to keep it at year end. Which of the following states the Michigan rule?

Interest belongs to the broker

Interest is allowed as the contract directs

It must never bear interest

Interest must go to tenants

Question 45: A Michigan broker in Novi wants her bookkeeper, who holds no real estate license, to sign checks drawn on the property management account for routine plumbing and landscaping invoices. Which of the following describes whether Michigan allows that?

Allowed with owner countersignature

Barred, since only brokers sign

Allowed, as a designated employee

Barred, since she is unlicensed

Question 46: A landlord in Ferndale rents a house for one thousand two hundred dollars a month and wants to collect the largest security deposit that Michigan law permits him to take from the tenant. Which of the following states that statutory maximum?

One and one-half months of rent

Whatever the lease states

One month of rent

Two full months of rent

Question 47: A tenant takes possession of an apartment in East Lansing on the first of September and pays a deposit at signing. Which of the following describes the landlord's written notice duty and the tenant's forwarding address duty under the security deposit act?

Seven days and fourteen days

Fourteen days and four days

At signing and at walkthrough

Thirty days and seven days

Question 48: A tenant moves out of a rental in Jackson owing nothing in rent, and the landlord intends to keep part of the deposit to repair a damaged interior door. Which of the following describes the deadlines that follow the end of that occupancy?

Thirty days to mail, seven to answer

No list where damage is obvious

Forty-five days to mail, fourteen to answer

Seven days to mail, thirty to answer

Question 49: A landlord in Dearborn Heights keeps a departing tenant's entire deposit for claimed carpet damage, never mails an itemized list of damages, and files nothing in court afterward. Which of the following describes his exposure under Michigan law?

A fine payable to the state

Return of the deposit with interest

Nothing, given the carpet damage

Waiver of damages plus double the deposit

Question 50: A tenant in a Flint apartment building is two weeks behind on rent, and a second tenant there is alleged to have sold a controlled substance in his unit under a lease clause allowing termination. Which of the following pairs the correct demand periods?

Seven days and twenty-four hours

Seven days for both grounds

Fourteen days and forty-eight hours

Thirty days and seven days

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