CERTIFIED APARTMENT MANAGER TEST PAPER
QUESTIONS AND ANSWERS GRADED A+
✔✔Adware - ✔✔is a form of spyware that collects information about the user in order to
display advertisements in the Web browser based on the information it collects
from the user's browsing patterns.
✔✔Affirmative action - ✔✔is a plan or program created to increase opportunities for
minorities, women, disabled/handicapped individuals, veterans and other
protected classes
✔✔Agent - ✔✔is a person who is authorized to act for another (the agent's principal)
through employment, by contract or apparent authority. The importance is
that the agent can bind the principal by contract or create liability while in the
scope of the agency.
✔✔Aggrieved party - ✔✔is a party entitled to resort to a remedy
✔✔Aggrieved person - ✔✔is any person who claims to have been injured by a
discriminatory housing practice or believes he/she will be injured by a
discriminatory housing practice that is about to occur.
✔✔Agreement - ✔✔is the bargain of the parties in fact as found in their language or by
implication from other circumstances including course of dealing or usage of
trade or course performance.
✔✔Amenities - ✔✔are specific items offered at the community in addition to the space.
i.e.: pool, tennis courts, recreation room etc.
✔✔Amortization - ✔✔is the process of retiring a debt or recovering capital investment,
typically through scheduled, systematic repayment of the principal.
✔✔Analysis - ✔✔is researching and evaluating a situation prior to making
recommendations
✔✔Arbitration - ✔✔is a non-judicial process in which disputing parties agree to bind
themselves to whatever decision the arbitrator determines as a fair solution.
✔✔Asbestos - ✔✔is a mineral fiber than can pollute air or water and cause cancer or
asbestosis when inhaled. The U.S. Environmental Protection Agency (EPA) has
banned or severely restricted its use in manufacturing and construction.
✔✔Assignment - ✔✔is a written transfer of the rights of use and occupancy of a
property held by another legal entity, or to be used for the benefit of creditors,
,e.g., assignments of mortgages, sales contracts and/or leases.
✔✔Assisted housing - ✔✔is housing for which the government provides assistance to
facilitate occupancy, construction or financing
✔✔Back support belt - ✔✔is a flexible support belt designed to minimize muscle strain
for lifting and other upper body movement tasks.
✔✔Balance sheet - ✔✔is an itemized listing of the total assets, total liabilities and net
worth of an entity
✔✔Balloon mortgage - ✔✔is a mortgage that is not fully amortized at maturity and
requires a lump sum payment of the outstanding balance.
✔✔Banners - ✔✔are large colorful vinyl graphics and/or words strategically placed
throughout the community to promote and advertise particulars
✔✔Benefits - ✔✔There are two (2) different types of benefits:
• Benefits are an advantage of a feature, as perceived by the customer.
• Benefits are the additional incentives that are offered by employers to
attract and retain employees. Benefits may include paid vacation, paid sick
leave, and medical insurance.
✔✔Bidding process - ✔✔is a process that allows vendors a fair opportunity to bid on
services or purchases exceeding a predetermined dollar amount. Method of
securing vendors of a product or service by establishing and distributing bidder
responsibilities and qualification.
✔✔Biweekly - ✔✔refers to occurring once every two weeks. Most commonly refers to a
payroll cycle. There are 26 paydays in a biweekly payroll year
✔✔Blockbusting - ✔✔is attempting to persuade a person into selling or renting a
dwelling in a neighborhood containing people of a particular race, color,
nationality, disability, familial status, sex or religion.
✔✔Brainstorming - ✔✔a meeting for the purpose of developing creative and inspiring
ideas
✔✔Breach of contract - ✔✔is the failure to perform any term of a contract, written or
oral, without a legitimate legal excuse. This may include not completing a job,
not paying in full or on time, failure to deliver all the goods, substituting inferior
or significantly different goods, not providing a bond when required, being late
without excuse, or any act which shows the party will not complete the work
("anticipatory breach"). Breach of contract is one of the most common causes
of lawsuits for damages and/or court-ordered "specific performance" of the
, contract.
✔✔Browse - ✔✔refers to navigating through web sites on the Internet.
✔✔Browser - ✔✔is Short for Web browser; a software application used to navigate
through web sites on the Internet. The two most popular browsers are Google
Chrome and Microsoft Internet Explorer
✔✔Building entrance
on an accessible
route - ✔✔is an accessible entrance to a building
that is connected by an accessible route to public transportation stops,
accessible parking and passenger loading zones, or to public streets or
sidewalks.
✔✔Carbon monoxide - ✔✔is a colorless, odorless, poisonous gas formed when carbon
in
fuels is not burned completely.
✔✔Cash basis
accounting - ✔✔an accounting method that records income and
expenses when they are actually received or paid.
✔✔Capitalization rate
(Cap rate) - ✔✔(Cap Rate) is a rate used to convert income into value by
dividing the property's net operating income by its purchase price.
✔✔Cash flow - ✔✔refers to the amount remaining after all the sources of income are
collected and all property operating expenses, including capital expenditures,
and if applicable, replacement reserves and debt service are paid. The formula
is NOI less Capital Expenditures and Debt Service.
✔✔Cash-on-cash return - ✔✔is an investment performance measurement that
compares the cash received in each period against the original cash invested. It
can be further separated into before-tax and after-tax returns
✔✔Ceiling - ✔✔is the maximum allowable human exposure limit for an airborne
substance: not to be exceeded even momentarily.
✔✔Certification - ✔✔is the documentation of specific qualifications. It is generally used
to certify specialized training and expertise.
✔✔Civil action - ✔✔is a lawsuit filed in federal or state court. It can be either a private
civil action filed by the complaining party or an advocacy group, or it can be an
QUESTIONS AND ANSWERS GRADED A+
✔✔Adware - ✔✔is a form of spyware that collects information about the user in order to
display advertisements in the Web browser based on the information it collects
from the user's browsing patterns.
✔✔Affirmative action - ✔✔is a plan or program created to increase opportunities for
minorities, women, disabled/handicapped individuals, veterans and other
protected classes
✔✔Agent - ✔✔is a person who is authorized to act for another (the agent's principal)
through employment, by contract or apparent authority. The importance is
that the agent can bind the principal by contract or create liability while in the
scope of the agency.
✔✔Aggrieved party - ✔✔is a party entitled to resort to a remedy
✔✔Aggrieved person - ✔✔is any person who claims to have been injured by a
discriminatory housing practice or believes he/she will be injured by a
discriminatory housing practice that is about to occur.
✔✔Agreement - ✔✔is the bargain of the parties in fact as found in their language or by
implication from other circumstances including course of dealing or usage of
trade or course performance.
✔✔Amenities - ✔✔are specific items offered at the community in addition to the space.
i.e.: pool, tennis courts, recreation room etc.
✔✔Amortization - ✔✔is the process of retiring a debt or recovering capital investment,
typically through scheduled, systematic repayment of the principal.
✔✔Analysis - ✔✔is researching and evaluating a situation prior to making
recommendations
✔✔Arbitration - ✔✔is a non-judicial process in which disputing parties agree to bind
themselves to whatever decision the arbitrator determines as a fair solution.
✔✔Asbestos - ✔✔is a mineral fiber than can pollute air or water and cause cancer or
asbestosis when inhaled. The U.S. Environmental Protection Agency (EPA) has
banned or severely restricted its use in manufacturing and construction.
✔✔Assignment - ✔✔is a written transfer of the rights of use and occupancy of a
property held by another legal entity, or to be used for the benefit of creditors,
,e.g., assignments of mortgages, sales contracts and/or leases.
✔✔Assisted housing - ✔✔is housing for which the government provides assistance to
facilitate occupancy, construction or financing
✔✔Back support belt - ✔✔is a flexible support belt designed to minimize muscle strain
for lifting and other upper body movement tasks.
✔✔Balance sheet - ✔✔is an itemized listing of the total assets, total liabilities and net
worth of an entity
✔✔Balloon mortgage - ✔✔is a mortgage that is not fully amortized at maturity and
requires a lump sum payment of the outstanding balance.
✔✔Banners - ✔✔are large colorful vinyl graphics and/or words strategically placed
throughout the community to promote and advertise particulars
✔✔Benefits - ✔✔There are two (2) different types of benefits:
• Benefits are an advantage of a feature, as perceived by the customer.
• Benefits are the additional incentives that are offered by employers to
attract and retain employees. Benefits may include paid vacation, paid sick
leave, and medical insurance.
✔✔Bidding process - ✔✔is a process that allows vendors a fair opportunity to bid on
services or purchases exceeding a predetermined dollar amount. Method of
securing vendors of a product or service by establishing and distributing bidder
responsibilities and qualification.
✔✔Biweekly - ✔✔refers to occurring once every two weeks. Most commonly refers to a
payroll cycle. There are 26 paydays in a biweekly payroll year
✔✔Blockbusting - ✔✔is attempting to persuade a person into selling or renting a
dwelling in a neighborhood containing people of a particular race, color,
nationality, disability, familial status, sex or religion.
✔✔Brainstorming - ✔✔a meeting for the purpose of developing creative and inspiring
ideas
✔✔Breach of contract - ✔✔is the failure to perform any term of a contract, written or
oral, without a legitimate legal excuse. This may include not completing a job,
not paying in full or on time, failure to deliver all the goods, substituting inferior
or significantly different goods, not providing a bond when required, being late
without excuse, or any act which shows the party will not complete the work
("anticipatory breach"). Breach of contract is one of the most common causes
of lawsuits for damages and/or court-ordered "specific performance" of the
, contract.
✔✔Browse - ✔✔refers to navigating through web sites on the Internet.
✔✔Browser - ✔✔is Short for Web browser; a software application used to navigate
through web sites on the Internet. The two most popular browsers are Google
Chrome and Microsoft Internet Explorer
✔✔Building entrance
on an accessible
route - ✔✔is an accessible entrance to a building
that is connected by an accessible route to public transportation stops,
accessible parking and passenger loading zones, or to public streets or
sidewalks.
✔✔Carbon monoxide - ✔✔is a colorless, odorless, poisonous gas formed when carbon
in
fuels is not burned completely.
✔✔Cash basis
accounting - ✔✔an accounting method that records income and
expenses when they are actually received or paid.
✔✔Capitalization rate
(Cap rate) - ✔✔(Cap Rate) is a rate used to convert income into value by
dividing the property's net operating income by its purchase price.
✔✔Cash flow - ✔✔refers to the amount remaining after all the sources of income are
collected and all property operating expenses, including capital expenditures,
and if applicable, replacement reserves and debt service are paid. The formula
is NOI less Capital Expenditures and Debt Service.
✔✔Cash-on-cash return - ✔✔is an investment performance measurement that
compares the cash received in each period against the original cash invested. It
can be further separated into before-tax and after-tax returns
✔✔Ceiling - ✔✔is the maximum allowable human exposure limit for an airborne
substance: not to be exceeded even momentarily.
✔✔Certification - ✔✔is the documentation of specific qualifications. It is generally used
to certify specialized training and expertise.
✔✔Civil action - ✔✔is a lawsuit filed in federal or state court. It can be either a private
civil action filed by the complaining party or an advocacy group, or it can be an
