11/18/25, 7:38
AM
CALP (NAA) EXAM PRACTICE EXAM QUESTIONS AND
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED 2025/2026
Your community has 48 A. $1260
1/1 apartments
leasing for a market
rent of $1375. Your
manager has 1375/12= 114.58
approved an incentive
of one
month free on a 12 1375-114.58= $1260.42 --> $1260
month lease. What is
the
effective monthly rent
of the 1/1 in whole
dollars?
a. 1260
b. 1262
c. 1490
d. 1155
Your manager is A. The $1250 unit
considering a leasing
incentive on 12 month
1/
13
, 11/18/25, 7:38
AM
leases. Which would
offer the higher 2 weeks free-->
effective rent - Two
weeks
free on a 2/1 leasing 1250/2= 625 /12= 52.08 --> 1250-52.08= $1197.92
for $1250 or one
month free on a 2/1
leasing for $1275?
1 month free -->
a. the $1250 unit 1275/12=106.25
b. The $1275 unit 1275-106.25= $1168.75
c. they are the same
d. No concession
would offer the
highest
effective rent
2/
13
AM
CALP (NAA) EXAM PRACTICE EXAM QUESTIONS AND
ANSWERS WITH COMPLETE SOLUTIONS VERIFIED 2025/2026
Your community has 48 A. $1260
1/1 apartments
leasing for a market
rent of $1375. Your
manager has 1375/12= 114.58
approved an incentive
of one
month free on a 12 1375-114.58= $1260.42 --> $1260
month lease. What is
the
effective monthly rent
of the 1/1 in whole
dollars?
a. 1260
b. 1262
c. 1490
d. 1155
Your manager is A. The $1250 unit
considering a leasing
incentive on 12 month
1/
13
, 11/18/25, 7:38
AM
leases. Which would
offer the higher 2 weeks free-->
effective rent - Two
weeks
free on a 2/1 leasing 1250/2= 625 /12= 52.08 --> 1250-52.08= $1197.92
for $1250 or one
month free on a 2/1
leasing for $1275?
1 month free -->
a. the $1250 unit 1275/12=106.25
b. The $1275 unit 1275-106.25= $1168.75
c. they are the same
d. No concession
would offer the
highest
effective rent
2/
13
