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BOMI International RPA Capstone Experience Sample Questions:

1. A property manager is reviewing the annual operating budget for a commercial office building. The building's budget for energy costs is projected to be $200,000, but actual expenses for the year were $250,000. What action should the property manager take to address this overage?

A) Ignore the overage, as it was within the allowable 10% variance.
B) Report the overage in the monthly financial statement and recommend a review of energy efficiency measures.
C) Reduce the property's reserve fund to cover the additional costs.
D) Reallocate the overage from the building's capital improvements budget.

2. A property manager in a disaster-prone area wants to ensure business continuity during an emergency. What is one of theBESTways for the manager to mitigate downtime if many of the resources inside the disaster zone are not available during the crisis?

A) Develop relationships with vendors outside of the immediate area.
B) Develop relationships with large contractors in the immediate area.
C) Develop relationships with buildings outside of the immediate area.
D) Develop relationships with property management companies in theimmediate area.

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

4. A building owner and general contractor sign a contract to build an addition to a retail shopping center. Both parties agree to include a provision that specifies an amount of money to be paid by one party that is in material breach to the other party. This provision is often used when the sum of damages is difficult to predict in advance of contract execution. What is this provision called?

A) Expectation damages
B) Consequential damages
C) Restitution
D) Liquidated damages

5. Which time frameBESTreflects the budget reporting frequency required by most building owners?

A) Monthly
B) Annually
C) Semi-annually
D) Quarterly

Solutions:

Question # 1 Answer: B

Question # 2 Answer: A

Question # 3 Answer: A

Question # 4 Answer: D

Question # 5 Answer: D