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BOMI - Asset Management Exam Practice Questions and Answers | 100% Pass
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BOMI - Asset Management Exam Practice Questions and Answers | 100% Pass To garner more from the sale of the property, the asset manager is recommending to the owner that that he improve the property's urban appeal. The owner can accomplish this by doing all of the following except. A. Upgrade...

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  • September 13, 2024
  • 60
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • bomi asset management exam practice questions an

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©SOPHIABENNETT
EXAM_SOLUTIONS GUARANTEED SUCCESS 2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/3/24 2024/2025

, ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM



BOMI - Asset Management Exam
Practice Questions and Answers | 100%
Pass


To garner more from the sale of the property, the asset manager is recommending to

the owner that that he improve the property's urban appeal. The owner can accomplish

this by doing all of the following except.

A. Upgrade the landscape areas

B. Ensure the lighting works

C. Repaint the building

D. Improve signage - Answer✔️✔️-B. Ensure the lighting works

Triana prefers the accrual basis accounting approach because it has many advantages

over other approaches. These advantages include all of the following except:

A. Is the simplest of the various accounting approaches

B. Allows consistent performance figures between accounting periods

C. Prevents large swings in net proceeds

D. Avoid anomalies found with cash basis accounting - Answer✔️✔️-A. Is the simplest of

the various accounting approaches

Greg is developing an asset management plan. The primary purpose of such a plan is

to:

A. Implement the owners objectives in the property management

B. Realize an immediate positive return on investment

Page | 1

, ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM


C. Comply with all government regulations

D. Maintain the organizations market position and revenue stream - Answer✔️✔️-A.

Implement the owners objectives in property management

Mark manages a property with $850,603 in gross potential income, $45,018 in operating

expenses and a $72,000 vacancy loss. What is the NOI?

A. $733,585

B. $778,603

C. $805,585

D. $877,585 - Answer✔️✔️-A. $733,585

Elwood is considering a particular building for investment purposes. Since the building

is 15 years old, it can be considered:

A. Class A building only

B. Class B building only

C. Either a class A or class B building

D. Neither a class A or class B building - Answer✔️✔️-C. either a class A or class B

building

Overall, it is best if Barbara, an asset manager, receives her comprehensive reporting

package:

A. Weekly

B. Monthly

C. Quarterly

D. Annually - Answer✔️✔️-B. Monthly




Page | 2

, ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM


Because of severe financial setbacks, Cesar has had his company's property foreclosed

upon, The very first step in this foreclosure procedure is:

A. The deed being cleared of all junior liens

B. The lender assigning rents to itself

C. A notice of default being sent to the recorders office

D. A notice of default being given to the borrower - Answer✔️✔️-D. A notice of default

being given to the borrower

Jurgen will be selling his property as-is, This means that he makes no warranties or

representation about the ____________ of the property.

A. Condition

B. Habitability

C. Potential use

D. All of the above - Answer✔️✔️-D. All of the above

If Harvey is to establish the date, location, and subject of an audit, he would need to:

A. Send a pre-audit letter

B. Conduct a pre-audit interview

C. Conduct an exit interview

D. Send an audit response letter - Answer✔️✔️-A. Send a pre-audit letter

Donald is examining the factors that affect, either positive or negative, the value of the

property created by leasing. These factors include all of the following except?

A. Co-tenancy clauses

B. Go-green clauses

C. Ownership objectives


Page | 3

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