Mississippi Practice Test → Property Management

Mississippi Property Management
Practice Questions & Answers (2026)

Property management questions on the Mississippi exam cover both the practical aspects of managing rental properties and the landlord-tenant law specific to Mississippi. The Mississippi Real Estate Commission (MREC) tests security deposit limits, required notice periods for entry and termination, habitability standards, and the property manager's fiduciary duties. Mississippi'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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Mississippi Property Management — Practice Questions & Answers

92 questions on Property Management from the Mississippi real estate question bank. First 10 are free — sign up to unlock all 92.

Q1. A Mississippi property manager's primary duty is to:

A.Maximize rents regardless of market conditions
B.Act in the best interests of the property owner while managing the property effectively
C.Represent the tenants' interests over the owner's
D.Minimize maintenance expenses at all costs

Explanation

A property manager is the agent of the property owner and owes fiduciary duties to the owner, including managing the property effectively to protect and maximize the owner's investment.

Q2. Under Mississippi law, security deposits collected by a property manager must be:

A.Deposited in the property manager's personal account
B.Held in a separate trust account and not commingled with operating funds
C.Turned over to the MREC for safekeeping
D.Returned to the tenant immediately after lease signing

Explanation

Security deposits must be held in a separate trust or escrow account and may not be commingled with the property manager's or owner's operating funds.

Q3. A gross lease requires the tenant to pay:

A.Base rent plus all property expenses such as taxes, insurance, and maintenance
B.Only a flat rent amount while the landlord pays operating expenses
C.Rent based on a percentage of the tenant's gross sales
D.No rent during the first year of occupancy

Explanation

Under a gross lease, the tenant pays a flat rent and the landlord is responsible for operating expenses such as property taxes, insurance, and maintenance.

Q4. A net lease (NNN) requires the commercial tenant to pay:

A.Only base rent
B.Base rent plus some or all operating expenses such as taxes, insurance, and maintenance
C.A percentage of gross revenues as rent
D.All costs including mortgage payments

Explanation

A triple net (NNN) lease requires the tenant to pay base rent plus property taxes, insurance, and maintenance costs, passing most operating expenses to the tenant.

Q5. A Mississippi property manager who collects rents must provide the property owner with:

A.A verbal report at year-end only
B.Regular written accounting statements detailing income and expenses
C.A report only when requested by the owner
D.An annual tax return prepared by the manager

Explanation

A property manager owes the owner a duty of accounting, requiring regular written reports of all income collected and expenses paid on behalf of the owner.

Q6. Under the Fair Housing Act, a Mississippi landlord may NOT refuse to rent to a prospective tenant because of their:

A.Poor credit history
B.Prior eviction record
C.Race or national origin
D.Inability to pay first and last month's rent

Explanation

Race and national origin are federally protected classes. A landlord may use legitimate, non-discriminatory factors such as credit history, prior evictions, or ability to pay in tenant screening.

Q7. A management agreement between a Mississippi property owner and a property manager should include:

A.Only the rental rate and term
B.The scope of authority, management fees, reporting requirements, and duration of the agreement
C.Only the management fee structure
D.MREC-mandated form language only

Explanation

A comprehensive management agreement should specify the manager's authority, management fees, reporting obligations, maintenance responsibilities, and the duration of the management relationship.

Q8. Under Mississippi law, if a landlord fails to make required repairs after proper written notice from the tenant, the tenant may:

A.Stop paying rent immediately without consequences
B.Have a court remedy the situation or seek damages under the implied warranty of habitability
C.Make the repairs and deduct unlimited amounts from rent
D.Abandon the property without notice

Explanation

Mississippi recognizes the implied warranty of habitability. Tenants who provide proper notice of uninhabitable conditions that go unrepaired may pursue legal remedies including court orders and damages.

Q9. A Mississippi property manager is best described as:

A.An agent of the property owner who manages the property on the owner's behalf
B.An independent contractor with no fiduciary duties
C.A co-owner of the managed property
D.A representative of the tenants

Explanation

A property manager acts as an agent of the property owner (principal), with fiduciary duties to the owner. They manage the property according to the management agreement and applicable law.

Q10. Under Mississippi law, a property manager must hold a real estate license if they:

A.Own the property they manage
B.Manage properties for others for compensation
C.Only collect rent and do not negotiate leases
D.Manage fewer than five units

Explanation

Managing real estate for others for compensation—including negotiating leases, collecting rent, and maintaining property on behalf of owners—constitutes real estate activity that requires an MREC license in Mississippi.

Q11. A gross lease requires the tenant to pay:

A.Base rent plus a proportionate share of operating expenses
B.A flat rent amount, with the landlord paying most operating expenses
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Other Mississippi Exam Topics

Mississippi License LawAgencyContractsFinanceProperty OwnershipProperty ValuationFair HousingEscrow & TitleReal Estate MathEnvironmentalLand Use & Zoning
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