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Unit 20 Property Management Exam Questions and answers with verified solutions 100% correct!!!
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Unit 20 Property Management Exam Questions and answers with verified solutions 100% correct!!!

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  • November 20, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • unit 20 property management exam questions and ans
  • when determining where risks lie in a building su
  • the property manager acts as a general agent to
  • a property managers minimizing or eliminating the
  • t

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  • Certified Professional Property Specialist
  • Certified Professional Property Specialist

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Unit 20 Property Management Exam
Questions and answers with verified
solutions 100% correct!!!
When determining where risks lie in a building (such as pools, fire hazards,
security issues, etc.), professional property managers should consult with -
ANSWER✔✔ insurance professionals.

The property manager acts as a general agent to - ANSWER✔✔ the property
owner.

A property manager's minimizing or eliminating the potentially enormous losses
that can result from fire, water, accidents, or other causes is - ANSWER✔✔ risk
management.

The occupancy rate for the Mountain View Apartments has reached 98%. From the
point of view of the property manager, what might this indicate? - ANSWER✔✔
Rents should be raised.

Joe is a new property manager for Capital City Apartments. He is in the process of
establishing rental rates for the units. What is Joe's basic concern in setting the
rates? - ANSWER✔✔ That income from the rent covers expenses and provides a
fair return on the investment

How should expenses such as repairs be addressed in a property manager's
operating budget? - ANSWER✔✔ Allocation of a cash reserve fund

Do apartment managers need real estate licenses? - ANSWER✔✔ Property owners
and their onsite employees do not require licenses to lease units.

Which of the following should NOT be a consideration in selecting a tenant? -
ANSWER✔✔ The racial and ethnic background of the tenant

Hilda manages an apartment complex in downtown Houston. The apartments are
always completely full, with a waiting list to get in. Which of the following could
be the cause of the high occupancy rate? - ANSWER✔✔ All of these could be the
cause.

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