CPM® Certification Exam

Preparation and Registration Information

9194.01.05
Introduction to the CPM Certification Exam
One of the key ways the integrity of the CPM® designation is maintained is through the
examination process. The CPM certification exam is one of the principle tools IREM® uses to
validate the competency of those who are seeking the CPM designation. To become a CPM, an
individual must pass the CPM certification exam, in addition to meeting other requirements.

The exam can be taken:

1. As part of a scheduled group offering, many of which are preceded by an exam prep
seminar. (To review the schedule and to register, go to www.irem.org.)
2. Individually through IREM proctors. (Register using the form at the back of this
booklet.)
3. In conjunction with national IREM conferences. (To review the schedule and to register,
go to www.irem.org.)
4. At the conclusion of these IREM courses that were offered prior to 1998:
Course 400: Managing Real Estate as an Investment
and
Any one of the following:
Course 301: Marketing and Management of Residential Property
Course 302: Leasing and Management of Office Buildings
Course 303: Management and Leasing of Shopping Centers and Retail Space
Course 305: Professional Management of Government Assisted Housing

Exam Content
The certification exam measures the competency required to perform the 35 functions IREM
uses to define a professional real estate manager. These functions are divided into five
competency areas, as noted in the chart on pages 3-4. The exam is comprised of 150 multiple-
choice questions and also covers the same competency areas.

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Competency 35 Functions Used by IREM to Define a Real Estate Manager
for the CPM Program

Maintenance ! Identify, implement and monitor, or approve, energy use/conservation programs for
and the property.
Operations ! Determine which items or services are to be purchased for the property, prepare
specifications, solicit and evaluate bids for contract services, negotiate or approve
contracts, and monitor contracts.
! Oversee operation of building systems, supervise employees or monitor
contractors who perform routine maintenance and repair work, and/or oversee
planning and construction of tenant improvement and interior design.
! Design, implement and monitor, or approve, preventive maintenance programs for
the property.
! Establish or maintain and enforce the property’s operating policies and procedures
and occupancy/usage guidelines.
! Establish, maintain and monitor adherence to, or approve, the property’s record
keeping system.
! Identify, analyze and implement, or approve, capital improvement or replacement
programs, including but no limited to maintenance or remodeling programs and
resident/tenant improvements.
! Perform regular property inspections and take appropriate action in accordance
with established policies and procedures.
! Hire, manage and evaluate site personnel and/or off-site management staff or
Human contracted management firms, directly or through others.
Resource
! Identify staffing requirements and develop, or approve, job descriptions and/or
Management
develop and monitor, or approve, human resource policies and training and
development plan.

Marketing and ! Design and implement, or approve, resident/tenant retention, orientation and
Leasing property familiarization programs.
! Routinely communicate with occupants of the property concerning level of service
and other management matters and/or investigate and resolve resident/tenant
complaints.
! Administer the leasing and lease renewal process and/or negotiate or approve
leases.
! Prepare, market and show leasable space.
! Prepare, approve or execute a marketing plan for the property.
! Analyze market conditions and recommend, or approve, the property’s rental rates.

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Financial ! Process and/or monitor, or approve, property payables.
Operations ! Supervise property collections, including the handling of property receipts, journal
and Asset entries, records of account, bank deposits, and delinquent accounts.
Management ! Prepare, present and implement annual property budges, including capital
expenditure budgets, or review, authorize and monitor such budgets prepare by
others.
! Prepare, analyze or approve the property’s financial and operating statements and
variance reports.
! Approve major deviations from the budget, exclusive of emergencies.
! Identify and analyze the property’s financial requirements and financing options,
and/or replacement reserve requirements, and recommend funding sources to the
owner.
! Estimate and monitor the market value of the property and assess the implications
that estimates of value have on the owner; determine the reasonableness of
assessed value and insurable value.
! Identify, analyze and propose alternate uses of a property and implement or
approve a plan to change a property’s use, or approve such a plan (e.g., converting
a residential building to commercial use.)
! Read and interpret loan document requirements.
! Establish or maintain management controls and analyze the property’s
performance.
! Identify and recommend or approve real estate assets for acquisition or disposition.
! Determine the goals and objectives of the property owner.
! Evaluate real estate tax assessments and recommend an appeal strategy to the
owner when appropriate.
! Prepare a management plan for the property.
! Identify and recommend or approve alternate sources of income for the property
and implement programs accordingly.

Legal and ! Design, implement or approve life-safety and emergency preparedness programs
Risk for the property.
Management ! Develop, implement or approve a risk management program for the property an/or
identify the property’s insurable risks and recommend, secure and monitor
insurance coverages.
! Recommend an/or initiate legal actions for violations of leases, contracts or
governing documents, including but not limited to, evictions and filing of liens.
! Ensure the property’s compliance with government and environmental regulations.

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Preparing for the Exam
Education is the foundation upon which the CPM designation is built. In addition to passing the
CPM certification exam, you must meet the education requirement by fulfilling one of these
three options:

Option 1: IREM Courses. To maximize your understanding of the course content, it is

strongly recommended that you take the following eight required courses in the order listed.
1. One MKL400-level course:
! Marketing and Leasing: Retail Properties (MKL404)
! Marketing and Leasing: Multifamily Properties (MKL405)
! Marketing and Leasing: Office Buildings (MKL406)
2. HRS402: Developing Human Resource Strategies
3. MNT402: Maintenance Operations and Risk Management
4. FIN402: Managing Investment Real Estate: Financial Tools
5. ASM603: Commercial Real Estate Financing and Valuation: Part One
6. ASM604: Commercial Real Estate Financing and Valuation: Part Two
7. ASM605: Cash Flow Analysis: Practical Application
8. BDM602: Property Management Plans: The IREM Model

Note: Courses listed 1 through 3 can be taken in any combination and/or out of sequence if necessary or if
scheduling is not convenient.

If you have already completed IREM courses prior to 2005 that are not specified above, go to
www.irem.org and use the CPM Course Equivalency Worksheet to see how these courses
can earn credit toward the CPM education requirement.

Option 2: Other Designations. Hold one of the following designations and complete
course BDM602 (Property Management Plans: The IREM Model).
! CCIM – Awarded by the CCIM Institute
! RPA – Awarded by the Building Owners and Managers Institute (BOMI)
! CSM – Awarded by the International Council of Shopping Centers (ICSC)
! PCAM – Awarded by the Community Association Institute (CAI)

Option 3: College Education. Have an undergraduate or a graduate degree in real estate or

property management (major, minor, or concentration/emphasis) from a regionally accredited
college or university and complete course BDM602 (Property Management Plans: The
IREM Model).

There is also a CPM Certification Exam Preparation Seminar (CPM001) available in classroom,
home study, and online. For details about this seminar, including schedules, refer to
www.irem.org.

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Exam Administration
Here is what you need to know about registering for and taking the exam and receiving your
grade. Be sure to follow these instructions carefully to assure that you earn proper credit for
taking the CPM certification exam.

Registering For and Taking the Exam Individually with an IREM Proctor
Complete the registration form at the back of this booklet and send it to IREM in Chicago,
Illinois, along with the 2005 exam fee of $100. Please note that no refunds are permitted once
you register for the exam.

Within two weeks of receipt of your registration, you will receive a confirmation letter, which
will give you the name, address, and phone number of the proctor assigned to you, along with
additional instructions. At the same time, the proctor will be sent your name and phone number
and your exam.

You will be instructed to contact your assigned proctor to discuss the best time and place for
taking the exam, which most likely will be at the proctor’s office. You will have 60 days from
the date of your confirmation letter to take the exam.

Registering For and Taking a Group Offering of the Exam

Go to www.irem.org for the most current schedule of exam offerings and instructions on
registering for an offering.

Materials You Need for the Exam

You will have a maximum of four hours to complete the exam. Absolutely no additional time
will be allowed.

The exam is open book, which means you may bring any of your IREM course materials with
you for reference during the exam. You should also to bring a calculator. No additional items
are allowed with you in the exam room.

You must bring with you to the exam site photo identification, your confirmation of registration,
and two No. 2 pencils.

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Exam Results
Only a pass or fail grade will be provided – no numerical score. You will receive your exam
results by mail within 45 days from the date you took it. Results are not given over the phone,
by fax, or by e-mail under any circumstances.

Passing the Exam. You must receive an overall score of 70% or higher in order to pass the
exam. If you earn a 70% or higher score, a passing grade will be posted to your IREM
transcript.

If you are a CPM Candidate, you will receive an updated status report within 30 days from the
posting of your passing exam score (or login to www.irem.org at any time to review your status
report).

If you have not yet applied for CPM candidacy, we encourage you to apply today. Apply online
at www.irem.org, or call the Customer Service Department at 800-837-0706 extension 4650 to
request an application.

Failing the Exam. In the unfortunate event you fail the exam by receiving less than a 70%
score, you will have the opportunity to take an alternate exam. You will receive a report of your
weak areas along with instructions for taking the alternate exam.

To take the alternate exam, you need to register again and pay the exam fee. There is no limit to
the number of times you may retake an alternate exam.

Once you pass the exam with a score of 70% or higher, a passing grade will be posted to your
IREM transcript, as noted above.

Questions?
If you have any questions, please call:

CPM Certification Exam Student Records Coordinator

800-837-0706 ext. 6079 or 312-329-6079
pdillon@irem.org

CPM Requirements CPM Program Coordinator

800-837-0706 ext. 6013 or 312-329-6013
jnirtaut@irem.org

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CPM Certification Exam Registration
(Complete this registration to take the exam individually with a proctor)
Please type or print neatly IREM Federal ID Number: 36-6214767

Last Name First Name M.I.

Check one: I am a CPM Candidate. IREM ID number (if known)

I have not yet submitted an application to become a Candidate.

IREM Mailing Address (check one): Business Home

Firm Name (only if using your business address)

Address

City/State/Zip

Daytime Phone Fax

E-mail

2005 Exam Fee Check for $100 is enclosed (make check payable to IREM)
Visa MasterCard American Express Discover

Card No. Expires

Cardholder’s Name and Billing Address (if different than above)___________________________________

Signature

Date

Mail to: CPM Certification Exam Registration Or if paying by credit card:

Customer Service Department Fax: 800-338-4736
Institute Real Estate Management Phone: 800-837-0706 ext. 4650
430 N. Michigan Avenue
Chicago, IL 60611

Confirmation will be mailed within three weeks of receipt of this registration.