Property Management Mock Exam #4/ 100 Qs
with Certified Ans.
The demand for professional property management around the end of the
nineteenth century resulted primarily from - 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)? -
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
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,Which of the following BEST defines real property? - 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 -
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 - 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.
Along with knowledge, experience, and expertise, the property manager must
have which of the following personal characteristics? - Answer: Honesty and
integrity---Honesty and integrity to do the right thing
Housing prices have greatly increased in some parts of the country. What are the
consequences if people cannot afford to buy their housing? - Answer: Greater
demand for rental properties---This would cause many to not qualify for financing
creating the need to rent.
In a marketing analysis, the specific goal of a property manager is to identify major
economic trends and the - Answer: effect on the value of the specific property at
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, the manager's particular market level---A market analysis incorporates
information about the region and local area where the property is located.
Which of the following is a major part of a neighborhood analysis? - Answer:
Boundaries and land use---Also included would be building codes, transportation,
utilities, economy, supply and demand, amenities and facilities
When there are more units available than tenants, it is referred to as - Answer:
technical oversupply---Available rent space exceeds tenant demand.
The property manager has just taken over a new property. What is the point of
reading all of the leases? - Answer: Identify the amount and durability of the
rental income---The manager would figure how sustainable the rental income
would be.
What is the final step when completing a management plan? - Answer: Identify
and analyze the owner's goals---The manager would analyze the data and verify if
it will support the owner's goals.
What type of relationship do colleges, large corporations, and private institutions
that require the services of a property manager for their properties prefer? -
Answer: Employer-employee relationship---These special purpose properties
would hire an internal person with the expertise in their specific field.
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with Certified Ans.
The demand for professional property management around the end of the
nineteenth century resulted primarily from - 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)? -
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
Page 1 of 19
,Which of the following BEST defines real property? - 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 -
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 - 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.
Along with knowledge, experience, and expertise, the property manager must
have which of the following personal characteristics? - Answer: Honesty and
integrity---Honesty and integrity to do the right thing
Housing prices have greatly increased in some parts of the country. What are the
consequences if people cannot afford to buy their housing? - Answer: Greater
demand for rental properties---This would cause many to not qualify for financing
creating the need to rent.
In a marketing analysis, the specific goal of a property manager is to identify major
economic trends and the - Answer: effect on the value of the specific property at
Page 2 of 19
, the manager's particular market level---A market analysis incorporates
information about the region and local area where the property is located.
Which of the following is a major part of a neighborhood analysis? - Answer:
Boundaries and land use---Also included would be building codes, transportation,
utilities, economy, supply and demand, amenities and facilities
When there are more units available than tenants, it is referred to as - Answer:
technical oversupply---Available rent space exceeds tenant demand.
The property manager has just taken over a new property. What is the point of
reading all of the leases? - Answer: Identify the amount and durability of the
rental income---The manager would figure how sustainable the rental income
would be.
What is the final step when completing a management plan? - Answer: Identify
and analyze the owner's goals---The manager would analyze the data and verify if
it will support the owner's goals.
What type of relationship do colleges, large corporations, and private institutions
that require the services of a property manager for their properties prefer? -
Answer: Employer-employee relationship---These special purpose properties
would hire an internal person with the expertise in their specific field.
Page 3 of 19
