Property and Asset Management Flashcards
1
Q
Procurement is a responsibility of the asset manager that refers to:
(4 points)
A
- Identify service providers
- Negotiate pricing
- Oversee vendor services/products
- Ensure best fit and pricing for client
2
Q
Sustainability efforts made by asset managers can include:
(4 points)
A
- Data tracking
- Measurement
- Analysis
- Recommended changes
3
Q
When it comes to project management, the following local knowledge is essential:
(3 points)
A
- Permitting
- Contracting
- Service providers
4
Q
One skill of a property manager is customer service. This refers to:
(4 points)
A
- Communication
- Responsiveness
- Problem solving
- Understanding building owner’s goals
5
Q
One skill of a property manager is organization. This refers to:
(3 points)
A
- Time management
- Multi-tasking
- Prioritization
6
Q
A property manager must possess the following financial skills:
(3 points)
A
- Budgeting
- Accounting
- Finanical analysis
7
Q
An important part of asset management is to maximize investment returns, meaning:
(4 points)
A
- Reducing expenditures when possible
- Finding the most consistent and highest source of revenue
- Mitigating liability and risk
- Sell smart
8
Q
What is the asset manager’s goal?
A
To maximize total return from a project
