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.   Landlord and tenant
B.   Property manager and brokerage
C.   Owner and tenant
D.   Owner and agent
Question #2
Investing in capital improvements to a property is one way to stall _______.
A.   Competition
B.   Obsolescence
C.   Vacancy
D.   Cash flow
Question #3
What document should detail the typical reports a property manager needs to provide for a property owner?
A.   Property management proposal
B.   Lease agreements
C.   Employee policies and procedures manual
D.   Property management agreement
Question #4
Why might a property owner ask you to prepare a report showing the trend in rental delinquency rates?
A.   To forecast the amount of effort that will be required to collect the late rents
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 assess the adequacy of tenant income screening processes
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.   Description of duties
B.   Signature of the parties
C.   Insurance provision
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.   Historical
B.   An expense
C.   Stabilized
D.   A capital reserve
Question #7
The property management agreement cements what relationship between the property manager and the owner?
A.   The landlord-tenant relationship
B.   The owner relationship
C.   The agency relationship
D.   The service 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.   List of all maintenance and repairs completed in the building for the last 18 months
B.   GIS data showing access points to bike lanes and public transportation
C.   Complete rent roll from the building she manages
D.   Results from millennial marketing survey showing advertising media preferences

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