Sae - Property Management (Texas) Study Guide Graded A+

Which statement regarding reserves is incorrect? {Ans: A. Reserve amounts are established based on the age, size, and residential profile of the property B. Older, larger properties will need more money in reserves to pay for repairs, etc. C. Reserves are held by the property manager to pay services providers and other costs associated with managing the property *D. The money for reserves comes from the property manager's own business accounts}Which of the following types of properties do commercial real estate property managers typically NOT work with? {Ans: A. Hospitality properties B. Restaurants C. Single-family residential D. Retail}Which of the following innocent activities could present a risk for starting a fire? {Ans: A. Using a space heater B. Smoking C. Cooking *D. All of these could potentially cause a fire}The ________ is responsible for reviewing all other government agencies' EIS {Ans: Environmental Protection Agency}Which of the following types of residential properties would have a higher cap rate? {Ans: A. Class A Multifamily B. Class B Multifamily C. Class C Multifamily *D. Class D Multifamily}The three main types of cooperatives are: equity cooperatives, limited equity cooperatives, and ___________ cooperatives. {Ans: Leasehold}