Module 9 - Financial Sheet Test

12 Questions | Total Attempts: 245

SettingsSettingsSettings
Please wait...
Module Quizzes & Trivia

Questions and Answers
  • 1. 
    If you don't have the insurance or tax amounts for the current year it is fine to use the amount from the previous year.
    • A. 

      True

    • B. 

      False

  • 2. 
    Why is it important to get the P&L broken down by month? (The answer is more then one.)
    • A. 

      To see trends.

    • B. 

      To understand the history behind the asset.

    • C. 

      To see what expenses are going to apply to the new owner.

  • 3. 
    What expense percentage should Self Storage be calculated at? Between which two percentages.
  • 4. 
    What expense percentage should Apartments be calculated at?  Between which two percentages.
  • 5. 
    What expense percentage should Assisted Living Facility be calculated at?  Between which two percentages.
  • 6. 
    What expense percentage should Mobile Home Parks be calculated at?  Between which two percentages.
  • 7. 
    What column on the financial sheet should administrative/payroll go under? (View the financial sheet)
  • 8. 
    When filling out the financial sheet, you may have to customize the income and expense fields (boxes) to be congruent with P&L for that property.
    • A. 

      True

    • B. 

      False

  • 9. 
    It is fine to use the broker brochure financials for the P&Ls.
    • A. 

      True

    • B. 

      False

  • 10. 
    What is the main reason the expense percentage for apartments would be at 70%?
    • A. 

      When the complex is paying for the utilities.

    • B. 

      When the owner is putting his personal expenses into the business expenses.

    • C. 

      The owner is not managing the property finances correctly.

  • 11. 
    What cap rate should a property be at in order to submit it? (Yes there are some exceptions on a case by case sinario.)
  • 12. 
    What is a good cash on cash return percentage? Between what range.
Back to Top Back to top