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BOMI International RPA Capstone Experience Sample Questions:

1. A property manager plans to solicit competitive bids to modernize all elevators in a high-rise office building. Which of the following will the property manager use to assess potential bidders' ability to perform and complete the requirements of the project?

A) Expression of interest (EOI)
B) Request for information (RFI)
C) Request for qualification (RFQ)
D) Request for proposal (RFP)

2. The building owner wants to profit $150,000 annually on the prospective lease. What is the minimum lease rate required to meet the owner's objectives?
Options:

A) $7.14 per square foot
B) $15.14 per square foot
C) $13.00 per square foot
D) $14.51 per square foot

3. A real estate services company wants to obtain additional insurance coverage beyond the limits of its general commercial liability insurance. Which of the followingBESTdescribes the type of insurance that the company should purchase?

A) Combined single limit (CSL) of liability
B) Incidental malpractice liability insurance
C) Rental reimbursement insurance
D) Umbrella liability insurance

4. The property manager has been tasked to prepare next year's budget by the asset manager.
This is the first assignment given since the acquisition, and the only available information is from the due diligence material described.
Which is the MOST appropriate action for the property manager to take?

A) Obtain the partnership's pro forma budget.
B) Determine the partnership's goals, including the expected holding period.
C) Update budgets from prior year.
D) Prepare a draft budget to show knowledge of the local market.

5. A tenant in a commercial building is considering moving to a competitor's property. Which of the following strategies would be most effective in encouraging the tenant to remain in the building?

A) Inform the tenant that no changes can be made to their lease terms.
B) Allow the tenant to sublease without any restrictions.
C) Offer a rent reduction or financial incentive.
D) Improve the building's amenities and offer custom space improvements.

Solutions: