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IREM MNT 402 Exam Questions With Correct
Answers 100% Verified.
Care or upkeep of a property and all its components - Answer✔Maintenance
Process of controlling or reducing risk to acceptable levels - Answer✔Risk management
The control of _______ affects the owner's bottom line more than any other operating expense
- Answer✔Maintenance Costs
First step of the maintenance and risk management cycle. Produces the property information
report and initial inspection results - Answer✔Assess
Contains detailed information about a property that gives an overall picture of a property and
its history - Answer✔Property information report
Steps to Maintenance and Risk Management Process - Answer✔Assess —> Plan —> Execute —
> Evaluate
The _____ is the guide that provides the tasks and steps needed to implement the maintenance
and risk management program for the property - Answer✔Maintenance & Risk Management
Policy and Procedure Manual
Incurred during the normal course of running a business, such as the electric Bill or payroll -
Answer✔Operating expenses
A ______ expense is made to acquire a long-term asset—one that is considered to add value to
an asset and contribute to its long-term profitability - Answer✔Capital
New building construction costs and/or major improvements or alterations to a building are
considered _________ - Answer✔Capital expenses
Whenever a capital improvement is made, __________, monitored and adjusted throughout its
life cycle - Answer✔a plan for its replacement should be made
1
IREM MNT 402 Exam Questions With Correct
Answers 100% Verified.
Care or upkeep of a property and all its components - Answer✔Maintenance
Process of controlling or reducing risk to acceptable levels - Answer✔Risk management
The control of _______ affects the owner's bottom line more than any other operating expense
- Answer✔Maintenance Costs
First step of the maintenance and risk management cycle. Produces the property information
report and initial inspection results - Answer✔Assess
Contains detailed information about a property that gives an overall picture of a property and
its history - Answer✔Property information report
Steps to Maintenance and Risk Management Process - Answer✔Assess —> Plan —> Execute —
> Evaluate
The _____ is the guide that provides the tasks and steps needed to implement the maintenance
and risk management program for the property - Answer✔Maintenance & Risk Management
Policy and Procedure Manual
Incurred during the normal course of running a business, such as the electric Bill or payroll -
Answer✔Operating expenses
A ______ expense is made to acquire a long-term asset—one that is considered to add value to
an asset and contribute to its long-term profitability - Answer✔Capital
New building construction costs and/or major improvements or alterations to a building are
considered _________ - Answer✔Capital expenses
Whenever a capital improvement is made, __________, monitored and adjusted throughout its
life cycle - Answer✔a plan for its replacement should be made
1
