200+ Free CPM Practice Questions
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Key Facts: CPM Exam
150
Exam Questions
Open-book
70%
Passing Score
IREM
$309
Exam Fee (Member)
IREM
8 courses
Program Requirements
Plus ethics course
36 mo
Experience Required
IREM
12-18 mo
Typical Completion
IREM
The CPM exam has 150 open-book multiple-choice questions with a 70% passing score. Six domains: Finance & Budgeting (20%), Asset Management & Valuation (20%), Marketing & Leasing (15%), Human Resources & Leadership (15%), Maintenance & Operations (15%), and Ethics & Legal (15%). Requires 36 months qualifying experience, 8 IREM courses + ethics course, and MPSA completion. Total program cost: $5,000-$8,000+.
About the CPM Exam
The CPM (Certified Property Manager) certification exam from IREM validates expertise in property management including finance, asset management, marketing, leasing, human resources, maintenance operations, and ethics. The exam is open-book with 150 questions and covers 8 IREM courses worth of material.
Questions
150 scored questions
Time Limit
Not strictly timed (open-book)
Passing Score
70%
Exam Fee
$309 (member price) (Institute of Real Estate Management (IREM))
CPM Exam Content Outline
Finance & Budgeting
Budgeting, cash flow, financial reporting, accrual vs. cash accounting, budget variance analysis
Asset Management & Valuation
Financing and loan analysis, performance and valuation, asset analysis of investment real estate
Marketing & Leasing
Leasing strategies, tenant retention, market analysis, and marketing plans
Human Resources & Leadership
Building and leading property management teams, HR policies, training, performance management
Maintenance & Operations
Maintenance operations, property risk management, emergency preparedness, capital planning
Ethics & Legal
IREM ethics standards, fair housing, landlord-tenant law, risk management, legal compliance
How to Pass the CPM Exam
What You Need to Know
- Passing score: 70%
- Exam length: 150 questions
- Time limit: Not strictly timed (open-book)
- Exam fee: $309 (member price)
Keys to Passing
- Complete 500+ practice questions
- Score 80%+ consistently before scheduling
- Focus on highest-weighted sections
- Use our AI tutor for tough concepts
CPM Study Tips from Top Performers
Frequently Asked Questions
What is the CPM certification?
CPM (Certified Property Manager) is the premier property management certification from IREM (Institute of Real Estate Management). It validates expertise in finance, asset management, marketing, leasing, operations, and ethics for investment real estate management. CPM holders manage more than $500 billion in real estate assets.
How many questions are on the CPM exam?
The CPM exam has 150 open-book multiple-choice questions with a 70% passing score. The exam is administered in-person at scheduled IREM events. You must bring a laptop and HP10BII financial calculator.
What are the prerequisites for the CPM certification?
You need 36 months of qualifying real estate management experience (managing a minimum portfolio and performing 19 of 36 management functions), completion of 8 IREM courses plus ETH800 ethics course, and a Management Plan Skills Assessment (MPSA).
How long does it take to earn the CPM?
Most candidates take 12-18 months to complete the full CPM program including coursework, MPSA, and exam preparation. The program requires 200+ total hours. A Fast Track is available for holders of CCIM, CFM, CSM, PCAM, RPA, CRRP, or SIOR.
How should I prepare for the CPM exam?
The exam covers all 8 IREM courses. Focus on Finance/Budgeting and Asset Management (40% combined). Use the CPM Exam Prep Tutorial, review all course materials, and complete 200+ practice questions. Since it is open-book, focus on knowing where to find information quickly.