CH. 16 QUESTIONS AND ANSWERS
WITH VERIFIED SOLUTIONS 2024
The knowledge required for a successful career in commercial real estate isthe same as that required for
a residential career. - ANSWER False
The professional designation CCIM stands for Certified CommercialInvestment Manager. - ANSWER False
The professional designation CPM stands for Certified Property Manager. - ANSWER True
Land is not considered an investment property. - ANSWER False
Under a property management agreement, the manager usually assumes all executive functions of the
owner and is fully in charge of the details connected with the operation and physical upkeep of the
property - ANSWER True
An effective property manager is keenly aware that renters need to know what is expected of them and
what they can expect from the owner - ANSWER True
A property manager who is establishing current rent schedules for an apartment house must never take
current area vacancies into consideration. - ANSWER False
California law states that a separate record must be kept for each property managed. - ANSWER True
There are three basic types of leasehold estates. - ANSWER False
Under a triple net lease, the tenant pays for all operating costs of the leased property, including loan
payments. - ANSWER False
When purchasing commercial property, the first analysis should be - ANSWER A highest and best use
analysis.
WITH VERIFIED SOLUTIONS 2024
The knowledge required for a successful career in commercial real estate isthe same as that required for
a residential career. - ANSWER False
The professional designation CCIM stands for Certified CommercialInvestment Manager. - ANSWER False
The professional designation CPM stands for Certified Property Manager. - ANSWER True
Land is not considered an investment property. - ANSWER False
Under a property management agreement, the manager usually assumes all executive functions of the
owner and is fully in charge of the details connected with the operation and physical upkeep of the
property - ANSWER True
An effective property manager is keenly aware that renters need to know what is expected of them and
what they can expect from the owner - ANSWER True
A property manager who is establishing current rent schedules for an apartment house must never take
current area vacancies into consideration. - ANSWER False
California law states that a separate record must be kept for each property managed. - ANSWER True
There are three basic types of leasehold estates. - ANSWER False
Under a triple net lease, the tenant pays for all operating costs of the leased property, including loan
payments. - ANSWER False
When purchasing commercial property, the first analysis should be - ANSWER A highest and best use
analysis.
