Free CAPS Practice Questions

Question 1

'We are 96% occupied, so our 85% economic occupancy must be a reporting error,' a property manager says. The report defines economic occupancy as rent collected for the current month divided by that month's market gross potential rent. Unit inventory and reporting periods have been reconciled. Which finding would explain both reported results?

Accepted Answer

Occupied households received rent concessions that reduced the month's apartment-rent collections.

Answer

More prospects canceled tours, while occupied households' contract rents and collections stayed unchanged.

Answer

Several vacant units received future-start leases that generated no current-month rent collections.

Answer

Additional make-ready payroll increased the expense of returning vacant apartments to service.

Question 2

An apartment community reports annual net operating income of $1,140,000 before debt service. That figure includes a $60,000 operating refund that will not recur. A necessary maintenance position was vacant throughout the year; restoring it will add $90,000 in annual payroll and benefits, with no offsetting expense reductions. All other income and expenses are sustainable. Annual principal-and-interest payments of $630,000 are reported below NOI. Using a market-supported 6.0% capitalization rate, what property value does stabilized NOI support?

Accepted Answer

$16,500,000

Answer

$6,000,000

Answer

$18,000,000

Answer

$19,000,000

Question 3

Three leasing employees begin submitting incomplete renewal files after a software conversion. The approved workflow requires them to enter already-authorized concessions. All three correctly demonstrate the procedure in a training account. In production, however, the required field is unavailable; a manager with a different access role can see it. The site manager recommends written warnings for careless processing. Where should the corrective effort begin?

Accepted Answer

Correct production access, then confirm accurate processing on live files.

Answer

Retrain the employees on concession entry before the next renewal cycle.

Answer

Centralize concession entry with managers as the ongoing operating procedure.

Answer

Enforce the warning policy for repeated incomplete renewal files.

Question 4

During an evening call, a maintenance technician reports water spreading across a mechanical-room floor toward electrical equipment that is still energized. The technician proposes entering the water to reach the shutoff valve. The portfolio supervisor has authority to activate the property's emergency response without prior owner approval. Which instruction takes priority?

Accepted Answer

Keep everyone out of the affected area and summon qualified emergency assistance.

Answer

Have the technician reach the water valve first to limit damage before requesting electrical assistance.

Answer

Send the technician in to document conditions before withdrawing and starting the insurance notification.

Answer

Dispatch the on-call plumber to stop the leak before arranging to interrupt the building's power.

Question 5

The draft June variance comment reads, 'Repairs finished under budget through tighter vendor control.' The accrual-basis statement, however, omits a material invoice for plumbing work completed and accepted in June. The invoice was entered in July, no June accrual was recorded, and June's ownership package has not been issued. Which correction should replace the draft's conclusion?

Accepted Answer

The missing expense overstates June NOI; correct the accrual and retain the approved budget for comparison.

Answer

The lower June cash outflow supports the favorable variance even though the work was completed.

Answer

The variance is a timing difference; retain June's statement and let July's expense offset it in year-to-date results.

Answer

The expense belongs in June, with an equal increase to June's approved repair budget to preserve comparability.

Question 6

Four finalists for a property-manager position have passed the same experience and reference checks. The company's selection rule requires an overall score of at least 80 and independent completion of three essential work samples: budget interpretation, employee coaching, and service prioritization. Among candidates who meet both requirements, the highest overall score wins. Nina scores 91 but needs repeated prompts during coaching. Owen scores 86 and completes all three independently. Priya scores 83 and completes all three independently. Rafael scores 89 but needs repeated prompts during budget interpretation. Whom should the portfolio supervisor recommend?

Accepted Answer

Owen

Answer

Nina

Answer

Priya

Answer

Rafael

Question 7

A make-ready team agreed to reduce average turnaround from nine days to six days or less within 60 days, while keeping repeat repairs at or below 5%. The team now averages 5.7 days, but 13% of completed turns require a repeat repair within the same defined follow-up period. The supervisor is preparing the team's performance review. What do these results establish?

Accepted Answer

The team met its speed target but missed the combined speed-and-quality goal.

Answer

The overall goal was met because turnaround improved beyond the required level.

Answer

The quality threshold should be reset to reflect the team's new operating pace.

Answer

The faster workflow should be suspended and the previous method restored for all turns.

Question 8

At a required compliance test, a property's debt-service coverage ratio is 1.18 against a loan covenant minimum of 1.25. The agreement defines the ratio as annual property NOI divided by scheduled annual principal and interest. Every loan payment is current. The owner proposes depositing additional equity into the operating account, without paying down or modifying the loan. The agreement has no provision allowing an equity contribution to cure this ratio. Which statement accurately describes the position?

Accepted Answer

The covenant remains unmet; the contribution improves liquidity but does not increase property NOI.

Answer

The covenant is satisfied because a ratio above 1.00 demonstrates that debt payments are covered.

Answer

The contribution restores compliance when it is recorded as cash available for the next debt payment.

Answer

The ratio should exclude principal payments because they increase the owner's equity in the property.

Question 9

At a conventional apartment community covered by the Fair Housing Act, a resident with a known mobility disability requests a reserved space near her entrance. Management already knows why the shorter walking distance is necessary. A suitable unassigned space is available, no construction is required, and reserving it would create no undue burden or fundamental change in operations. The manager objects that the lease promises first-come, first-served parking. How should management resolve the request?

Accepted Answer

Reserve the available space and record the exception as a reasonable accommodation.

Answer

Notify the resident when a nearby unassigned parking space becomes available.

Answer

Require a fresh medical certification before granting the requested parking exception.

Answer

Offer a ground-floor transfer while retaining first-come, first-served parking.

Question 10

At an operator covered by federal employment discrimination law, a supervisor documents repeated missed reporting deadlines and obtains HR approval for a written warning consistent with comparable cases. The manager has adequate training and resources. Before delivering the warning, the supervisor learns that the manager has filed a discrimination complaint about separate events. An impartial complaint investigation is being arranged. Which approach appropriately handles both matters?

Accepted Answer

Reconfirm the warning's independent basis with HR, then apply it consistently while the complaint is investigated.

Answer

Replace the warning with an involuntary transfer to separate the manager from the supervisor.

Answer

Freeze the performance process until the discrimination investigation reaches a final conclusion.

Answer

Increase reporting checks beyond those used for peers to establish additional support for the warning.

Free CAPS Practice Questions

Domain 1: CAPS I - Marketing and Communicating with the Aging-in-Place Client

Question 1

Question 2

Question 3

Question 4

Domain 2: CAPS II - Design Concepts for Livable Homes and Aging-in-Place

Question 5

Question 6

Question 7

Domain 3: CAPS III - Details and Solutions for Livable Homes and Aging-in-Place

Question 8

Question 9

Question 10

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