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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Operations & Maintenance Strategy | 20% | - Risk management and compliance
|
| Topic 2: Strategic Decision Making & Leadership | 20% | - Portfolio optimization and improvement planning
|
| Topic 3: Lease Administration & Tenant Relations | 25% | - Lease document interpretation and compliance
|
| Topic 4: Property Financial Analysis & Performance | 35% | - Asset valuation and market analysis
|
Question 1
The results from a real estate company's annual employee satisfaction survey suggest that workers are dissatisfied with organizational culture, performance recognition, and management's approach to communication. Management is considering strategies to solicit employee input by holding meetings with no agenda, no directive leadership patterns, and no power or status positions. Which of the following organizational development (OD) strategiesMOSTclosely aligns with these guidelines?
A. Grid training
B. Workforce development training
C. Sensitivity training
D. Behavior modeling
Question 2
The manager of a Class B commercial office building has decided to create a plan to evaluate heating, ventilating, and air-conditioning (HVAC) system operations and performance. What is theMOST comprehensive approach to accomplish this goal?
A. Advise the building owner that an outside energy consultant must be hired to evaluate building envelope efficiency.
B. Create a high-level preventive maintenance plan that lists challenges to efficient system operations.
C. Write a memo to building occupants outlining strategies for energy efficiency.
D. Conduct a site tour of all mechanical rooms to identify aging equipment that can be replaced.
Question 3
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 4
A property manager who previously used an in-house staffing model for cleaning services has decided to contract with a vendor due to fluctuating seasonal occupancy. What is the BEST solution to negotiate cleaning services of a building with fluctuating occupants?
Options:
A. Research market wages.
B. Calculate cost of supplies.
C. Determine credit allocations.
D. Determine scope of work.
Question 5
Which of the following options MOST accurately describes industry best practices for maintenance programs?
A. Follow in-house maintenance procedures, schedule property inspections on an ad hoc basis, and maintain written records in any format they choose.
B. Follow manufacturer-recommended preventive maintenance procedures, schedule regular inspections, and maintain written records.
C. Follow third-party vendor-recommended maintenance procedures, schedule periodic inspections, and maintain cursory notes of maintenance procedures.
D. Follow local building code, periodically inspect the property, and contact the asset manager if there are problems.
Solutions:
| Question 1 Answer: C | Question 2 Answer: A | Question 3 Answer: A | Question 4 Answer: D | Question 5 Answer: B |
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