ACCREDITED RESIDENTIAL MANAGER - ARM
CERTIFICATION 2024 EXAM COMPLETE SOLUTIONS
ALREADY PASSED
1. AbsoluteanswerA chemical substance that has not
been mixed; pure.
2. Federal Housing AdministrationanswerPart of the
Department of Housing and Urban Development
(HUD) that sets policy for mortgage underwriting and
provides insurance for residential mortgages.
3. FHAanswerFederal Housing Administration
4. FLSAanswerFair Labor Standards Act of 2009
5. Gross AbsorptionanswerThe measure of total square
feet leased within a specific period of time.
6. Gross Potential Income (GPI)answerTotal income
possible of a property if 100% occupied and 100% of
rent collected.
7. Guest CardsanswerRecords all the prospect
information you need to lease to that prospect.
,ACCREDITED RESIDENTIAL MANAGER - ARM
CERTIFICATION 2024 EXAM COMPLETE SOLUTIONS
ALREADY PASSED
8. AbsorbtionanswerThe space that is "absorbed" by
residents from the available (not-leased) space.
9. Absorption RateanswerThe rate at which rent-able
space is filled.
10. AcceptanceanswerThe part of the rental process
where the lease is signed.
11. Accrual Based AccountinganswerA method of
accounting where amounts of income and expenses
are entered when they occur rather than when the
money moves.
12. Additional InsuredanswerA person, other than the
name of the insured, who is protected by the terms of
the policy.
13. Adverse Action LetteranswerA notice of rental
application denial or conditional approval that lists the
reasons and provides evidence as well as informing
applicants of their right to receive a copy of the
consumer report.
14. AmortizationanswerThe periodic payment of
principal and interest on a liability (including a
mortgage), or the write-off of a non-depreciable asset
over a scheduled term.
, ACCREDITED RESIDENTIAL MANAGER - ARM
CERTIFICATION 2024 EXAM COMPLETE SOLUTIONS
ALREADY PASSED
15. Annual Debt Service (ADS)answerPayments on
principle or interest of mortgage/loans each year.
16. Annual Debt ServiceanswerADS
17. AssetanswerAn economic resource expected to
produce benefits or increase value of property.
18. AutocraticanswerA style of management in which
decisions are imposed on subordinates; also known
as Theory X management,where managers believe
people dislike work and must be told what to do.
19. Avoiding/AvoidanceanswerIs a style of conflict
resolution in which a person withdraws from the issue
and/or side-steps the conflict.
20. Balloon MortgageanswerA short-term mortgage
with fixed installments of principal and interest that do
not fully amortize the loan. The balance of the
mortgage is due in a lump sum at the end of the term.
21. Before-Tax Cash Flow (BTCF)answerIllustrates
the owner's income, after Operating Expenses and
Debt Service has been subtracted.
22. Before-Tax Cash FlowanswerBTCF
CERTIFICATION 2024 EXAM COMPLETE SOLUTIONS
ALREADY PASSED
1. AbsoluteanswerA chemical substance that has not
been mixed; pure.
2. Federal Housing AdministrationanswerPart of the
Department of Housing and Urban Development
(HUD) that sets policy for mortgage underwriting and
provides insurance for residential mortgages.
3. FHAanswerFederal Housing Administration
4. FLSAanswerFair Labor Standards Act of 2009
5. Gross AbsorptionanswerThe measure of total square
feet leased within a specific period of time.
6. Gross Potential Income (GPI)answerTotal income
possible of a property if 100% occupied and 100% of
rent collected.
7. Guest CardsanswerRecords all the prospect
information you need to lease to that prospect.
,ACCREDITED RESIDENTIAL MANAGER - ARM
CERTIFICATION 2024 EXAM COMPLETE SOLUTIONS
ALREADY PASSED
8. AbsorbtionanswerThe space that is "absorbed" by
residents from the available (not-leased) space.
9. Absorption RateanswerThe rate at which rent-able
space is filled.
10. AcceptanceanswerThe part of the rental process
where the lease is signed.
11. Accrual Based AccountinganswerA method of
accounting where amounts of income and expenses
are entered when they occur rather than when the
money moves.
12. Additional InsuredanswerA person, other than the
name of the insured, who is protected by the terms of
the policy.
13. Adverse Action LetteranswerA notice of rental
application denial or conditional approval that lists the
reasons and provides evidence as well as informing
applicants of their right to receive a copy of the
consumer report.
14. AmortizationanswerThe periodic payment of
principal and interest on a liability (including a
mortgage), or the write-off of a non-depreciable asset
over a scheduled term.
, ACCREDITED RESIDENTIAL MANAGER - ARM
CERTIFICATION 2024 EXAM COMPLETE SOLUTIONS
ALREADY PASSED
15. Annual Debt Service (ADS)answerPayments on
principle or interest of mortgage/loans each year.
16. Annual Debt ServiceanswerADS
17. AssetanswerAn economic resource expected to
produce benefits or increase value of property.
18. AutocraticanswerA style of management in which
decisions are imposed on subordinates; also known
as Theory X management,where managers believe
people dislike work and must be told what to do.
19. Avoiding/AvoidanceanswerIs a style of conflict
resolution in which a person withdraws from the issue
and/or side-steps the conflict.
20. Balloon MortgageanswerA short-term mortgage
with fixed installments of principal and interest that do
not fully amortize the loan. The balance of the
mortgage is due in a lump sum at the end of the term.
21. Before-Tax Cash Flow (BTCF)answerIllustrates
the owner's income, after Operating Expenses and
Debt Service has been subtracted.
22. Before-Tax Cash FlowanswerBTCF
