45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021 » Section 14 Unit 2 Exam

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Question #1
Who are the parties to a property management agreement?
A.   Owner and tenant
B.   Owner and agent
C.   Property manager and brokerage
D.   Landlord and tenant
Question #2
Investing in capital improvements to a property is one way to stall _______.
A.   Obsolescence
B.   Competition
C.   Cash flow
D.   Vacancy
Question #3
What document should detail the typical reports a property manager needs to provide for a property owner?
A.   Property management proposal
B.   Property management agreement
C.   Lease agreements
D.   Employee policies and procedures manual
Question #4
Why might a property owner ask you to prepare a report showing the trend in rental delinquency rates?
A.   To assess the adequacy of tenant income screening processes
B.   To determine if rental rates are too high compared to your competitors' rates
C.   To assess your ability to manage tenant relations
D.   To forecast the amount of effort that will be required to collect the late rents
Question #5
When Saundra Neill signed a property management agreement with Henderson Properties, Inc., she made sure the agreement stated explicitly that Henderson owned each property she would be managing. In which section of the agreement would she find this verification?
A.   Signature of the parties
B.   Insurance provision
C.   Description of duties
D.   Owner's covenants
Question #6
Forecasting the income and expenses that we can reasonably expect to bring in and pay out over a short term results in a budget that's every property manager's dream. That budget is ______.
A.   An expense
B.   A capital reserve
C.   Stabilized
D.   Historical
Question #7
The property management agreement cements what relationship between the property manager and the owner?
A.   The service relationship
B.   The agency relationship
C.   The owner relationship
D.   The landlord-tenant relationship
Question #8
As part of preparing a marketing plan for a landlord client, property manager Michelle has gathered information from numerous sources. Which of the following is likely to be most useful to her as she determines whether rent in the building she manages is in line with the competition?
A.   Results from millennial marketing survey showing advertising media preferences
B.   Complete rent roll from the building she manages
C.   List of all maintenance and repairs completed in the building for the last 18 months
D.   GIS data showing access points to bike lanes and public transportation

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