Certified Relocation Professional (CRP) Practice Exam

ERC's Eleven Key Elements and Procedures support which type of relocation program?

1. An amended value program

2. An assigned sale program

3. A destination services program

4. A targeted sales program

The correct answer is: An amended value program

The Eleven Key Elements and Procedures developed by the Employee Relocation Council (ERC) are specifically designed to support an amended value program. This type of relocation program involves an agreement between the employer and the employee, where the employer provides a guaranteed payment to the employee upon the sale of their home, while also allowing the employee to assume some of the responsibilities related to the sale process. In an amended value program, the employer typically pays for the home based on the appraised value or an agreed-upon value, regardless of the final sale price. The ERC's framework aligns well with this model, as it provides structured guidelines and best practices to ensure fairness, efficiency, and compliance throughout the relocation process. The other options, such as an assigned sale program, destination services program, and targeted sales program, represent different approaches to relocation that do not inherently rely on the specific principles outlined by the ERC for managing amended value scenarios. Each of these programs has distinct features that cater to varying needs of relocating employees, but they do not encompass the comprehensive procedural support that ERC’s Eleven Key Elements offer to the amended value program.