Real Estate: Property Management Exam Questions/Answers Latest Version Already Graded A

Real Estate: Property Management Exam Questions/Answers Latest Version Already Graded A When a broker or property manager signs a contract to manage an owner's property he becomes a Fiduciary In establishing a client's trust account, a property manager must do all of the following - control the receipts and disbursements on the account -use pre-numbered checks for the account -be an authorized signer on the account An owner of real estate who engages a property manager to manage his property must receive a copy of the signed property management agreement.... when? PROMPTLY If a tenant's termination of tenancy occurs at the same time as the property manager's termination of the applicable property management agreement... the property manager must complete a final accounting procedure involving the tenant's security deposit unless the owner directs otherwise. A licensed real estate property manager may authorize...? I. another licensed property manager to supervise his property activity in his absence II. an unlicensed bookkeeper to supervise in his absence I only Oregon law requires that checks used to disburse funds deposited into a clients's trust account be pre-numbered When evaluating the data in a neighborhood market survey, a residential property manager will be most concerned with trends in population composition Property managers are responsible for... I. protecting the condition of real estate II. maximizing income from real property A person licensed as a real estate property manager may accept a finder's fee from a principal real estate broker for activity involving the rental of real property A property manager should be aware of the break-even point to any buildings he manages. The BREAK-EVEN Point is: The occupancy level at which gross income for a property equals total fixed and variable operating costs Which of the following statements concerning property management accounting are TRUE? a. Posting to the owner's ledger account must be done at least once every three months b. Reports to the owner must be given only upon request by the owner c. Property managers may transfer funds between owners' accounts of two or more different owners with written authorization by the