RES Exam 1 Questions and Answers 2026

RES Exam 1 Questions and Answers 2025

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1.      Professional real estate management is defined as:
The administrative operation and maintenance of property to meet the objectives of the owner.

2.      During the 1920s, why did property owners begin to hire real estate managers?
Owners accumulated great wealth from their investments and were often away from their properties for long periods.

3.      Why did the Great Depression mark the beginning of modern real estate management?
For the first time, a large volume of property was gathered under one ownership, one policy, and one common perspective.

4.      What governmental corporation was created in the late 1980s to liquidate the assets of failed thrifts?
The Resolution Trust Corporation.

5.      What is the name of the association founded in 1933 that accredits property managers?
The Institute of Real Estate Management.

6.      What does the acronym "CPM" stand for?
CERTIFIED PROPERTY MANAGER®.

7.      Which of the following is not a primary responsibility of real estate management?
Buying and selling real property for owners.

8.      Which of these is a fiduciary?
A real estate manager who is an agent of a property owner.

9.      A(n) ___________ is often called upon to analyze a property's physical and financial condition and recommend ways to maximize the owner's return on investment.
Asset manager.

10.  Providing good service to tenants is an indirect way to:
Provide good service to the property owner.

11.  The amount of money required in exchange for merchandise or service is called its:
Price.

12.  The amount of goods or services available in the marketplace is called:
Supply.

13.  Prices tend to be stable when supply is equal to demand; when demand exceeds supply, prices rise; when supply exceeds demand, prices drop. These statements are called:
The laws of supply and demand.