CERTIFIED PROPERTY MANAGER EXAM
PREP COMPLETE QUESTIONS AND
ANSWERS TESTED PRACTICE RESOURCE
●● Management Agreement
Answer: A contract between the owner of a property and someone who
agrees to manage it.
Should contain:
Description of property
Length of agreement
Management Authority
Reporting
Management feed (3-20% of rent roll)
Accounting responsibilities
●● Property Manager
Answer: An individual or company responsible for the day-to-day
functioning of a piece of real estate.
●● Resident Manager
Answer: A manager of a property who lives on-site.
, ●● Management Agreement
Answer: A contract between the owner of a property and someone who
agrees to manage it.
●● Property Management Report
Answer: An accounting report issued periodically by the property
manager to the owner outlining all income and expenditures for that
accounting period.
●● IREM
Answer: Institute of Real Estate Management
CPM -
●● Anchor Stores
Answer: A key tenant in retail. Typically one of the larger stores in a
shopping mall, usually a department store or a major retail chain
(Macys, Nordstrom, etc.).
●● Capital Expense (CAPEX)
Answer: Expenditures creating future value. Incurred when a property
owner spends money to upgrade a building in an effort to add value
and/or extend the useful life of the building.
●● Capital Reserve Budget
PREP COMPLETE QUESTIONS AND
ANSWERS TESTED PRACTICE RESOURCE
●● Management Agreement
Answer: A contract between the owner of a property and someone who
agrees to manage it.
Should contain:
Description of property
Length of agreement
Management Authority
Reporting
Management feed (3-20% of rent roll)
Accounting responsibilities
●● Property Manager
Answer: An individual or company responsible for the day-to-day
functioning of a piece of real estate.
●● Resident Manager
Answer: A manager of a property who lives on-site.
, ●● Management Agreement
Answer: A contract between the owner of a property and someone who
agrees to manage it.
●● Property Management Report
Answer: An accounting report issued periodically by the property
manager to the owner outlining all income and expenditures for that
accounting period.
●● IREM
Answer: Institute of Real Estate Management
CPM -
●● Anchor Stores
Answer: A key tenant in retail. Typically one of the larger stores in a
shopping mall, usually a department store or a major retail chain
(Macys, Nordstrom, etc.).
●● Capital Expense (CAPEX)
Answer: Expenditures creating future value. Incurred when a property
owner spends money to upgrade a building in an effort to add value
and/or extend the useful life of the building.
●● Capital Reserve Budget
