SC PROPERTY MANAGEMENT COMPREHENSIVE EXAMS
2025/2026 QUESTIONS WITH ANSWERS RATED A+
✔✔Market-Oriented Industries - ✔✔Sell to private or industrial consumers Industries of
this type rely on large Consumer population & are sensitive to growth trends or shifts in
the market place .
✔✔Functional Obsolesence - ✔✔Technological Changes make heavy uk specialized
industrial facilities susceptible to rapid_________________. This threat increases the
owners Investment risk & requires Careful planning to minimize the chances of
Structural or ___________________ of building or its tenants
✔✔Dominant Portion - ✔✔The inside finished surface of the permament outer building
wall which must be 50 % or more of the vertical -floor - to ceiling dimension . If there is
no dominant portion or it is not vertical , the measurement for area is inside Finished
surface of the permament outer building wall where it intersects the finished floor. Any
major vertical penetrations of the floor , such as Utility Shafts stairwells , & elevators are
excluded
✔✔Absorption Rate - ✔✔The number of square feet that have historically been leased
in the market area
✔✔Foreign Trade Zones (FTZ) - ✔✔Allows a company to import finished goals or
component parts & to warehouse them duty free until shipped .
✔✔Maintenance & Security of Industrial Security Of Industrial Property - ✔✔Often the
only maintenance tasks of the PM involve the upkeep of the grounds & the buildings
exterior
✔✔Fidelity Reports - ✔✔As a rule the PMS employees who handle finds has to be
covered by this bond , obtained at the managers expense is insurance protection in that
it pays it named individuals commit theft of money property
✔✔Condominium Statutes - ✔✔Similar to cooperative laws, are less demanding
because each owner holds fee Simple title to a unit, failure by one unit Owner to pay
mortgage does not endanger the financing of the entire project as it might w / a
cooperative project . It is , for this reason that this ownership is so populair
✔✔Monthly Reports & Disbursements - ✔✔The contract Should Clarify how to deal with
a month in which disbursement exceed receipts. Under some contracts the manager is
authorized to hold a certain sum Of money in reserve to meet expenses that may come
due between the time disbursements & the time the next monthly rental income flow
begins. the Amount of this reserve fund should be Proportional to the size of the
property Agents should not generally advance their own funds to cover a deficiency
, ✔✔Management Plan - ✔✔Although low - income housing is managed in much the
same way as other types of OF housing , the larger dwelling units & greater population
destiny, typical characteristics of public housing, crewte heavy use and significantly
higher maintenance costs. Tenant turnover , vacany rates , rent loss, and collection cost
are higher
✔✔Tenant Management Participation & Ownership - ✔✔Experience shows that
professional management is still required even in Buildings Owned by tenants
✔✔Need for Professional Property Manager - ✔✔All subdized public housing
developments , of whatever type , have a common need for ongoing Competent
management . Since its inception , low- Income public housing has suffered from both
inadequate property management and bureaucratic mismanagement Effective Jan. 31 ,
2010 all public & private affordable housing owners must use HUDS Enterprise Income
verification (EVI) system. EVI provides data from TRANS & both the SS administration
of the health & human services new hire database to ensure that resident are making a
full & adequate disclosure of household income to Landlord to reduce waste and fraud
of HUF funding. This will allow more households to take advantage of available federal
programs.
✔✔Antitrust Issues - ✔✔All fee structures must be negotiated b / w the Owner & the
manager & terms Should be kept b/w the two negotiating parties . Fees must not be
discussed w/ other competing property managent firms . If members of the property
management profession try to impose uniform rates , they will violate state & federal
laws . PMs should always be able to represent that the fees set by their firms have been
established independently and must avoid any discussion w / competing firms that may
even hint at collusion . Penalties include fines, imprisonment or both
✔✔Staffing the Management Office - ✔✔The must basic qualification for an employee in
the field of property management is versatility b / C few management organization are
large enough to support a staff of specialists
✔✔Tax Reform Act of 1986 - ✔✔This was added because owners were Using property
management as tax breaks but weren't actually working . To qualify for this you must
actually work in the field property management to get the write offs .
✔✔Estimate Conservatively - ✔✔When preparing a budget forecast, the manager
should use present rental rates For the estimates, rather than anticipated increases in
revenue
✔✔Property Supervisor (Field Manager) - ✔✔Takes care of the general administration
directs the daily operation of thr properry and reports to the Property Management
Executive. Depending on variables such as condition of the property, problems ,
distance from the management office & # of properties , one person can efficiently
2025/2026 QUESTIONS WITH ANSWERS RATED A+
✔✔Market-Oriented Industries - ✔✔Sell to private or industrial consumers Industries of
this type rely on large Consumer population & are sensitive to growth trends or shifts in
the market place .
✔✔Functional Obsolesence - ✔✔Technological Changes make heavy uk specialized
industrial facilities susceptible to rapid_________________. This threat increases the
owners Investment risk & requires Careful planning to minimize the chances of
Structural or ___________________ of building or its tenants
✔✔Dominant Portion - ✔✔The inside finished surface of the permament outer building
wall which must be 50 % or more of the vertical -floor - to ceiling dimension . If there is
no dominant portion or it is not vertical , the measurement for area is inside Finished
surface of the permament outer building wall where it intersects the finished floor. Any
major vertical penetrations of the floor , such as Utility Shafts stairwells , & elevators are
excluded
✔✔Absorption Rate - ✔✔The number of square feet that have historically been leased
in the market area
✔✔Foreign Trade Zones (FTZ) - ✔✔Allows a company to import finished goals or
component parts & to warehouse them duty free until shipped .
✔✔Maintenance & Security of Industrial Security Of Industrial Property - ✔✔Often the
only maintenance tasks of the PM involve the upkeep of the grounds & the buildings
exterior
✔✔Fidelity Reports - ✔✔As a rule the PMS employees who handle finds has to be
covered by this bond , obtained at the managers expense is insurance protection in that
it pays it named individuals commit theft of money property
✔✔Condominium Statutes - ✔✔Similar to cooperative laws, are less demanding
because each owner holds fee Simple title to a unit, failure by one unit Owner to pay
mortgage does not endanger the financing of the entire project as it might w / a
cooperative project . It is , for this reason that this ownership is so populair
✔✔Monthly Reports & Disbursements - ✔✔The contract Should Clarify how to deal with
a month in which disbursement exceed receipts. Under some contracts the manager is
authorized to hold a certain sum Of money in reserve to meet expenses that may come
due between the time disbursements & the time the next monthly rental income flow
begins. the Amount of this reserve fund should be Proportional to the size of the
property Agents should not generally advance their own funds to cover a deficiency
, ✔✔Management Plan - ✔✔Although low - income housing is managed in much the
same way as other types of OF housing , the larger dwelling units & greater population
destiny, typical characteristics of public housing, crewte heavy use and significantly
higher maintenance costs. Tenant turnover , vacany rates , rent loss, and collection cost
are higher
✔✔Tenant Management Participation & Ownership - ✔✔Experience shows that
professional management is still required even in Buildings Owned by tenants
✔✔Need for Professional Property Manager - ✔✔All subdized public housing
developments , of whatever type , have a common need for ongoing Competent
management . Since its inception , low- Income public housing has suffered from both
inadequate property management and bureaucratic mismanagement Effective Jan. 31 ,
2010 all public & private affordable housing owners must use HUDS Enterprise Income
verification (EVI) system. EVI provides data from TRANS & both the SS administration
of the health & human services new hire database to ensure that resident are making a
full & adequate disclosure of household income to Landlord to reduce waste and fraud
of HUF funding. This will allow more households to take advantage of available federal
programs.
✔✔Antitrust Issues - ✔✔All fee structures must be negotiated b / w the Owner & the
manager & terms Should be kept b/w the two negotiating parties . Fees must not be
discussed w/ other competing property managent firms . If members of the property
management profession try to impose uniform rates , they will violate state & federal
laws . PMs should always be able to represent that the fees set by their firms have been
established independently and must avoid any discussion w / competing firms that may
even hint at collusion . Penalties include fines, imprisonment or both
✔✔Staffing the Management Office - ✔✔The must basic qualification for an employee in
the field of property management is versatility b / C few management organization are
large enough to support a staff of specialists
✔✔Tax Reform Act of 1986 - ✔✔This was added because owners were Using property
management as tax breaks but weren't actually working . To qualify for this you must
actually work in the field property management to get the write offs .
✔✔Estimate Conservatively - ✔✔When preparing a budget forecast, the manager
should use present rental rates For the estimates, rather than anticipated increases in
revenue
✔✔Property Supervisor (Field Manager) - ✔✔Takes care of the general administration
directs the daily operation of thr properry and reports to the Property Management
Executive. Depending on variables such as condition of the property, problems ,
distance from the management office & # of properties , one person can efficiently
