6/30/25, 12:08 PM DC Property Management Exam (2025 updated) QUESTIONS AND ANSWERS (DETAILED & ELABORATED) fully solved Flashc…
DC Property Management Exam (2025 updated)
QUESTIONS AND ANSWERS (DETAILED & ELABORATED)
fully solved
Save
Terms in this set (63)
1. Current use
2. Current condition
Management Plan
3. Fiscal projections
4. Operational issues
Regional and neighborhood evaluation focusing on:
1. Demographic conditions
2. Geographic features
Market Analysis 3. Governmental perspective
4. Existing real estate supply
5. Future developments
6. Tenant demand
Theoretical costs and potential for rent increase based on decision
to:
1. Modernize
Analysis of Alternatives
2. Rehabilitate
3. Change
4. Convert
Capital Expenditures Projects that help extend a properties useful life.
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 Functional Obsolescence is characterized by old or outdated
Three Types of Obsolescence
designs or building systems.
3. Economic Obsolescence represents a loss in value due to
outside forces (i.e. location, market conditions).
https://quizlet.com/1057696013/dc-property-management-exam-2025-updated-questions-and-answers-detailed-elaborated-fully-solved-flash-cards/?new 1/9
, 6/30/25, 12:08 PM DC Property Management Exam (2025 updated) QUESTIONS AND ANSWERS (DETAILED & ELABORATED) fully solved Flashc…
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
Five Types of Property Values
"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.
1. Loyalty to the client
2. Confidentiality
3. Accurate accounting and reporting
Rules of Ethics
4. Protection of owner's funds
5. Conflicts of interest
6. Compliance with Laws and Regulations
A formal and binding contract that establishes the authority and
responsibilities that the manager has on behalf of the owner and in
Management Agreement operating the property. It will assist the owner in meeting their
goals and objectives as well as maximizing the property's value
and return.
1. Sale or transfer of the property
2. Improper financial reporting
Grounds for Termination of
3. Improper financial reporting
Management Agreement
4. Negligence
5. Commingling funds
The purpose of this analysis is to not only identify physical
differences as well as strengths and weaknesses, but also to
Comparison Analysis
determine a value for each element and to make adjustments to
the subject property's rental rate, up or down, based on the results.
Play audio for this term
Occurs annually; purpose being to develop a means to both track
Budget Process the property's performance and to organize the various types of
income and expenses.
https://quizlet.com/1057696013/dc-property-management-exam-2025-updated-questions-and-answers-detailed-elaborated-fully-solved-flash-cards/?new 2/9
DC Property Management Exam (2025 updated)
QUESTIONS AND ANSWERS (DETAILED & ELABORATED)
fully solved
Save
Terms in this set (63)
1. Current use
2. Current condition
Management Plan
3. Fiscal projections
4. Operational issues
Regional and neighborhood evaluation focusing on:
1. Demographic conditions
2. Geographic features
Market Analysis 3. Governmental perspective
4. Existing real estate supply
5. Future developments
6. Tenant demand
Theoretical costs and potential for rent increase based on decision
to:
1. Modernize
Analysis of Alternatives
2. Rehabilitate
3. Change
4. Convert
Capital Expenditures Projects that help extend a properties useful life.
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
Three Types of Obsolescence
designs or building systems.
3. Economic Obsolescence represents a loss in value due to
outside forces (i.e. location, market conditions).
https://quizlet.com/1057696013/dc-property-management-exam-2025-updated-questions-and-answers-detailed-elaborated-fully-solved-flash-cards/?new 1/9
, 6/30/25, 12:08 PM DC Property Management Exam (2025 updated) QUESTIONS AND ANSWERS (DETAILED & ELABORATED) fully solved Flashc…
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
Five Types of Property Values
"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.
1. Loyalty to the client
2. Confidentiality
3. Accurate accounting and reporting
Rules of Ethics
4. Protection of owner's funds
5. Conflicts of interest
6. Compliance with Laws and Regulations
A formal and binding contract that establishes the authority and
responsibilities that the manager has on behalf of the owner and in
Management Agreement operating the property. It will assist the owner in meeting their
goals and objectives as well as maximizing the property's value
and return.
1. Sale or transfer of the property
2. Improper financial reporting
Grounds for Termination of
3. Improper financial reporting
Management Agreement
4. Negligence
5. Commingling funds
The purpose of this analysis is to not only identify physical
differences as well as strengths and weaknesses, but also to
Comparison Analysis
determine a value for each element and to make adjustments to
the subject property's rental rate, up or down, based on the results.
Play audio for this term
Occurs annually; purpose being to develop a means to both track
Budget Process the property's performance and to organize the various types of
income and expenses.
https://quizlet.com/1057696013/dc-property-management-exam-2025-updated-questions-and-answers-detailed-elaborated-fully-solved-flash-cards/?new 2/9
