# Practice Management **URL:** https://community.blackspectacles.com/c/practice-management/6.md?page=3 [Latest](https://community.blackspectacles.com/latest.md) · [Categories](https://community.blackspectacles.com/categories.md) · [Tags](https://community.blackspectacles.com/tags.md) **Page:** 4 --- ## [Practice exam and additional resources](https://community.blackspectacles.com/t/practice-exam-and-additional-resources/5987)
**Author:** [@archjavi](https://community.blackspectacles.com/u/archjavi)\ **Replies:** 1\ **Last updated:** [July 10, 2024, 3:15pm UTC](https://community.blackspectacles.com/t/practice-exam-and-additional-resources/5987 "2024-07-10T15:15:18Z")
Hi everyone, I was wondering if after completing the videos and review notes and flash card, the only practice exam should I take is what we have here in our dashboard in black spectacles or should I take another differe… --- ## [PcM Practice Form 1 -Q 54](https://community.blackspectacles.com/t/pcm-practice-form-1-q-54/5983)
**Author:** [@kokate](https://community.blackspectacles.com/u/kokate)\ **Replies:** 1\ **Last updated:** [July 8, 2024, 1:56pm UTC](https://community.blackspectacles.com/t/pcm-practice-form-1-q-54/5983 "2024-07-08T13:56:09Z")
Sorry for putting the snapshot here. But wont Furniture “selection” come under basic service? The B101 mentions FF & E Design as a supplemental service, which I am interpreting as designing a layout and making drawings f… --- ## [Balance Sheet Line Items](https://community.blackspectacles.com/t/balance-sheet-line-items/5958)
**Author:** [@amim](https://community.blackspectacles.com/u/amim)\ **Replies:** 2\ **Last updated:** [July 3, 2024, 2:42pm UTC](https://community.blackspectacles.com/t/balance-sheet-line-items/5958 "2024-07-03T14:42:22Z")
Re: Balance sheet line items from the “Firm Financials” workshop Question: Some line items on the balance sheet are a bit confusing for me, and I’m hoping someone can elaborate on what they mean. Under “Fixed Assets”: … --- ## [Architect coordinating with Owner's Consultant](https://community.blackspectacles.com/t/architect-coordinating-with-owners-consultant/5972)
**Author:** [@elie](https://community.blackspectacles.com/u/elie)\ **Replies:** 2\ **Last updated:** [July 1, 2024, 10:26pm UTC](https://community.blackspectacles.com/t/architect-coordinating-with-owners-consultant/5972 "2024-07-01T22:26:14Z")
Regarding the coordination of the Owner’s Consultant’s work as outlined in the AIA B101 document. Specifically, I need clarification on the differences between Article 3.1.2 and Article 4.1.1.20. My understanding and wh… --- ## [PcM Section 2 Objective 2.1 Financial Formulas](https://community.blackspectacles.com/t/pcm-section-2-objective-2-1-financial-formulas/5969)
**Author:** [@Citrillion](https://community.blackspectacles.com/u/Citrillion)\ **Replies:** 3\ **Last updated:** [July 1, 2024, 4:34pm UTC](https://community.blackspectacles.com/t/pcm-section-2-objective-2-1-financial-formulas/5969 "2024-07-01T16:34:58Z")
Do we have to memorize formulas like utilization rate and net multiplier or will those be provided to us for reference during the exam? Other formulas include: Overhead rate Break-even rate Profit-to-earnings ratio … --- ## [Personal liability for professional negligence](https://community.blackspectacles.com/t/personal-liability-for-professional-negligence/5957)
**Author:** [@amim](https://community.blackspectacles.com/u/amim)\ **Replies:** 1\ **Last updated:** [June 30, 2024, 6:26pm UTC](https://community.blackspectacles.com/t/personal-liability-for-professional-negligence/5957 "2024-06-30T18:26:55Z")
I’m reviewing different firm legal structures, and noticed that basically all of them state that partners/owners/principals “may be personally liable for their own professional negligence.” How do firms deal with this? D… --- ## [Net multiplier formula](https://community.blackspectacles.com/t/net-multiplier-formula/5295)
**Author:** [@ngolban](https://community.blackspectacles.com/u/ngolban)\ **Replies:** 5\ **Last updated:** [June 4, 2024, 9:32pm UTC](https://community.blackspectacles.com/t/net-multiplier-formula/5295 "2024-06-04T21:32:48Z")
@coachhayleypugh Which is correct: Net multiplier = breakeven rate / the inverse of target profit or Net multiplier = breakeven rate / the inverse of profit multiplier Both are not correct because my answers aren’t … --- ## [How would you define "Quality"?](https://community.blackspectacles.com/t/how-would-you-define-quality/5829)
**Author:** [@Xcdamianos](https://community.blackspectacles.com/u/Xcdamianos)\ **Replies:** 2\ **Last updated:** [June 4, 2024, 9:28pm UTC](https://community.blackspectacles.com/t/how-would-you-define-quality/5829 "2024-06-04T21:28:48Z")
Hi All, As we know, “quality” is a big component in the selection of project delivery. The Architects Handbook of Professional Practice defines quality as “The demand for particular standards of performance in systems,… --- ## [Unable to attend to virtual workshop on Sundays](https://community.blackspectacles.com/t/unable-to-attend-to-virtual-workshop-on-sundays/5935)
**Author:** [@anthony\_maldonado](https://community.blackspectacles.com/u/anthony_maldonado)\ **Replies:** 1\ **Last updated:** [June 4, 2024, 6:53pm UTC](https://community.blackspectacles.com/t/unable-to-attend-to-virtual-workshop-on-sundays/5935 "2024-06-04T18:53:39Z")
Due to my schedule I am UNABLE to attend the virtual workshops on Sundays. Will this affect my ARE exam performance? Are there any alternatives to these workshops? --- ## [Practice Exam Form 2 - Question 62](https://community.blackspectacles.com/t/practice-exam-form-2-question-62/5926)
**Author:** [@dabe](https://community.blackspectacles.com/u/dabe)\ **Replies:** 1\ **Last updated:** [May 31, 2024, 3:03pm UTC](https://community.blackspectacles.com/t/practice-exam-form-2-question-62/5926 "2024-05-31T15:03:54Z")
When reviewing the answers, I was really confused about why the staff shown in the budget didn’t appear on the Firm Staffing list. In the moment I was thinking maybe the numbers were wrong because surely the staff on the… --- ## [PcM - Objective 1.1 - Associate / Intern Definition](https://community.blackspectacles.com/t/pcm-objective-1-1-associate-intern-definition/5850)
**Author:** [@Citrillion](https://community.blackspectacles.com/u/Citrillion)\ **Replies:** 7\ **Last updated:** [May 26, 2024, 5:41pm UTC](https://community.blackspectacles.com/t/pcm-objective-1-1-associate-intern-definition/5850 "2024-05-26T17:41:41Z")
I’m confused. The definition of an ‘Associate’ according to Black Spectacles flash cards is, ‘…a member of a firm with the least amount of experience’. This definition could not be further from my lived experience work… --- ## [PcM Practice exam 1, Question 32](https://community.blackspectacles.com/t/pcm-practice-exam-1-question-32/5393)
**Author:** [@droose](https://community.blackspectacles.com/u/droose)\ **Replies:** 3\ **Last updated:** [May 23, 2024, 2:21am UTC](https://community.blackspectacles.com/t/pcm-practice-exam-1-question-32/5393 "2024-05-23T02:21:09Z")
On PcM practice exam 1, question #32, it is saying Employee D is correct. The explination does not even reference Employee F, which I believe is the best option be cause F has a lower utilization rate. Which answer is co… --- ## [ARE Live: PcM Mock Exam 2022](https://community.blackspectacles.com/t/are-live-pcm-mock-exam-2022/5738)
**Author:** [@shawpingabeyta](https://community.blackspectacles.com/u/shawpingabeyta)\ **Replies:** 1\ **Last updated:** [May 21, 2024, 6:13pm UTC](https://community.blackspectacles.com/t/are-live-pcm-mock-exam-2022/5738 "2024-05-21T18:13:06Z")
Hello, According to the PcM study plan, there is an ARE Live: Mock Exam 2022. Can someone direct me where I can find it? I have done a search under ARE Live page and it showed no results. Thank you. --- ## [Members of a Professional LLC](https://community.blackspectacles.com/t/members-of-a-professional-llc/5786)
**Author:** [@jordano.hernandez](https://community.blackspectacles.com/u/jordano.hernandez)\ **Replies:** 1\ **Last updated:** [May 18, 2024, 1:37pm UTC](https://community.blackspectacles.com/t/members-of-a-professional-llc/5786 "2024-05-18T13:37:50Z")
Hello, I had a question about ownership. In a scenario when not all employees of an LLC are licensed but a business is desired to be setup as a Professional LLC is it possible for this to take place given some employees … --- ## [PCM in a a month?](https://community.blackspectacles.com/t/pcm-in-a-a-month/3986)
**Author:** [@kyrshan](https://community.blackspectacles.com/u/kyrshan)\ **Replies:** 3\ **Last updated:** [May 2, 2024, 4:10am UTC](https://community.blackspectacles.com/t/pcm-in-a-a-month/3986 "2024-05-02T04:10:43Z")
I just got black spectacle, Can I take the PCM in a a month? --- ## [Profit vs NOR](https://community.blackspectacles.com/t/profit-vs-nor/2069)
**Author:** [@lina80](https://community.blackspectacles.com/u/lina80)\ **Replies:** 4\ **Last updated:** [April 27, 2024, 3:07pm UTC](https://community.blackspectacles.com/t/profit-vs-nor/2069 "2024-04-27T15:07:00Z")
What’s the difference between profit, net profit, Revenue, Net Operating revenue, current earning? And are there any terms that I should be aware of? --- ## [Profit to Earnings Ratio a Misnomer?](https://community.blackspectacles.com/t/profit-to-earnings-ratio-a-misnomer/5792)
**Author:** [@robharrison](https://community.blackspectacles.com/u/robharrison)\ **Replies:** 1\ **Last updated:** [April 11, 2024, 3:29pm UTC](https://community.blackspectacles.com/t/profit-to-earnings-ratio-a-misnomer/5792 "2024-04-11T15:29:57Z")
Just trying to wrap my mind around Profit to Earnings Ratio calculation. Intuitively I would think profit to earnings is the fraction of total earnings that is the profit (profit / \[profit+direct labor+overhead\]). This… --- ## [ARE Live: PcM Mock Exam 2024](https://community.blackspectacles.com/t/are-live-pcm-mock-exam-2024/5640)
**Author:** [@patrickfinnigan](https://community.blackspectacles.com/u/patrickfinnigan)\ **Replies:** 88\ **Last updated:** [March 20, 2024, 5:06pm UTC](https://community.blackspectacles.com/t/are-live-pcm-mock-exam-2024/5640 "2024-03-20T17:06:36Z")
Join Black Spectacles and architect Marissa Yee for a deep dive into the Practice Management division with a mock practice exam on this episode of ARE Live! Click here to watch ARE Live. We’re also extending an offer … --- ## [Practice exam #1 case study 2 last question 65/65](https://community.blackspectacles.com/t/practice-exam-1-case-study-2-last-question-65-65/5636)
**Author:** [@ichirokakami](https://community.blackspectacles.com/u/ichirokakami)\ **Replies:** 1\ **Last updated:** [March 3, 2024, 11:03pm UTC](https://community.blackspectacles.com/t/practice-exam-1-case-study-2-last-question-65-65/5636 "2024-03-03T23:03:15Z")
I do not understand where the answer gets these typical consultant fees $20k, 35k, 10k. The RFP does not mention the consultant’s fees. Last, add the typical consultant fees per 10,000 square feet to the architect’s fee… --- ## [Practice Management Practice Exam](https://community.blackspectacles.com/t/practice-management-practice-exam/5616)
**Author:** [@pmonroe](https://community.blackspectacles.com/u/pmonroe)\ **Replies:** 0\ **Last updated:** [January 31, 2024, 9:48pm UTC](https://community.blackspectacles.com/t/practice-management-practice-exam/5616 "2024-01-31T21:48:37Z")
I was working on practice exam form 2 on a Case Study Question. The question. is how many hours per week can employee 4 devote to the project in order to stay on track for achieving the firm’s financial goals. In the mat… --- ## [ARE Live: Firm Financial Documents Billable Rates](https://community.blackspectacles.com/t/are-live-firm-financial-documents-billable-rates/5562)
**Author:** [@pmonroe](https://community.blackspectacles.com/u/pmonroe)\ **Replies:** 0\ **Last updated:** [January 12, 2024, 5:16pm UTC](https://community.blackspectacles.com/t/are-live-firm-financial-documents-billable-rates/5562 "2024-01-12T17:16:31Z")
Hi I’m reviewing the recording of this session and specifically curious about finding the billable rate for Principal A. At the end of the calculation around 40:45 we have $72 x 2.81 = $202.32. The Question says to round… --- ## [PCM Quiz Break 8 Cost of Work Estimate](https://community.blackspectacles.com/t/pcm-quiz-break-8-cost-of-work-estimate/5559)
**Author:** [@pmonroe](https://community.blackspectacles.com/u/pmonroe)\ **Replies:** 0\ **Last updated:** [January 11, 2024, 6:15pm UTC](https://community.blackspectacles.com/t/pcm-quiz-break-8-cost-of-work-estimate/5559 "2024-01-11T18:15:54Z")
Why do we not include a 5% estimate for General conditions. is it only because its not mentioned in the question and even though its standard practice to include a 5% estimate for GC we dont include it in the caculation? … --- ## [Net Revenue Per Employee](https://community.blackspectacles.com/t/net-revenue-per-employee/5556)
**Author:** [@pmonroe](https://community.blackspectacles.com/u/pmonroe)\ **Replies:** 0\ **Last updated:** [January 8, 2024, 5:38pm UTC](https://community.blackspectacles.com/t/net-revenue-per-employee/5556 "2024-01-08T17:38:30Z")
I’m going through the Lectures, Slide page 89 LV16: firm Financials: profit-Loss Statement. The Formula for Net Revenue Per Employee is Net Operating Revenue / # of employees. Thus far this makes rings true to my under… --- ## [Difference between Time and Materials and Cost Plus Fee](https://community.blackspectacles.com/t/difference-between-time-and-materials-and-cost-plus-fee/5515)
**Author:** [@thomastumelty](https://community.blackspectacles.com/u/thomastumelty)\ **Replies:** 0\ **Last updated:** [December 11, 2023, 6:25am UTC](https://community.blackspectacles.com/t/difference-between-time-and-materials-and-cost-plus-fee/5515 "2023-12-11T06:25:42Z")
Hi All, Following on from our discussion about Cost Plus Fee during today’s Sunday workshop, a question came up regarding the difference between cost plus and time and materials. I found an article that I felt describes… --- ## [Limitation of Liability Question](https://community.blackspectacles.com/t/limitation-of-liability-question/5486)
**Author:** [@fjohnsen](https://community.blackspectacles.com/u/fjohnsen)\ **Replies:** 0\ **Last updated:** [November 18, 2023, 5:57pm UTC](https://community.blackspectacles.com/t/limitation-of-liability-question/5486 "2023-11-18T17:57:37Z")
I was reading through the AHPP and was a little confused on the topic of limitation of liability. They define it as “Monetary limit of the legal liability of a person or entity to another based on an agreement or establi… --- ## [Practice Exam - Exam 2 - Study Case 2 -Q4](https://community.blackspectacles.com/t/practice-exam-exam-2-study-case-2-q4/5480)
**Author:** [@thinlinegroup.llc](https://community.blackspectacles.com/u/thinlinegroup.llc)\ **Replies:** 0\ **Last updated:** [November 13, 2023, 1:48pm UTC](https://community.blackspectacles.com/t/practice-exam-exam-2-study-case-2-q4/5480 "2023-11-13T13:48:56Z")
Hello I don’t understand the problem raised in this question: The project manager has evaluated the actual costs through the design development phase, which has just been completed. Which of the following options shou… --- ## [Practise Exam Question](https://community.blackspectacles.com/t/practise-exam-question/5479)
**Author:** [@vincent.c.lee](https://community.blackspectacles.com/u/vincent.c.lee)\ **Replies:** 0\ **Last updated:** [November 12, 2023, 7:40pm UTC](https://community.blackspectacles.com/t/practise-exam-question/5479 "2023-11-12T19:40:18Z")
Can someone from Black Spectacle please explain why the last answer choice is incorrect, while the explanation clearly described that the last answer choice is typical included in RC A large corporate client issues a re… --- ## [When to use the profit margin in these scenarios](https://community.blackspectacles.com/t/when-to-use-the-profit-margin-in-these-scenarios/5397)
**Author:** [@vincent.c.lee](https://community.blackspectacles.com/u/vincent.c.lee)\ **Replies:** 0\ **Last updated:** [September 25, 2023, 2:33am UTC](https://community.blackspectacles.com/t/when-to-use-the-profit-margin-in-these-scenarios/5397 "2023-09-25T02:33:38Z")
Comparing two of the very similar questions below. One that said profit margin is a distractor, whereas the other actually uses it. I am still confused about when the profit margin should be used after reviewing both ans… --- ## [Evaluating a Firm’s Financial Metrics \[Exercise A\]](https://community.blackspectacles.com/t/evaluating-a-firm-s-financial-metrics-exercise-a/2427)
**Author:** [@dio](https://community.blackspectacles.com/u/dio)\ **Replies:** 4\ **Last updated:** [February 4, 2021, 8:24pm UTC](https://community.blackspectacles.com/t/evaluating-a-firm-s-financial-metrics-exercise-a/2427 "2021-02-04T20:24:20Z")
Greetings, This question goes for all the Sunday lectures… I participated in today’s lecture and prepared by watching the required videos from Objective 2.0 but there was no discussion or math about how to find the Uti… --- ## [Sunday Workshops](https://community.blackspectacles.com/t/sunday-workshops/5372)
**Author:** [@niusha.arndt](https://community.blackspectacles.com/u/niusha.arndt)\ **Replies:** 0\ **Last updated:** [September 10, 2023, 9:51pm UTC](https://community.blackspectacles.com/t/sunday-workshops/5372 "2023-09-10T21:51:47Z")
Hi, I missed the past 2 workshops. is there a recording I could watch to catch up? thank you - N. [Previous page](https://community.blackspectacles.com/c/practice-management/6.md?page=2) [Next page](https://community.blackspectacles.com/c/practice-management/6.md?page=4)