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Question 1 A property manager need not be concerned with the owner's long-term goals. A. TrueB. False
Question 2 High-tech companies often locate near universities in incubator spaces. A. TrueB. FalseQuestion 3 Old multistory manufacturing buildings that are converted into office, residential, and storage space are referred to as loft buildings. A. TrueB. False
Question 4 Property managers do not need to be involved in community activities. A. TrueB. False
Question 5 Slumlords are owners who pour money back into older properties. A. TrueB. FalseQuestion 6 The oldest professional organization of property managers is the Building Owners and Managers Association. A. TrueB. FalseQuestion 7 A Certified Property Manager (CPM) is a member of the National Apartment Association. A. TrueB. FalseQuestion 8 Ethical behavior is often considered the equivalent of fairness and putting the client's interest ahead of the manager's. A. TrueB. FalseQuestion 9 The primary function of a property manager is to extract as much money as possible from the managed property. A. TrueB. FalseQuestion 10 The automobile made it possible to develop suburbs a long distance from the city center. A. TrueB. FalseQuestion 11 One business cycle consists of expansion, recession, contraction, and revival. A. TrueB. FalseQuestion 12 Long-term business cycles occur regularly once a year. A. TrueB. FalseQuestion 13 Hurricanes and terrorist attacks are considered part of long-term movements. A. TrueB. FalseQuestion 14 The management plan considers the surrounding area, the subject property, and the owner's goals. A. TrueB. FalseQuestion 15 Real estate is not generally influenced by outside market forces. A. TrueB. FalseQuestion 16 The owner and the manager should be named as coinsureds on liability and workers' compensation insurance policies. A. TrueB. FalseQuestion 17 Fees charged to owners may be freely discussed by competing property management companies. A. TrueB. FalseQuestion 18 Most owners do NOT wish to be disturbed so annual reporting is generally sufficient. A. TrueB. FalseQuestion 19 Banks, colleges, and large corporations usually enter into an employer-employee relationship with the property manager. A. TrueB. FalseQuestion 20 The management agreement should indicate if the agent is permitted to sign binding leases. A. TrueB. False
what are the three basic function of a firm?what are the three basic function of a firm? do all firmsorganizations
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