DC Property Managers Study Guide
UPDATED ACTUAL Exam Questions and
CORECT Answers
Assists the owner in meeting their goals while maximizing the property's value and return. The
plan describes in detail the subject property's current use along with it's physical condition, fiscal
projections, and operational issues (includes an analysis of the market regional & neighborhood).
- CORRECT ANSWER - Management Plan
Institute of Real Estate Management (IREM), National Association of Realtors (NAR), Greater
Capital Area Association of Realtors (GCARR), building Owners & Managers Association
(BOMA), National Association of Real Estate Brokers, International Council of Shopping
Centers (ICSC), and National Property Management Association. - CORRECT
ANSWER - Organizational and educational programs available to assist in enhancing the
property manager's knowledge, identifying resources to resolve issues, and expanding their
business network.
Focuses on regional and neighborhood evaluations. Includes demographic conditions,
geographic features, governmental prospective, existing real estate supply, future developments,
and tenant/resident demand - CORRECT ANSWER - Market Analysis
Identify the subject property's strengths and weaknesses - CORRECT ANSWER - Market
Analysis & Competitive Property Analysis helps to.....
When the property manager considers alternatives to improve the property's weaknesses or
further enhance its strengths to improve overall economic performance. - CORRECT
ANSWER - The Highest & Best Use
Looks at the theoretical costs and corresponding increase in rents by making different
improvements, even property's redevelopment. - CORRECT ANSWER - Analysis of
Alternative
, Rehabilitate without altering its existing use, Modernize by updating finishes (more efficient
equipment), Change the Use of building (including conversion), or Conversion to a
condominium m ownership structure. - CORRECT ANSWER - When determining the
best use of property, alternatives to consider are.........
Projects that help extend the property's life. - CORRECT ANSWER - Capital
Expenditures
is characterized as a condition of aging (i.e. wear & tear) or deferred maintenance. Examples are
worn carpet, peeling paint, a leaking roof, or dead landscaping - CORRECT ANSWER -
Physical Obsolescene
is characterized by old or outdated designs or building systems. - CORRECT ANSWER -
Functional Obsolescene
Represents a loss in value due to outside forces (i.e. location, market conditions). Examples
would be an office building, locates in a small town, where the major employer closes. -
CORRECT ANSWER - Economic Obsolesence
A value generally used by investors - CORRECT ANSWER - Investment Value
The value used by government tax assessment offices - CORRECT ANSWER - Assessed
Value
The value that is agreed to between a buyer & seller - CORRECT ANSWER - Market
Value
Loyalty to client, confidentiality, accurate accounting & reporting, protection of owner's funds,
conflicts of interest, and compliance with law regulations. - CORRECT ANSWER - Rules
of Ethics for Property Manager
UPDATED ACTUAL Exam Questions and
CORECT Answers
Assists the owner in meeting their goals while maximizing the property's value and return. The
plan describes in detail the subject property's current use along with it's physical condition, fiscal
projections, and operational issues (includes an analysis of the market regional & neighborhood).
- CORRECT ANSWER - Management Plan
Institute of Real Estate Management (IREM), National Association of Realtors (NAR), Greater
Capital Area Association of Realtors (GCARR), building Owners & Managers Association
(BOMA), National Association of Real Estate Brokers, International Council of Shopping
Centers (ICSC), and National Property Management Association. - CORRECT
ANSWER - Organizational and educational programs available to assist in enhancing the
property manager's knowledge, identifying resources to resolve issues, and expanding their
business network.
Focuses on regional and neighborhood evaluations. Includes demographic conditions,
geographic features, governmental prospective, existing real estate supply, future developments,
and tenant/resident demand - CORRECT ANSWER - Market Analysis
Identify the subject property's strengths and weaknesses - CORRECT ANSWER - Market
Analysis & Competitive Property Analysis helps to.....
When the property manager considers alternatives to improve the property's weaknesses or
further enhance its strengths to improve overall economic performance. - CORRECT
ANSWER - The Highest & Best Use
Looks at the theoretical costs and corresponding increase in rents by making different
improvements, even property's redevelopment. - CORRECT ANSWER - Analysis of
Alternative
, Rehabilitate without altering its existing use, Modernize by updating finishes (more efficient
equipment), Change the Use of building (including conversion), or Conversion to a
condominium m ownership structure. - CORRECT ANSWER - When determining the
best use of property, alternatives to consider are.........
Projects that help extend the property's life. - CORRECT ANSWER - Capital
Expenditures
is characterized as a condition of aging (i.e. wear & tear) or deferred maintenance. Examples are
worn carpet, peeling paint, a leaking roof, or dead landscaping - CORRECT ANSWER -
Physical Obsolescene
is characterized by old or outdated designs or building systems. - CORRECT ANSWER -
Functional Obsolescene
Represents a loss in value due to outside forces (i.e. location, market conditions). Examples
would be an office building, locates in a small town, where the major employer closes. -
CORRECT ANSWER - Economic Obsolesence
A value generally used by investors - CORRECT ANSWER - Investment Value
The value used by government tax assessment offices - CORRECT ANSWER - Assessed
Value
The value that is agreed to between a buyer & seller - CORRECT ANSWER - Market
Value
Loyalty to client, confidentiality, accurate accounting & reporting, protection of owner's funds,
conflicts of interest, and compliance with law regulations. - CORRECT ANSWER - Rules
of Ethics for Property Manager
