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1. A property manager is performing a risk assessment of a business continuity plan. What type of plan is a business continuity plan?
A) Backup plan
B) Service plan
C) Emergency plan
D) Disaster plan
2. A light was reported out of service to the newly assigned property management team in an office building.
Immediately, the new building manager realized there was no systematic way to handle work order requests.
The primary nature of the policy that is needed isBESTcharacterized by which of the following statements?
A) The policy must be an approved written policy.
B) The policy must be consistent with the owner's obligations under the lease.
C) The policy must support timely completion of the service request work orders.
D) The policy must support the tracking of service request work orders.
3. Which type of report should a property manager use to compare monthly revenue and expenses against budget?
A) Cash flow report
B) Annual operating budget
C) Variance report
D) Cost recovery report
4. A property manager has been given the responsibility for hiring and managing a leasing team. Which of the following is the MOST important to improve leasing outcomes?
A) Set obtainable goals.
B) Determine an appropriate compensation structure.
C) Monitor performance and report to ownership.
D) Provide an adequate budget for marketing materials.
5. A landlord owns an industrial property. Under the terms of the lease, the landlord is responsible for weekly waste removal. The tenant, a manufacturing company, depends on the reliability and consistency of routine waste removal. The landlord has failed to pay the waste hauler, and garbage has accumulated for several weeks, making it impossible for the tenant to conduct its business. The tenant is forced to vacate and move to another property. What is this called?
A) Warranty of fitness
B) Estoppel
C) Lease termination
D) Constructive eviction
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: D |
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