CERTIFIED APARTMENT MANAGER
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS COMPLETE STUDY
GUIDE
●● When renters decide where to rent, what three primary factors of
location do they consider?
Answer: Proximity to work, school, stores, etc.
Walkability
Proximity to public transportation
●● When renters decide to rent, what 2 primary factors of life
circumstance do they consider?
Answer: Flexibility and ability to move easily.
Reluctance to maintain a house.
●● As a CAM, what do your knowledge, skills, and decisions directly
contribute to?
Answer: The financial success and value of a property.
●● What term describes an investment to increasing in value?
Answer: Growth
,●● What other factors impact investments?
Answer: Risk: The possibility of losing some of an initial investment
Income: The expected financial return from an investment
Liquidity: the ease with which an asset can be converted to cash
●● When playing the role of an investor advocate, who is included?
Answer: Owners
Investors
Lenders
●● When playing the role of a resident advocate, who is included?
Answer: Residents
Prospects
Neighbors
Employees
●● What is the key to advocating for all groups?
Answer: Maintain ethics and balance.
●● What types of affordable housing are available?
Answer: Section 8
,Low Income Housing Tax Credit (LIHTC)
Workforce Housing
●● What types of senior housing are available to people over 55?
Answer: Independent Living
Assisted Living
Full Service or Continuing Senior Care
●● In what type of housing do residents own a "share" of the property
and occupy a unit as if they were owners?
Answer: Co-op
●● What are the differences among mid, low, and high rise apartment
buildings?
Answer: A low rise has 4 stories or fewer
A mid rise has 5-10 stories
A high rise has more than 10 stories
●● What is a corporate apartment?
Answer: A fully furnished apartment equipped with all necessary
amenities.
, ●● What information do you need in order to complete a financial
analysis on a property?
Answer: The Income Statement
●● When doing a financial analysis, why do you need to identify the
GPR first?
Answer: All other income & expenses are measured and evaluated as a
percentage of GPR.
●● What are the three primary types of income you will look
for/calculate?
Answer: Effective Gross Income (EGI)
Net Operating Income (NOI)
Cash Flow (CF)
●● What is a Chart of Accounts?
Answer: A list of accounts to which revenue and expenses are posted
and show up on the General Ledger.
●● What is used to generate an Income Statement?
Answer: Entries in the General Ledger
●● List some benefits of minimizing financial loss
UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS COMPLETE STUDY
GUIDE
●● When renters decide where to rent, what three primary factors of
location do they consider?
Answer: Proximity to work, school, stores, etc.
Walkability
Proximity to public transportation
●● When renters decide to rent, what 2 primary factors of life
circumstance do they consider?
Answer: Flexibility and ability to move easily.
Reluctance to maintain a house.
●● As a CAM, what do your knowledge, skills, and decisions directly
contribute to?
Answer: The financial success and value of a property.
●● What term describes an investment to increasing in value?
Answer: Growth
,●● What other factors impact investments?
Answer: Risk: The possibility of losing some of an initial investment
Income: The expected financial return from an investment
Liquidity: the ease with which an asset can be converted to cash
●● When playing the role of an investor advocate, who is included?
Answer: Owners
Investors
Lenders
●● When playing the role of a resident advocate, who is included?
Answer: Residents
Prospects
Neighbors
Employees
●● What is the key to advocating for all groups?
Answer: Maintain ethics and balance.
●● What types of affordable housing are available?
Answer: Section 8
,Low Income Housing Tax Credit (LIHTC)
Workforce Housing
●● What types of senior housing are available to people over 55?
Answer: Independent Living
Assisted Living
Full Service or Continuing Senior Care
●● In what type of housing do residents own a "share" of the property
and occupy a unit as if they were owners?
Answer: Co-op
●● What are the differences among mid, low, and high rise apartment
buildings?
Answer: A low rise has 4 stories or fewer
A mid rise has 5-10 stories
A high rise has more than 10 stories
●● What is a corporate apartment?
Answer: A fully furnished apartment equipped with all necessary
amenities.
, ●● What information do you need in order to complete a financial
analysis on a property?
Answer: The Income Statement
●● When doing a financial analysis, why do you need to identify the
GPR first?
Answer: All other income & expenses are measured and evaluated as a
percentage of GPR.
●● What are the three primary types of income you will look
for/calculate?
Answer: Effective Gross Income (EGI)
Net Operating Income (NOI)
Cash Flow (CF)
●● What is a Chart of Accounts?
Answer: A list of accounts to which revenue and expenses are posted
and show up on the General Ledger.
●● What is used to generate an Income Statement?
Answer: Entries in the General Ledger
●● List some benefits of minimizing financial loss
