DC PROPERTY MANAGEMENT
EXAM 2025 QUESTIONS AND
ANSWERS
Management Plan - ....ANSWER ...-1. Current use
2. Current condition
3. Fiscal projections
4. Operational issues
Market Analysis - ....ANSWER ...-Regional and neighborhood evaluation
focusing on:
1. Demographic conditions
2. Geographic features
3. Governmental perspective
4. Existing real estate supply
5. Future developments
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,6. Tenant demand
Analysis of Alternatives - ....ANSWER ...-Theoretical costs and potential for
rent increase based on decision to:
1. Modernize
2. Rehabilitate
3. Change
4. Convert
Capital Expenditures - ....ANSWER ...-Projects that help extend a properties
useful life.
Three Types of Obsolescence - ....ANSWER ...-1. Physical Obsolescence is
characterized as a condition of aging (i.e. wear and tear) or deferred maintenance.
2. Functional Obsolescence is characterized by old or outdated designs or building
systems.
3. Economic Obsolescence represents a loss in value due to outside forces (i.e.
location, market conditions).
Five Types of Property Values - ....ANSWER ...-1. Investment Value - This
is the value that is generally used by investors. It is frequently determined either by
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, calculating the Net Operating Income and applying a Capitalization Rate to it or
from Cash Flow by determining the Return on Investment.
2. Assessed Value - This is the value used by government tax assessment offices.
Since it is frequently determined using sophisticated mathematical models that are
applied to many similar types of properties over a geographic area, it can be less
accurate and produce results that are higher or lower than other types of "values".
3. Market Value - This is the value that is agreed to between a buyer and seller. It
represents the "meeting of the minds".
4. Depreciated Value - This is used for income tax purposes and affects a
property's tax basis. In the past, the Federal Government has implemented
accelerated depreciation programs to help promote economic growth.
5. List price - This is only the price that the owner has offered to sell a property
for.
Rules of Ethics - ....ANSWER ...-1. Loyalty to the client
2. Confidentiality
3. Accurate accounting and reporting
4. Protection of owner's funds
5. Conflicts of interest
6. Compliance with Laws and Regulations
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
EXAM 2025 QUESTIONS AND
ANSWERS
Management Plan - ....ANSWER ...-1. Current use
2. Current condition
3. Fiscal projections
4. Operational issues
Market Analysis - ....ANSWER ...-Regional and neighborhood evaluation
focusing on:
1. Demographic conditions
2. Geographic features
3. Governmental perspective
4. Existing real estate supply
5. Future developments
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,6. Tenant demand
Analysis of Alternatives - ....ANSWER ...-Theoretical costs and potential for
rent increase based on decision to:
1. Modernize
2. Rehabilitate
3. Change
4. Convert
Capital Expenditures - ....ANSWER ...-Projects that help extend a properties
useful life.
Three Types of Obsolescence - ....ANSWER ...-1. Physical Obsolescence is
characterized as a condition of aging (i.e. wear and tear) or deferred maintenance.
2. Functional Obsolescence is characterized by old or outdated designs or building
systems.
3. Economic Obsolescence represents a loss in value due to outside forces (i.e.
location, market conditions).
Five Types of Property Values - ....ANSWER ...-1. Investment Value - This
is the value that is generally used by investors. It is frequently determined either by
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
, calculating the Net Operating Income and applying a Capitalization Rate to it or
from Cash Flow by determining the Return on Investment.
2. Assessed Value - This is the value used by government tax assessment offices.
Since it is frequently determined using sophisticated mathematical models that are
applied to many similar types of properties over a geographic area, it can be less
accurate and produce results that are higher or lower than other types of "values".
3. Market Value - This is the value that is agreed to between a buyer and seller. It
represents the "meeting of the minds".
4. Depreciated Value - This is used for income tax purposes and affects a
property's tax basis. In the past, the Federal Government has implemented
accelerated depreciation programs to help promote economic growth.
5. List price - This is only the price that the owner has offered to sell a property
for.
Rules of Ethics - ....ANSWER ...-1. Loyalty to the client
2. Confidentiality
3. Accurate accounting and reporting
4. Protection of owner's funds
5. Conflicts of interest
6. Compliance with Laws and Regulations
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
