Property Management 02.01.2013

25 Questions

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Property Management Quizzes & Trivia

Fundamentals of Property Management


Questions and Answers
  • 1. 
    Above all else, who does the property manager work for?
  • 2. 
    What do you call ongoing expenses for running a property?
  • 3. 
    Replacing a roof is an example of what kind of expense?
  • 4. 
    What is calculated by subtracting operating expenses from revenue?
  • 5. 
    True or False: It is okay for a property management company to directly contract with a service provider?
    • A. 

      True

    • B. 

      False

  • 6. 
    How would you classify a premier building with above average rents and state-of-the-art systems?
  • 7. 
    What is the most common type of net lease?
  • 8. 
    True or False: A lease agreement is a binding agreement between the tenant and the owner of a building.
    • A. 

      True

    • B. 

      False

  • 9. 
    Define "turn-key" tenant improvement project
    • A. 

      Landlord pays for the entire construction cost

    • B. 

      Tenant pays for the entire construction cost

    • C. 

      Landlord and Tenant split the construction cost

    • D. 

      None of the above

  • 10. 
    True or false: A billback refers to an overdue account
    • A. 

      True

    • B. 

      False

  • 11. 
    Which of the following are man-made emergencies? (check all that apply)
    • A. 

      Bomb threat

    • B. 

      Fire

    • C. 

      Theft

    • D. 

      Tornado

    • E. 

      Workplace violence

    • F. 

      Medical Emergency

    • G. 

      Vehicle accident

    • H. 

      Murder

    • I. 

      Blizzard

  • 12. 
    True or false: The limits of an insurance policy refer to the types of losses that are covered or not covered
    • A. 

      True

    • B. 

      False

  • 13. 
    In accounting, an entry for payments received is called what?
    • A. 

      Debit

    • B. 

      Credit

    • C. 

      Balance due

    • D. 

      NOI

  • 14. 
    Which of the following are examples of operating expenses? (check all that apply)
    • A. 

      Payroll

    • B. 

      Repair and maintenance

    • C. 

      Roof replacement

    • D. 

      Utilities

    • E. 

      Real estate taxes

    • F. 

      Tenant improvements

    • G. 

      Landscaping contracts

  • 15. 
    What system-generated report only lists account numbers and account names?
    • A. 

      Income Statement

    • B. 

      Chart of Accounts

    • C. 

      Rent roll

    • D. 

      Balance Sheet

  • 16. 
    What do you call charges for expenses incurred to maintain sidewalks, parking lots, and other common areas and common building systems?
  • 17. 
    True or false: "Budget" and "business plan" are synonymous
    • A. 

      True

    • B. 

      False

  • 18. 
    Which of the following is a componant of an HVAC system?
    • A. 

      Heating

    • B. 

      Ventilation

    • C. 

      Air Conditioning

    • D. 

      All of the above

    • E. 

      None of the above

  • 19. 
    True or false: Ideally, the air pressure outside a building should be slightly lower than the air pressure inside a building?
    • A. 

      True

    • B. 

      False

  • 20. 
    In real estate, a neighborhood or other small geographical region is referred to as what?
  • 21. 
    Which of the following is not an example of routine cleaning tasks?
    • A. 

      Vacuuming

    • B. 

      Window washing

    • C. 

      Emptying trash

    • D. 

      Cleaning restrooms

  • 22. 
    True or false: Plants and flowers that bloom year-to-year are called Perennials
    • A. 

      True

    • B. 

      False

  • 23. 
    Which of the following pests pose health risks? (check all that apply)
    • A. 

      Ants

    • B. 

      Spiders

    • C. 

      Rodents

    • D. 

      Birds

    • E. 

      Dust bunnies

  • 24. 
    Which of the following is not found on a rent roll?
    • A. 

      Owner name

    • B. 

      Monthly rent

    • C. 

      Building square footage

    • D. 

      Tenant name

  • 25. 
    What is the general term for space in a building shared by some or all building tenants?