propertymanagement–5thedition.docVIP

Property Management – 5th Edition Walt Huber, Arlette Lyons and William Pivar, JD ? May 2010, Educational Textbook Company Final Exam A 1. The first practical elevator powered by electricity was the: a. Otis elevator. b. Whitney lift. c. Chaney elevator. d. Macintosh riser. 2. Advertising the sale or lease of properties in the newspaper classified section is rapidly being replaced by placing ads on: a. television.? b. Matchlist. c. AOL. d. Craigslist. 3. To which of the following sites would you most likely upload your business profile? a. B b. LinkedI c. T d. None of the above 4. An owner who hires a property manager benefits from: a. increased rents. b. reduced vacancy factor. c. reduced repair costs. d. all of the above. 5. ADR refers to: a. absolute decision resolution. b. administrative dispute resolution. c. alternative discussion responsibility. d. alternative dispute resolution. 6. Generally, renting or leasing real property in an agency capacity requires a(n): a. appraiser’s license. b. real estate broker’s license. c. DRE permit. d. none of the above. 7. Which of the following is the most prestigious and widely recognized designation for professional property management? a. CPM b. IPPF c. AAPC d. PMCP 8. “Cash flow” is: a. the amount paid for business expenses. b. the cash left over after cash expenses. c. the amount paid for non-cash expenses. d. none of the above. 9. What owners want is: a. secondary to the recommendations of the property manager. b. based on inexperienced opinions. c. an integral part of a good management plan. d. based on profit only. 10. Your management plan should show: a. how you will arrive at a desired rent schedule. b. your one-year goals for the property. c. your five-year goals for the property. d. all of the above. 11. National and local economic conditions will affect which aspect(s) of your management plan? a. Rents b. Vacancy factors c. Costs d. All of the above 12. The len