DC Property Manager Exam – Questions
with 100% Correct Answers | Updated
2026
Management Plan - ANSWER-1. Current use
2. Current condition
3. Fiscal projections
4. Operational issues
Market Analysis - ANSWER-Regional and neighborhood evaluation focusing on:
1. Demographic conditions
2. Geographic features
3. Governmental perspective
4. Existing real estate supply
5. Future developments
6. Tenant demand
Analysis of Alternatives - ANSWER-Theoretical costs and potential for rent
increase based on decision to:
1. Modernize
2. Rehabilitate
3. Change
, 4. Convert
Capital Expenditures - ANSWER-Projects that help extend a properties useful life.
Three Types of Obsolescence - ANSWER-1. Physical Obsolescence is characterized
as a condition of aging (i.e. wear and tear) or deferred maintenance.
2. Functional Obsolescence is characterized by old or outdated designs or building
systems.
3. Economic Obsolescence represents a loss in value due to outside forces (i.e.
location, market conditions).
Five Types of Property Values - ANSWER-1. Investment Value - This is the value
that is generally used by investors. It is frequently determined either by calculating
the Net Operating Income and applying a Capitalization Rate to it or from Cash
Flow by determining the Return on Investment.
2. Assessed Value - This is the value used by government tax assessment offices.
Since it is frequently determined using sophisticated mathematical models that
are applied to many similar types of properties over a geographic area, it can be
less accurate and produce results that are higher or lower than other types of
"values".
3. Market Value - This is the value that is agreed to between a buyer and seller. It
represents the "meeting of the minds".
4. Depreciated Value - This is used for income tax purposes and affects a
property's tax basis. In the past, the Federal Government has implemented
accelerated depreciation programs to help promote economic growth.
5. List price - This is only the price that the owner has offered to sell a property for.
with 100% Correct Answers | Updated
2026
Management Plan - ANSWER-1. Current use
2. Current condition
3. Fiscal projections
4. Operational issues
Market Analysis - ANSWER-Regional and neighborhood evaluation focusing on:
1. Demographic conditions
2. Geographic features
3. Governmental perspective
4. Existing real estate supply
5. Future developments
6. Tenant demand
Analysis of Alternatives - ANSWER-Theoretical costs and potential for rent
increase based on decision to:
1. Modernize
2. Rehabilitate
3. Change
, 4. Convert
Capital Expenditures - ANSWER-Projects that help extend a properties useful life.
Three Types of Obsolescence - ANSWER-1. Physical Obsolescence is characterized
as a condition of aging (i.e. wear and tear) or deferred maintenance.
2. Functional Obsolescence is characterized by old or outdated designs or building
systems.
3. Economic Obsolescence represents a loss in value due to outside forces (i.e.
location, market conditions).
Five Types of Property Values - ANSWER-1. Investment Value - This is the value
that is generally used by investors. It is frequently determined either by calculating
the Net Operating Income and applying a Capitalization Rate to it or from Cash
Flow by determining the Return on Investment.
2. Assessed Value - This is the value used by government tax assessment offices.
Since it is frequently determined using sophisticated mathematical models that
are applied to many similar types of properties over a geographic area, it can be
less accurate and produce results that are higher or lower than other types of
"values".
3. Market Value - This is the value that is agreed to between a buyer and seller. It
represents the "meeting of the minds".
4. Depreciated Value - This is used for income tax purposes and affects a
property's tax basis. In the past, the Federal Government has implemented
accelerated depreciation programs to help promote economic growth.
5. List price - This is only the price that the owner has offered to sell a property for.
