Where did the Money Go? The Bottom Line
What does NOI stand for and what are two ways to improve NOI?
A) "Not Our Issue" - Ignore and Laugh
B) "Net Operating Income" - Budget and Forecast
C) "Needs Ongoing Improvement" - Worry and Stress
D) "Net Operating Income" - Increase Revenue and Reduce Expenses
D) "Net Operating Income" - Increase Revenue and Reduce Expenses
What are the two documents that are required along with the new Vendor Form?
COI and W9
Who is on the share services WC Accounting and FP&A Team?
A) We have an Accounting and FP&A Team?
B) Lauretta, Kaiden, Denise, and Shelley
C) Joe, Garet, Cherie, Tiffany, Tristen, Natalia, Patrice, Rizzel, Graham, Ava, and Jackson
D) Justin, Natalie, Garet, Chuck, and Tim
C) Joe, Garet, Cherie, Tiffany, Tristen, Natalia, Patrice, Rizzel, Graham, Ava, and Jackson
True or False: The $ threshold to capitalize an individual asset is $1,000?
False - The threshold is $500 for individual capital purchases. For approved capital projects, all expenses related to completing the project can be capitalized.
What Vena folder contains the available reports for Field Operations?
A) WC Finance Reports
B) WC Reports Field Operations
C) WC CapEx Reports Field Operations
D) Both B and C
D) Both B and C
What is an accrual?
A) A mythical creature that accounting made up
B) An expense that has been incurred but we haven't received the invoice for or recorded
C) An asset
D) A service we contracted for but hasn't happened yet
B) An expense that has been incurred but we haven't received the invoice for or recorded
What happens if you spend more than your budgeted amount in a given month?
A) Don't worry about it, Chuck will pay for it
B) Look for ways to reduce expenses in other areas or in future months
C) Celebrate because it must have been for an epic party
D) Hope no one notices
B) Look ways to reduce expenses in other areas or in future months
Who is Lorrie Cisneros?
Risk Management Consultant / Insurance Manager
True or False: You can capitalize tree trimming?
False
True or False: To view all reports in Vena, you need to make sure the Process Filter is set to All
True
What do you compare your actual P&Ls to and manage against on a monthly basis?
Budgets
True or False: We should strive to push vendors through our normal invoicing and disbursement process?
True
What is an extraordinary expense?
A) An expense that causes me to go over budget
B) An unusual or infrequent expense caused by a one time unusual event or insurance related event
C) A fun party
D) Any expense greater than $2,500
B) An unusual or infrequent expense caused by a one time unusual event or insurance related event
What is the best description for a landscaping expense for monthly service, plus color change, mulch, and sod patches when coding an invoice?
A) Landscaping expense per budget
B) 07/2026 Landscaping Contracted Services
C) 07/2026 Monthly Landscaping, additionally color change for all flowers, new mulch in two flower beds, and patched one small section with new sod.
D) Monthly Landscaping and some additional stuff
C) 07/2026 Monthly Landscaping, additionally color change for all flowers, new mulch in two flower beds, and patched one small section with new sod.
Which report should you be entering in variance commentary every month?
A) Cost Comparison Report
B) Actuals vs. Budget Comparison Report
C) Community P&L Report
D) Scorecard Snapshot Report
B) Actuals vs. Budget Comparison Report
What should you do prior to adding/replacing a capital asset that was not budgeted?
A) Pray and hope for the best
B) Buy the asset and ask for forgiveness
C) Get written approval from your regional and forward to Accounting to set up an unbudgeted capex job code.
D) Depends on the cost, may not need to do anything
C) Get written approval from Regional VP and forward the approval to Accounting to set up an unbudgeted capex job code.
What is the company's approved vendor to order parts & supplies used in R&M, home set ups, & turn costs?
A) Costco
B) Amazon
C) We have approved vendors?
D) Lowe's
D) Lowe's
True or False: I need to report all insurance related incidents, regardless of expected amount or deductible level?
True
Where should bulk AC filters be coded?
A) 5000-5000 - R&M Maintenance Supplies
B) 1450-0205 - Rental Home Improvements - HVAC
C) 5010-1600 - Rental R&M - Other
D) 5010-1350 - Rental R&M - HVAC
D) 5010-1350 - Rental R&M - HVAC
Which account rollups are classified under Controllable Expenses?
A) Payroll, Legal, R&M, Marketing
B) Payroll, Administration (G&A), Legal, Real Estate Taxes
C) Payroll, Administration (G&A), R&M, Marketing
D) Payroll, Administration (G&A), R&M, Utilities
C) Payroll, Administration (G&A), R&M, Marketing
What is the best explanation for why your turn cost was higher than budget?
A) No Idea, it just is
B) I didn't do the budget and the budget is wrong
C) We had less move outs this month and didn't have to do much work
D) We had 2 higher move outs than budgeted. In addition, all units required full painting that we had to outsource due to capacity issues and paint costs have significantly increased since prior year that have increased our per turn cost which will be a run rate increase moving forward. .
D) We had 2 higher move outs than budgeted. In addition, all units required full painting that we had to outsource due to capacity issues and paint costs have significantly increased since prior year that have increased our per turn cost which will be a run rate increase moving forward.
What form should be filled out when paying a vendor without an invoice?
Check & Wire Request Form
What are the main components that directly impact and drive how you calculate utility expense - water/sewer, electric, and gas?
Usage/Consumption and Rate
What are the main things to look for when reviewing and approving an invoice in Avid?
A) Vendor, Due Date, Entity, Amount, Coding (account, job code, allocation), and Description
B) Vendor, Due Date, Who submitted it, History, Vendor State, and approval workflow
C) Nothing, I approve anything that comes through
D) Vendor, Entity, Amount, Days held in queue, and Description
A) Vendor, Due Date, Entity, Amount, Coding (account, job code, allocation), and Description
How do you use the Drill functionality in Vena to view transactional detail?
A) Drill button in the Vena toolbar, then click Transactions
B) Transactions button in the Vena toolbar, then click Drill
C) Drill button in the Vena toolbar, then click Report
D) What is the Drill functionality
A) Drill button, then Transactions