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BOMI -Asset Management Exam | Questions And Answers Latest {2024- 2025} A+ Graded| 100% Verified
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 - 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 - 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
C. Comply with all government regulations
D. Maintain the organizations market position and revenue stream - 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 - 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 - 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 - B. Monthly
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 - 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 - 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 - 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
D. Creditworthiness of tenants - B. Go-green clauses
Janelle is a tenant representative. As such, she owes a fiduciary responsibility to:
A. The owner only
B. The tenant only
C. Both the owner and the tenant
D. Neither the owner nor the tenant - B. The tenant only
Jeanine wants a loan characterized by having an interest rate at a set level. This is a _________ loan.
A. Fixed-rate
B. Variable-rate
C. Tax-exempt
D. Wraparound - A. Fixed-rate
Magda has a 12,000 sq ft property with a current value of $2,400,000 and a net operating income of
$180,000. What is its yield?
A. 0.06
B. 0.065
C. 0.07
D. 0.075 - D. O.075
, Albert is at the last step in the ownership cycle of investment real estate, which is:
A. Managing the acquisition
B. overseeing property disposition
C. Enhancing the value of the property
D. Developing the asset plan - B. Overseeing property disposition
Glenna wants to buy the property at the lowest possible price. She knows there are many factors,
besides location, that affect price. Which of the following is not one of those quantifiable factors?
A. Taxes
B. Reputation
C. Interior condition
D. Operational costs and expenses - B. Reputation
Don, an asset manager, is selecting a property manager to mange his investment real estate. He must
consider several factors when making his decision. Which of the following would likely not be one of the
factors he should consider?
A. Holding period
B. Condition of the property
C. Redevelopment
D. Politics - D. Politics
A new auditor is slowly but methodically gathering the fate needed to conduct an audit. This process is
known as:
A. Aggregating
B. Batching
C. Sampling
D. Surveying - C. Sampling
As an asset manager, Sharon needs to address a few factors when attempting to move towards a
successful resolution for an REO property her organization has recently acquired. These factors would
likely include all of the following except:
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