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Certified Professional Property CH 15 Questions And Answers With Verified Solutions Already Passed!!!
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Certified Professional Property CH 15 Questions And Answers With Verified Solutions Already Passed!!!

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  • November 20, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • certified professional property ch 15 questions an
  • the institute of real estate management irem cer
  • state law requires a resident manager for property
  • in addition to the property managers dual role of

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  • Certified Professional Property Specialist
  • Certified Professional Property Specialist

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Certified Professional Property CH 15
Questions And Answers With Verified
Solutions Already Passed!!!
The Institute of Real Estate Management (IREM) certifies individual managers as
(A)Licensed Property Mangers (LPM).
(B)Professional Property Managers (PPM).
(C)Certified Property Managers (CPM).
(D)Certified Apartment Managers (CAM). - ANSWER✔✔ (C) is correct.
In 1933, the IREM developed the designation Certified Property Manager (CPM)
to certify individual managers.

State law requires a resident manager for property containing
(A)16 or more units.
(B)10 or more units.
(C)5 or more units.
(D)2 or more units. - ANSWER✔✔ (A): State law requires a resident manager for
property containing 16 or more units.

In addition to the property manager's dual role of an administrator for the owner
and an advocate for the resident, the California Department of Real Estate requires
a property manager to
(A)maintain proper records and make regular reports to the owner.
(B)supervise employees.
(C)create and supervise maintenance schedules and repairs.
(D)all of the above. - ANSWER✔✔ (D) is correct.
In addition to the general responsibilities of the property manager, the Department
of Real Estate also lists specific duties.

The amount of rent paid after deducting negotiated concessions such as one
month's free rent is called
(A)scheduled rent.
(B)effective rent.
(C)nominal rent.
(D)net rent. - ANSWER✔✔ (B): The effective rent is the amount of rent after
deduction negotiated concessions such as one month's free rent.

, To make certain that rent increases are not in violation of the law, residential
property managers should be familiar with
(A)CC&Rs
(B)neighborhood rental rates.
(C)rent control ordinances.
(D)national rental standards. - ANSWER✔✔ (C) is correct.
Residential property managers should be familiar with local rent control
ordinances to make certain that rents and/or rent increases charged are not in
violation of the law.

How would the duties of a condominium property manager differ from those of a
residential property manager?
(A)Condominium property managers don't make policy.
(B)Condominium managers carry out policies as directed by the board of directors.
(C)Condominium managers must face the politics of the homeowner's association.
(D)All of the above. - ANSWER✔✔ (D): In a condominium association, the
property manager doesn't make policy; he or she merely carries out policy as
directed by the board of directors. A condominium property manager must also
deal with the personalities and politics of the homeowner's association members.

Among the responsibilities of the manager of an office building is,
(A)merchandising office space.
(B)maintenance.
(C)protection of the premises.
(D)all of the above. - ANSWER✔✔ (D): The manager of an office building must
handle all of the choices in this question.

An effective security plan applies to
(A)tenants.
(B)employees.
(C)guests.
(D)all of the above. - ANSWER✔✔ (D) is correct.
Security applies to personal security of tenants, employees, and guests as well as
security for the lessee's property.

The fees charged for property management are usually
(A)A flat fee and a percentage of gross rents
(B)A percentage of net rent
(C)Flat fee plus expenses

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