DC PROPERTY MANAGER EXAM
QUESTIONS WITH 100% CORRECT ANSWERS
UPDATED 2026
"What is a Leasehold Interest? - Correct Answer When the owner leases a property,
it temporarily transfers to the tenant a portion of the right of possession."
"What are the four categories related to Maintenance? - Correct Answer Curative,
Deferred, Routine, & Prevenative"
"List Price - Correct Answer The only price that the owner has offered to sell a
property for."
"Cash Flow - Correct Answer is the amount of money that remains after Debt
Service is subtracted from Net Operating Income. Is often used by investors to
determine the owner's Return On Investment"
"Organizational and educational programs available to assist in enhancing the
property manager's knowledge, identifying resources to resolve issues, and
expanding their business network. - Correct Answer 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."
"Market Analysis - Correct Answer Focuses on regional and neighborhood
evaluations. Includes demographic conditions, geographic features, governmental
prospective, existing real estate supply, future developments, and tenant/resident
demand"
"Market Analysis & Competitive Property Analysis helps to..... - Correct Answer
Identify the subject property's strengths and weaknesses"
"The Highest & Best Use - Correct Answer When the property manager considers
alternatives to improve the property's weaknesses or further enhance its strengths to
improve overall economic performance."
1|Page
, "Analysis of Alternative - Correct Answer Looks at the theoretical costs and
corresponding increase in rents by making different improvements, even property's
redevelopment."
"When determining the best use of property, alternatives to consider are......... -
Correct Answer 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."
"Capital Expenditures - Correct Answer Projects that help extend the property's
life."
"Physical Obsolescene - Correct Answer 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"
"Functional Obsolescene - Correct Answer is characterized by old or outdated
designs or building systems."
"Economic Obsolesence - Correct Answer 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."
"A landlord may evict a tenant for only one of ten statutory reasons some of those
reasons include - Correct Answer Nonpayment of rent, Violation of an obligation of
tenancy, of which the tenant failed to correct after notice; Tenant performed as illegal
act within the rental unit."
"TOPA Tenant Opportunity to Purchase Act - Correct Answer Landlord must
provide the tenant(s) with the opportunity to acquire a residence."
"The Condominium Act - Correct Answer Regulates condominium formation and
registration."
2|Page
QUESTIONS WITH 100% CORRECT ANSWERS
UPDATED 2026
"What is a Leasehold Interest? - Correct Answer When the owner leases a property,
it temporarily transfers to the tenant a portion of the right of possession."
"What are the four categories related to Maintenance? - Correct Answer Curative,
Deferred, Routine, & Prevenative"
"List Price - Correct Answer The only price that the owner has offered to sell a
property for."
"Cash Flow - Correct Answer is the amount of money that remains after Debt
Service is subtracted from Net Operating Income. Is often used by investors to
determine the owner's Return On Investment"
"Organizational and educational programs available to assist in enhancing the
property manager's knowledge, identifying resources to resolve issues, and
expanding their business network. - Correct Answer 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."
"Market Analysis - Correct Answer Focuses on regional and neighborhood
evaluations. Includes demographic conditions, geographic features, governmental
prospective, existing real estate supply, future developments, and tenant/resident
demand"
"Market Analysis & Competitive Property Analysis helps to..... - Correct Answer
Identify the subject property's strengths and weaknesses"
"The Highest & Best Use - Correct Answer When the property manager considers
alternatives to improve the property's weaknesses or further enhance its strengths to
improve overall economic performance."
1|Page
, "Analysis of Alternative - Correct Answer Looks at the theoretical costs and
corresponding increase in rents by making different improvements, even property's
redevelopment."
"When determining the best use of property, alternatives to consider are......... -
Correct Answer 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."
"Capital Expenditures - Correct Answer Projects that help extend the property's
life."
"Physical Obsolescene - Correct Answer 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"
"Functional Obsolescene - Correct Answer is characterized by old or outdated
designs or building systems."
"Economic Obsolesence - Correct Answer 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."
"A landlord may evict a tenant for only one of ten statutory reasons some of those
reasons include - Correct Answer Nonpayment of rent, Violation of an obligation of
tenancy, of which the tenant failed to correct after notice; Tenant performed as illegal
act within the rental unit."
"TOPA Tenant Opportunity to Purchase Act - Correct Answer Landlord must
provide the tenant(s) with the opportunity to acquire a residence."
"The Condominium Act - Correct Answer Regulates condominium formation and
registration."
2|Page
