REAL ESTATE - PROPERTY MANAGEMENT EXAM QUESTIONS WITH CORRECT ANSWERS 2026

REAL ESTATE - PROPERTY MANAGEMENT EXAM
QUESTIONS WITH CORRECT ANSWERS 2026

Property Manager - CORRECT ANSWER -Someone who manages real estate for another person
for compensation. Duties include collecting rents, maintaining the property, and keeping up all
accounting.



General Agent - CORRECT ANSWER -Property Manager



Operating Budget - CORRECT ANSWER -Income and Expenses for the operation of a property
over a ONE YEAR PERIOD

- Anticipated by revenues and expenses



Cashflow - CORRECT ANSWER -The movement of money in and out of a business or bank
account

* NOI - Mortgage Payments = Cashflow



Profit and Loss Statement - CORRECT ANSWER -Revenues and Expenses to determine whether a
business is profitable

- Can be prepared as often and one likes (created form monthly cashflow)



Setting Rental Rates - CORRECT ANSWER -Sufficient to cover fixed charges & operating expenses

- Provide a return on investment



Calculating Monthly Rent - CORRECT ANSWER -50 feet x 30 feet = 1,500 sq feet

- Find total annual rent: (2500 per month x 12 month = 30k per year)

- Divide annual rent by total square feet to determine annual rate per sq foot (30k / 1,500 sqft =
$20 per sqft)