CCIM 101 FINANCIAL ANALYSIS ACTUAL EXAM PAPER 2026 QUESTIONS WITH SOLUTIONS VERIFIED ANSWERS

CCIM 101 FINANCIAL ANALYSIS ACTUAL
EXAM PAPER 2026 QUESTIONS WITH
SOLUTIONS VERIFIED ANSWERS

●● [XXXX] is used to determine a property's PRI (Potential Rental
Income.).
Answer: Lease analysis


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


●● [XXXX] is PRI minus vacancy and collection losses..
Answer: ERI (Effective Rental Income)


●● Name some items which are EXCLUDED from Operating
Expenses..
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..
Answer: False


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


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


●● True of False: Income Taxes are included in Operating Expenses.
Answer: False


●● True of False: Reserves for Replacement are included in Operating
Expenses.
Answer: False


●● True of False: Tenant Improvements (TI) are included in Operating
Expenses.