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Ccrm Exam 2024 California Apartment Association Exam Questions And

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CCRM ( CALIFORNIA CERTIFIED RESIDENTIAL MANAGER) QUESTIONS AND ANSWERS California law requirements - CORRECT ANSWERevery rental housing community with 16 units or more to have an employee or owner residing on site .

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CCRM EXAM 2024 CALIFORNIA APARTMENT ASSOCIATION EXAM
QUESTIONS AND ANSWERS
NOI - CORRECT ANSWER✅✅✅net operating income



What is the CAP rate defined as? - CORRECT ANSWER✅✅✅Ratio of the NOI to the Property value



CAP rate is always expressed as what numerical value? - CORRECT ANSWER✅✅✅Percent



The total number of units, multiplied by the market rental rate of each unit, multiplied by 12 equals
what? - CORRECT ANSWER✅✅✅The annual "Gross Potential Rent"



What is ancillary income? - CORRECT ANSWER✅✅✅Any income that is not rent or security deposits



Do concessions have to apply to first month's rent? - CORRECT ANSWER✅✅✅NO



Are RUB's illigal in California - CORRECT ANSWER✅✅✅NO



How do you calculate cost per sq. foot? - CORRECT ANSWER✅✅✅Total rent divided by total sq. foot



ALL buildings built prior to what year are considered to have lead based paint? - CORRECT
ANSWER✅✅✅1978



True or False: Effective July 2018, all new rental agreements in California must provide notice about
Flood Hazards - CORRECT ANSWER✅✅✅true!



a chart of accounts is used for what? - CORRECT ANSWER✅✅✅A coding system for payments



What is the only charge applicable to a 3 day rent? - CORRECT ANSWER✅✅✅Delinquent rent

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