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Property Management Mock Exam 4 Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024 $15.99   Add to cart
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Property Management Mock Exam 4 Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024
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Property Management Mock Exam 4 Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024

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  • November 19, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • property management mock exam 4 questions and answ
  • what invention primarily contributed to the dema
  • which organization awards the designation certifi

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  • Certified Professional Property Specialist
  • Certified Professional Property Specialist

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Property Management Mock Exam 4
Questions And Answers With Verified
Solutions 100% Correct Latest Updated
2024
1. What invention primarily contributed to the demand for professional
property management at the end of the 19th century?
Answer: The invention of the high-speed elevator, along with steel-frame
buildings and the development of suburban areas.

2. Which organization awards the designation "Certified Property Manager"
(CPM)?
Answer: The Institute of Real Estate Management (IREM).

3. Which of the following best defines real property?
Answer: Land, including its subsurface and airspace above, as well as all
improvements (such as buildings, streets, and utilities).

4. What are the two principal categories of commercial real estate?
Answer: Office property and retail property.

5. What major factor contributed to the decline of centralized commercial
districts?
Answer: The development of suburban areas, aided by improvements in
transportation.

6. What personal characteristics should a property manager have, in addition
to knowledge and experience?
Answer: Honesty and integrity.

7. What is the consequence if people cannot afford to buy housing in areas
with rising prices?
Answer: There will be a greater demand for rental properties.

8. In a market analysis, what is the specific goal of a property manager?
Answer: To identify major economic trends and their effect on the value of the
specific property at the manager’s market level.

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