Commercial Real Estate SAE - Champion's School of Real
Estate 495 Questions with Verified Answers
Productivity Management - CORRECT ANSWER Measuring the results from the
use of available systems and tools for prospecting activities
CRM - CORRECT ANSWER Contact Relationship Manager, a tool used to automate
prospecting tasks and manage leads
Geographic farming - CORRECT ANSWER A particular area that may include
neighborhoods that a sales agent or broker markets for the solicitation of
business
Management plan - CORRECT ANSWER A schedule of activities that creates the
ability to measure accomplished tasks
_________ are an important way to offer a platform for advice and
encouragement for agents - CORRECT ANSWER Business meetings
Incremental evaluation - CORRECT ANSWER Evaluations that take place at pre-
determined intervals, such as monthly
ongoing evaluation - CORRECT ANSWER Takes place consistently throughout each
week to help business owners monitor, assess, and analyze specific assets of their
firms
preventative controls - CORRECT ANSWER A type of financial control through
assignment of duties, authorization, and verification, and access to equipment,
cash, and other assets
detective controls - CORRECT ANSWER A type of financial control that includes
performance reviews, reconciliation of financial records, audits, inventories, and
other investigative activities
,business activity management - CORRECT ANSWER A process that can help
brokerage owners to recognize, define, and analyze critical risks, and
opportunities
data retention plan - CORRECT ANSWER A set of policies for handling sensitive
information using protocols that meet federal, state, and local legal requirements
information management - CORRECT ANSWER Systems that allow businesses to
collect, store, organize retain, and communicate information
lean management - CORRECT ANSWER The evaluation of a brokerage's structure
to improve efficiency to maximize what it is that customers value about your
business, always with an eye out for cost reduction
vertical expansion - CORRECT ANSWER Growth through adding specialty
departments
horizontal expansion - CORRECT ANSWER Growth by enlarging the company
through adding branch offices
organic growth - CORRECT ANSWER Referred to as true growth, involves
expansion through the company's own resources such as energy, personnel,
creativity, and reputation
inorganic growth - CORRECT ANSWER Growth by adding additional businesses
from the outside to produce company growth
merger - CORRECT ANSWER Growth by bringing two or more companies together,
combining their assets
acquisition - CORRECT ANSWER Growth through one company buying another
company
venture capital - CORRECT ANSWER Investment from outside resources used to
grow or start a company
,mentor - CORRECT ANSWER An experienced agent who guides a newer agent
through their first year of real estate
comprehensive database - CORRECT ANSWER A list of properties and property
owners within a geographical region
time blocking - CORRECT ANSWER Separating periods of time for different
activities
intermediary brokerage - CORRECT ANSWER Brokerages that will represent both
parties in a transaction
caveat emptor - CORRECT ANSWER Let the buyer beware
fair housing - CORRECT ANSWER Federal, state, and local laws that ensure the
public has unobstructed access to housing
CCIM - CORRECT ANSWER Certified Commercial Investment Member designation
for commercial real estate agents who want to further their business practices
through education and networking opportunities
IREM - CORRECT ANSWER Institute of Real Estate Management is an international
community of real estate managers dedicated to ethical business practices,
maximizing the value of investment real estate, and promoting superior
management through education and information sharing
SIOR - CORRECT ANSWER Society of Industrial and Office Realtors is a professional
organization that is affiliated with NAR
ICSC - CORRECT ANSWER International Council of Shopping Centers is designed to
advance the shopping center industry and to promote its role in the commercial
distribution of consumer goods and services
BOMA - CORRECT ANSWER Building Owners and Managers Association is an
association of building owners, managers, developers, leasing professionals,
corporate facility managers, asset managers, and providers of the products
needed to operate commercial properties
, NARPM - CORRECT ANSWER The National Association of Residential Property
Managers is an organization of managers of single-family and small multifamily
properties
diplomacy - CORRECT ANSWER The ability to handle clients and situations in a
sensitive and effective way
Agent Jay procures a buyer for the owner of a convenience store in a high-crime
urban area. There have been 3 robberies, a fatal stabbing, and fatal shooting on
the property in the last two years. The fatal stabbing occurred in the parking lot,
after hours. The fatal shooting occurred inside the establishment during a
robbery, killing the store clerk. The suspects were never apprehended.
Jay knows the history of the property from watching the evening news. His buyer,
however, lives in a different city, over 200 miles away.
Are the seller or Agent Jay obligated to disclose the murders that took place on
the property to the seller? - CORRECT ANSWER No
T or F: The CCIM is the largest commercial real estate professional organization. -
CORRECT ANSWER true
T or F: Federal Fair Housing laws apply to both residential and commercial real
estate transactions. - CORRECT ANSWER false
T or F: Federal, state, and local fair housing laws ensure that only citizens have an
unobstructed access to housing. - CORRECT ANSWER false
T or F: The Canons of Professional Ethics and Conduct include loyalty as an article.
- CORRECT ANSWER false
T or F: The sale of a house is considered a good under the Deceptive Trade
Practices and Consumer Protection Act. - CORRECT ANSWER true
T or F: The primary duty of a real estate agent is to represent the interests of his
or her client. - CORRECT ANSWER true
