CERTIFIED PROFESSIONAL PROPERTY
SPECIALIST CPPS 2026 EXAMS SET
QUESTIONS AND COMPLETE SOLUTIONS
DETAILED PRACTICE REVIEW GUIDE
GRADED A+
⩥ Impact of the Great Depression on the Property Management
Profession.
Answer: -Numerous apartment building owners defaulted and banks and
other lenders had to establish their own in-house management staff or
contract for outside management.
-This period marked the beginning of modern management as more and
more properties came under the same ownership and property
management became a necessity.
-Creation of the Federal Housing Administration
-Caretaker manager
⩥ Trend in home ownership after world war II.
Answer: -urban exodus to the suburbs began --> american dream
⩥ Evolution of the Property Management Field (Evolution Typology).
,Answer: Owner Manager --> 1930s caretaker --> 1960s Emerging
Professional Manager --> 1980s Sales & Marketing Manager --> 1990s
Income Maximization Manager
⩥ 7 goals of ownership.
Answer: -specific rate of return
-regular cash flow
-tax benefits
-investment diversification
-quick profit from repositioning
-increased value over time
-pride of ownership
⩥ Perform a basic Net Operating Income calculation.
Answer: NOI = rental income+other income-vacancy losses-total
operating expenses
⩥ Perform a basic Cap rate calculation.
Answer: NOI/property value = capitalization rate
⩥ Perform a basic Occupancy Percentage Calculation.
Answer: number of units occupied/number of units total
, ⩥ Common trends in property income & expenses (review budget
handout).
Answer:
⩥ List & describe different types of property ownership.
Answer: -individual investors
-partnerships
-joint ventures
-corporate ownership
-institutional ownership
-REITS
-shared interest associations
-government
-limited dividend & non-profit
-foreign
⩥ List the 7 types of rental properties.
Answer: -Suburban garden apartments
-Mid-rise apartments (6-9 stories)
-High-rise apartments (10 + stories)
-Mixed-use communities
-Townhouse communities
SPECIALIST CPPS 2026 EXAMS SET
QUESTIONS AND COMPLETE SOLUTIONS
DETAILED PRACTICE REVIEW GUIDE
GRADED A+
⩥ Impact of the Great Depression on the Property Management
Profession.
Answer: -Numerous apartment building owners defaulted and banks and
other lenders had to establish their own in-house management staff or
contract for outside management.
-This period marked the beginning of modern management as more and
more properties came under the same ownership and property
management became a necessity.
-Creation of the Federal Housing Administration
-Caretaker manager
⩥ Trend in home ownership after world war II.
Answer: -urban exodus to the suburbs began --> american dream
⩥ Evolution of the Property Management Field (Evolution Typology).
,Answer: Owner Manager --> 1930s caretaker --> 1960s Emerging
Professional Manager --> 1980s Sales & Marketing Manager --> 1990s
Income Maximization Manager
⩥ 7 goals of ownership.
Answer: -specific rate of return
-regular cash flow
-tax benefits
-investment diversification
-quick profit from repositioning
-increased value over time
-pride of ownership
⩥ Perform a basic Net Operating Income calculation.
Answer: NOI = rental income+other income-vacancy losses-total
operating expenses
⩥ Perform a basic Cap rate calculation.
Answer: NOI/property value = capitalization rate
⩥ Perform a basic Occupancy Percentage Calculation.
Answer: number of units occupied/number of units total
, ⩥ Common trends in property income & expenses (review budget
handout).
Answer:
⩥ List & describe different types of property ownership.
Answer: -individual investors
-partnerships
-joint ventures
-corporate ownership
-institutional ownership
-REITS
-shared interest associations
-government
-limited dividend & non-profit
-foreign
⩥ List the 7 types of rental properties.
Answer: -Suburban garden apartments
-Mid-rise apartments (6-9 stories)
-High-rise apartments (10 + stories)
-Mixed-use communities
-Townhouse communities
