Indiana Property Management
Practice Questions & Answers (2026)
Property management questions on the Indiana exam cover both the practical aspects of managing rental properties and the landlord-tenant law specific to Indiana. The Indiana Professional Licensing Agency tests security deposit limits, required notice periods for entry and termination, habitability standards, and the property manager's fiduciary duties. Indiana's landlord-tenant law has specific provisions — including notice requirements and tenant protections — that differ from what national study materials cover. These questions often involve scenarios where a property manager must navigate competing obligations to the owner-client and the tenant.
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Indiana Property Management — Practice Questions & Answers
94 questions on Property Management from the Indiana real estate question bank. First 10 are free — sign up to unlock all 94.
Q1. A property manager's primary duty is to:
Explanation
A property manager acts as an agent of the property owner and has a fiduciary duty to manage the property in accordance with the owner's investment goals.
Q2. A management agreement is essential because it:
Explanation
The management agreement is the contract between property owner and manager that establishes the manager's authority, responsibilities, reporting requirements, and compensation.
Q3. Security deposits collected from tenants in Indiana must be:
Explanation
Indiana law requires security deposits to be held in a separate escrow or trust account, not commingled with operating funds, to protect tenant rights.
Q4. Under Indiana law, a landlord must return a security deposit within how many days after a tenant vacates?
Explanation
Indiana law requires landlords to return the security deposit, or provide an itemized written statement of deductions, within 45 days after the tenant vacates.
Q5. Gross lease means:
Explanation
In a gross lease, the landlord pays operating expenses such as taxes, insurance, and maintenance, and the tenant pays a fixed rent amount.
Q6. A triple net (NNN) lease requires the tenant to pay:
Explanation
A triple net lease requires the tenant to pay base rent plus property taxes, building insurance, and maintenance costs — the three 'nets.'
Q7. An eviction proceeding in Indiana begins with the landlord serving the tenant a:
Explanation
In Indiana, an eviction (unlawful detainer) typically begins with the landlord serving the tenant a written notice to pay rent or quit, giving the tenant an opportunity to cure before court proceedings begin.
Q8. A property manager who hires a contractor for repairs that cost more than the management agreement's authorized limit without owner approval is:
Explanation
A property manager has only the authority granted in the management agreement; exceeding spending limits without owner approval may constitute a breach of fiduciary duty.
Q9. A percentage lease is commonly used in:
Explanation
Percentage leases are common in retail properties; the tenant pays a base rent plus a percentage of their gross sales, aligning the landlord's and tenant's interests.
Q10. The Indiana Residential Landlord-Tenant Act primarily governs:
Explanation
The Indiana Residential Landlord-Tenant Act (IC 32-31) establishes the rights and responsibilities of both landlords and tenants in residential rental relationships.
Q11. A property manager's operating budget should include all of the following EXCEPT:
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