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CAM Knowledge Check: Industry Essentials

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Industry Essentials

1. What percentage of Americans lives in rental housing?

Reveal answer

Over 1/3

2. When renters decide where to rent, what three primary factors of locationdo they consider?

Reveal answer
  • Proximity to work, schools, stores, etc.
  • Walkability
  • Proximity to public transportation

3. When renters decide to rent, what 2 primary factors of life circumstance do they consider?

Reveal answer
  • Flexibility and ability to move easily
  • Reluctance to maintain a house

4. As a CAM, what do your knowledge, skills, and decisions directly contribute to?

Reveal answer

The financial success and value of a property

5. What term describes an investment to increasing in value?

6. What other factors impact investments?

Reveal answer
  • Risk: The possibility of losing some of an initial investment
  • Income: The expected financial return from an investment
  • Liquidity: The ease with which an asset can be converted to cash

7. When playing the role of an investor advocate, who is included?

Reveal answer
  • Owners
  • Investors
  • Lenders

8. When playing the role of an resident advocate, who is included?

Reveal answer
  • Residents
  • Prospects
  • Neighbors
  • Employees

9. What is the key to advocating for all groups?

Reveal answer

Maintain ethics and balance

10. What types of affordable housing are available?

Reveal answer
  • Section 8
  • Low Income Housing Tax Credit (LIHTC)
  • Workforce Housing

11. What types of senior housing are available to people over 55?

Reveal answer
  • Independent Living
  • Assisted Living
  • Full Service or Continuing Senior Care

12. In what type of housing do residents own a “share” of the property and occupy a unit as if they were owners?

Reveal answer

A co-op.

13. What are the differences among mid, low, and high rise apartment buildings?

Reveal answer
  • A low rise has 4 stories or fewer
  • A mid-rise has 5-10 stories
  • A high rise has more than 10 stories

14. What is a corporate apartment?

Reveal answer

A fully furnished apartment equipped with all necessary amenities.