Analysis of Demographics

QUESTION 1

A property manager has a legal obligation to protect and promote her client’s interests. This is because the manager:

a.is the client’s agent and owes the client fiduciary duties

b.is a member of a professional association with a code of ethics that specifically requires this

c.is subject to the Uniform Standards of Professional Property Management

d.has signed a contract (the management agreement) that expressly requires this

QUESTION 2

 A property manager is preparing a management plan for a new client’s property. The manager’s property analysis:

a.should focus primarily on the property’s physical condition at this stage

b.should include an evaluation of the property’s current operations, leasing, management, and financial condition, as well as its physical condition

c.should be performed after the market analysis, for most types of property

d.must be based on an appraisal performed by a state-licensed or -certified appraiser within the previous six months

QUESTION 3

A property manager is deciding on a marketing plan for a vacant retail space. How much advertising will be needed in order to find the next tenant for the space is most likely to be affected by:

a.branding

b.the target market

c.the property’s location

d.the cost per prospect  

QUESTION 4

A property manager is doing a preliminary study in order to prepare a management plan. As usual, the preliminary study will involve five main categories of analysis. These categories include all of the following, except:

a.analysis of alternatives

b.analysis of demographics

c.regional analysis

d.neighborhood analysis