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RE Property Management MC With correct 225 questions and verified answers updated 2024
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RE Property Management MC With correct 225 questions and verified answers updated 2024
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RE Property Management MC With correct225 questions and verified answers
updated 2024
BOMA:
CAI:
ICSC:
IREM:
NAA:
NAIOP:
SIOR:
TAA:
ULI: - ✔✔ANSW✔✔..Building Owners and Managers Association
Community Associations Institute
International Council of Shopping Centers
Institute of Real Estate Management
National Apartment Association
National Association of Industrial Office Parks
Society of Industrial and Office REALTORS®
Texas Apartment Association
Urban Land Institute (non-profit)
Which of the following is not required if a landlord plans to sell the seized non-exempt
property of a tenant?
Notice
A written lease provision authorizing the sale
An order from the court
A 30 day waiting period after notice - ✔✔ANSW✔✔..An order from the court
,Under what circumstances may a landlord remove the contents of the premises from
exempt property? - ✔✔ANSW✔✔..When the tenant has abandoned the property
If the landlord delays making a repair after delivering the first affidavit for delay to the
tenant, what are the legal consequences? - ✔✔ANSW✔✔..The landlord will have the
burden of proving good faith for subsequent delays
After a complete casualty loss of the premises, if a tenant wants to terminate the lease,
may he do so? - ✔✔ANSW✔✔..Yes, but he must do so before the repairs are complete
Which of the following is an exception to the rule that the tenant has a cause of action
against a landlord who fails to repair within a reasonable time after a tenant request to
repair? - ✔✔ANSW✔✔..The condition was caused by a casualty loss
What language must be included in the lease in boldface type and all capitals with
regard to the landlord's duty to repair? - ✔✔ANSW✔✔..The judicial remedies available
to the tenant in the event the landlord fails to repair
In what form should the tenant give a notice to the landlord about a problem in the rental
unit that needs to be repaired? - ✔✔ANSW✔✔..does not have to be in writting
How much time has the landlord to provide a written explanation for delay in
performance until the burden of proof shifts to him/her? - ✔✔ANSW✔✔..5 days
What is the longest amount of time a landlord may delay repairs, even if he files
affidavits? - ✔✔ANSW✔✔..6 months
How are capital improvements handled on a tax return? - ✔✔ANSW✔✔..They are
depreciated.
Repairs can be written off 100% as an operating expense, but capital improvements are
written off through a depreciation schedule.
With regards to minimum requirements, how thick should a carpet pad be? -
✔✔ANSW✔✔..The carpet pad should be at least 9/16" inch in thickness and should be
made of recycled foam chunks.
How often should the electrical systems be inspected by a licensed electrician? -
✔✔ANSW✔✔..Every 3 to 5 years
Deferred maintenance would include all except which of the following?
Repair of a leaking pipe
Replacing an air conditioning filter
Adding an air handler to the HVAC system
, Preventive maintenance - ✔✔ANSW✔✔..Deferred maintenance is maintenance that
was not performed when it should have been. Adding to an HVAC system is not regular
maintenance, but expansion.
Which of the following services should be performed by a contractor? -
✔✔ANSW✔✔..Both Cleaning & Landscaping
A reserve study projects replacement of building components over the next ___. -
✔✔ANSW✔✔..20 years
How often should the parking-garage surfaces be cleaned? - ✔✔ANSW✔✔..Twice a
year / every 6 months
Which of the following would not be a component of a building assessment?
Profit and loss statement
Preventive maintenance program
Deferred maintenance program
Capital forecast - ✔✔ANSW✔✔..Profit and loss statement
A profit and loss statement is a summary of the financial performance of a business
over time and has nothing to do with a building assessment.
What is the optimal pool temperature? - ✔✔ANSW✔✔..78 degrees
What is the bare minimum amount of insulation that should be installed in ceiling areas?
- ✔✔ANSW✔✔..12 inches
Contractors for residential contracts must deliver a ____________ to the Owner prior to
executing the contract. - ✔✔ANSW✔✔..disclosure statement
To which of the following would a mechanic's lien not attach? - ✔✔ANSW✔✔..personal
property
The most efficient exterior lighting is________________. - ✔✔ANSW✔✔..Fluorescent
lighting is the most effective choice for many industrial and exterior lighting applications.
What is the largest component of a commercial building's electricity bill? -
✔✔ANSW✔✔..lighting
The EPA recommends that residential properties use _______ for lighting. -
✔✔ANSW✔✔..qualified compact fluorescent
What is an administrative fee? - ✔✔ANSW✔✔..A fee in addition to the management fee
that covers administrative expenses associated with the property
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