Exam (elaborations)
Property Management Final Exam Questions And Answers With Verified Solutions Latest Updated 202
- Course
- Institution
Property Management Final Exam Questions And Answers With Verified Solutions Latest Updated 2024
[Show more]
Content preview
Property Management Final ExamQuestions And Answers With Verified
Solutions Latest Updated 2024
which of the following contributed to the escalation of property management as a
profession during the early 20th century?
A) Invention of the telephone, elevator, and automobile
B) Great Depression and mortgage foreclosures
C) Building of Multi-family apartments and skyscrapers
D) All the above - ANSWER✔✔ D) all the above
An Individual who wishes to become a property manager in the 21st century
should:
A) Be computer literate
B) having an understanding of updated building codes
C) understand the needs of foreign property owners
D) All the above - ANSWER✔✔ D) all the above
The Specific markets for real Estate that may be managed by a property manager
include ____________and ___________property
A) agriculture/residential
B) agriculture/industrial
C) residential/commercial
D) residential/ agricultural - ANSWER✔✔ C) Residential/commercial
Commercial properties include all of the following; except
A) office buildings
B) shopping centers
C) single-family residences
D) warehouses - ANSWER✔✔ C) Single-family residences
Today's property managers provide executive management, tenant relations, and
maintenance expertise to their clients. A good property manager knows the
importance of keeping current with the:
,A) latest property management and landlord-tenant laws.
B) latest social media trends.
C) most recent fed funds rates.
D) upcoming association trade shows and conventions - ANSWER✔✔ A) Latest
property management and landlord-tenant laws
Bob is renting an apartment in the Spring time Apartments. Since moving in, the
air conditioning unit for the apartment has not worked. He asked the property
manager repeatedly in writing to correct the problem. Based on his right to repair
the a/c and deduct the amount from the rent, Bob called HVAC company and
deducted the amount of the bill from his next month's rent. One month later, Bob
received a Notice to Vacate. This could be ex of:
A) code enforcement
B) retaliation
C) discrimination
D) rejection - ANSWER✔✔ C) Discrimination
The property management profession offer:
A) diversity, job satisfaction, and a highly structured work environment
B) earning potential, travel, job satisfaction, a fast-paced work environment, and
job security
C) a quiet, slow-paced work environment, with limited earning potential
D) earning potential, travel, job satisfaction, a slow-paced environment, and job
security - ANSWER✔✔ B) Earning potential, travel, job satisfaction, a fast-paced
work environment, and job security
All of the following are examples of senior property management positions,
except:
A) executive manager
B) property supervisor
C) asset manager
D) Certified Property Manager - ANSWER✔✔ B) Property supervisor
, All of the following would be considered benefits of joining a professional
property management association, except:
A) not sharing ideas with other rental professionals
B) finding answers to legal questions
C) keeping current with changes in the industry
D) participating in trade conferences - ANSWER✔✔ A) not sharing ideas with
other rental professionals
The acronym, CPM stands for:
A) Certified Property Manager
B) Certified Property Mentor
C) Certified Property Management
D) Certification of Property Managers - ANSWER✔✔ A) Certified Property
Manager
Property management is a service. Which of the following is a service-oriented
focus of a property management company?
A) achieving the goals of the clients or property owners
B) Increasing or preserving the value of the managed property
C) generating the greatest possible net income for the clients
D) all the above - ANSWER✔✔ D) all of the above
When running a property management company, local ordinances may require:
A) furniture
B) the appropriate licenses
C) office space
D) employees - ANSWER✔✔ B) appropriate licenses
Which of the following insurance policies are typical for the property management
business?
A) property insurance
B) Errors and omissions insurance
C) Commercial
D) All of the above - ANSWER✔✔ D) all of the above
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75057 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now