classification of description code questions domain 1 ...customer service techniques in order to...

CAM Parts I and II: Job Analysis Report 15

Table 8: Test Specifications, Part I of the CAM Examination

Description Classification

Code

Number of

Questions

Domain 1: Managing the Sales Process 010000 17

Task 1: Develop a marketing plan by analyzing relevant data in order to maximize occupancy and revenue.

010100 2

Knowledge of:

1. Components of a marketing plan 010101

2. Strategies for developing a marketing plan 010102

3. Surrounding market (e.g., neighborhood, region, demographics, economic data, competition)

010103

4. Attributes of the property (e.g., strengths, drawbacks) 010104

5. Marketing techniques (e.g., outreach, promotions) and media selection(e.g., Apartment publications, Internet, newspaper)

010105

Skill in:

6. Market Research 010106

7. Market Analysis 010107

8. Effective written and verbal communication 010108

9. Business writing 010109

Task 2: Monitor the marketing plan by evaluating progress and making necessary adjustments in order to maximize success.

010200 3

Knowledge of:

1. Market statistics 010201

2. Property reporting statistics (e.g., closing percentage, traffic, sources of traffic)

010202

3. Benchmarking and Best Practices 010203

4. Appropriate alternatives 010204

Skill in:

5. Interpreting reports and statistics 010205

6. Selecting appropriate alternatives 010206

7. Communicating effectively 010207

8. Aligning the marketing plan to the owner's goals and objectives 010208

Task 3: Manage the sales team by monitoring and coaching performance in order to achieve sales goals.

010300 4

Knowledge of:

1. Leasing process 010301

2. Coaching practices 010302

3. Marketing plan and sales goals 010303

4. Motivation strategies (e.g., recognition, accountability, goal setting) 010304

5. Situational leadership 010305

6. Employment laws 010306

Skill in:

7. Selling 010307

8. Closing 010308



Code

Number of

Questions

9. Training 010309

10. Motivating 010310

11. Establishing goals 010311

12. Coaching 010312

13. Evaluating sales productivity relative to goals 010313

Task 4: Maintain product readiness by inspecting all of its marketing aspects on a daily basis in order to ensure desirability and maximize the customer's experience.

010400 4

Knowledge of:

1. Marketing path (e.g., tour route) 010401

2. Attributes of an effective tour 010402

3. Inspection process 010403

4. Customer expectations 010404

5. Brand identity in the market 010405

6. Property maintenance 010406

Skill in:

7. Establishing high standards for product readiness 010407

8. Developing a team relationship between maintenance and leasing personnel

010408

9. Defining customer expectations 010409

10. Defining property image through all media avenues 010410

Task 5: Comply with local, state, and federal regulations that impact sales and marketing by training and monitoring sales employees in order to ensure equitable treatment and mitigate risk.

010500 4

Knowledge of:

1. Fair housing laws and regulations 010501

2. Laws and regulations addressing accessibility for the disabled 010502

3. Occupancy standards 010503

Skill in:


5. Training 010505

6. Exercising good judgment 010506

7. Practicing consistent documentation 010507

Domain 2: Managing Resident Relations 020000 26

Task 1: Present the company image by drawing on knowledge of its policies and procedures and behaving professionally in order to establish a positive reputation and encourage resident retention.

020100 4

Knowledge of:

1. Company standards, policies, and procedures (e.g., dress code, mission statement, ethical standards)

020101

2. Prevailing standards for personal appearance and behavior 020102

3. Image and brand awareness 020103

Skill in:



Code

Number of

Questions

4. Communicating company standards, policies, and procedures in both verbal and written form

020104

5. Monitoring and responding to employee performance 020105


Task 2: Maintain ongoing and consistent communication with residents using established channels and appropriate media in order to encourage resident retention.

020200 4

Knowledge of:

1. Standards related to business communications 020201

2. Strategies for communicating with different audiences 020202

3. Communication preferences of residents 020203

4. Legal requirements for essential communications 020204

Skill in:

5. Formatting various documents consistent with their purpose 020205

6. Communicating effectively using a variety of vehicles and mediums 020206

7. Aligning the medium of communication to the message 020207

Task 3: Create a positive resident service atmosphere using effective customer service techniques in order to encourage resident retention.

020300 4

Knowledge of:

1. Customer service principles (e.g., communication, attitude, relationships)

020301

2. Effective customer service techniques 020302

3. Resident expectations 020303

4. Levels of authority and response 020304

Skill in:



7. Leading by example 020307

8. Controlling emotions 020308

Task 4: Resolve issues using established conflict resolution techniques in order to encourage resident satisfaction.

020400 4

Knowledge of:

1. Conflict resolution techniques (e.g., listening, empathizing, taking action)

020401

2. Levels of authority and response 020402

3. Resident expectations 020403

Skill in:




Task 5: Provide fair and equitable treatment for all applicants and residents consistent with local, state, and federal fair housing regulations in order to maintain equal housing opportunities.

020500 5



Code

Number of

Questions

Knowledge of:

1. Local, state, and federal fair housing laws and regulations 020501

2. Requirements of the Americans with Disabilities Act 020502

3. Intent v. effect and disparate treatment 020503

4. Trends in complaints (e.g., linguistic profiling) and potential areas of concern

020504

Skill in:


6. Applying applicable laws and regulations to decision making 020506

7. Practicing equitable treatment 020507


Task 6: Enforce company policies consistent with landlord/tenant and contract law in order to promote and protect the interests of residents and owners.

020600 5

Knowledge of:

1. Landlord/tenant laws and regulations 020601

2. Elements of a contract 020602

3. Laws pertaining to contracts 020603

4. Types of law (e.g., statutory, case, common) 020604

Skill in:



7. Practicing equitable treatment 020607


Domain 3: Managing the Physical Property 030000 15

Task 1: Conduct physical inspections of the property on a systematic basis in order to comply with local, state, and federal regulations, minimize risk, and maintain curb appeal.

030100 3

Knowledge of:

1. Elements of a physical inspection 030101

2. Local, state, and federal regulations (e.g., occupational health and safety, habitability, security measures)

030102

3. Lender and agency expectations for property condition 030103

4. Risk management factors 030104

5. Elements of curb appeal 030105

6. Energy and resource conservation applications 030106

Skill in:

7. Performing a physical property inspection 030107

8. Applying local, state, and federal regulations 030108

9. Completing appropriate documentation 030109

10. Applying loss prevention techniques 030110

11. Examining and enhancing resource and energy management 030111



Code

Number of

Questions

12. Maintaining curb appeal (e.g., landscaping, signage, exteriors, amenities)

030112

Task 2: Perform preventive maintenance on a continual basis in order to preserve the property and reduce operating expenses.

030200 2

Knowledge of:

1. Life expectancy of building components 030201

2. Elements of preventive maintenance 030202

3. Relationship between preventive maintenance and operating expenses

030203

Skill in:

4. Developing a preventive maintenance program 030204

5. Assigning personnel to complete work 030205

6. Monitoring the preventive maintenance program 030206

7. Evaluating the condition of building components 030207

8. Deciding whether to repair or replace building components 030208

Task 3: Monitor the service request process by tracking completions and conducting follow‐up in order to improve resident satisfaction and optimize property performance.

030300 4

Knowledge of:

1. Initial service request process (e.g., receipt, enter, distribute) 030301

2. Service request tracking 030302

3. Work performance follow‐up 030303

Skill in:

4. Monitoring the service request process 030304

5. Tracking completions 030305

6. Conducting follow‐up 030306

7. Analyzing employee productivity 030307

8. Reviewing service request completions for the purpose of inventory control

030308

Task 4: Manage the apartment turnover process by establishing and enforcing quality standards in order to improve marketability and optimize property performance.

030400 3

Knowledge of:

1. Apartment turnover process 030401

2. Industry standards related to turnovers 030402

3. Relationship between apartment turnover quality and property marketability

030403

4. Apartment down time and its financial impact on the property 030404

Skill in:

5. Managing the turnover process 030405

6. Inspecting for quality of workmanship 030406

7. Aligning apartment turnovers with market demand 030407



Code

Number of

Questions

8. Identifying the impact of the turnover process on the property's finances

030408

Task 5: Manage the use of contractors by evaluating property needs and capacity in order to maximize property resources.

030500 3

Knowledge of:

1. Types of contractors (e.g., carpenters, pest control, painters) and typical scopes of work

030501

2. Contract bidding process 030502

3. Laws that pertain to contracts 030503

4. Vendor relationship management 030504

5. Cost benefit analysis 030505

Skill in:

6. Evaluating property needs and capacity (e.g., skills, time, licenses) 030506

7. Managing the use of contractors 030507

8. Soliciting and evaluating bids 030508

9. Negotiating contracts 030509

10. Monitoring contractor performance 030510

11. Maintaining vendor relationships (e.g., ethics, communication) 030511

Domain 4: Managing Personnel 040000 26

Task 1: Comply with employment regulations using a thorough understanding of the laws in order to ensure that applicants and employees are treated equitably.

040100 4

Knowledge of:

1. Pre‐employment laws and regulations 040101

2. Employment laws and regulations 040102

3. Post employment laws and regulations 040103

4. Federal, state and local employment commissions and regulatory agencies

040104

Skill in:

5. Applying employment laws 040105


7. Reporting and documentation 040107

Task 2: Recruit high caliber talent using fair practices in order to secure a well‐qualified pool of applicants.

040200 2

Knowledge of:

1. Job description and expectations 040201

2. Available recruiting methods (e.g., newspaper, Internet, recruiting agencies)

040202

3. Various sources of talent (e.g., universities, vocational schools, current employees)

040203

4. Behavior‐based interviewing 040204

5. EEOC guidelines 040205

Skill in:



Code

Number of

Questions

6. Interviewing 040206

7. Evaluating and decision making 040207

8. Ascertaining best resources for qualified candidates 040208

9. Communicating company information (e.g., benefits, wages, requirements) accurately

040209

Task 3: Hire high caliber employees using consistent and proven practices in order to develop a well‐qualified and engaged team and reduce the number of mistakes in hiring.

040300 2

Knowledge of:

1. Components of an offer letter 040301


3. Pre‐employment requirements and regulations about their use (e.g., drug testing, credit and background checks, testing)

040303

Skill in:

4. Negotiating wages and benefits 040304


6. Completing new hire paperwork 040306

Task 4: Orient new employees using thorough and consistent processes in order to promote a successful start with the company.

040400 2

Knowledge of:

1. Culture and requirements of the company 040401


3. Employee handbook 040403

4. Benefits 040404

5. Attributes of the community (e.g., office, shop, grounds) 040405

Skill in:

6. Training and motivating employees 040406


8. Detailing all aspects of new employee onboarding 040408

Task 5: Train employees using appropriate methods in order to promote optimal performance.

040500 3

Knowledge of:

1. Typical company policies and procedures 040501

2. Job descriptions and expectations 040502

3. Basic industry skillsets and knowledge by role 040503

Skill in:

4. Individualizing a professional development plan for each employee 040504

5. Measuring performance to thresholds and benchmarks 040505

6. Securing access to training programs and learning opportunities 040506

Task 6: Evaluate the performance of employees using a systematic process in order to establish goals for professional development.

040600 2

Knowledge of:

1. Performance evaluation process and tools 040601



Code

Number of

Questions


3. Typical company policies and procedures 040603

Skill in:


5. Documenting outcomes 040605

6. Establishing goals 040606

7. Measuring performance against goals 040607

Task 7: Coach employees proactively in order to encourage their professional development.

040700 3

Knowledge of:


2. Motivation strategies 040702

3. Learning processes 040703

4. Coaching strategies 040704

Skill in:

5. Motivating employees 040705


7. Documenting progress against targets 040707

Task 8: Counsel employees in a clear and timely manner in accordance with the company’s requirements for documentation in order to improve performance.

040800 3

Knowledge of:


2. Typical corrective action procedures 040802

3. Constructive criticism 040803

4. Motivation strategies 040804

Skill in:

5. Identifying goals and precise steps for improvement 040805


7. Motivating employees 040807

8. Documenting progress against improvement goals 040808

Task 9: Terminate employment in accordance with company policy and pertinent law in order to preserve and enhance the performance of the team.

040900 2

Knowledge of:

1. Wrongful termination (e.g., whistleblower protection, age discrimination)

040901

2. Termination process (e.g., witnesses, paperwork, return of company equipment and apartments)

040902

3. Unemployment insurance 040903

4. Benefits continuation options (e.g., COBRA) 040904

5. Legal and typical company requirements with regard to termination 040905

Skill in:



Code

Number of

Questions


7. Showing compassion 040907


Task 10: Maintain employment records in accordance with legal requirements in order to protect the employer and employees.

041000 3

Knowledge of:

1. Typical personnel policies 041001

2. Employment laws and regulations (e.g., statute of limitations, confidentiality)

041002

Skill in:

3. Documenting relevant employment activities 041003

4. Organizing employment records effectively 041004

5. Storing employment records securely 041005

6. Maintaining the separation of health and non‐health records 041006

Domain 5: Managing and Analyzing Financial Performance 050000 16

Task 1: Analyze the financial operations of the property recognizing operating and financial interdependencies in order to maximize financial results.

050100 3

Knowledge of:

1. Financial formulas and ratios (e.g., return on investment, gross potential rent, basic percent calculations, physical occupancy v. economic occupancy, capitalization rate)

050101

2. Structure of various financial statements 050102

3. Impact of daily operations on the financial health of the property 050103

4. Variance analysis 050104

Skill in:

5. Calculating the financial position of the property using appropriate formulas and ratios

050105

6. Assessing property performance in relationship to industry standards 050106

7. Evaluating cash flow for the property 050107

8. Identifying the financial impact of daily activities on the financial health of the property (e.g., closing ratios, reduction in call backs, turnovers)

050108

9. Assessing property performance relative to the business plan 050109

10. Taking corrective action for underperforming aspects of the property

050110

Task 2: Manage the property using the strategies defined in the business plan in order to achieve the owner's investment goals.

050200 3

Knowledge of:

1. Financial projection of income and expenses for the property 050201

2. Relationship between the budget and the business plan 050202

3. Types of ownership 050203

4. Characteristics of investments (e.g., risk, liquidity, income, growth) 050204



Code

Number of

Questions

5. Financing options (e.g., types of loans) 050205

6. Return on investment 050206

7. Strategies for identifying and clarifying the owner’s investment goals 050207

Skill in:

8. Using basic math skills 050208

9. Analyzing historical reports (e.g., variances, year over year, trending) 050209

10. Forecasting future performance 050210

11. Using operational software (e.g., property management software, spreadsheets)

050211

12. Analyzing the effect of operational decisions on the financial health of the property

050212

Task 3: Record financial activity using appropriate accounting principles in order to deliver accurate and timely financial reports.

050300 3

Knowledge of:

1. Generally accepted accounting principles 050301

2. Accrual and cash accounting methods 050302

3. Property management software applications 050303

4. Structure of typical financial statements 050304

5. Factors that influence financial statements (e.g., rent roll, general ledger, aged open receivables)

050305

6. Cash management techniques 050306

Skill in:

7. Using the chart of accounts 050307

8. Using property management software 050308

9. Using financial reports to identify potential changes in operations 050309

10. Benchmarking results against industry standards 050310

Task 4: Maximize net operating income by increasing revenue and reducing expenses in order to enhance the value of the property.

050400 4

Knowledge of:

1. Formula for computing net operating income 050401

2. Fixed, variable, and capital expenses 050402

3. Income (e.g., rent income, other income, vacancy and rent collections loss)

050403

4. Pass through expenses (e.g., ratio utility billing systems, valet trash pick up)

050404

Skill in:

5. Focusing on revenue enhancement 050405

6. Negotiating property prices and costs 050406

7. Seeking creative options for increasing other income 050407

Task 5: Report the property's performance in an honest and accurate manner by adhering to prevailing ethical standards in order to demonstrate integrity and professionalism and influence the future of the property.

050500 3



Code

Number of

Questions

Knowledge of:

1. Industry and financial terminology 050501

2. Key industry success metrics (e.g., economic occupancy, closing ratios, exposure)

050502

3. Prevailing ethical standards 050503

Skill in:

4. Posting activity daily 050504

5. Ensuring the accuracy of property reports 050505


Table 9: Test Specifications, Part II of the CAM Examination


Code

Number of

Questions

Domain I. Evaluating the property 010000 23

Task : Identify and understand physical asset building and land components, including construction and condition analysis.

010100 2

Knowledge of:

1. Land use and zoning 010101

2. Survey Plats 010102

3. Basic building styles 010103

4. Construction materials 010104

5. Basic building integrity 010105

Skill in:

6. Determining unit density 010106

7. Evaluating building physical condition 010107

8. Analyzing impact of zoning on value 010108

Task 2: Identify and discuss operating activity reflected in occupancy, leased position, turnover, unit transitions from vacant, through make‐ready, occupancy, notice, and vacate.

010200 5

Knowledge of:

1. Basic property activity calculations – occupancy, residents, leased, to be vacated units

010201

2. Make‐ready process and tracking 010202

3. Turnover – reasons and reaction 010203

4. The unit turn from occupied to notice, prelease, move‐out, make‐ready, move‐in

010204

Skill in:

5. Evaluating impact of rental loss during unit down time 010205

6. Understanding the impact of reasons for turnover 010206

7. Suggesting methods to minimize unit down time 010207

Task 3: Detail property amenities and features and impact on leasing and resident satisfaction

010300 3

Knowledge of:

1. Typical property amenities – exterior and unit interiors 010301

2. Current and new amenities in the marketplace 010302

3. Value for amenities and features 010303

4. Resident surveys that measure amenity value 010304

Skill in:

5. Evaluating demand for certain amenities or features 010305

6. Determining application of new or enhanced amenities to home property

010306



Code

Number of

Questions

7. Measuring resident satisfaction with amenities and features 010307

Task 4: Describe and align resident profile with property features and marketing initiatives, offering any opportunities for improvement

010400 3

Knowledge of:

1. Current resident demographics 010401

2. Resident profile reports 010402

3. Amenity/feature matrices 010403

Skill in:

4. Determining resident desire for certain features and amenities 010404

5. Assessing availability of high demand features and amenities in marketplace

010405

6. Evaluating possible benefits from amenity/features additions or enhancements

010406

Task 5: Identify rental rate and fee pricing, impact of applicant and resident policies on income.

010500 4

Knowledge of:

1. Rental rate matrices and rent schedules 010501

2. Ancillary fee structures 010502

3. Applicant policies and processing 010503

4. Basic operating policies and use of penalty fees for non‐compliance 010504

5. Comparable property fee and rental structures 010505

Skill in:

6. Understanding marketability of rental rates and fees 010506

7. Using fees and policies to attract and retain desired applicants and residents

010507

8. Relating impact of applicant screening policies to quality of resident profile

010508

Task 6: Calculate and understand the rental matrix, floor plan analysis, and unit amenity impact in supply and demand.

010600 3

Knowledge of:

1. The elements of a basic rental matrix 010601

2. The impact of unit features and floor plan on rental rate pricing 010602

3. Supply and demand on the rental matrix 010603

Skill in:

4. Calculating square footage and rents by unit type 010604

5. Weighing the property unit mix configurations and rental rate adjustments on leased exposure

010605

6. Pricing amenities and features per current perceived value 010606

7. Aligning price with demand 010607

Task 7: Present and evaluate property marketing tools and techniques, identifying and calculating the most effective methods.

010700 3



Code

Number of

Questions

Knowledge of:

1. Basic advertising methods available 010701

2. Use of social advertising in the market 010702

3. Outreach marketing 010703

4. Sales promotions 010704

Skill in:

5. Cost‐benefit analysis for marketing results 010705

6. Evaluating the impact of marketing methods per traffic count, applicant, renewal, and lease.

010706

7. Weighing and/or applying competing methods to subject property 010707

Domain II. Evaluating market analysis data 020000 14

Task 1: Identify and locate the property within an expanded region (i.e. major metro MSA or similar)

020100 1

Knowledge of:

1. Metropolitan Statistical Areas 020101

2. Municipal, state and US relative locations 020102

3. Geographic, economic and other boundaries 020103

Skill in:

4. Understanding the impact of location on property results 020104

5. Interpreting MSA statistics for property impact 020105

6. Evaluating the value in location perception 020106

Task 2: Analyze the impact of the regional economic climate, major employers, identified industries, population size/demographics and geographic features on the property.

020200 1

Knowledge of:

1. Regional economic impactors – infrastructure, business climate, business activity

020201

2. Regional major employers and their industries 020202

3. Regional population mix, by demographic and growth 020203

4. Geographic features that attract or repel people and/or industry 020204

Skill in:

5. Locating reliable and accurate regional statistics 020205

6. Applying regional statistics to property impact 020206

7. Understanding the economic balance that attracts business and population

020207

8. Interpreting findings into suggestions for improvement 020208

Task 3: Understand and describe housing demand, supply and absorption in the region and neighborhood and relate back to the property.

020300 2

Knowledge of:



Code

Number of

Questions

1. Housing stock statistics 020301

2. Historical, current and future construction activity in region and neighborhood

020302

3. The concept of submarkets 020303

4. Calculating absorption rates 020304

Skill in:

5. Applying housing stock to population growth/contraction 020305

6. Evaluating a healthy vs. weak housing market in the region and neighborhood

020306

7. Aligning housing market features with property impact 020307

8. Predicting future demand and suggestions for response or preparation.

020308

Task 4: Identify and specifically locate the property within a neighborhood area (i.e. 5 mile radius)

020400 2

Knowledge of:

1. The elements of a typical neighborhood. 020401

2. Basic map reading 020402

3. Relative proximities 020403

Skill in:

4. Identifying major neighborhood boundaries 020404

5. Evaluating the impact of surrounding neighborhoods 020405

6. Interpreting perceived attraction/rejection of neighborhood for the property.

020406

Task 5: Identify the presence of and impact to the property of surrounding streets, housing options in the area, improvements, access to services, shopping, parks, medical, entertainment and work centers.

020500 2

Knowledge of:

1. Elements of a healthy neighborhood 020501

2. Community infrastructure and services 020502

3. Retail and entertainment access 020503

4. Education and medical services 020504

Skill in:

5. Relating neighborhood features to demand 020505

6. Interpreting impact of property ingress and egress and services (roads, utilities) on leasing and operations

020506

7. Describing impact of adjacent properties and tracts on resident lifestyles

020507

Task 6: Identify and demonstrate use of third party resources in providing statistics and data.

020600 1

Knowledge of:



Code

Number of

Questions

1. Sources of national, state and local population, economic, geographic and market statistics

020601

2. Property’s relative location 020602

3. Navigating in the neighborhood 020603

4. Reliable regional and local sources for analysis 020604

Skill in:

5. Conducting online third party data searches 020605

6. Interpreting third party neighborhood evidence into property impact 020606

Task 7: Evaluate the property versus two to four competing properties. Include a detailed overview comparing rent schedules, vacancy rates, policies, marketing strategies, resident profiles, etc.

020700 3

Knowledge of:

1. The elements of a market survey 020701

2. How to conduct a market survey 020702

3. Basic mathematical calculations to determine property performance 020703

Skill in:

4. Tactfully and accurately gathering information from competitors 020704

5. Completing the CAM Community Comparable Report, Rent schedule form and Vacancy Rate and rent per square foot form

020705

Task :. Deduce competitive advantages and challenges relative to competing housing in the local area. Make recommendations to improve market share.

020800 2

Knowledge of:

1. Creating a competitors policies matrix 020801

2. Calculating rental rate, unit size, rent per square foot averages for broad scale comparisons

020802

Skill in:

3. Interpreting the impact of competitors policies on occupancy and lease rate performance

020803

4. Applying housing stock, submarket absorption and trends to the market survey findings relative to the subject property

020804

5. Proposing reactive or proactive responses to add value or enhance operating performance at the subject property.

020805

Domain III. Evaluating financial data 030000 16

Task 1: Demonstrate understanding/application of basic property management financial concepts and techniques, including cash/accrual accounting; rent roll reports; annualization and extrapolation and returns on investments.

030100 3

Knowledge of:

1. Subject’s cash or accrual accounting method 030101

2. Basic property management software reports 030102



Code

Number of

Questions

3. How to calculate percentages and ratios from known numbers 030103

Skill in:

4. Identifying and explaining cash flow for the subject 030104

5. Tracking the general ledger to the financial statement 030105

6. Balancing rent roll reporting with cash in the bank 030106

7. Understanding liabilities in security deposits and open payables as well as receivables and collections

030107

Task 2: Identify and understand key financial records for the property (cash flow statements, property financials for actual income and budget)

030200 3

Knowledge of:

1. Basic financial report packages 030201

2. Year to date and trend performance reports 030202

3. Basic rent roll reports 030203

4. Typical owner reporting structures 030204

Skill in:

5. Understanding how operations activity is reflected in financial reporting

030205

6. Identifying variances to budget by dollar and percent depictions 030206

7. Identifying significant trends in income or expense categories 030207

8. Projecting year‐end outcomes based on trends evidenced 030208

Task 3: Analyze and identify property financial performance to budget using both property and NAA‐sanctioned templates. Articulate detailed causes of and projections for variances

030300 2

Knowledge of:

1. Property chart of accounts 030301

2. NAA standard survey income and expense reporting categories 030302

3. Property general ledger activity 030303

4. Property budgets, budgeting process and assumptions 030304

Skill in:

5. Converting property chart of accounts categories into NAA template 030305

6. Annualizing partial year numbers to complete the templates 030306

7. Identifying financial statement anomalies that impact comparison reporting

030307

8. Explaining actual financial performance to property budget and NAA survey and probable causes

030308

Task 4: Analyze and identify property financial performance to NAA region and/or metro current survey of income and expenses.

030400 1

Knowledge of:

1. Securing the NAA identified sampling 030401

2. Region’s/metro’s financial health and economics (see domain II) 030402



Code

Number of

Questions

3. Property configurations and impact 030403

Skill in:

4. Identifying variances by dollar and percentage 030404

5. Projecting possible causes for performance variances to survey 030405

6. Evaluating impact of region, sampling and property configuration on survey findings and subject performance

030406

Task 5: Understand, calculate and articulate key financial performance indicators for the property, i.e. Rent revenue, collections and concessions loss and vacancy loss as percents of GPR. Identify operating expense ratio and economic vacancy.

030500 2

Knowledge of:

1. Basic property financial performance benchmarks, i.e. collections, delinquency, ancillary income, fees and penalty income, etc.

030501

2. Ability to calculate performance from known facts 030502

3. Performance expectations as identified in owner’s budget or other trend or projection reporting

030503

Skill in:

4. Explaining performance shortages to budget or survey 030504

5. Projecting trend continuation and impact on future earnings 030505

6. Applying subject’s attributes to performance expectations and explanations.

030506

Task 6: Identify and recommend operating changes that will positively impact net operating income for the property.

030600 2

Knowledge of:

1. Basic daily property activity 030601

2. Basic daily financial functions 030602

3. Operating supplies and contracts necessary to run the property 030603

4. Challenges to the physical asset, staffing or policies that negatively impact performance

030604

Skill in:

5. Identifying ways to positively build income from present or future sources.

030605

6. Identifying ways to reduce expenses through efficiencies or re‐evaluation

030606

Task 7: Describe staffing at the property, including roles and duties and pay scales relative to industry standard. Offer review and recommendations as needed.

030700 1

Knowledge of:

1. Current staffing and pay levels at the property 030701

2. Area pay scales, income levels and trends 030702

3. Job duties and responsibilities by position 030703



Code

Number of

Questions

4. Staff benefits and policies 030704

Skill in:

5. Evaluating current pay to area and industry standards 030705

6. Evaluating benefit packages and assigning competitive value 030706

7. Calculating the overall cost of personnel to budget and standard 030707

8. Identifying staffing, pay or benefit corrections 030708

Task 8: Describe current property financial performance to the capital budget. Analyze variances and evaluate capital projects completed, underway and still needed.

030800 2

Knowledge of:

1. Proper capital expense accounting 030801

2. Current access to capital funds by amount and/or category 030802

3. Replacement reserves or funding requests 030803

4. Capital projects necessary and/or budgeted 030804

5. Scoping and bidding capital projects 030805

Skill in:

6. Understanding and explaining funding process for capital projects 030806

7. Evaluating current status of capital projects underway 030807

8. Identifying and explaining specific capital budget variances 030808

9. Projecting future capital projects and necessary budgeting to complete

030809

Domain IV. Evaluating potential economic benefits through alternatives

040000 7

Task 1: Define and understand four alternatives for adding property value (modernization, rehabilitation, improvement, and conversion).

040100 1

Knowledge of:

1. Physical property description (see domain I) 040101

2. Known health, safety or physical asset integrity needs 040102

3. Marketability or demand for property’s features and amenities 040103

4. Access to funding for capital investments 040104

Skill in:

5. Seeking creative ways to increase property demand 040105

6. Identifying opportunities to enhance marketability and cash flow 040106

7. Prioritizing value‐adding proposals for effectiveness 040107

Task 2: Define and recommend potential benefits for the property. Consider income‐build; expense reduction; asset preservation; time savings, reputation, and market share or penetration.

040200 1

Knowledge of:

1. Current and new sources for income beyond rental rate adjustments 040201



Code

Number of

Questions

2. Latest techniques and technology for efficiency, productivity and expense reduction

040202

3. Competitors’ policies, features, rents 040203

4. Residents’ wants and needs 040204

Skill in:

5. Evaluating potential threats and opportunities in additional income potential for the property

040205

6. Aligning and/or customizing potential recommendations with property’s ability to support the change

040206

7. Assigning property resources to recommendations 040207

Task 3: Analyze each alternative and its potential for adding value to the property, describing specific recommendations and using a cost‐benefit analysis

040300 1

Knowledge of:

1. Available opportunities for modernization, rehab, improvement and conversion

040301

2. Technical and logistical challenges to each alternative 040302

3. Initial cost and ongoing support and/or cost for each alternative 040303

Skill in:

4. Deconstructing alternatives into process steps 040304

5. Identifying each and every potential benefit to each alternative 040305

6. Evaluating benefits in calculable projections 040306

7. Ranking alternatives by best cost benefit 040307

Task 4: Research and apply third party data to support selected alternative(s)

040400 1

Knowledge of

1. Third party providers of goods and services for each alternative 040401

2. Proper and equal scope and bid process 040402

3. Acceptable bid variations 040403

Skill in:

4. Analyzing bids 040404

5. Assigning value to bid variations 040405

6. Selecting and justifying bid decision and intended benefit 040406

Task 5: Apply alternatives based on specific owner strategies, i.e. 12 month buy and sell, long term legacy hold, foreclosure operation, etc.

040500 1

Knowledge of:

1. Typical ownership strategies 040501

2. Typical ownership structures 040502

3. Current owner’s business model and plan for the property 040503

Skill in:



Code

Number of

Questions

4. Evaluating alternative with ownership business plan 040504

5. Modifying or revising alternative to maximize the benefit to ownership

040505

6. Identifying benefits based on multiple or unknown strategies 040506

Task 6: Demonstrate deductive analysis of selected alternative(s) applying specific implementation schedule and steps and including specific economic benefits.

040600 1

Knowledge of:

1. Approved available alternatives for economic benefits 040601

2. Scheduling of alternative project(s) 040602

3. Access to products, services, manpower as necessary to support project

040603

4. Marketing outreach or resident retention during project execution 040604

Skill in:

5. Reducing project into incremental steps and timing 040605

6. Establishing benchmarks or thresholds toward completion 040606

7. Measuring successful progress and completion 040607

8. Supporting potential property disruptions with careful planning 040608

Task 7: Calculate the projected property value as a result of the applied alternative(s).

040700 1

Knowledge of:

1. Complete and entire cost of the alternative(s) 040701

2. Additional internal costs for manhours, changes in process or protocol, resident relations, etc.

040702

3. Delivery of alternative(s)’ promised value 040703

4. Changes to original assumptions or conditions 040704

5. Capitalization of net income 040705

Skill in:

6. Assessing final and full costing for each alternative 040706

7. Measuring intended results against projected results 040707

8. Accommodating future expectations or justifications as needed 040708

9. Calculating growth in asset value due to implementation of alternative(s)

040709

classification of description code questions domain 1 ...customer service techniques in order to...

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