Real Property Management Exam 1
UPDATED ACTUAL Exam Questions and
CORRECT Answers
The demand for professional property management around the end of the nineteenth century
resulted primarily from - CORRECT ANSWER - the invention of the high speed elevator
which of the following best defines real property? - CORRECT ANSWER - Land,
including its subsurface and airspace above and all improvements---Land from subsurface rights
(oil, gas, mineral) to air rights above plus all man made improvements (buildings, streets,
sewers) equals real property
The principle categories of commercial real estate are office property and - CORRECT
ANSWER - retail property
What organization awards the designation certified property manager (CPM)? - CORRECT
ANSWER - Institute of Real estate Management (IREM)
A major contributing factor to the decline of centralized commercial districts was the -
CORRECT ANSWER - Development of suburban areas
Along with knowledge, experience, and expertise, the property manager must have which of the
following personal characteristics. - CORRECT ANSWER - Honesty and Integrity
The professional property manager formulates plans to - CORRECT ANSWER - achieve
the objectives of the owner
The growth of shopping centers has been stimulated by - CORRECT ANSWER -
Population shifts to the suburbs
, Examples of special-purpose properties include - CORRECT ANSWER - Nursing homes
Incubator spaces are most likely to be found in - CORRECT ANSWER - research parks
Housing prices have greatly increased in some parts of the country. What are the consequences if
people cannot afford to buy their housing? - CORRECT ANSWER - greater demand for
rental property
In a marketing analysis, the specific foal of a property manager is to identify major economic
trends and the - CORRECT ANSWER - effect on the value of the specific property at the
manager's particular market level.
Which of the following is a major part of a neighborhood analysis? - CORRECT
ANSWER - Boundaries and land use
When there are more units available than tenants, it is referred to as - CORRECT
ANSWER - technical oversupply
The property manager has just taken over a new property, What is the point of reading all of the
leases? - CORRECT ANSWER - Identify the amount and durability of the rental income.
What is the final step when completing a management plan? - CORRECT ANSWER -
Identify and analyze the owner's goals
Movements of the general economy that usually are measured over 50 years or more are called -
CORRECT ANSWER - long term movements
In the operating budgets, what is the name of the expenditure that accounts for money for
replacement expenditures? - CORRECT ANSWER - Reserve funds
UPDATED ACTUAL Exam Questions and
CORRECT Answers
The demand for professional property management around the end of the nineteenth century
resulted primarily from - CORRECT ANSWER - the invention of the high speed elevator
which of the following best defines real property? - CORRECT ANSWER - Land,
including its subsurface and airspace above and all improvements---Land from subsurface rights
(oil, gas, mineral) to air rights above plus all man made improvements (buildings, streets,
sewers) equals real property
The principle categories of commercial real estate are office property and - CORRECT
ANSWER - retail property
What organization awards the designation certified property manager (CPM)? - CORRECT
ANSWER - Institute of Real estate Management (IREM)
A major contributing factor to the decline of centralized commercial districts was the -
CORRECT ANSWER - Development of suburban areas
Along with knowledge, experience, and expertise, the property manager must have which of the
following personal characteristics. - CORRECT ANSWER - Honesty and Integrity
The professional property manager formulates plans to - CORRECT ANSWER - achieve
the objectives of the owner
The growth of shopping centers has been stimulated by - CORRECT ANSWER -
Population shifts to the suburbs
, Examples of special-purpose properties include - CORRECT ANSWER - Nursing homes
Incubator spaces are most likely to be found in - CORRECT ANSWER - research parks
Housing prices have greatly increased in some parts of the country. What are the consequences if
people cannot afford to buy their housing? - CORRECT ANSWER - greater demand for
rental property
In a marketing analysis, the specific foal of a property manager is to identify major economic
trends and the - CORRECT ANSWER - effect on the value of the specific property at the
manager's particular market level.
Which of the following is a major part of a neighborhood analysis? - CORRECT
ANSWER - Boundaries and land use
When there are more units available than tenants, it is referred to as - CORRECT
ANSWER - technical oversupply
The property manager has just taken over a new property, What is the point of reading all of the
leases? - CORRECT ANSWER - Identify the amount and durability of the rental income.
What is the final step when completing a management plan? - CORRECT ANSWER -
Identify and analyze the owner's goals
Movements of the general economy that usually are measured over 50 years or more are called -
CORRECT ANSWER - long term movements
In the operating budgets, what is the name of the expenditure that accounts for money for
replacement expenditures? - CORRECT ANSWER - Reserve funds
