Chpt.19, Property Management

Question 1

A type of property management specialty that helps owners decide which properties to purchase and when to sell

Answer 1

Asset management

Question 2

Performance of regularly scheduled activities, such as painting, servicing appliances and systems

Answer 2

Preventative maintenance

Question 3

Major alterations to a buildings interior to meet a tenants particular needs.

Answer 3

Tenant improvements

Question 4

Evaluating perils of any risk in terms of options

Answer 4

Risk management

Question 5

An owners protection against financial losses due to an employees criminal acts

Answer 5

Surety bonds

Question 6

Insurance policies that offer a package of standard coverages

Answer 6

Multi peril

Question 7

Insurance policies that provide coverage against theft, burglary and vandalism; specific, not all inclusive

Answer 7

Casualty

Question 8

Insurance that covers the revenue a business loses due to a disaster

Answer 8

Consequential loss

Question 9

An investigation to determine the need for insurance and types of insurance required

Answer 9

Audit

Question 10

A document that creates the agency relationship between an owner and a property manager

Answer 10

Management agreement