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1. 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) Income statement
B) Vacancy report
C) Balance sheet
D) Roll-up report
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) Disruptive
B) Constructive
C) Actual
D) Accelerated
3. A tenant has filed a claim against a property management company's architect, alleging financial loss suffered as a result of non-performance on a space design contract. Which of the following insurance policiesBEST protects the architect from this claim?
A) Professional liability insurance
B) Employment practices liability insurance
C) Fiduciary liability insurance
D) Employee benefits liability insurance
4. Which of the following options MOST accurately describes industry best practices for maintenance programs?
A) Follow local building code, periodically inspect the property, and contact the asset manager if there are problems.
B) Follow in-house maintenance procedures, schedule property inspections on an ad hoc basis, and maintain written records in any format they choose.
C) Follow third-party vendor-recommended maintenance procedures, schedule periodic inspections, and maintain cursory notes of maintenance procedures.
D) Follow manufacturer-recommended preventive maintenance procedures, schedule regular inspections, and maintain written records.
5. A senior property manager wants to ensure members of the management team understand how a curtain wall system works. How can the senior property manager best describe thePRIMARYdistinguishing features of a curtain wall?
A) Defines the elevator shafts and fire stair tower
B) Secures the leased premises of each commercial tenant
C) Keeps the weather out and carries no vertical structural loads
D) Carries the structural load of the foundation and roof
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: A | Question # 4 Answer: D | Question # 5 Answer: C |
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