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| Section | Objectives |
|---|---|
| Legal and Risk Management | |
| Building Operations and Maintenance | |
| Sustainability, Health, and Wellness | |
| Financial Management and Administration | |
| Leasing and Marketing | |
| Property Administration |
Question 1
A property manager is evaluating vendors, suppliers, and contractors to perform routine building maintenance operations. Which of the following is MOST important when choosing between competing proposals?
A. Develop a spreadsheet to compare proposals.
B. Retain current contractor if prices remain flat.
C. Consider prior work relationship.
D. Select lowest cost option.
Question 2
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. Reconfirm the vendor number.
B. Enter the invoice into a pending payable file.
C. Use petty cash.
D. Post vendor payments.
Question 3
An office building has closed following a hurricane. The building owner faces the risk of losing income until the building can reopen for normal operation. What type of loss exposure does this represent?
A. Indirect property loss
B. Tenant loss
C. Direct property loss
D. Liability loss
Question 4
An asset manager has requested the assistance of a property manager with financial analysis of a potential property acquisition. The asset manager wants to know the estimated annual net operating income (NOI) that the property will contribute to the portfolio. Which of the following reports isMOSThelpful for the asset manager?
A. Funds from operation (FFO)
B. Pro forma
C. Rent roll
D. Budget reconciliation
Question 5
Which of the following is required before a vendor invoice can be paid?
A. Property manager approval
B. Tenant satisfaction
C. Sufficient funds
D. Purchase order
Solutions:
| Question 1 Answer: A | Question 2 Answer: A | Question 3 Answer: A | Question 4 Answer: B | Question 5 Answer: A |
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