DC PROPERTY MANAGER EXAM –
FLASHCARDS QUESTIONS &
VERIFIED ANSWERS RATED 100%
CORRECT
Management Plan - Correct Answer ✔✔ This describes in detail the subject property's
current use along with its physical condition, fiscal projections, and any operational
issues. It also includes an analysis of the market (both regional and neighborhood), the
competing properties, as well as potential improvements or alternative uses for the
subject property.
Market Analysis - Correct Answer ✔✔ This focuses on both a regional and
neighborhood evaluation, which includes the demographic conditions, geographic
features, governmental prospective, existing real estate supply, potential future
developments, and tenant/resident demand.
Analysis of Alternatives - Correct Answer ✔✔ This looks at the theoretical costs and
corresponding increase in rents by making different improvements, even the subject
property's redevelopment.
Capital Expenditures - Correct Answer ✔✔ Work performed on properties that are
occupied and operational with the goal of trying to prevent the property from declining
and becoming obsolete.
Physical Obsolescence - Correct Answer ✔✔ A status characterized as a condition of
aging (i.e. wear and tear) or deferred maintenance. Examples are worn carpets, peeling
paint, a leaking roof, or dead landscaping.
Functional Obsolescence - Correct Answer ✔✔ A status characterized by old or
outdated designs or building systems. Examples include equipment that is not
repairable because parts or no longer manufactured; single pane window systems
because they waste a large amount of energy; outdated bathroom fixtures because of
changing designs and tastes.
Economic Obsolescence - Correct Answer ✔✔ A status that represents a loss in value
due to outside forces (i.e. location, market conditions). An example would be an office
building, located in a small town, where the major employer closes. This may result in
both lower demand and rental rates.
Depreciation - Correct Answer ✔✔ The process by which properties begin to deteriorate
as soon as they are completed. It represents the loss in value from the various forms of
obsolescence.
FLASHCARDS QUESTIONS &
VERIFIED ANSWERS RATED 100%
CORRECT
Management Plan - Correct Answer ✔✔ This describes in detail the subject property's
current use along with its physical condition, fiscal projections, and any operational
issues. It also includes an analysis of the market (both regional and neighborhood), the
competing properties, as well as potential improvements or alternative uses for the
subject property.
Market Analysis - Correct Answer ✔✔ This focuses on both a regional and
neighborhood evaluation, which includes the demographic conditions, geographic
features, governmental prospective, existing real estate supply, potential future
developments, and tenant/resident demand.
Analysis of Alternatives - Correct Answer ✔✔ This looks at the theoretical costs and
corresponding increase in rents by making different improvements, even the subject
property's redevelopment.
Capital Expenditures - Correct Answer ✔✔ Work performed on properties that are
occupied and operational with the goal of trying to prevent the property from declining
and becoming obsolete.
Physical Obsolescence - Correct Answer ✔✔ A status characterized as a condition of
aging (i.e. wear and tear) or deferred maintenance. Examples are worn carpets, peeling
paint, a leaking roof, or dead landscaping.
Functional Obsolescence - Correct Answer ✔✔ A status characterized by old or
outdated designs or building systems. Examples include equipment that is not
repairable because parts or no longer manufactured; single pane window systems
because they waste a large amount of energy; outdated bathroom fixtures because of
changing designs and tastes.
Economic Obsolescence - Correct Answer ✔✔ A status that represents a loss in value
due to outside forces (i.e. location, market conditions). An example would be an office
building, located in a small town, where the major employer closes. This may result in
both lower demand and rental rates.
Depreciation - Correct Answer ✔✔ The process by which properties begin to deteriorate
as soon as they are completed. It represents the loss in value from the various forms of
obsolescence.
