Accredited Residential Manager - ARM Certification 2023 With Correct Answers!!
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Course
ARM
Institution
ARM
Accredited Residential Manager - ARM Certification 2023 With Correct Answers!!
Emotional Intelligence
The ability to monitor one's own and others' feelings and emotions, to discriminate among them and to use to use this information to guides one's thinking and actions.
Job Analysis
Is the pro...
Accredited Residential Manager - ARM Certification 2023
With Correct Answers!!
Emotional Intelligence
The ability to monitor one's own and others' feelings and emotions, to discriminate
among them and to use to use this information to guides one's thinking and actions.
Job Analysis
Is the process of identifying essential Skills, Knowledge, and Abilities required to
perform a job; Forms the basis of all subsequent human resources activity.
Behavioral
A type of question asked by an interviewer to determine a persons disposition based on
previous behavior in particular situations.
Orientation
Is the process of informing new employees what is expected of them on the job as well
as making them feel welcome and comfortable.
Avoiding/Avoidance
Is a style of conflict resolution in which a person withdraws from the issue and/or side-
steps the conflict.
Employee Handbook
Generally the most common format used to communicate company policies, vision, and
mission.
Job Description
Defines the job in terms the responsibilities, reporting structure, and the Skills,
Knowledge, and Abilities required to fulfill the duties of the position as identified in the
Job Analysis.
Recruiting
The process of identifying and attracting qualified job applicants.
Job Knowledge
A type of question asked by an interviewer to determine whether the applicant has the
necessary knowledge to perform the job.
Collaborative
Style of conflict resolution in which parties work together to solve the problem, and have
confidence in each other as partners.
Performance Feedback
An ongoing process in which the manager and employee have constructive
conversations related to performance.
Kinesthetic
A type of learner that learns best with a hands on approach and explore the physical
world; also called Tactile Learners.
Autocratic
A style of management in which decisions are imposed on subordinates; also known as
Theory X management,where managers believe people dislike work and must be told
what to do.
Coaching
Is used to develop employees rather than address specific behaviors and performance.
, Equal Employment Opportunity Commission
EEOC
Rent Roll/Collections Report
A listing of all units showing the residents' name, rental rate, and status of collections.
Delinquency Report
The report that tracks late payments of rent, updated monthly and sent to owner in the
reports.
Budget Variance
Is a difference in the amount forecast for an account in a budget, and the actual amount
spent or earned in the account.
Gross Potential Income (GPI)
Total income possible of a property if 100% occupied and 100% of rent collected.
Loss to Lease
The amount of money "lost" due to rents being less than market rent.
Vacancy and Collection Loss
The amount of potential income not being acquired due to vacancy or non-payment of
leased space.
Effective Gross Income
EGI
Effective Gross Income (EGI)
Net rent revenue plus miscellaneous income minus vacancy and collection loss; Income
- other expenses = ?
Net Operating Income.
NOI
Net Operating Income (NOI)
Total Collections, less operating expenses, that goes to lenders (in the form of Debt
Service) and owners (in the form of Return On Investment). EGI-OE=?
Annual Debt Service
ADS
Annual Debt Service (ADS)
Payments on principle or interest of mortgage/loans each year.
Before-Tax Cash Flow
BTCF
Before-Tax Cash Flow (BTCF)
Illustrates the owner's income, after Operating Expenses and Debt Service has been
subtracted.
Accrual Based Accounting
A method of accounting where amounts of income and expenses are entered when they
occur rather than when the money moves.
Chart of Accounts
Classification or arrangement of account items by type of Income or Expense, as well
as by accounts receivable and accounts payable and by assets and liabilities.
Asset
An economic resource expected to produce benefits or increase value of property.
Liability
Is a Debt or obligation that decreases the property Value.
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