Property Management Mock Exam #4 Newest
2026 Questions and Correct Detailed Answers
Already Graded A+
Which of the following forms of advertising is available to prospects 24/7
regardless of their location? - CORRECT ANSWER-Internet websites---
Prospects may pull up a website at will 24/7
When comparing different forms of advertising, the property manager should
realize that - CORRECT ANSWER-direct mail is favored by industrial and
commercial property owners---Industrial and commercial property owners and
managers can compile a list of potential tenants making direct mail a cost
effective method of advertising.
An advertising brochure will be MOST effective if - CORRECT ANSWER-all of
the above---With a theme and good appearance, it will leave a lasting impression.
Easy to comprehend will appeal to a larger audience.
When working with outside brokers in marketing space, the property manager
may expect - CORRECT ANSWER-to share a portion of the leasing fee---There
would commonly be a split negotiated.
,An estate owned by the tenant that continues for a specified period of time is
called - CORRECT ANSWER-estate for years---An estate for years must have a
definite termination date. The estate does not have to be for years. A six month
lease is an estate for years.
A couple is renting an apartment from an owner while their house is being built.
The couple's lease is about to expire but the owner has agreed to allow them to
remain in the apartment on a month-to-month basis until their house is
completed. What type of estate will the couple have? - CORRECT ANSWER-
Tenancy at will---A tenancy at will has no specific end date. The end of the
tenancy often is based on an event happening completion of the house...
A tenant of which of the following properties normally uses a gross lease? -
CORRECT ANSWER-Apartment---A gross lease is most common in residential
A tenant is required to pay additional amounts to the landlord only if and when
the business volume justifies an increase. This tenant MOST likely has a -
CORRECT ANSWER-percentage lease---Retail uses a percentage lease. The
tenant would pay base rent plus a percentage of gross sales.
In order to ensure continuity from store to store and to control expenses, many
national franchising retail chains prefer - CORRECT ANSWER-net leases---The
tenant would pay part or all of the expenses.
, The demand for professional property management around the end of the
nineteenth century resulted primarily from - CORRECT ANSWER-the invention
of the high-speed elevator---Also steel framed buildings, development of
suburban areas and investment opportunities.
What organization awards the designation Certified Property Manager (CPM)? -
CORRECT ANSWER-Institute of Real Estate Management (IREM)---IREM offers
opportunities for property managers to share ideas and programs to instruct
those coming into the business. They are an affiliate group of NAR
Which of the following BEST defines real property? - CORRECT ANSWER-Land,
including its subsurface and airspace above and all improvements---Land from
subsurface rights (oil, gas, mineral) to air rights above plus all man made
improvements (buildings, streets, sewers) equals real property
Two principal categories of commercial real estate are office property and -
CORRECT ANSWER-retail property---Both are income producing properties.
Warehouse properties would be part of industrial.
A major contributing factor to the decline of centralized commercial districts was
the - CORRECT ANSWER-development of suburban areas.---With the
expansion of transportation the population shifted to the suburbs. As a result
suburban shopping centers were built away from the city.
2026 Questions and Correct Detailed Answers
Already Graded A+
Which of the following forms of advertising is available to prospects 24/7
regardless of their location? - CORRECT ANSWER-Internet websites---
Prospects may pull up a website at will 24/7
When comparing different forms of advertising, the property manager should
realize that - CORRECT ANSWER-direct mail is favored by industrial and
commercial property owners---Industrial and commercial property owners and
managers can compile a list of potential tenants making direct mail a cost
effective method of advertising.
An advertising brochure will be MOST effective if - CORRECT ANSWER-all of
the above---With a theme and good appearance, it will leave a lasting impression.
Easy to comprehend will appeal to a larger audience.
When working with outside brokers in marketing space, the property manager
may expect - CORRECT ANSWER-to share a portion of the leasing fee---There
would commonly be a split negotiated.
,An estate owned by the tenant that continues for a specified period of time is
called - CORRECT ANSWER-estate for years---An estate for years must have a
definite termination date. The estate does not have to be for years. A six month
lease is an estate for years.
A couple is renting an apartment from an owner while their house is being built.
The couple's lease is about to expire but the owner has agreed to allow them to
remain in the apartment on a month-to-month basis until their house is
completed. What type of estate will the couple have? - CORRECT ANSWER-
Tenancy at will---A tenancy at will has no specific end date. The end of the
tenancy often is based on an event happening completion of the house...
A tenant of which of the following properties normally uses a gross lease? -
CORRECT ANSWER-Apartment---A gross lease is most common in residential
A tenant is required to pay additional amounts to the landlord only if and when
the business volume justifies an increase. This tenant MOST likely has a -
CORRECT ANSWER-percentage lease---Retail uses a percentage lease. The
tenant would pay base rent plus a percentage of gross sales.
In order to ensure continuity from store to store and to control expenses, many
national franchising retail chains prefer - CORRECT ANSWER-net leases---The
tenant would pay part or all of the expenses.
, The demand for professional property management around the end of the
nineteenth century resulted primarily from - CORRECT ANSWER-the invention
of the high-speed elevator---Also steel framed buildings, development of
suburban areas and investment opportunities.
What organization awards the designation Certified Property Manager (CPM)? -
CORRECT ANSWER-Institute of Real Estate Management (IREM)---IREM offers
opportunities for property managers to share ideas and programs to instruct
those coming into the business. They are an affiliate group of NAR
Which of the following BEST defines real property? - CORRECT ANSWER-Land,
including its subsurface and airspace above and all improvements---Land from
subsurface rights (oil, gas, mineral) to air rights above plus all man made
improvements (buildings, streets, sewers) equals real property
Two principal categories of commercial real estate are office property and -
CORRECT ANSWER-retail property---Both are income producing properties.
Warehouse properties would be part of industrial.
A major contributing factor to the decline of centralized commercial districts was
the - CORRECT ANSWER-development of suburban areas.---With the
expansion of transportation the population shifted to the suburbs. As a result
suburban shopping centers were built away from the city.
