Resident Utility Bill And Collect Article Quiz

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| By Sbradford
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Quizzes Created: 2 | Total Attempts: 180
| Attempts: 70
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  • 1/9 Questions

    Which of the following would NOT be included on a convergent bill?

    • Garbage fees
    • Pet fees
    • Utilities
    • Rent
    • All of the above might be included on a convergent bill
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About This Quiz

This quiz assesses knowledge on utility billing for U. S. Apartment residents, including the history and benefits of bill and collect services, convergent billing, and specific case studies like Holly Station. It's designed for professionals in property management, enhancing their understanding of efficient utility management.

Resident Utility Bill And Collect Article Quiz - Quiz

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  • 2. 

    Which of the following is NOT a benefit of electronic convergent billing?

    • Accelerated collections

    • Decreased vacant costs

    • Less required working capital

    • Reduced administrative workload

    • Improved transparency

    • Increased resident satisfaction

    Correct Answer
    A. Decreased vacant costs
    Explanation
    Electronic convergent billing is a system that combines multiple billing processes into one platform, making it more efficient and streamlined. It offers several benefits such as accelerated collections, less required working capital, reduced administrative workload, improved transparency, and increased resident satisfaction. However, decreased vacant costs is not a direct benefit of electronic convergent billing. It may indirectly contribute to cost savings by improving overall efficiency and accuracy in billing, but it is not a specific benefit mentioned in the question.

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  • 3. 

    Which of the following is NOT a feature of electronic convergent billing?

    • Rent, utilities, etc., included on one bill

    • Bills emailed to residents

    • Direct links to online payment services

    • All of the above are features of electronic convergent billing

    Correct Answer
    A. All of the above are features of electronic convergent billing
    Explanation
    Electronic convergent billing is a system that combines multiple bills, such as rent and utilities, into one single bill. This allows residents to conveniently view and pay all their bills in one place. Additionally, bills are emailed to residents, eliminating the need for physical mail. The system also provides direct links to online payment services, making it easier for residents to make payments. Therefore, all of the given options are features of electronic convergent billing.

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  • 4. 

    Which of the following is the owner of Holly Station, a Tristar property, and is quoted in the article?

    • Virginia Love

    • Peter Voelkel

    • Dave Staal

    • Doug Hastings

    Correct Answer
    A. Peter Voelkel
    Explanation
    Peter Voelkel is the owner of Holly Station, a Tristar property, and is quoted in the article.

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  • 5. 

    When utility bill and collect services were first intriduced, which of the following was a benefit of them?

    • Increase in property income

    • Being able to collect bills faster

    • Decrease in the amount of delinquent payments

    • Decrease in the workload for property staff

    Correct Answer
    A. Decrease in the workload for property staff
    Explanation
    The correct answer is "Decrease in the workload for property staff". When utility bill and collect services were first introduced, one of the benefits was that it reduced the workload for property staff. This means that staff members would have to spend less time and effort on tasks related to collecting and managing utility bills, allowing them to focus on other important responsibilities.

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  • 6. 

    Convergent billing now represents about ___________ resident utility and rent bills per month.

    • 25,000 to 100,000

    • 500,000 to 1 million

    • 1.5 to 2 million

    • 10 to 25 million

    Correct Answer
    A. 1.5 to 2 million
    Explanation
    Convergent billing now represents about 1.5 to 2 million resident utility and rent bills per month. This means that a significant number of residents are now using convergent billing for their utility and rent payments. The range of 1.5 to 2 million suggests that the exact number of bills falls within this range, but it is not possible to determine the precise number from the given information.

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  • 7. 

    Which of the following is NOT a reason why the practice of utility bill and collect persits?

    • It's the lowest price option

    • It operates "out of site, out of mind"

    • Cryptic, complex vendor remittance statements

    • It's accepted as a necessary evil

    Correct Answer
    A. It's the lowest price option
    Explanation
    The given answer "It's the lowest price option" is not a reason why the practice of utility bill and collect persists. This suggests that the practice continues for reasons other than being the cheapest option.

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  • 8. 

    Approximately how many U.S. apartment residents are billed for utilities in addition to rent?

    • 1 million

    • 5 million

    • 10 million

    • 20 million

    • 50 million

    Correct Answer
    A. 5 million
    Explanation
    Approximately 5 million U.S. apartment residents are billed for utilities in addition to rent. This suggests that a significant portion of apartment residents in the U.S. have to pay for utilities such as electricity, water, and gas separately from their rent. This could be due to various factors such as the type of apartment complex, location, and the landlord's policies. Having separate utility bills can add an additional financial burden for these residents, making it important for them to budget and manage their expenses effectively.

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  • 9. 

    According to Dave Staal's estimates, by how much could electronic convergent billing increase utiity collections?

    • 10 to 20 percent

    • 20 to 30 percent

    • 30 to 40 percent

    • 40 to 50 percent

    Correct Answer
    A. 20 to 30 percent
    Explanation
    Dave Staal estimates that electronic convergent billing could increase utility collections by 20 to 30 percent. This means that implementing electronic convergent billing methods could result in a significant increase in the amount of money collected from utility customers.

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  • 10. 

    Article: Death of Utility Bill and Collect

Quiz Review Timeline (Updated): Aug 21, 2023 +

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  • Current Version
  • Aug 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Sep 24, 2012
    Quiz Created by
    Sbradford
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