I am working on a managed profile application in Android 5.0 and I wanted to know if it is possible to set a password that will be asked before entering into the managed profile or if the managed and unmanaged profiles have necessarily the same password and so someone who has access to the unmanaged profile will also have access to the unmanaged one?
I'm sorry no you are not allowed to have different password for the managed profile. According to the managed-profile concept, both personal profile and managed-profile belongs to same user. That's why they introduced 'Multi-user' feature. You can go and create another user and have different passwords.