CCIM 101 - FINANCIAL ANALYSIS LATEST 2025/2026 ACTUAL EXAM WITH CORRECT ANSWERS

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CCIM 101 - FINANCIAL ANALYSIS LATEST
2025/2026 ACTUAL EXAM WITH CORRECT
ANSWERS



What are the four basic components of NOI? - correct answer-
1 - Potential rental income (PRI)
2 - Vacancy and credit losses
3 - Other income
4 - Operating expenses




[XXXX] is used to determine a property's PRI (Potential Rental
Income.) - correct answer- Lease analysis




PRI equals NOI in what property/tenant scenario? - correct
answer- If the property has one tenant with a long-term
absolute NNN lease.




[XXXX] is PRI minus vacancy and collection losses. - correct
answer- ERI (Effective Rental Income)

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Name some items which are EXCLUDED from Operating
Expenses. - correct answer- Interest and principal on debt on
the property
Depreciation (cost recovery)
Capital Expenditures
Income Taxes
Reserves for Replacement
Tenant Improvements




True or False: Depreciation is included in Operating Expenses.
- correct answer- False




True of False: Principal and interest on debt financing is
included in Operating Expenses - correct answer- False. This is
an expense of ownership, not an operating expense.




True or False: Capital Expenditures are included in Operating
Expenses. - correct answer- False. They are written off over a
period of years.




True of False: Income Taxes are included in Operating
Expenses - correct answer- False