CALP (NAA) Exam Practice
A two bedroom unit measuring 1175 sqft rents for $1.47 per square foot per month. What is its
monthly rent?
a. $1575
b. $1727
c. $1830
d. $1600 - ANS-B. $1727
1175 * 1.47 = $1727.25
Economic Occupancy Formula - ANS-Economic Occupancy (EO) = TRR / GPR
Gross Potential Rent (GPR)
- concessions
- vacancy
- bad debt
Equals Total Rent Revenue (TRR)
If a 457 unit property moves out 18 units per month avg and moves in 15 units per month avg,
what is the property's annual turnover rate?
a. 47.3%
b. 45.5%
c. 7.9%
d. 9.7% - ANS-A. 47.3%
Turnover is only looking at move OUTS; questions wants to know ANNUAL.
18 (move outs) * 12 (annual) = 216 (move outs in one year)
216/457 (# of units) = .47 --> 47%
If a 669 unit property has an annual turnover rate of 47.5%, how many units moved out (use
whole numbers)
a. 351
b. 318
c. 331
d. 327 - ANS-B. 318
669*.475=317.78 --> 318
, Mary closes 13 prospects out of 18 walks; Jody closes 9 prospects out of 13 walks; Latasha
closes 8 leases out of 11 walks. Who had the highest closing ratio?
a. Mary
b. Jody
c. Latasha
d. Mary and Latasha have the same - ANS-C. Latasha
Formula: Closed prospects (applicants) divided by # of walks (shows)
What is a 412 unit property's leased percentage with 387 units occupied, 12 on notice to vacate,
14 vacants preleased, and 2 notices preleased?
a. 93.0%
b. 94.9%
c. 98.6%
d. 92.8% - ANS-B. 94.9%
387 (occupied) - 12 (NTV) + 14 (vacants preleased) + 2 (NTV preleased) = 391
391/412 (# of total units) = .9490 --> 94.9%
What is the average 1 bedroom unit size at your community with 3 one bedroom plans?
Plan A 24 units @ 645 sqft
Plan B 12 units @ 758 sqft
Plan C 36 units @ 952 sqft
a. 785 sqft
b. 792 sqft
c. 817 sqft
d. 809 sqft - ANS-C. 817 sqft
24*645=15480
12*758=9096
36*952=34272
TOTAL: 57848
THEN ADD THE TOTAL # OF UNITS
24+12+36=72
58484/72= $817.33
What is the average rent per sqft for these 4 properties in your monthly market survey?
Property A $1.46/sf
Property B $1.37/sf
A two bedroom unit measuring 1175 sqft rents for $1.47 per square foot per month. What is its
monthly rent?
a. $1575
b. $1727
c. $1830
d. $1600 - ANS-B. $1727
1175 * 1.47 = $1727.25
Economic Occupancy Formula - ANS-Economic Occupancy (EO) = TRR / GPR
Gross Potential Rent (GPR)
- concessions
- vacancy
- bad debt
Equals Total Rent Revenue (TRR)
If a 457 unit property moves out 18 units per month avg and moves in 15 units per month avg,
what is the property's annual turnover rate?
a. 47.3%
b. 45.5%
c. 7.9%
d. 9.7% - ANS-A. 47.3%
Turnover is only looking at move OUTS; questions wants to know ANNUAL.
18 (move outs) * 12 (annual) = 216 (move outs in one year)
216/457 (# of units) = .47 --> 47%
If a 669 unit property has an annual turnover rate of 47.5%, how many units moved out (use
whole numbers)
a. 351
b. 318
c. 331
d. 327 - ANS-B. 318
669*.475=317.78 --> 318
, Mary closes 13 prospects out of 18 walks; Jody closes 9 prospects out of 13 walks; Latasha
closes 8 leases out of 11 walks. Who had the highest closing ratio?
a. Mary
b. Jody
c. Latasha
d. Mary and Latasha have the same - ANS-C. Latasha
Formula: Closed prospects (applicants) divided by # of walks (shows)
What is a 412 unit property's leased percentage with 387 units occupied, 12 on notice to vacate,
14 vacants preleased, and 2 notices preleased?
a. 93.0%
b. 94.9%
c. 98.6%
d. 92.8% - ANS-B. 94.9%
387 (occupied) - 12 (NTV) + 14 (vacants preleased) + 2 (NTV preleased) = 391
391/412 (# of total units) = .9490 --> 94.9%
What is the average 1 bedroom unit size at your community with 3 one bedroom plans?
Plan A 24 units @ 645 sqft
Plan B 12 units @ 758 sqft
Plan C 36 units @ 952 sqft
a. 785 sqft
b. 792 sqft
c. 817 sqft
d. 809 sqft - ANS-C. 817 sqft
24*645=15480
12*758=9096
36*952=34272
TOTAL: 57848
THEN ADD THE TOTAL # OF UNITS
24+12+36=72
58484/72= $817.33
What is the average rent per sqft for these 4 properties in your monthly market survey?
Property A $1.46/sf
Property B $1.37/sf
