Team Ski Property Management 2

16 Questions

Settings
Please wait...
Property Management Quizzes & Trivia

The demand for property management has risen due to the need to have knowledgeable people handling the purchase and sale of property. This quiz will show you just how much you know.


Questions and Answers
  • 1. 
    The demand for professional property management that occurred in the late 1800 resulted primary  from
    • A. 

      Reshaping the urban center by building tall buildings with elevators

    • B. 

      Increasing concentration of retail activity in downtown urban areas

    • C. 

      Increasing availability of land for development

    • D. 

      Decling opportunties for investments in real property

  • 2. 
    The traditional concentration of retail property in downtown areas became decentralized as a result of
    • A. 

      Development of light industry in the suburbs

    • B. 

      Development of multifamily apartment buildings

    • C. 

      Evolution of he suburban shopping center

    • D. 

      Expansion of public transportion

  • 3. 
    In the operating budget, what is the name of the expenditure that accounts for money for replacement expenditures
    • A. 

      Cash flow

    • B. 

      Reserve Funds

    • C. 

      Variable expenses

    • D. 

      Direct costs

  • 4. 
    All of the following should be goals of the professional manager EXCEPT
    • A. 

      Maintain 100% occupancy

    • B. 

      Generate income to the owner

    • C. 

      Increase value of the property

    • D. 

      Accomplish the objectives of the owner

  • 5. 
    Which of the following professional orginaztions has the longest history
    • A. 

      Building Owners and Managers Association International (BOMA)

    • B. 

      National Apartment Association (NAA)

    • C. 

      Institute of Real Estate Management (IREM)

    • D. 

      International Council of Shopping Centers (ICSC)

  • 6. 
    Incubator spaces are most likely to be found in
    • A. 

      Loft buildings

    • B. 

      Research parks

    • C. 

      Ministorage areas

    • D. 

      Special-purpose properties

  • 7. 
    Examples of special-purpose properties include
    • A. 

      Manufacture home parks

    • B. 

      Loft buildings

    • C. 

      Enterprise zones

    • D. 

      Nursing homes

  • 8. 
    Which of the following type of real estate properties utilizes more professional property managers
    • A. 

      Industrial

    • B. 

      Commercial

    • C. 

      Special-Purpose

    • D. 

      Residential

  • 9. 
    What should the manager do if the building is 100 percent occupied?
    • A. 

      Consider raising the rents

    • B. 

      Ask for a raise

    • C. 

      Consider lowering the rents

    • D. 

      Cut back on amenities

  • 10. 
    The construction of multifamily unit owership housing has been stimulated by
    • A. 

      Rising land and construction costs

    • B. 

      The varities of ownership means by which they may be held

    • C. 

      Govertment-assisted financing programs

    • D. 

      The invention of the steel frame building

  • 11. 
    Income producing properties that offer services are known as
    • A. 

      Government and charitable instructions

    • B. 

      Retail strip centers and regional shopping malls

    • C. 

      Retail space and regional malls

    • D. 

      Office property and business parks

  • 12. 
    The ability of a property manager to assess a market and implement sales promotion is MOST critical when dealing with
    • A. 

      Industrial property

    • B. 

      Special-purpose property

    • C. 

      Retail property

    • D. 

      Office property

  • 13. 
    Ministorage, unlike many other types of industrial property, is
    • A. 

      Located in downtown commercial areas

    • B. 

      Always designed for residential clients

    • C. 

      Not managed by professional property managers

    • D. 

      Not designed to meet the needs of any particular industry

  • 14. 
    Areaa that are predominately warehousing, light manufacturing, or assembly zones and that are created under state statutes are called
    • A. 

      Buisness parks

    • B. 

      Research parks

    • C. 

      Enterprise zones

    • D. 

      Special-purpose properties

  • 15. 
    Which of the following would be classified as special-purpose property
    • A. 

      Hotels, motels, theaters, schools, and places of worship

    • B. 

      Buildings occupied by members of the medical profession

    • C. 

      Nything managed by a property management company

    • D. 

      Residential condominiums and cooperatives

  • 16. 
    Prospective tenants form their initial impression of a rental property based on the
    • A. 

      Personality of the manager or leasing agent

    • B. 

      Curb appeal of the property

    • C. 

      Appearance of the manager's office or quarters

    • D. 

      Inspection of the interior of the building