As stated by others, checkouts are whatever the person responsible for renting the aircraft says they are.
Shortly after moving to Chicago a family emergency required a short-notice rental to fly back to ND. I started calling around mid-afternoon and found a C-182 available at Midway (KMDW). By 6 pm I was at MDW loading the plane with our stuff. My checkout was flying with the FBO owner from KMDW to KJVL (en route to ND) so the owner could pick up a plane he needed to get back to MDW. One takeoff, a 35 min. flight and one landing. He jumped out and my wife and I continued on to ND. I'm not sure what his contingency plan was if I wasn't qualified, but at that point in time I probably had close to 1,000 hours TT and several hundred in 182s, so he probably bet accordingly.