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Exam (elaborations)

Real Estate: Property Management Exam Questions/Answers

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When a broker or property manager signs a contract to manage an owner's property he becomes a Correct Answer: Fiduciary In establishing a client's trust account, a property manager must do all of the following Correct Answer: -control the receipts and disbursements on the account -use pre-num...

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  • September 27, 2022
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  • 2022/2023
  • Exam (elaborations)
  • Questions & answers
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Real Estate: Property Management
Exam Questions/Answers
When a broker or property manager signs a contract to manage an owner's property
he becomes a Correct Answer: Fiduciary

In establishing a client's trust account, a property manager must do all of the
following Correct Answer: -control the receipts and disbursements on the account
-use pre-numbered checks for the account
-be an authorized signer on the account

An owner of real estate who engages a property manager to manage his property
must receive a copy of the signed property management agreement.... when?
Correct Answer: PROMPTLY

If a tenant's termination of tenancy occurs at the same time as the property
manager's termination of the applicable property management agreement... Correct
Answer: the property manager must complete a final accounting procedure
involving the tenant's security deposit unless the owner directs otherwise.

A licensed real estate property manager may authorize...?

I. another licensed property manager to supervise his property activity in his
absence
II. an unlicensed bookkeeper to supervise in his absence Correct Answer: I only

Oregon law requires that checks used to disburse funds deposited into a clients's
trust account be Correct Answer: pre-numbered

When evaluating the data in a neighborhood market survey, a residential property
manager will be most concerned with Correct Answer: trends in population
composition

Property managers are responsible for... Correct Answer: I. protecting the
condition of real estate
II. maximizing income from real property

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