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Property Managment Exam 2025– 2026
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Who is required to provide worker's compensation insurance? a. Firms having in excess of 10 employees b. Firms having in excess of five employees c. Firms having in excess of one employee d. Firms having any employees - answer>>>d. Firms having any employees
A property manager accidently rented the same property to two separate tenants. The manager's protection, in this case, would be provided by: a. homeowner's insurance. b. errors and omissions coverage. c. leasehold insurance. d. innkeeper liability. - answer>>>b. errors and omissions coverage.
A property manager is considering awarding a $300,000 contract for renovation of a commercial building. The protection the property manager would be interested in would be: a. a fidelity bond. b. a surety bond. c. worker's compensation coverage. d. errors and omissions coverage. - answer>>>b. a surety bond.
A landlord's duty to provide for security may be determined by: a. cost of the property. b. foreseeability of harm.
c. prior criminal activity on the premises. d. both b and c. - answer>>>d. both b and c.
You could be liable to a tenant who was the victim of a crime if you advertised an apartment as being: a. behind security gates. b. managed by a security conscious firm. c. safe. d. patrolled by security guards. - answer>>>c. safe.
Which of the following helps in providing for security of the tenants? a. A well-lighted parking area b. The absence of high bushes and trees around entryways c. Emergency lighting in halls and entrances d. All of the above - answer>>>d. All of the above
The best break-in resistant doors are: a. hollow core. b. solid core. c. those having peepholes. d. interior doors. - answer>>>b. solid core.
The most secure type of door lock is: a. one with the fewest tumblers. b. mortised into the door. c. one with a knob key. d. a dead bolt. - answer>>>d. a dead bolt.
d. any of the above. - answer>>>d. any of the above.
Which of the following repairs should be given the highest priority? a. Dripping faucet b. An inoperable commode c. An electrical outlet that does not work d. A broken bath tile - answer>>>b. An inoperable commode
A roof with a one-inch pitch every 12 inches needs new roofing. You would NOT use: a. a built-up roof. b. tile. c. rubber roofing. d. foam roofing. - answer>>>b. tile.
The location of a roof leak is not evident. Areas to consider as to likely spots would be: a. around vents. b. around the chimney. c. where the roof meets a wall or parapet. d. all of the above. - answer>>>d. all of the above.
To reduce summer air conditioning costs, the best color for roof shingles would be: a. white. b. black. c. brown. d. green. - answer>>>a. white.
Dirty air filters: a. reduce cooling and heating effectiveness.
b. cause additional wear on equipment. c. both a and b. d. neither a nor b. - answer>>>c. both a and b.
Pigeons can be completely eliminated as a problem by: a. using recordings of wounded birds. b. placing plastic owls on the property. c. placing plastic snakes on window ledges. d. none of the above. - answer>>>d. none of the above.
The advantages in using temporary service workers rather than a contractor for unskilled labor jobs would be: a. speed in getting the job done. b. a likely lower cost. c. both a and b. d. neither a nor b. - answer>>>c. both a and b.
From an owner's point of view, the difference between improvements and repairs would be: a. repairs are more costly. b. improvements must be written off over the life of the improvement. c. repairs can be shown as an expense in the year of the repair. d. both b and c. - answer>>>d. both b and c.
An insulated blanket would likely be used to cover a(n): a. water heater. b. air filter. c. sprinkler system.
d. all of the above. - answer>>>d. all of the above.
Information that an owner would find beneficial with an annual statement includes: a. occupancy rates for the previous year or years. b. a comparison of expenses and income with prior years. c. both a and b. d. neither a nor b. - answer>>>c. both a and b.
A skip tracer would be used to: a. audit trust funds. b. locate former tenants. c. reproduce lost documents. d. copy computer programs. - answer>>>b. locate former tenants.
Payroll records would include: a. income. b. social security deductions. c. income tax deductions. d. all of the above. - answer>>>d. all of the above.
Keeping telephone records allows a property manager to evaluate: a. responses to an ad. b. effectiveness of an ad. c. effectiveness of an agent. d. all of the above. - answer>>>d. all of the above.
An employee file should include: a. employees' applications.
b. employees' employment contracts. c. employees' evaluations. d. all of the above. - answer>>>d. all of the above.
A property manager's audit of his or her firm's bookkeeping: a. is required by law. b. indicates a distrust of employees. c. is good business practice. d. is a waste of money. - answer>>>c. is good business practice.
Computer software is capable of: a. producing graphs of income and expenses. b. automatically calculating late fees. c. preparing and tracking work orders. d. all of the above. - answer>>>d. all of the above.
You can personally promote yourself by all of the following, except: a. business cards. b. name tags. c. car signs. d. fee splitting. - answer>>>d. fee splitting.
A logo refers to a(n): a. geographical location. b. identifying design. c. operational plan. d. estimated operating budget. - answer>>>b. identifying design.
b. agree to cut the price. c. thank the owner and end the discussion. d. sign a contract that does not take effect until the other contract expires. - answer>>>c. thank the owner and end the discussion.
Which of the following contracts include partial management duties? a. An exclusive right to lease b. A management consulting contract c. An offer to purchase d. Both a and b - answer>>>d. Both a and b
Advance fee rental agencies: a. charge a fee to prospective tenants. b. charge owners to advertise their properties. c. provide prospective tenants with lists of vacancies. d. both a and c. - answer>>>d. both a and c.
The most cost effective method of advertising to fill a vacancy would be a: a. television ad. b. radio ad. c. "For Rent" sign. d. classified ad. - answer>>>c. "For Rent" sign.
The Civil Rights Act that applied only to race was the Civil Rights Act of: a. 1866. b. 1964. c. 1968. d. 1988. - answer>>>a. 1866.
Directing a prospective tenant away from a property because you did not feel that he/she would be comfortable there based on the race of the current residents would be: a. blockbusting. b. steering. c. redlining. d. legal. - answer>>>b. steering.
Which of the following is NOT be a member of a protected group under the 1988 Fair Housing Amendment Act? a. A blind person b. A person with AIDS c. A drug addict d. An alcoholic - answer>>>c. A drug addict
A tenant has a seeing eye dog. The lessor can: a. charge an increased rent because of the pet. b. increase the security deposit to cover possible damage by the dog. c. refuse to rent to the person if there is a no-pet policy that is uniformly enforced. d. do none of the above. - answer>>>d. do none of the above.
An exception to the prohibition against discrimination as to familial status would be: a. children under the age of 18. b. a prospective tenant who is pregnant. c. housing for the elderly. d. an unmarried mother. - answer>>>c. housing for the elderly.
Which of the following advertising language would be acceptable? a. "Mother-in-Law suite"
c. Golden Rule. d. benefits. - answer>>>c. Golden Rule.
Which of the following is true about a lease "surrender" when one year is remaining on the lease? a. The tenant is liable for one month's rent. b. The tenant is not liable for the remaining rent. c. The landlord must mitigate damages. d. The tenant is immediately liable for total rent to the end of the lease. - answer>>>b. The tenant is not liable for the remaining rent.
As a property manager, it is NOT good business practice to lease to: a. close relatives. b. close friends. c. a person with whom you are romantically involved. d. any of the above. - answer>>>d. any of the above.
In handling a tenant waiting list, you should give preference to: a. friends. b. women. c. families with children. d. time and date of application. - answer>>>d. time and date of application.
Fiduciary duty of a property manager to a property owner includes: a. loyalty. b. confidentiality. c. full disclosure. d. all of the above - answer>>>d. all of the above
Tenant "waste" refers to: a. inefficient management. b. a high tenant turnover. c. tenant abuse of the property. d. the failure to conserve energy. - answer>>>c. tenant abuse of the property.
A tenant signed a one-year lease and failed to take possession. The maximum tenant obligation would be: a. one month's rent. b. 30 day's rent. c. rent for one year. d. none of the above. - answer>>>c. rent for one year.
The first notice to evict a tenant who has not paid rent would be a(n): a. Quit or Pay Rent notice. b. Unlawful Detainer Action. c. Writ of Possession. d. Notice of Nonresponsibility. - answer>>>a. Quit or Pay Rent notice.
If correct, which of the following would be a defense against an unlawful detainer action? a. A claim of retaliatory eviction b. Partial rent payment after the three-day notice c. A claim that the residential premises was uninhabitable d. All of the above - answer>>>d. All of the above
Which of the following is an example of constructive eviction? a. Failure of the landlord to provide for contracted utilities b. Failure to take action against a tenant who is interfering with another tenant's use of
d. All of the above. - answer>>>d. All of the above.
A resident manager lives in the complex she manages but does not pay any rent. Which of the following is true? a. If he/she is not required to live there, the value of the apartment counts as wages. b. If he/she is required to live there, the apartment value does not count as wages. c. Both a and b. d. Neither a nor b. - answer>>>c. Both a and b.
A property manager would probably be worried about hiring an individual if the application showed: a. a history of work going to more and more responsible positions. b. the employee had not worked for one employer more than two months. c. no period of unemployment greater than three weeks. d. any of the above. - answer>>>b. the employee had not worked for one employer more than two months.
A prospective employee looks foreign and speaks with an accent. You should: a. assume that he or she is an illegal alien. b. offer below-minimum wages. c. have the person complete a government form to show citizenship or alien status. d. refuse to interview or hire the person. - answer>>>c. have the person complete a government form to show citizenship or alien status.
The main purpose of an employee evaluation is to: a. justify firing the employee. b. help the person to be a better employee. c. comply with the law.
d. both a and c. - answer>>>b. help the person to be a better employee.
Ways to discourage employees from accepting a position with another broker would be to offer: a. health insurance coverage. b. a retirement program. c. profit sharing program. d. all of the above. - answer>>>d. all of the above.
By contributing to an employee's retirement program where your contribution will not vest for five years, you: a. need not part with any money. b. make it difficult for the employee to leave before five years. c. encourage job-hopping. d. avoid minimum wage restrictions. - answer>>>b. make it difficult for the employee to leave before five years.
Before you go into your own property management business, you should consider: a. your financial resources. b. the cost to open an office. c. your contacts who will help you gain management business. d. all of the above. - answer>>>d. all of the above.
The high-rise office buildings were made possible because of: a. the moldboard plow. b. structural steel. c. the electric elevator. d. both b and c. - answer>>>D: Both B and C
c. Certified Property Manager. d. Consumer Protection Marketing. - answer>>>C: Certified Property mangager
ARM stands for: a. Association of Retail Managers. b. Accredited Residential Manager. c. American Restaurant Management. d. Alliance of Residential Managers. - answer>>>B: Accredited Residential Manager
AMO stands for: a. Accredited Management Organization. b. American Maintenance Organization. c. Association of Management Officers. d. Alliance of Management Organizations. - answer>>>A: Accredited Management Organization
BOMA stands for: a. Benevolent Order of Managing Agents. b. Building Owners and Managers Association. c. Builders, Operators, and Managers Alliance. d. Building Operators Maintenance Association. - answer>>>B: Building Owners and Managers Association
RPA stands for: a. Real Property Administrator. b. Residential Property Administrator. c. Real Estate Professional Alliance. d. Repair, Protect, and Administer. - answer>>>A: Real Property Administrator
Benefits of ownership of investment property include all, except: a. risk. b. appreciation. c. pride of ownership. d. capital gains tax on sale profits. - answer>>>A: Risk
A property analysis included in a management plan would cover: a. the locational advantages and disadvantages of the property. b. the physical structure. c. current tenants and rents. d. all of the above. - answer>>>D: All of the above
What is a Pro-Forma Statement? a. The current rent schedule b. An audited operating statement c. A statement as to anticipated rents and expenses d. A chart showing the changes in vacancies - answer>>>C: A statement as to anticipated rents and expenses
Zero-based budgeting is based on: a. no expenses for maintenance. b. 100 percent occupancy. c. starting with zero and justifying every budgeted item. d. anticipated revenue equaling anticipated expenses. - answer>>>C: starting with zero and justifying every budgeted item.
A property manager should consider refusal of management when: a. the manager lacks the expertise to properly handle management. b. the owner refuses to allow the manager to take any action without prior approval.
