An unexpected elevator repair charge was incurred. Due to the unanticipated change in the budget, the information needed to be written directly on the invoice, but it was coded incorrectly. What step in the process isESSENTIALto ensuring that the correct vendor is paid?

• A.Enter the invoice into a pending payable file.
• B.Post vendor payments.
• C.Reconfirm the vendor number.
• D.Use petty cash.

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A construction contractor has been awarded a major renovation project. What will the contractorMOSTlikely be required to provide to the property manager before proceeding?

• A.Fidelity bond
• B.Municipal bond
• C.Performance bond
• D.Treasury bond

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Which of the following would occur in a Phase II Environmental Site Assessment?

• A.Review of soil and water samples
• B.Review of compliance with statutes
• C.Review of past and current property activities
• D.Review of adjacent and surrounding properties

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A property manager who previously used an in-house staffing model for cleaning services has decided to contract with a vendor due to fluctuating seasonal occupancy. What is the BEST solution to negotiate cleaning services of a building with fluctuating occupants?
Options:

• A.Research market wages.
• B.Calculate cost of supplies.
• C.Determine credit allocations.
• D.Determine scope of work.

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A property manager is reporting on monthly variances to the asset manager of an office building. The annual budget for custodial expenses is $660,000. Lastmonth, custodial expenses were $61,000. What is the variance against the budget?

• A.Negative variance of $6,000
• B.Negative variance of $599,000
• C.Positive variance of $6,000
• D.Positive variance of $599,000

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