Property Management Exam Questions
WithCompleteSolutions(Guaranteed
Success)
The demand for professional property management that occurred in the late 1800's
resulted primarily from - correct answer...✔✔Reshaping the urban center by building
tall buildings with elevators
The traditional concentration of retail property in downtown areas became decentralized
as a result of - correct answer...✔✔Evolution of the suburban shopping center
The growth of shopping centers has been stimulated by - correct answer...✔✔
Population shifts to the suburbs
All of the following should be goals of the professional property manager EXCEPT -
correct answer...✔✔Maintain 100% occupancy
Which professional organization has the longest history? - correct answer...✔✔Building
Owners and Managers Association International (BOMA)
Incubator spaces are MOST likely to be found in: - correct answer...✔✔Research parks
What is an example of special-purpose property? - correct answer...✔✔Nursing home
Which type of real estate property utilizes more professional property managers? -
correct answer...✔✔Residential
The professional property manager formulates plans to - correct answer...✔✔Achieve
the objectives of the owner, Generate income to the owner, and increase the value of
the property
The construction of multifamily unit ownership housing has been stimulated by - correct
answer...✔✔Rising land and construction costs
Income-producing properties that offer services are known as - correct answer...✔✔
Office property and business parks
The ability of a property manager to assess a market and implement sales promotion is
MOST critical when dealing with - correct answer...✔✔Retail property
Ministorage, unlike many other types of industrial property, is: - correct answer...✔✔
Not designed to meet the needs of any particular industry
AGRADESOLUTIONS
,Areas that are predominately warehousing, light manufacturing, or assembly zones are
that are created under state statutes are called: - correct answer...✔✔Enterprise zones
What are classified as special-purpose property? - correct answer...✔✔Hotels, motels,
theaters, schools, and places of worship
Which of the following offers a combination of home ownership and site rental? - correct
answer...✔✔Manufactured home parks
Messenger services, taxi services, fax services, and shopping are all services
commonly offered by: - correct answer...✔✔Concierges
Asset managers often have the task of: - correct answer...✔✔Monitoring the financial
performances of a portfolio of properties
If a property owner asks a property manager to manage the property in violation of
current civil rights laws, the property manager should: - correct answer...✔✔Terminate
the management agreement
Ethical conduct refers to: - correct answer...✔✔Socially or culturally imposed imposed
rules of conduct that go above and beyond the letter of the law
A commercial property is generally considered to be a ________ _______________ - a
private entity that provides goods, services, facilities, or accommodations to the public -
correct answer...✔✔public accommodation
Office property is a type of ___________ __________ commercial property from which
a particular service is rendered - correct answer...✔✔income-producing
Retail property is a commercial property from which ______ _____ ______ - correct
answer...✔✔goods are sold
_____________ ___________ includes all land and facilities that convert raw materials
into finished products - correct answer...✔✔Industrial property
What characterizes the expansion phase in the business cycle? - correct answer...✔✔
production increases
At or just before the peak of the general business cycle, ______ ______ _________ -
correct answer...✔✔supply surpasses demand
Movements of the general economy that usually are measured over 50 years or more
are called - correct answer...✔✔Long-term movements
AGRADESOLUTIONS
, Cycles of the general business economy differ from those of the real estate market in
that the - correct answer...✔✔trends in real estate lag significantly behind trends in the
general economy
From an economic standpoint, the rental market as a segment of the economy .... -
correct answer...✔✔is generally poor during a contraction phase
In the operating budget, what is the name of the expenditure that accounts for money
for replacement expenditures? - correct answer...✔✔Reserve funds
When more space is available than potential tenants demand it indicates: - correct
answer...✔✔a technical oversupply
In the market analysis, the specific goal of the property manager is to identify major
economic trends and their: - correct answer...✔✔Effect on the value of a specific
property at the manager's particular market level
The objective in a market analysis is to - correct answer...✔✔determine the optimum
rental price for a standard space in the area
To avoid any surprises when taking over a new property, the manager should first -
correct answer...✔✔read all the leases
When evaluating the data in a neighborhood market survey, a residential property
manager will be most concerned with - correct answer...✔✔trends in population
demographics
Economic oversupply results when - correct answer...✔✔tenants cannot afford the
rents
What should the manager do if the building is 100% occupied? - correct answer...✔✔
Consider raising the rents
Prospective tenants form their initial impression of a rental property based on the -
correct answer...✔✔curb appeal of the property
After inspecting and analyzing the comparables, a property manager should be able to
estimate the routine operating costs for the subject property and - correct answer...✔✔
provide the owner with an estimate of the capital expenditures required to make the
property competitive with similar properties
A good management plan is based on - correct answer...✔✔an operating budget for
one year
AGRADESOLUTIONS
WithCompleteSolutions(Guaranteed
Success)
The demand for professional property management that occurred in the late 1800's
resulted primarily from - correct answer...✔✔Reshaping the urban center by building
tall buildings with elevators
The traditional concentration of retail property in downtown areas became decentralized
as a result of - correct answer...✔✔Evolution of the suburban shopping center
The growth of shopping centers has been stimulated by - correct answer...✔✔
Population shifts to the suburbs
All of the following should be goals of the professional property manager EXCEPT -
correct answer...✔✔Maintain 100% occupancy
Which professional organization has the longest history? - correct answer...✔✔Building
Owners and Managers Association International (BOMA)
Incubator spaces are MOST likely to be found in: - correct answer...✔✔Research parks
What is an example of special-purpose property? - correct answer...✔✔Nursing home
Which type of real estate property utilizes more professional property managers? -
correct answer...✔✔Residential
The professional property manager formulates plans to - correct answer...✔✔Achieve
the objectives of the owner, Generate income to the owner, and increase the value of
the property
The construction of multifamily unit ownership housing has been stimulated by - correct
answer...✔✔Rising land and construction costs
Income-producing properties that offer services are known as - correct answer...✔✔
Office property and business parks
The ability of a property manager to assess a market and implement sales promotion is
MOST critical when dealing with - correct answer...✔✔Retail property
Ministorage, unlike many other types of industrial property, is: - correct answer...✔✔
Not designed to meet the needs of any particular industry
AGRADESOLUTIONS
,Areas that are predominately warehousing, light manufacturing, or assembly zones are
that are created under state statutes are called: - correct answer...✔✔Enterprise zones
What are classified as special-purpose property? - correct answer...✔✔Hotels, motels,
theaters, schools, and places of worship
Which of the following offers a combination of home ownership and site rental? - correct
answer...✔✔Manufactured home parks
Messenger services, taxi services, fax services, and shopping are all services
commonly offered by: - correct answer...✔✔Concierges
Asset managers often have the task of: - correct answer...✔✔Monitoring the financial
performances of a portfolio of properties
If a property owner asks a property manager to manage the property in violation of
current civil rights laws, the property manager should: - correct answer...✔✔Terminate
the management agreement
Ethical conduct refers to: - correct answer...✔✔Socially or culturally imposed imposed
rules of conduct that go above and beyond the letter of the law
A commercial property is generally considered to be a ________ _______________ - a
private entity that provides goods, services, facilities, or accommodations to the public -
correct answer...✔✔public accommodation
Office property is a type of ___________ __________ commercial property from which
a particular service is rendered - correct answer...✔✔income-producing
Retail property is a commercial property from which ______ _____ ______ - correct
answer...✔✔goods are sold
_____________ ___________ includes all land and facilities that convert raw materials
into finished products - correct answer...✔✔Industrial property
What characterizes the expansion phase in the business cycle? - correct answer...✔✔
production increases
At or just before the peak of the general business cycle, ______ ______ _________ -
correct answer...✔✔supply surpasses demand
Movements of the general economy that usually are measured over 50 years or more
are called - correct answer...✔✔Long-term movements
AGRADESOLUTIONS
, Cycles of the general business economy differ from those of the real estate market in
that the - correct answer...✔✔trends in real estate lag significantly behind trends in the
general economy
From an economic standpoint, the rental market as a segment of the economy .... -
correct answer...✔✔is generally poor during a contraction phase
In the operating budget, what is the name of the expenditure that accounts for money
for replacement expenditures? - correct answer...✔✔Reserve funds
When more space is available than potential tenants demand it indicates: - correct
answer...✔✔a technical oversupply
In the market analysis, the specific goal of the property manager is to identify major
economic trends and their: - correct answer...✔✔Effect on the value of a specific
property at the manager's particular market level
The objective in a market analysis is to - correct answer...✔✔determine the optimum
rental price for a standard space in the area
To avoid any surprises when taking over a new property, the manager should first -
correct answer...✔✔read all the leases
When evaluating the data in a neighborhood market survey, a residential property
manager will be most concerned with - correct answer...✔✔trends in population
demographics
Economic oversupply results when - correct answer...✔✔tenants cannot afford the
rents
What should the manager do if the building is 100% occupied? - correct answer...✔✔
Consider raising the rents
Prospective tenants form their initial impression of a rental property based on the -
correct answer...✔✔curb appeal of the property
After inspecting and analyzing the comparables, a property manager should be able to
estimate the routine operating costs for the subject property and - correct answer...✔✔
provide the owner with an estimate of the capital expenditures required to make the
property competitive with similar properties
A good management plan is based on - correct answer...✔✔an operating budget for
one year
AGRADESOLUTIONS
