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Texas Real Estate Property Management Exam Practice Questions and Answers
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  • Texas Real estate
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  • Texas Real Estate

Texas Real Estate Property Management Exam Practice Questions and Answers Candidates for a CPM certification must meet the criteria established by: - Answer️️ - IREM An Advisory Services Specialist would be a member of _______ - Answer️️ -SIOR Which organization would you turn to in or...

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  • September 16, 2024
  • 9
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • texas real estate property management exam practic

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  • Texas Real estate
  • Texas Real estate

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SophiaBennett

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©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM



Texas Real Estate Property Management
Exam Practice Questions and Answers


Candidates for a CPM certification must meet the criteria established by: - Answer✔️✔️-

IREM


An Advisory Services Specialist would be a member of _______ - Answer✔️✔️-SIOR

Which organization would you turn to in order to obtain rental forms for Texas apartment

housing? - Answer✔️✔️-TAA

Which of the following factors is unimportant in determining the amount of rent a

landlord could charge? - Answer✔️✔️-Corporate entity

What should a landlord do if it becomes necessary to reduce rent to fill vacancies? -

Answer✔️✔️-Reduce the length of lease terms

When a property manager has funds in an account designed to pay for emergency

items, the account is known as a ________. - Answer✔️✔️-Reserve

Who maintains the physical integrity of the property and develops a plan for building

adequate reserves for replacement? - Answer✔️✔️-The property manager

If there is a person who works for both the property owner and the property manager,

what document defines whose employee the person is? - Answer✔️✔️-The management

agreement

What is the most important thing to do when implementing a marketing plan? -

Answer✔️✔️-stay with the plan long enough for it to work

Page | 1

, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM


Regulation Z is which of the following? - Answer✔️✔️-The Truth in Lending Act

When marketing residential properties, direct mail should be used _____________. -

Answer✔️✔️-to reach specific audiences

What could the rent increase be tied to? - Answer✔️✔️-The Consumer Price Index (CPI)

What is the component of the business plan that includes staffing, startup budget, and

sales forecasts? - Answer✔️✔️-The Financial Plans

What item will most likely be the most expensive equipment for the office? - Answer✔️✔️-

Telephones

What is the first thing you should do when starting a property management business? -

Answer✔️✔️-Put together a business plan

What is an escalation clause? - Answer✔️✔️-A lease clause that allows for set increases

in rent

What is your best source for information on retail market data? - Answer✔️✔️-ICSC

An employer must pay FUTA to workers if their wages are more than __________per

year - Answer✔️✔️-$1,500

What is the simplest form of business ownership? - Answer✔️✔️-Sole proprietorship

The management agreement can be modified by ____________. - Answer✔️✔️-written

agreement

If a tenant purchases a property from the owner, the broker's fee is usually

___________. - Answer✔️✔️-a percentage of the sales price




Page | 2

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