- Property Management Mock Exam #4
/ Q-Bank/ Complete Accurate Quizzes with Verified Answers, 2025 / 2026.
Quiz____?The demand for professional property management around the end of the nineteenth century resulted primarily from - Answer✓✓ the invention of the high-speed elevator---Also steel framed buildings, development of suburban areas and investment opportunities.
Quiz____?What organization awards the designation Certified Property Manager
(CPM)? -
Answer✓✓ Institute of Real Estate Management (IREM)---IREM offers opportunities for property managers to share ideas and programs to instruct those coming into the business. They are an affiliate group of NAR
Quiz____?Which of the following BEST defines real property? - Answer✓✓ Land, including its subsurface and airspace above and all improvements--- Land from subsurface rights (oil, gas, mineral) to air rights above plus all man made improvements (buildings, streets, sewers) equals real property
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Quiz____?Two principal categories of commercial real estate are office property and - Answer✓✓ retail property---Both are income producing properties. Warehouse properties would be part of industrial.
Quiz____?A major contributing factor to the decline of centralized commercial districts was the - Answer✓✓ development of suburban areas.---With the expansion of transportation the population shifted to the suburbs. As a result suburban shopping centers were built away from the city.
Quiz____?Along with knowledge, experience, and expertise, the property manager must have which of the following personal characteristics? - Answer✓✓ Honesty and integrity---Honesty and integrity to do the right thing
Quiz____?Housing prices have greatly increased in some parts of the country. What are the consequences if people cannot afford to buy their housing? - Answer✓✓ Greater demand for rental properties---This would cause many to not qualify for financing creating the need to rent. 2 / 3
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Quiz____?In a marketing analysis, the specific goal of a property manager is to identify major economic trends and the - Answer✓✓ effect on the value of the specific property at the manager's particular market level---A market analysis incorporates information about the region and local area where the property is located.
Quiz____?Which of the following is a major part of a neighborhood analysis? - Answer✓✓ Boundaries and land use---Also included would be building codes, transportation, utilities, economy, supply and demand, amenities and facilities
Quiz____?When there are more units available than tenants, it is referred to as - Answer✓✓ technical oversupply---Available rent space exceeds tenant demand.
Quiz____?The property manager has just taken over a new property. What is the point of reading all of the leases? - Answer✓✓
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