Please note: Beginning in 2008, MPSA01 will no longer be available to U.S.-only students. It will be available to all international partners/students.
Receiving a passing grade on the MPSA fulfills the management plan requirement for the CPM designation.
The MPSA is a comprehensive exam designed to assess a student’s knowledge of the concepts, technical skills and processes involved in preparing, analyzing, and completing a property management plan.
Successful completion of this skills assessment fulfills the management plan requirement for earning the CPM designation and is an alternative to writing a comprehensive management plan on a property of your own choosing. “Property Management Plans: The IREM Model” (BDM602) should be completed before taking this assessment, and it is strongly suggested that BDM602 and MPSA be taken consecutively. The MPSA is completed over two days and has three components:
MPSA/Concept Evaluation (Day 1)
Begin the assessment process by answering a series of essay questions designed to evaluate your knowledge of the concepts, technical skills, and processes involved in preparing a property management plan. The Concept Evaluation is open book.
MPSA/Case Study (Day 1)
Upon completion of the concept evaluation, you will be presented with information about a property, selected at the time you register (i.e., office building, conventional apartment, community association, or retail strip center). You will have approximately 6 hours to review and analyze the case study. You may choose to work with other participants in a study group or on your own. You will also have the opportunity to ask questions of an IREM facilitator.
MPSA/Practical Application (Day 2)
Presented with additional information about the property and given a management scenario, you will prepare written essay answers to a series of questions that follow the IREM management plan outline. The questions are designed to measure your ability to analyze and communicate complex information needed to complete a workable management plan. The Practical Application is open book.
For this skills assessment, students must choose one property type out of the following options. Indicate your selection at the time of registration:
- Office building
- Conventional apartment
- Retail strip shopping center
Calculator Required: The HP10BII fi nancial calculator is required for this course. Course materials illustrate keystrokes for this calculator only. Students taking this course are expected to have a working knowledge of the basic operations and functionality of the calculator. Students are encouraged to download the “HP10BII Financial Calculator Quick Reference Guide” and review it prior to taking this course.