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| Section | Weight | Objectives |
|---|---|---|
| Property Financial Analysis & Performance | 35% | - Financial statement review and interpretation
|
| Operations & Maintenance Strategy | 20% | - Risk management and compliance
|
| Strategic Decision Making & Leadership | 20% | - Stakeholder management and reporting
|
| Lease Administration & Tenant Relations | 25% | - Tenant communication and conflict resolution
|
1. A property management team was just hired to manage a property on behalf of a new client. After the team gathers data, such as long-term capital goals, leasing goals, and ownership goals, what is the BEST course of action to proceed?
Options:
A) Summarize information to property management team.
B) Summarize in a certified letter with read receipt.
C) Summarize information to property management leadership.
D) Summarize in a memo to ownership.
2. A property manager is overseeing a tenant improvement project in an older office building. Asbestos insulation was discovered behind the walls. Which type of project change BEST describes this delay?
A) Constructive
B) Accelerated
C) Disruptive
D) Actual
3. The risk management process is designed to prevent a loss from occurring or to minimize the consequences of a loss after an incident has occurred.
Which of the following are the threePRIMARYclassifications of loss exposures?
A) Capital losses, operating losses and liability losses
B) Contract losses, personnel losses and force majeure losses
C) Insurance losses, lien losses and title losses
D) Liability losses, personnel losses and property losses
4. As part of the due diligence process for an office building acquisition, an investment firm wants to incorporate information regarding tenant lease terms, rental payments, square footage, and monthly payment due dates into its pro forma analysis. Which type of report wouldBESTsummarize this information for the purchaser?
A) Vacancy report
B) Balance sheet
C) Income statement
D) Roll-up report
5. An unexpected elevator repair charge was incurred. Due to the unanticipated change in the budget, the information needed to be written directly on the invoice, but it was coded incorrectly. What step in the process isESSENTIALto ensuring that the correct vendor is paid?
A) Enter the invoice into a pending payable file.
B) Use petty cash.
C) Post vendor payments.
D) Reconfirm the vendor number.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: D |
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