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Updated: Jul 09, 2026
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1. The risk management process is designed to prevent a loss from occurring or to minimize the consequences of a loss after an incident has occurred.
Which of the following are the threePRIMARYclassifications of loss exposures?
A) Insurance losses, lien losses and title losses
B) Liability losses, personnel losses and property losses
C) Capital losses, operating losses and liability losses
D) Contract losses, personnel losses and force majeure losses
2. Which are the MOST important documents provided during the due diligence exercise for the property manager to use for the budget task?
A) Audited financial statements
B) Market leasing guides
C) Lease documents and addenda
D) Last year's rent roll and delinquency report
3. Which initial action MOST supports the partnership's sustainability goals for the building?
Options:
A) Recommission the building.
B) Conduct an American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) Level 1 assessment.
C) Conduct a property condition assessment.
D) Reduce operating hours.
4. The building maintenance staff is scheduled to perform routine preventive maintenance on the cooling tower motors. Which function is the technicianMOSTlikely to be trained on before the work can begin?
A) Draining the cooling tower basin
B) Properly grounding equipment
C) Locking-out and tagging-out the equipment
D) Disassembling the motor housing
5. Which type of audit is used to ensure that a building is managed in compliance with legislation, management agreements, and leases?
A) Operational audit
B) Regulatory audit
C) Financial audit
D) Engineering audit
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: B |
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