PROPERTY MANAGEMENT MOCK EXAM #4| COMPLETE
QUESTIONS WITH 100% RATED EXPERT SOLUTIONS |2026 LATEST
UPDATED
The demand for professional property management around the end of the nineteenth century
resulted primarily from - (answer)the invention of the high-speed elevator---Also steel framed
buildings, development of suburban areas and investment opportunities.
What organization awards the designation Certified Property Manager (CPM)? -
(answer)Institute of Real Estate Management (IREM)---IREM offers opportunities for property
managers to share ideas and programs to instruct those coming into the business. They are an
affiliate group of NAR
Which of the following BEST defines real property? - (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
Two principal categories of commercial real estate are office property and - (answer)retail
property---Both are income producing properties. Warehouse properties would be part of
industrial.
,A major contributing factor to the decline of centralized commercial districts was the -
(answer)development of suburban areas.---With the expansion of transportation the population
shifted to the suburbs. As a result suburban shopping centers were built away from the city.
Along with knowledge, experience, and expertise, the property manager must have which of the
following personal characteristics? - (answer)Honesty and integrity---Honesty and integrity to do
the right thing
Housing prices have greatly increased in some parts of the country. What are the consequences if
people cannot afford to buy their housing? - (answer)Greater demand for rental properties---This
would cause many to not qualify for financing creating the need to rent.
In a marketing analysis, the specific goal of a property manager is to identify major economic
trends and the - (answer)effect on the value of the specific property at the manager's particular
market level---A market analysis incorporates information about the region and local area where
the property is located.
Which of the following is a major part of a neighborhood analysis? - (answer)Boundaries and
land use---Also included would be building codes, transportation, utilities, economy, supply and
demand, amenities and facilities
, When there are more units available than tenants, it is referred to as - (answer)technical
oversupply---Available rent space exceeds tenant demand.
The property manager has just taken over a new property. What is the point of reading all of the
leases? - (answer)Identify the amount and durability of the rental income---The manager would
figure how sustainable the rental income would be.
What is the final step when completing a management plan? - (answer)Identify and analyze the
owner's goals---The manager would analyze the data and verify if it will support the owner's
goals.
What type of relationship do colleges, large corporations, and private institutions that require the
services of a property manager for their properties prefer? - (answer)Employer-employee
relationship---These special purpose properties would hire an internal person with the expertise
in their specific field.
The fact that a property manager must put the owner's interest above the property manager's own
and act without self-interest is best expressed in which of the following fiduciary duties? -
(answer)Loyalty---The manager is hired to represent the clients interest not their own.
QUESTIONS WITH 100% RATED EXPERT SOLUTIONS |2026 LATEST
UPDATED
The demand for professional property management around the end of the nineteenth century
resulted primarily from - (answer)the invention of the high-speed elevator---Also steel framed
buildings, development of suburban areas and investment opportunities.
What organization awards the designation Certified Property Manager (CPM)? -
(answer)Institute of Real Estate Management (IREM)---IREM offers opportunities for property
managers to share ideas and programs to instruct those coming into the business. They are an
affiliate group of NAR
Which of the following BEST defines real property? - (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
Two principal categories of commercial real estate are office property and - (answer)retail
property---Both are income producing properties. Warehouse properties would be part of
industrial.
,A major contributing factor to the decline of centralized commercial districts was the -
(answer)development of suburban areas.---With the expansion of transportation the population
shifted to the suburbs. As a result suburban shopping centers were built away from the city.
Along with knowledge, experience, and expertise, the property manager must have which of the
following personal characteristics? - (answer)Honesty and integrity---Honesty and integrity to do
the right thing
Housing prices have greatly increased in some parts of the country. What are the consequences if
people cannot afford to buy their housing? - (answer)Greater demand for rental properties---This
would cause many to not qualify for financing creating the need to rent.
In a marketing analysis, the specific goal of a property manager is to identify major economic
trends and the - (answer)effect on the value of the specific property at the manager's particular
market level---A market analysis incorporates information about the region and local area where
the property is located.
Which of the following is a major part of a neighborhood analysis? - (answer)Boundaries and
land use---Also included would be building codes, transportation, utilities, economy, supply and
demand, amenities and facilities
, When there are more units available than tenants, it is referred to as - (answer)technical
oversupply---Available rent space exceeds tenant demand.
The property manager has just taken over a new property. What is the point of reading all of the
leases? - (answer)Identify the amount and durability of the rental income---The manager would
figure how sustainable the rental income would be.
What is the final step when completing a management plan? - (answer)Identify and analyze the
owner's goals---The manager would analyze the data and verify if it will support the owner's
goals.
What type of relationship do colleges, large corporations, and private institutions that require the
services of a property manager for their properties prefer? - (answer)Employer-employee
relationship---These special purpose properties would hire an internal person with the expertise
in their specific field.
The fact that a property manager must put the owner's interest above the property manager's own
and act without self-interest is best expressed in which of the following fiduciary duties? -
(answer)Loyalty---The manager is hired to represent the clients interest not their own.
