CAM TEST ACTUAL
SOLUTION
Define Market Segmentation - answer --maximize resources
-tailor to market
-more defined market frofile
The 1964 Fair Housing protects what? - answer --Race
-Color
-Religion
-National Origin
-Sex
-Familial Status
-Handicap
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CAM TEST -- ACTUAL SOLUTION.docx
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CAM TEST ACTUAL
SOLUTION
Define Market Segmentation - answer --maximize resources -tailor to market -more defined market frofile The 1964 Fair Housing protects what? - answer --Race -Color -Religion -National Origin -Sex -Familial Status -Handicap
What is the minimum number of required bids? - answer - What are the five P's? - answer --Place -Price -Product -People -Promotion What should be the main focus of an effective incentive program? - answer -Job performance True or False: Someone with HIV is a protected class. - answer - True ADA provision to title III is what? - answer -ADA- leasing office area must meet requirements What is HOPA? - answer -HOPA eliminates the requirement that 55 and older have significant facilities and servicing designed for elderly.
-Three months worth of bank statements What are reserve accrual for? - answer -Future large cap X improvements Name 3 examples of vendors that require a license? - answer -- Elevator -Swimming Pool -A/C What is an example of a fixed expense? - answer -Taxes Define steering? - answer -Trying to encourage prospects to lease at a specific location based on race, marital status or age. Ways to meet OSHA guidelines? - answer --monthly safety meetings -provide healthy and safe work environment -file and keep all documentation of safety meetings
True or False: Insurance is an example of operating expense - answer -True What is GPR? - answer -current rent at 100% occupied What is the purpose of preventative maintenance? - answer - Lessen the likelihood of future maintenance problems What does exposure incident involve? - answer -Blood or Bodily Fluids What two forms of payments can be accepted for rent? - answer -Check or Money Order What are reasons to fire a vendor? - answer --Conflict of interest -Non payment of taxes What is the number one valid reason for eviction? - answer - unauthorized occupant
Service technicians waste approximately how many hours per day? - answer - When does the acceptance of lease policies take place? - answer -When lease contract is executed? What is AIDA? - answer -Attentions, Interest, Desire, Action Define retrofitting - answer -Replacing worn, older less significant equipment with newer energy serving models. What are the Five classes that Fair Housing protect and the amendments? - answer -Race, Color, religion, Familial status, natural origin, handicap, sex What types of people are included in familial statud protected class? - answer --Going to adopt -Pregnant women Typed of environmental hazards - answer -Freon, lead, abestos, mold, carbon monoxide, Rado
What are accounting methods - answer -Accrual- records all income expenses in the period they were earned regardless of when received or paid. Cash- all income and expenses when they are actually received or paid Typed of mortgage - answer --Fixed rate -Variable -Balloon -Bullet loan Define investment - answer -Investment is the use of funds to earn a profit General liability includes - answer --Bodily injury -Property Damage -Personal Injuries Name three factors that affect rental income - answer -- occupancy -market rents (competitive)
List 3 sanctions that HUD uses to discipline management agents who violate operating procedures? - answer --Remove manager -civil penalties (fines) -criminal penalties Section 8 Housing vouchers assists who? - answer --low income -elderly -handicap Who is responsible for market ready condition of property? - answer -Manager CAP X intems have? - answer --useful economic life -improvements -replacements Define NOI - answer -Total revenue less expenses
When can property insurance be cancelled? - answer -Failure to pay premises What is relationship selling? - answer -Tailor presentation to specidic audience What are the 5 types of expenses? - answer --Fixed -variable -capital -replacement reserves -debt service How do you manage occupancy methods? - answer --calculate occupancy trend -manage lease expiration -calculate turnover ratio What are 3 economic condition? - answer --Population growth -Househole information -Job creation
Two Disadvantages of using contractor? - answer --Quality of work may vary
- Contract disputes can result in property liens What does marketing involve? - answer -1. Goals
- Research
- Analysis
- Evaluation and measured results What are the five contents of service requests? - answer -1. Name and Address
- Date & Time
- Tech assigned
- Permission to enter
- Description of repair True or False: The primary goal is to income NOT occupancy. - answer -True What is Internal Marketing? - answer --Refers to the onsite marketing practices that occue within the apartment community.
- Includes staff and resident involvement in marketing What is Public Relations? - answer --Ongoing relationships that exist between the apartment community and the public
- Use to create a positive image What is the advertising campaign? - answer --Program of coordinated ads and other promotional activities intended to accomplish specific objectives What is SWOT - answer --Strength -Weakness -Opportunities -Threats Three elements of a Market Analysis - answer --Regional Analysis -Neighborhood Analsis -Property analysis
What are tips for handling discipline? - answer --Be consistent -Be Fair -Discuss the situation with supervisor or another manager -Match the consequence to the offense What are reasons for termination? - answer --Fired (involuntary termination) -Laid Off -Quit (resignation, voluntary termination)
- Retired What is sexual harassment? - answer -Unwelcomed sexual advances. request for sexual favors and other verbal or physical conduct of sexual nature constitutes sexual harassment How do you prevent sexual Harassment? - answer -- Have a policy and communicate it
- Provide periodic training to the staff
- Be sure that management behaves in a way that supports your policy
How do you evaluate a potential employee? - answer -- Evaluate the interview
- Verify references
- Conduct a second interview
- Use a pre- emplotment screening agency What is FMLA? - answer -requires employers to grant up to 26 weeks of unpaid leave during a 12 month period for: -To care for a covered service members -To care for a parent, spouse or child with a serioud health condition
- To handle certain qualifying exigencies arising out of active military duty What does FMLA stand for? - answer -Family Medical Leave Act What does IRCA stand for? - answer -Immigration Reform and Control Act
What is inspected when a resident moves out? - answer -- Cleaning
- Carpets
- Damages
- Equipment What does Rent Toll Include? - answer -- Apartment #
- Move in date
- Lease expiration date
- Rental Rate
- Amount collected What are emergency requests? - answer -- no electricity
- no plumbing or water
- major water in filtration
- no heat
- no air conditioning
- smoke alarm or carbon dioxide detectors sounding
- apartment access problems
What is a lease? - answer -A legally enforceable contract that grants a resident the right and responsibilities of possession and use of an apartment for a specified period of time What are the three keys to good customer service? - answer -- Communication
- Attitude
- Relationships What is negligence? - answer -Unreasonable response to a foreseeable risk What are the elements of a contract? - answer --Offer -Terminating an offer -Acceptance -Consideration -Capacity What are the residents right to privacy? - answer -- Government officials -Managers liability
- Federal trade commission ruling