CSSO EXAM QUESTIONS AND 100% CORRECT
ANSWERS
NACHA - Answer We support ACH payments in the system. The NACHA is the files that
you would send to your bank. In order to create the NACHA file, we need the investor's
routing and account number.
disregarded entity - Solution It is a designation by the IRS, the client may check with
their investors to see if they would fall under this label. A disregarded entity means a
business entity that has one owner and isn't separate from its owner for tax purposes.
ex: a single member llc would be a disregarded entity.
TIC - Tenant In Common:Answer the differences between TIC and a regular investment
are that in a regular investment, an investor owns a percentage of the company versus
in a TIC, the investor actually owns a percentage of the property. With a TIC, there is
much more flexibility, and you can try to get out of the deal at any time, assuming
someone is willing to buy your share.
Fund - Solution Fund is when investors pursue a portfolio of assets
Syndication - Solution Pooling the capital of multiple investors in a single real estate
opportunity
Entity Type -Solution The way you file with the IRS - Individual, Corporation, Estate or
Trust, Partnership, Disregarded Entity, Exempt Organization, IRA, Foreign Government
open ended fund - Answer A fund to which capital can be raised at any time & investors
are able to opt in to reinvest at any time. This fund is always in fundraising
Investment vehicle - Answer A special purpose entity, a pass through entity. Functions
, as a syndication in our Appfolio software but is the pass through investment on an org
chart.
Start_date - Answer the start date of the LLC/company or the close date of the property
custom_id - Answer If customer has any IDs they would like to import from another
outside software
Distribution schedule - Answer Period that distributions are made. Quarterly or monthly
are most common but semiannually and yearly are also options
status - Answer Fundraising, Active, or Sold/Closed. Active is when the investors are
locked in and money has been collected-investor has bought the asset & are sending
out distributions. Fundraising is actively raising capital still in process of bring on
investors & would not have a start date.
active - The investors are locked in and money has been collected-investor has bought
the asset & are sending out distributions. If distributions have been sent out, that would
make an investment active
Fundraising - The answer to Fundraising is that it is the active raising of capital and is
still in process, bringing on investors and would not have a start date.
endDate - Yes or no if the investment was sold/closed
external_id - The external id is the APM property/owner ID
external_id_type - "apm" remember it is LOWERCASE or will not import
Assets - Assets are the physical properties that are under the investment
investment in Assets tab -
ANSWERS
NACHA - Answer We support ACH payments in the system. The NACHA is the files that
you would send to your bank. In order to create the NACHA file, we need the investor's
routing and account number.
disregarded entity - Solution It is a designation by the IRS, the client may check with
their investors to see if they would fall under this label. A disregarded entity means a
business entity that has one owner and isn't separate from its owner for tax purposes.
ex: a single member llc would be a disregarded entity.
TIC - Tenant In Common:Answer the differences between TIC and a regular investment
are that in a regular investment, an investor owns a percentage of the company versus
in a TIC, the investor actually owns a percentage of the property. With a TIC, there is
much more flexibility, and you can try to get out of the deal at any time, assuming
someone is willing to buy your share.
Fund - Solution Fund is when investors pursue a portfolio of assets
Syndication - Solution Pooling the capital of multiple investors in a single real estate
opportunity
Entity Type -Solution The way you file with the IRS - Individual, Corporation, Estate or
Trust, Partnership, Disregarded Entity, Exempt Organization, IRA, Foreign Government
open ended fund - Answer A fund to which capital can be raised at any time & investors
are able to opt in to reinvest at any time. This fund is always in fundraising
Investment vehicle - Answer A special purpose entity, a pass through entity. Functions
, as a syndication in our Appfolio software but is the pass through investment on an org
chart.
Start_date - Answer the start date of the LLC/company or the close date of the property
custom_id - Answer If customer has any IDs they would like to import from another
outside software
Distribution schedule - Answer Period that distributions are made. Quarterly or monthly
are most common but semiannually and yearly are also options
status - Answer Fundraising, Active, or Sold/Closed. Active is when the investors are
locked in and money has been collected-investor has bought the asset & are sending
out distributions. Fundraising is actively raising capital still in process of bring on
investors & would not have a start date.
active - The investors are locked in and money has been collected-investor has bought
the asset & are sending out distributions. If distributions have been sent out, that would
make an investment active
Fundraising - The answer to Fundraising is that it is the active raising of capital and is
still in process, bringing on investors and would not have a start date.
endDate - Yes or no if the investment was sold/closed
external_id - The external id is the APM property/owner ID
external_id_type - "apm" remember it is LOWERCASE or will not import
Assets - Assets are the physical properties that are under the investment
investment in Assets tab -
