A portfolio supervisor evaluates an acquisition with NOI of $2,400,000 and asking price of $40,000,000. What is the going-in cap rate?
Financial Analysis
Question · Easy
Which metric best measures a property's ability to cover mortgage payments from operating cash flow?
A value-add renovation costs $8,000 per unit and generates a $125/month rent premium. What is the simple ROI (ignoring expenses)?
Asset Management
Question · Medium
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The Fair Housing Act's seven protected classes at the federal level include all of the following EXCEPT:
Fair Housing
Under HUD's 2016 guidance on criminal background screening, what is considered a fair-housing risk?
The Keating memo addresses which fair-housing topic?
A servicemember receives PCS orders. Under SCRA, they can terminate the lease with how much advance written notice?
Which accessibility requirement applies to multifamily buildings with 4+ units designed/constructed for first occupancy after March 13, 1991?
A resident with a disability requests an assistance animal despite a no-pet policy. The landlord should:
A portfolio uses revenue management software that automatically adjusts rents daily. What is the PRIMARY pricing input?
Revenue Management
Why might a revenue manager offer a 13-month lease at a lower price than a 12-month lease?
Which is the MOST important KPI for measuring true economic performance at a property?
Portfolio Strategy
A property has $2M GPR, $150K loss-to-lease, $80K vacancy, $50K concessions, $30K bad debt, and $200K other income. What is Effective Gross Income?
What does NCREIF primarily provide to institutional multifamily investors?
A Phase I Environmental Site Assessment (ESA) is conducted during due diligence primarily to:
Acquisitions Dispositions
In a waterfall distribution, the 'preferred return' refers to:
Question · Hard
A Section 1031 exchange allows a property owner to:
Regional managers typically oversee how many properties (span of control)?
Multi Site Operations
RUBS (Ratio Utility Billing System) is used primarily to:
Which insurance coverage is designed to respond to wrongful-termination, harassment, and discrimination claims from employees?
Risk Management
A property has 300 units with a current exposure of 45 units (notices + vacants). What is the exposure rate?
Under the FCRA, when denying an applicant based on a screening report, the landlord must:
The OFAC SDN list must be screened against:
The PRIMARY goal of a CapEx 5-10 year plan is to:
An investor requires a 9% IRR. A deal projects 7% IRR. NPV at 9% discount rate is:
Which is the BEST source for verifying rental market trends across a geographically diverse portfolio?
In an interior unit renovation program, the BEST way to validate rent premiums before scaling is to:
A portfolio-level dashboard for senior leadership should PRIMARILY include:
Which is TRUE about lease trade-out reporting?
Which emerging technology integrates with property management software to automate after-hours leasing inquiries?
Technology
An ALTA survey is most important during which transaction phase?
Sarbanes-Oxley (SOX) internal control requirements apply to:
Ethics Governance
The NAA Code for Sustainable Property Operations and its Lease Addendum promote:
Sustainability Esg
ENERGY STAR certification for multifamily buildings requires a score of at least:
A property's LTV is 75% on a $30M loan. What is the appraised value?
Best practice for a portfolio supervisor conducting scheduled site visits is to:
Which certification program is administered by NAAEI for on-site maintenance technicians?
Workforce Hr
Succession planning is MOST effective when it:
A centralized marketing function typically provides portfolio-wide:
Marketing Strategy
Reputation management metrics focus on:
A property's going-in cap rate is 5.0% and the pro forma exit cap in year 10 is 6.0%. This represents:
Which is the PRIMARY purpose of a post-close 'transition plan' when acquiring a property?
An effective compensation program for site teams includes:
Cybersecurity / data-breach response best practice for multifamily operators includes all of the following EXCEPT:
A portfolio supervisor notices one property consistently exceeds portfolio benchmarks for renewal rate. The BEST next step is to:
Portfolio diversification strategies may include all EXCEPT:
Discounted Cash Flow (DCF) valuation requires all of the following inputs EXCEPT:
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