Exam (elaborations)
BOMI - Asset Management: Questions With A+ Solutions
- Course
- Institution
BOMI - Asset Management: Questions With A+ Solutions
[Show more]
Content preview
BOMI - Asset Management: Questions With A+Solutions
To garner more from the sale of the property, the asset manager is
recommending to the owner that that he improve the property's urban
appeal. The owner can accomplish this by doing all of the following except.
A. Upgrade the landscape areas
B. Ensure the lighting works
C. Repaint the building
D. Improve signage Right Ans - B. Ensure the lighting works
Triana prefers the accrual basis accounting approach because it has many
advantages over other approaches. These advantages include all of the
following except:
A. Is the simplest of the various accounting approaches
B. Allows consistent performance figures between accounting periods
C. Prevents large swings in net proceeds
D. Avoid anomalies found with cash basis accounting Right Ans - A. Is the
simplest of the various accounting approaches
Greg is developing an asset management plan. The primary purpose of such a
plan is to:
A. Implement the owners objectives in the property management
B. Realize an immediate positive return on investment
C. Comply with all government regulations
D. Maintain the organizations market position and revenue stream Right
Ans - A. Implement the owners objectives in property management
Mark manages a property with $850,603 in gross potential income, $45,018 in
operating expenses and a $72,000 vacancy loss. What is the NOI?
A. $733,585
B. $778,603
C. $805,585
D. $877,585 Right Ans - A. $733,585
Elwood is considering a particular building for investment purposes. Since the
building is 15 years old, it can be considered:
,A. Class A building only
B. Class B building only
C. Either a class A or class B building
D. Neither a class A or class B building Right Ans - C. either a class A or
class B building
Overall, it is best if Barbara, an asset manager, receives her comprehensive
reporting package:
A. Weekly
B. Monthly
C. Quarterly
D. Annually Right Ans - B. Monthly
Because of severe financial setbacks, Cesar has had his company's property
foreclosed upon, The very first step in this foreclosure procedure is:
A. The deed being cleared of all junior liens
B. The lender assigning rents to itself
C. A notice of default being sent to the recorders office
D. A notice of default being given to the borrower Right Ans - D. A notice of
default being given to the borrower
Jurgen will be selling his property as-is, This means that he makes no
warranties or representation about the ____________ of the property.
A. Condition
B. Habitability
C. Potential use
D. All of the above Right Ans - D. All of the above
If Harvey is to establish the date, location, and subject of an audit, he would
need to:
A. Send a pre-audit letter
B. Conduct a pre-audit interview
C. Conduct an exit interview
D. Send an audit response letter Right Ans - A. Send a pre-audit letter
Donald is examining the factors that affect, either positive or negative, the
value of the property created by leasing. These factors include all of the
following except?
A. Co-tenancy clauses
,B. Go-green clauses
C. Ownership objectives
D. Creditworthiness of tenants Right Ans - B. Go-green clauses
Janelle is a tenant representative. As such, she owes a fiduciary responsibility
to:
A. The owner only
B. The tenant only
C. Both the owner and the tenant
D. Neither the owner nor the tenant Right Ans - B. The tenant only
Jeanine wants a loan characterized by having an interest rate at a set level.
This is a _________ loan.
A. Fixed-rate
B. Variable-rate
C. Tax-exempt
D. Wraparound Right Ans - A. Fixed-rate
Magda has a 12,000 sq ft property with a current value of $2,400,000 and a
net operating income of $180,000. What is its yield?
A. 0.06
B. 0.065
C. 0.07
D. 0.075 Right Ans - D. O.075
Albert is at the last step in the ownership cycle of investment real estate,
which is:
A. Managing the acquisition
B. overseeing property disposition
C. Enhancing the value of the property
D. Developing the asset plan Right Ans - B. Overseeing property disposition
Glenna wants to buy the property at the lowest possible price. She knows
there are many factors, besides location, that affect price. Which of the
following is not one of those quantifiable factors?
A. Taxes
B. Reputation
C. Interior condition
D. Operational costs and expenses Right Ans - B. Reputation
, Don, an asset manager, is selecting a property manager to mange his
investment real estate. He must consider several factors when making his
decision. Which of the following would likely not be one of the factors he
should consider?
A. Holding period
B. Condition of the property
C. Redevelopment
D. Politics Right Ans - D. Politics
A new auditor is slowly but methodically gathering the fate needed to conduct
an audit. This process is known as:
A. Aggregating
B. Batching
C. Sampling
D. Surveying Right Ans - C. Sampling
As an asset manager, Sharon needs to address a few factors when attempting
to move towards a successful resolution for an REO property her organization
has recently acquired. These factors would likely include all of the following
except:
A. Being aware of the external financial climate
B. Knowing the strengths and weaknesses of the property
C. understanding the property's market dynamics
D. Determining the buildings tenant dynamics Right Ans - D. Determining
the buildings tenant dynamics
Kathryn is reviewing public notices that the property her organization may
finance is subject to a lawsuit. Such notices are known as:
A. Acta publica
B. Ad meliora
C. Lis pendens
D. Res primus Right Ans - C. Lis pendens
Which of the following items would an asset manager likely not have on his
property management transition checklist?
A. Environmental issues
B. Common area maintenance reconciliations
C. Budget
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LeCrae. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $21.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76449 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now