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BOMI International RPA Capstone Experience Sample Questions:

1. A property manager is evaluating the financial performance of their portfolio. There are various ways to evaluate performance, but they will begin with evaluating actual operations and budgeted projections. The property manager requested that any difference greater than $5,000 or 5% of the budgeted amount must be explained. Which standard performance comparisonBESTdescribes this step?

A) Industry comparisons
B) Budget comparison and variances
C) Market comparable
D) Prior year comparisons

2. In addition to standard commercial liability insurance, a lease requires auto coverage for tenant-owned vehicles that are parked on the property. Which document describes how the auto insurance will be added to the commercial liability coverage?
Options:

A) Certificate of insurance (COI)
B) Claim
C) Insurance binder
D) Endorsement

3. A property manager is performing a risk assessment of a business continuity plan. What type of plan is a business continuity plan?

A) Disaster plan
B) Backup plan
C) Emergency plan
D) Service plan

4. An asset manager has been assigned the task of reviewing lease agreements for a portfolio of buildings that a client may acquire. All buildings are multi-tenant properties with low vacancy rates. What process should the asset manager use to verify tenant lease information and identify lease modifications that may impact acquisition price and transaction risk?

A) Lease abstracting
B) Asset management plan
C) Pro forma
D) Appraisal

5. Which of the following entities isMOSTlikely to be omitted from a standard property insurance policy?

A) Adjacent property owners
B) The named insured
C) Mortgagees
D) The property manager

Solutions: