DC Property Manager Exam – 100+ Questions
with 100% Correct Answers || graded
Management Plan
Accurate Answer: 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).
Organizational and educational programs available to assist in enhancing the property
manager's knowledge, identifying resources to resolve issues, and expanding their business
network.
Accurate 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
Accurate 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.....
Accurate Answer: Identify the subject property's strengths and weaknesses
,The Highest & Best Use
Accurate Answer: When the property manager considers alternatives to improve the property's
weaknesses or further enhance its strengths to improve overall economic performance.
Analysis of Alternative
Accurate 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.........
Accurate 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
Accurate Answer: Projects that help extend the property's life.
Physical Obsolescene
Accurate 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
Accurate Answer: is characterized by old or outdated designs or building systems.
, Economic Obsolesence
Accurate 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.
Investment Value
Accurate Answer: A value generally used by investors
Assessed Value
The value used by government tax assessment offices
Market Value
Accurate Answer: The value that is agreed to between a buyer & seller
Rules of Ethics for Property Manager
Accurate Answer: Loyalty to client, confidentiality, accurate accounting & reporting, protection
of owner's funds, conflicts of interest, and compliance with law regulations.
An owner can be directly affected by manager's.....
Accurate Answer: Improper handling of evictions, unlawful rent collections, failure to return
security deposits, not maintaining proper compliance with the Rental Accommodations Division
(RAD)
The Management Agreement
Accurate Answer: is a formal and binding contract that establishes the authority and
responsibilities that a manager has on behalf of the owner.
with 100% Correct Answers || graded
Management Plan
Accurate Answer: 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).
Organizational and educational programs available to assist in enhancing the property
manager's knowledge, identifying resources to resolve issues, and expanding their business
network.
Accurate 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
Accurate 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.....
Accurate Answer: Identify the subject property's strengths and weaknesses
,The Highest & Best Use
Accurate Answer: When the property manager considers alternatives to improve the property's
weaknesses or further enhance its strengths to improve overall economic performance.
Analysis of Alternative
Accurate 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.........
Accurate 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
Accurate Answer: Projects that help extend the property's life.
Physical Obsolescene
Accurate 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
Accurate Answer: is characterized by old or outdated designs or building systems.
, Economic Obsolesence
Accurate 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.
Investment Value
Accurate Answer: A value generally used by investors
Assessed Value
The value used by government tax assessment offices
Market Value
Accurate Answer: The value that is agreed to between a buyer & seller
Rules of Ethics for Property Manager
Accurate Answer: Loyalty to client, confidentiality, accurate accounting & reporting, protection
of owner's funds, conflicts of interest, and compliance with law regulations.
An owner can be directly affected by manager's.....
Accurate Answer: Improper handling of evictions, unlawful rent collections, failure to return
security deposits, not maintaining proper compliance with the Rental Accommodations Division
(RAD)
The Management Agreement
Accurate Answer: is a formal and binding contract that establishes the authority and
responsibilities that a manager has on behalf of the owner.
