Accredited Residential Manager - ARM Certification 2024 With Correct Answers

Accredited Residential Manager - ARM Certification 2024 With Correct Answers Emotional Intelligence - Answer ️️ -The ability to monitor one's own and others' feelings and emotions, to discriminate among them and to use to use this information to guides one's thinking and actions. Job Analysis - Answer ️️ -Is the process of identifying essential Skills, Knowledge, and Abilities required to perform a job; Forms the basis of all subsequent human resources activity. Behavioral - Answer ️️ -A type of question asked by an interviewer to determine a persons disposition based on previous behavior in particular situations. Orientation - Answer ️️ -Is the process of informing new employees what is expected of them on the job as well as making them feel welcome and comfortable. Avoiding/Avoidance - Answer ️️ -Is a style of conflict resolution in which a person withdraws from the issue and/or side-steps the conflict. Employee Handbook - Answer ️️ -Generally the most common format used to communicate company policies, vision, and mission. Job Description - Answer ️️ -Defines the job in terms the responsibilities, reporting structure, and the Skills, Knowledge, and Abilities required to fulfill the duties of the position as identified in the Job Analysis. Recruiting - Answer ️️ -The process of identifying and attracting qualified job applicants. Job Knowledge - Answer ️️ -A type of question asked by an interviewer to determine whether the applicant has the necessary knowledge to perform the job. Collaborative - Answer ️️ -Style of conflict resolution in which parties work together to solve the problem, and have confidence in each other as partners. Performance Feedback - Answer ️️ -An ongoing process in which the manager and employee have constructive conversations related to performance. Kinesthetic - Answer ️️ -A type of learner that learns best with a hands on approach and explore the physical world; also called Tactile Learners. Autocratic - Answer ️️ -A style of management in which decisions are imposed on subordinates; also known as Theory X management,where managers believe people dislike work and must be told what to do. Coaching - Answer ️️ -Is used to develop employees rather than address specific behaviors and performance. Equal Employment Opportunity Commission - Answer ️️ -EEOC Rent Roll/Collections Report - Answer ️️ -A listing of all units showing the residents' name, rental rate, and status of collections. Delinquency Report - Answer ️️ -The report that tracks late payments of rent, updated monthly and sent to owner in the reports. Budget Variance - Answer ️️ -Is a difference in the amount forecast for an account in a budget, and the actual amount spent or earned in the account. Gross Potential Income (GPI) - Answer ️️ -Total income possible of a property if 100% occupied and 100% of rent collected. Loss to Lease - Answer ️️ -The amount of money "lost" due to rents being less than market rent. Vacancy and Collection Loss - Answer ️️ -The amount of potential income not being acquired due to vacancy or non-payment of leased space. Effective Gross Income - Answer ️️ -EGI Effective Gross Income (EGI) - Answer ️️ -Net rent revenue plus miscellaneous income minus vacancy and collection loss; Income - other expenses = ? Net Operating Income. - Answer ️️ -NOI Net Operating Income (NOI) - Answer ️️ -Total Collections, less operating expenses, that goes to lenders (in the form of Debt Service) and owners (in the form of Return On Investment). EGI- OE=? Annual Debt Service - Answer ️️ -ADS Annual Debt Service (ADS) - Answer ️️ -Payments on principle or interest of mortgage/loans each year. Before-Tax Cash Flow - Answer ️️ -BTCF Before-Tax Cash Flow (BTCF) - Answer ️️ -Illustrates the owner's income, after Operating Expenses and Debt Service has been subtracted. Accrual Based Accounting - Answer ️️ -A method of accounting where amounts of income and expenses are entered when they occur rather than when the mo