PROPERTY MANAGEMENT CERTIFICATION EXAM
QUESTIONS AND CORRECT ANSWER WITH
EXPLANATION LATEST 2025-2026
1.
The primary role of a property manager is to:
A. Maximize property owner’s return
B. Represent tenants only
C. Set government policy
D. Appraise properties
Answer: A
Rationale: Property managers act in the owner’s best financial interest.
2.
A property management agreement is between:
A. Owner and property manager
B. Tenant and lender
C. Buyer and seller
D. Inspector and broker
Answer: A
Rationale: It defines management authority.
3.
Rent collection is classified as:
A. Income management function
B. Construction function
C. Legal function only
D. Appraisal function
Answer: A
Rationale: Core income responsibility.
4.
,A security deposit is used to:
A. Cover tenant damages or unpaid rent
B. Pay mortgage
C. Cover taxes
D. Pay insurance
Answer: A
Rationale: Protects landlord against losses.
5.
Vacancy rate measures:
A. Unoccupied units
B. Rental income
C. Maintenance cost
D. Insurance cost
Answer: A
Rationale: Indicates occupancy performance.
6.
Occupancy rate is:
A. Occupied units ÷ total units
B. Rent ÷ expenses
C. Income ÷ taxes
D. Loan ÷ value
Answer: A
Rationale: Measures utilization.
7.
A lease agreement is:
A. Legal contract between landlord and tenant
B. Insurance policy
C. Tax document
D. Loan agreement
Answer: A
Rationale: Defines rental terms.
, 8.
Gross lease means:
A. Landlord pays most expenses
B. Tenant pays all expenses
C. No expenses exist
D. Taxes only paid
Answer: A
Rationale: Owner covers operating costs.
9.
Net lease means:
A. Tenant pays some or all expenses
B. Landlord pays all expenses
C. No rent
D. Government pays expenses
Answer: A
Rationale: Shifts costs to tenant.
10.
Triple net lease (NNN) includes:
A. Taxes, insurance, maintenance
B. Rent only
C. Utilities only
D. Loan payments
Answer: A
Rationale: Tenant bears most costs.
11.
Maintenance responsibility usually belongs to:
A. Property manager
B. Tenant only
C. Government
QUESTIONS AND CORRECT ANSWER WITH
EXPLANATION LATEST 2025-2026
1.
The primary role of a property manager is to:
A. Maximize property owner’s return
B. Represent tenants only
C. Set government policy
D. Appraise properties
Answer: A
Rationale: Property managers act in the owner’s best financial interest.
2.
A property management agreement is between:
A. Owner and property manager
B. Tenant and lender
C. Buyer and seller
D. Inspector and broker
Answer: A
Rationale: It defines management authority.
3.
Rent collection is classified as:
A. Income management function
B. Construction function
C. Legal function only
D. Appraisal function
Answer: A
Rationale: Core income responsibility.
4.
,A security deposit is used to:
A. Cover tenant damages or unpaid rent
B. Pay mortgage
C. Cover taxes
D. Pay insurance
Answer: A
Rationale: Protects landlord against losses.
5.
Vacancy rate measures:
A. Unoccupied units
B. Rental income
C. Maintenance cost
D. Insurance cost
Answer: A
Rationale: Indicates occupancy performance.
6.
Occupancy rate is:
A. Occupied units ÷ total units
B. Rent ÷ expenses
C. Income ÷ taxes
D. Loan ÷ value
Answer: A
Rationale: Measures utilization.
7.
A lease agreement is:
A. Legal contract between landlord and tenant
B. Insurance policy
C. Tax document
D. Loan agreement
Answer: A
Rationale: Defines rental terms.
, 8.
Gross lease means:
A. Landlord pays most expenses
B. Tenant pays all expenses
C. No expenses exist
D. Taxes only paid
Answer: A
Rationale: Owner covers operating costs.
9.
Net lease means:
A. Tenant pays some or all expenses
B. Landlord pays all expenses
C. No rent
D. Government pays expenses
Answer: A
Rationale: Shifts costs to tenant.
10.
Triple net lease (NNN) includes:
A. Taxes, insurance, maintenance
B. Rent only
C. Utilities only
D. Loan payments
Answer: A
Rationale: Tenant bears most costs.
11.
Maintenance responsibility usually belongs to:
A. Property manager
B. Tenant only
C. Government
