DC Property Manager Exam Practice Test (Latest 2026/2027 Update) Questions with Verified Answers | 100% Correct | Graded A+

DC Property Manager Exam Practice Test (Latest
2026/2027 Update) Questions with Verified
Answers | 100% Correct | Graded A+
Question:
When determining the best use of property, alternatives to consider
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are.........?

Answer:

Rehabilitate without altering its existing use, Modernize by updating
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finishes (more efficient equipment), Change the Use of building (including
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conversion), or Conversion to a condominium m ownership structure.
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Question:
Capital Expenditures?
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Answer:
Projects that help extend the property's life.
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Question:

Physical Obsolescene?
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Answer:

,is characterized as a condition of aging (i.e. wear & tear) or deferred
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maintenance. Examples are worn carpet, peeling paint, a leaking roof, or
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dead landscaping
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Question:

Functional Obsolescene? i,-




Answer:

is characterized by old or outdated designs or building systems.
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Question:
Economic Obsolesence? i,-




Answer:

Represents a loss in value due to outside forces (i.e. location, market
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conditions). Examples would be an office building, locates in a small town,
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where the major employer closes.
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Question:

Investment Value? i,-




Answer:
A value generally used by investors
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,Question:

Assessed Value? i,-




Answer:

The value used by government tax assessment offices
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Question:

Market Value? i,-




Answer:
The value that is agreed to between a buyer & seller
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Question:
Rules of Ethics for Property Manager?
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Answer:

Loyalty to client, confidentiality, accurate accounting & reporting,
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protection of owner's funds, conflicts of interest, and compliance with law
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regulations.




Question:

An owner can be directly affected by manager's.....?
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, Answer:
Improper handling of evictions, unlawful rent collections, failure to return
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security deposits, not maintaining proper compliance with the Rental
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Accommodations Division (RAD) i,- i,-




Question:

Management Plan? i,-




Answer:

Assists the owner in meeting their goals while maximizing the property's
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value and return. The plan describes in detail the subject property's
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current use along with it's physical condition, fiscal projections, and
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operational issues (includes an analysis of the market regional &
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neighborhood).




Question:

Organizational and educational programs available to assist in enhancing
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the property manager's knowledge, identifying resources to resolve issues,
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and expanding their business network.?
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Answer:
Institute of Real Estate Management (IREM), National Association of
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Realtors (NAR), Greater Capital Area Association of Realtors (GCARR),
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building Owners & Managers Association (BOMA), National Association of
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Real Estate Brokers, International Council of Shopping Centers (ICSC), and
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National Property Management Association.
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