CAM Financial Management Test Questions Fully Answered.

What are 6 ways to generate and collect income? - Answer 1. Rent 2. Parking 3. Cable, internet 4. Clubhouse rental 5. Fees: late, pet 6. Laundry/Vending What are 6 controllable expenses? - Answer 1. Salaries personnel 2. Insurance 3. Utilities 4. Taxes 5. Advertising 6. Maintenance What 3 questions should you ask when performing a financial analysis? - Answer 1. How well has a property performed over a specific time period. 2. Where does a property stand at a given date in time. 3. How will the property perform in the future. What 3 things factor into analyzing income? - Answer 1. Gross potential rent (GPR) 2. Gross potential income (GPI) 3. Income statement Explain what gross potential rent (GPR) is. - Answer It is rent that would be collected if the property is 100% occupied and all residents were paying market rent.