1. A property manager just signed a contract with a maintenance company for the maintenance of a client's building. As a general rule, the client will be legally bound by the manager's signature on the contract only if:

a. the client was unable to sign the contract herself for some reason

b. the contract will not last more than six months or require payment of more than $5,000

c. the client authorized the manager to enter into this type of contract on her behalf

2. A property manager who has been granted broad authority to handle matters connected with the managed property is considered to be the client's:

a. general agent

b. special agent

c. executor

3. All of the owner/investors have unlimited liability if their business is organized as a:

a. general partnership

b. limited partnership

c. corporation

4. All of these are usually considered to be among the fiduciary duties of a property manager (or any agent), except:

a. loyalty

b. accounting

c. vicarious liability

5. In regard to a client's goals, a property manager should keep in mind that:

a. financial goals always have priority over nonfinancial goals

b. the client's goals should not be allowed to take precedence over established procedure

c. the client's goals for the property may change over time