Property Management Exam 2025
Questions and Answers 100% Pass
The administration of rental or other property by a person or a team of people who
are acting for the owner and receive compensation is known as the
________________________. - ✔✔Property management
T/F: A property manager's only responsibility is to the owner of the property. - ✔✔F
-- dual responsibility! Both owner and tenants.
A __________________________ lives on the property and may be employed by a
real estate broker, a managing agent or an owner to manage a property on a part-
time or full-time basis. - ✔✔Resident manager
How do the owner and the property manager arrive at a management fee? -
✔✔Negotiation; typically = base fee + % collected rent
A _____________________________ is a type of building development with a
designed grouping of varied and compatible land uses, such as housing, recreation,
commercial centers, and industrial parks, all within one contained development or
subdivision. - ✔✔PUD - planned unit development
What accounting skills are important for a property manager to have? - ✔✔GAAP
understanding & prepare/interpret monthly and yearly reports.
What is a "rent roll?" - ✔✔List of # of rental units in a property, length of each lease
(expiration date), and the monthly income for each unit.
What are the three types of budgets that should be established for each project? -
✔✔1. Operating
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
Questions and Answers 100% Pass
The administration of rental or other property by a person or a team of people who
are acting for the owner and receive compensation is known as the
________________________. - ✔✔Property management
T/F: A property manager's only responsibility is to the owner of the property. - ✔✔F
-- dual responsibility! Both owner and tenants.
A __________________________ lives on the property and may be employed by a
real estate broker, a managing agent or an owner to manage a property on a part-
time or full-time basis. - ✔✔Resident manager
How do the owner and the property manager arrive at a management fee? -
✔✔Negotiation; typically = base fee + % collected rent
A _____________________________ is a type of building development with a
designed grouping of varied and compatible land uses, such as housing, recreation,
commercial centers, and industrial parks, all within one contained development or
subdivision. - ✔✔PUD - planned unit development
What accounting skills are important for a property manager to have? - ✔✔GAAP
understanding & prepare/interpret monthly and yearly reports.
What is a "rent roll?" - ✔✔List of # of rental units in a property, length of each lease
(expiration date), and the monthly income for each unit.
What are the three types of budgets that should be established for each project? -
✔✔1. Operating
COPYRIGHT © 2025 BY SOPHIA BENNETT, ALL RIGHTS RESERVED 1
