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Leadership and Human Resources Flashcards

6 cards from real CPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Leadership and Human Resources flashcards as text

  1. What is 'benchmarking' in property management performance measurement?

    Answer: Comparing a property's performance metrics to industry standards or peer properties

    Benchmarking compares a property's key metrics—NOI, occupancy, expense ratios—against industry standards or comparable properties to identify areas for improvement.

  2. Which management style involves allowing experienced employees to work autonomously with minimal supervision?

    Answer: Laissez-faire / delegative leadership

    Laissez-faire leadership provides minimal direction to competent, self-motivated employees, trusting them to manage their own work.

  3. What does 'span of control' mean in organizational management?

    Answer: The number of direct reports a manager supervises

    Span of control refers to the number of subordinates who report directly to a single manager.

  4. What is the primary legal risk of misclassifying employees as independent contractors?

    Answer: Liability for unpaid payroll taxes, benefits, and overtime under federal and state law

    Misclassifying employees as contractors exposes employers to back payroll taxes, unpaid overtime, benefits liability, and significant penalties from the IRS and DOL.

  5. Which of the following best describes 'management by objectives' (MBO)?

    Answer: A goal-setting process where managers and employees collaboratively define specific, measurable objectives

    MBO is a participative process where managers and employees jointly set measurable goals, then evaluate performance against those agreed-upon objectives.

  6. What is the IREM requirement for CPM candidates regarding professional experience?

    Answer: 3 years of qualifying real estate management experience at the management executive level

    IREM requires CPM candidates to have a minimum of 3 years of qualifying real estate management experience, specifically at the management executive level.