Module 9 - Financial Sheet Test
12 Questions
| Total Attempts: 245
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.
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