REAL PROPERTY MANAGEMENT
CERTIFICATION EVALUATION FULL
QUESTIONS WITH COMPLETE SOLUTION
GUIDE
●● The fact that a property manager must put the owner's interest above
the property manager's own and act without self-interest is best
expressed in which of the following fiduciary duties?
Answer: Loyalty.
●● Generally, states laws require which of the following individuals to
obtain a real estate license?
Answer: An agent of a company managing property for several others.
●● To properly identify the subject property in a management contract,
all of the following are correct EXCEPT:
Answer: The full legal description is always required.
●● When disbursements exceed receipts for a certain month, usually the
manager can:
Answer: Pay costs from reserve fund previously established.
,●● The written agreement between the owner and the agent that
specifies the duties of each is known as a:
Answer: Management contract.
●● A bank employee is asked to manage the properties owned by the
bank. At the very least, the employee should be given:
Answer: Written authorization to sigh leases.
●● MOST property managers seek agreements with a term of at least:
Answer: One year.
●● If a property owner violates an applicable law or regulation, the
property manager:
Answer: May cancel the contract immediately upon serving the owner
with notice of intent.
●● A flat fee arrangement would be MOST appropriate when managing
a(n)
Answer: Condominium community.
●● Of the following, which generally offers a marginal financial return
for management?
Answer: Single family housing.
, ●● What is the major type of advertising used to rent apartments and
single-family homes?
Answer: Classified ads.
●● Which of the following types of apartment community is MOST
likely to be located in downtown urban areas?
Answer: High-rise luxury property.
●● A tenant receiving minimal services MOST likely lives in a:
Answer: walkup apartment.
●● Which of the following are generally less profitable because they
require more management time?
Answer: Scattered site housing.
●● What is the basis for sound tenant relations?
Answer: Open lines of communication.
●● Maintaining litter-free grounds and well-trimmed lawns are
examples of:
Answer: Curb appeal.
●● The show list of apartments to be rented:
CERTIFICATION EVALUATION FULL
QUESTIONS WITH COMPLETE SOLUTION
GUIDE
●● The fact that a property manager must put the owner's interest above
the property manager's own and act without self-interest is best
expressed in which of the following fiduciary duties?
Answer: Loyalty.
●● Generally, states laws require which of the following individuals to
obtain a real estate license?
Answer: An agent of a company managing property for several others.
●● To properly identify the subject property in a management contract,
all of the following are correct EXCEPT:
Answer: The full legal description is always required.
●● When disbursements exceed receipts for a certain month, usually the
manager can:
Answer: Pay costs from reserve fund previously established.
,●● The written agreement between the owner and the agent that
specifies the duties of each is known as a:
Answer: Management contract.
●● A bank employee is asked to manage the properties owned by the
bank. At the very least, the employee should be given:
Answer: Written authorization to sigh leases.
●● MOST property managers seek agreements with a term of at least:
Answer: One year.
●● If a property owner violates an applicable law or regulation, the
property manager:
Answer: May cancel the contract immediately upon serving the owner
with notice of intent.
●● A flat fee arrangement would be MOST appropriate when managing
a(n)
Answer: Condominium community.
●● Of the following, which generally offers a marginal financial return
for management?
Answer: Single family housing.
, ●● What is the major type of advertising used to rent apartments and
single-family homes?
Answer: Classified ads.
●● Which of the following types of apartment community is MOST
likely to be located in downtown urban areas?
Answer: High-rise luxury property.
●● A tenant receiving minimal services MOST likely lives in a:
Answer: walkup apartment.
●● Which of the following are generally less profitable because they
require more management time?
Answer: Scattered site housing.
●● What is the basis for sound tenant relations?
Answer: Open lines of communication.
●● Maintaining litter-free grounds and well-trimmed lawns are
examples of:
Answer: Curb appeal.
●● The show list of apartments to be rented:
