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NEW QUESTION # 115
A commercial property was contacted by a governmental agency to schedule an upcoming property inspection. What is theMOSTappropriate way for the property manager to prepare for the inspection?
Answer: B
Explanation:
When a governmental agency conducts a property inspection, the focus is often on compliance with regulations, standards, and documented practices.Documented policies and proceduresare crucial for demonstrating that the property is being managed according to legal and operational standards. This provides inspectors with formal proof of how operations, safety, and compliance are handled.
NEW QUESTION # 116
A construction contractor has been awarded a major renovation project. What will the contractorMOSTlikely be required to provide to the property manager before proceeding?
Answer: C
Explanation:
Aperformance bondis a type of surety bond commonly required in construction projects. It guarantees that the contractor will complete the project according to the terms and specifications of the contract. This protects the property owner or manager from financial loss if the contractor fails to meet obligations.
NEW QUESTION # 117
Which of the following would be the most effective risk management tool for mitigating potential injury claims in a multi-tenant office building?
Answer: B
NEW QUESTION # 118
A property manager is attempting to balance the use of available resources against a range of capital needs, including mechanical upgrades, physical improvements, and tenant amenities. Which is theMOSTappropriate action the property manager should take?
Answer: A
Explanation:
Thepayback analysishelps the property manager assess the return oninvestment (ROI) for each proposed expenditure. This method provides a clear financial understanding of how quickly the investment will pay off, making it the most appropriate action to take when balancing capital needs with available resources.
NEW QUESTION # 119
A property manager has been given the responsibility for hiring and managing a leasing team. Which of the following is the MOST important to improve leasing outcomes?
Answer: A
NEW QUESTION # 120
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