SAE - Property Management (Texas) Exam with 100% Correct Answers 2023

SAE - Property Management (Texas) Exam with 100% Correct Answers 2023 Which statement is correct? A. Property mgmt & real estate brokerage are the same thing B. All real estate brokers in Texas must allow sponsored agents to perform property mgmt activities *C. Some real estate brokers do not allow property mgmt activities by their sponsored agents D. Property mgmt is not considered a real estate brokerage activity in Texas In Texas, agents need to be __________ in order to show, lease or accept payment for soliciting space for property owners. Licensed A(n) ________ is a person who, for a fee, manages a property for someone else. Property manager The four phases of a business cycle are prosperity, recession, contraction, and ___________. Recovery Equilibrium is said to be reached if: There is high supply and high demand Which statement is correct? *A. Real estate cycles can take longer than the general economic cycle B. Real estate cycles and general economic cycles always move at exactly the same pace C. General economic cycles always take longer than real estate cycles D. No one can ever predict real estate or economic cycles __________ is every avenue a business pursues in order to reach out to the public to be seen. Marketing The ____________ is the physical location the product can be found. Place The __________ include: product, promotion, price, and place. The Four P's of Marketing Property management companies that operate under the __________ have dedicated property managers who are involved with every aspect of the properties they manage. Portfolio structure _________ are charged to each client to cover all of the services the property manager provides. Management fees Which of the following is true? A. It is better to be conservative on expenses and liberal on income B. Owners do not usually mind if the actual budget far exceeds the estimated budget C. The actual budget and the estimated budget almost always match exactly *D. When budgeting for owners, property managers need to be conservative on income and liberal on expenses The fiduciary duties a property manager owes to the owner are _________, loyalty, disclosure, confidentiality, accounting, and reasonable care. Obedience Which of the following should be included in a property management agreement? A. Policies and procedures for the repair of the property B. Duties and responsibilities of the property manger C. The management term *D. All of these Which statement regarding reserves is incor