IREM Accredited Management Organization (AMO)

The Accredited Management Organization (AMO) accreditation from IREM is best described as a:

• AIndividual designation earned by a property manager
• BFirm-level accreditation awarded to a real estate management company
• CLicense issued by state real estate commissions
• DTax classification recognized by the IRS

Approximately how many real estate management firms hold the AMO accreditation?

• AFewer than 100
• BMore than 500
• CAround 5,000
• DAround 50,000

The AMO accreditation has been awarded by IREM since:

• A1925
• B1945
• C1975
• D2005

Which IREM individual designation must the firm's executive in charge of AMO compliance hold?

• AARM
• BACoM
• CCPM
• DCCIM

To serve as the AMO Headship, the Executive CPM must have been in their executive role at the firm for at least:

• A30 days
• B90 days
• C180 days
• D365 days

AMO Headship rules require the Executive CPM to have decision-making authority over at least how many of the six firm functions?

• ATwo of six
• BThree of six
• CFour of six
• DAll six of six

A firm's CEO is a CPM in good standing and runs accounting, finance, leasing, and marketing for the company; HR and maintenance report to a separate COO. Does the CEO satisfy the AMO Headship functional authority test?

• ANo, because the COO controls two functions
• BYes, because the CEO has authority over at least four of six functions
• CNo, because the CEO must control all six functions
• DOnly if the COO also holds the CPM

Which of the following best describes the AMO certification course curriculum?

• AA single 2-hour ethics webinar
• BTwo firm-level courses covering leadership and ethics
• CAn eight-course CPM curriculum
• DA one-day compliance workshop only

Which strategic plan element is most consistent with an AMO firm's value proposition to investor-owners?

• AMaximum short-term fee revenue regardless of owner outcomes
• BLong-term protection of owner asset value through fiduciary management
• CAggressive cross-selling of unrelated brokerage products
• DAvoiding capital reserves to keep distributions high

A firm leader is evaluating whether to enter a new market by acquiring a smaller management company. From an AMO governance perspective, which item should be evaluated FIRST?

• AAesthetics of the target's office space
• BCompatibility of the target's trust accounting practices and ethics culture
• CWhether the target uses the same logo color palette
• DWhich calendar app the target uses

Which document best documents the boundary between owner authority and management firm authority on a managed property?

• AThe vendor master list
• BThe management agreement
• CThe firm's employee handbook
• DThe marketing brochure

Which of the following is NOT typically considered an essential element of a real estate management agreement?

• ATerm and termination provisions
• BFees and reimbursable expenses
• CScope of authority and fiduciary duty
• DNames of the firm's social media followers

The AMO Headship is reviewing a new owner contract that gives the firm authority to sign leases up to a five-year term without owner sign-off. The proper governance response is to:

• AAccept the broad authority to maximize the firm's flexibility
• BAdd a written cap or notification trigger appropriate to the owner's investment goals
• CRefuse to sign any leases until the owner is consulted on every signature
• DSign all leases at the maximum term to demonstrate efficiency

Which leadership behavior most directly supports an AMO firm's culture of compliance?

• APunishing employees who report errors
• BTone at the top — visible executive endorsement of ethics and trust accounting standards
• CPosting the policy manual once and never referencing it
• DOutsourcing all compliance to an external auditor

A real estate management firm wins a new institutional client whose portfolio is double the firm's current AUM. From an AMO governance standpoint, the FIRST organizational priority is:

• AOrdering new branded coffee mugs
• BConfirming the firm has the staffing, trust accounts, and insurance limits to take on the…
• CRenegotiating partner equity splits
• DUpdating the website hero image

An AMO firm's strategic plan should be reviewed by leadership at least:

• AEvery 10 years
• BAnnually
• COnly when the firm changes ownership
• DOnly when a client complains

Which of the following metrics is MOST useful for an AMO firm's executive dashboard tracking firm health?

• ANumber of branded pens distributed at trade shows
• BTrust account reconciliation timeliness, owner retention, and E&O claim frequency
• CNumber of social media likes per quarter
• DSquare footage of the firm's office

In an AMO firm, the role MOST responsible for setting risk appetite is the:

• AReceptionist
• BExecutive CPM (AMO Headship) and senior leadership
• CMarketing intern
• DProperty tenant

Which of the following best characterizes the AMO firm's relationship to the owner's investment objectives?

• AThe firm replaces the owner as fiduciary
• BThe firm acts as agent, owing fiduciary duties of loyalty, care, and full disclosure to t…
• CThe firm is the owner's marketing department only
• DThe firm owes its primary duty to tenants, not owners

An owner asks the AMO Headship to suppress a recurring water-intrusion issue from quarterly reports because the owner is preparing the property for sale. The Headship should:

• AComply silently because the owner is the client
• BRefuse and document the issue accurately, even if the owner is displeased
• CSoften the language so a buyer cannot easily detect the issue
• DDelete prior reports referencing the issue

An AMO firm wants to expand into a new state. Which of the following is the MOST important regulatory question to answer first?

• AWhether the firm's logo translates well in the new state
• BWhether the new state requires a real estate broker license to perform property management
• CWhether the new state has its own pizza chains
• DWhether the firm's office printer is compatible with the new state

Which of the following is a typical feature of a well-drafted firm succession plan?

• AA handwritten note in the founder's desk
• BIdentification of a successor Executive CPM and a transition timeline
• CA plan to sell trust account funds to fund the transition
• DA clause prohibiting any future leadership change

What is the BEST response when an institutional client asks the AMO firm to add a service the firm does not currently offer (for example, full-service brokerage)?

• APretend the firm offers the service and outsource invisibly
• BDecline the work the firm cannot competently perform, or partner transparently
• CRefuse to communicate further with the client
• DCharge a higher fee and figure it out later

Which item belongs in the firm's annual leadership review of every managed account?

• AA coin flip
• BOwner objectives, performance against budget, and any open ethics or insurance issues
• CThe receptionist's vacation schedule
• DThe most recent celebrity gossip headlines

An AMO firm decides to merge with another management company. The merger plan should explicitly address:

• AOnly the new logo
• BTrust account migration, employment law compliance, client consent, and AMO eligibility p…
• COnly office furniture
• DOnly the new color of the corporate van

The IREM Code of Professional Ethics for AMOs primarily applies to:

• AOnly the firm's CEO
• BThe accredited firm and its actions as a real estate management company
• COnly tenants
• DOnly third-party brokers

Which of the following is the MOST consistent with the Code of Professional Ethics for AMOs when receiving a vendor referral fee?

• AAccept it quietly without disclosure
• BDisclose the referral fee to the owner in writing and only accept with owner consent
• CTell the owner only after the fee is spent
• DPocket the fee personally as compensation

A vendor offers the AMO firm's procurement manager a $300 gift card during the holidays. Which response is MOST aligned with AMO ethics standards?

• AAccept and keep it personally
• BDecline politely, citing firm gift policy, and document the offer
• CAccept but split it among the office
• DDemand a larger gift card before deciding

An AMO firm's Code obligations include duties to:

• AOnly the firm's owners and shareholders
• BOwners, tenants, employees, the public, and other AMO firms
• COnly governmental regulators
• DOnly the firm's marketing partners

Which of the following describes a typical conflict-of-interest disclosure standard in an AMO firm?

• ADisclose only material conflicts in writing, after they have occurred
• BDisclose any actual or potential conflict in writing, in advance, and seek owner consent
• CNo disclosure is required if the firm believes no harm will result
• DDisclosure may be oral only

An AMO firm owns a janitorial subsidiary and considers awarding the contract for a managed property to its own subsidiary. Which path complies with the AMO Code?

• AAward silently because the firm controls the decision
• BDisclose the affiliation in writing, document competitive pricing, and obtain owner conse…
• CAward and add a markup to compensate the firm
• DAward and bury the affiliation in a footnote of next year's annual report

Which of the following best describes the AMO firm's obligations to tenants under the Code?

• ATreat tenants with honesty and respect, and respond to legitimate maintenance and habitab…
• BMaximize tenant rent regardless of habitability
• CIgnore tenant complaints to focus on owner returns
• DDisclose owner financial details to tenants on request

An AMO firm hires a former employee of a competitor AMO firm. The new hire offers to bring confidential client lists from the prior employer. The proper response is:

• AAccept the lists to accelerate growth
• BReject the lists; confidential information from a prior employer is off-limits
• CAccept the lists and rename them
• DAccept the lists if the prior employer goes out of business

Which advertising statement is MOST consistent with AMO Code requirements for truthful representation?

• A"We are the largest property management firm in the world" (without evidence)
• B"AMO-accredited since 2010, managing more than 5,000 units in three states" (verifiable)
• C"Guaranteed rent increases for every owner"
• D"We never have any vacancies"

Which of the following describes a typical IREM AMO ethics complaint process?

• AAnonymous complaints are auto-published
• BA formal written complaint is reviewed by an IREM ethics body, with notice to the firm an…
• CComplaints can only be filed by the IREM CEO
• DComplaints are decided by random member vote

Possible sanctions for an AMO firm found to have violated the Code can include:

• ASuspension or revocation of AMO accreditation
• BA free trip to a vendor conference
• CA bonus payment from IREM
• DAutomatic transfer of all client portfolios to IREM

An AMO firm's confidentiality obligation typically extends to:

• AOnly client financial statements
• BAll non-public client and tenant information learned in the course of management
• COnly tenant social media accounts
• DOnly the firm's own marketing strategy

An AMO firm receives a subpoena for tenant records. The firm should FIRST:

• AHand over everything immediately
• BConsult counsel about scope and notify the affected client/owner where appropriate
• CDestroy the records to avoid disclosure
• DRefuse to acknowledge the subpoena

Which of the following is an example of an AMO firm meeting its duty to the public?

• AHiding mold in a tenant unit to preserve owner cash flow
• BPromptly disclosing material habitability defects to affected occupants and the owner
• CTelling tenants their lease prohibits any complaints
• DBribing a building inspector

An AMO firm's principal accepts an undisclosed personal payment from a contractor selected for an owner's property. Which Code provisions are MOST clearly violated?

• ALoyalty and full disclosure
• BTruthful marketing and competitor courtesy
• CTenant habitability and safety
• DOffice decoration and dress code

An AMO firm's social media manager wants to post photos that show a tenant's apartment interior to demonstrate the firm's high-end finishes. The Code-compliant action is:

• APost the photos because they show off the firm's work
• BObtain written tenant consent before posting any identifiable interior images
• CPost the photos and hope the tenant does not notice
• DPost the photos but blur out the address only

An AMO firm's CEO is a CPM who also serves on the IREM ethics review committee. A complaint against the CEO's own firm is filed. The committee should:

• ALet the CEO chair the proceeding
• BRecuse the CEO from the proceeding involving their own firm
• CDismiss the complaint
• DMove the complaint to a different organization

In the AMO Code, "full disclosure" toward owners is best understood as:

• ADisclosing only items the firm believes are important
• BDisclosing all material facts that could affect the owner's decision-making
• CDisclosing only after the firm has been asked
• DDisclosing only at year-end

Which of the following is most likely a violation of the AMO Code's duty of fair dealing toward fellow AMO firms?

• ARecruiting an employee who applied openly through a job posting
• BFalsely disparaging a competitor AMO firm to win a client
• CEarning more revenue than a competitor in the same market
• DCharging different fees than another AMO firm in town

An AMO firm's annual ethics training for staff should include all of the following EXCEPT:

• AConflicts of interest and gift policy
• BTrust accounting and confidentiality
• CSales tactics that pressure tenants into illegal lease terms
• DAnti-harassment and retaliation policies

Errors & omissions (E&O) insurance for a real estate management firm is designed to cover:

• AOwner-suffered property damage from fire
• BNegligent acts, errors, or omissions in the firm's professional services
• CTenant rent payments
• DThe firm's office holiday party