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CCIM 101 - FINANCIAL ANALYSIS EXAM QUESTIONS AND ANSWERS 2024
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CCIM 101 - FINANCIAL ANALYSIS EXAM QUESTIONS AND ANSWERS 2024
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CCIM 101 - FINANCIAL ANALYSIS EXAMThe basis for a property that is purchased equals the purchase price plus what? -
ANSWERS-Plus any capitalized acquisition costs (not financing costs.)
Purchase price + acquisition costs = [XXXX] basis - ANSWERS-Original (acquisition)
basis
The portion of basis allocated to improvements or personal property is called
what? - ANSWERS-Depreciable basis
The goal of a cost segregation study is what? - ANSWERS-To use the engineering
reports of a property to segregate assets into personal property, land
improvements, buildings and land categories, with the objective of identifying
assets that can be depreciated over a shorter tax life. (See 5.12 in coursebook)
For cost-recovery purposes, residential property is defined as property in which
people live for [XXXX] or more days at a time and where no substantial services
(such as healthcare, which would be commercial) are provided. - ANSWERS-30
days
In mixed-use properties, if the Gross Rental Income (GRI) from the residential
portion is less than [XXXX]% of the total income collected, the property is treated
as commercial. - ANSWERS-80%
, The class life (depreciation period) of residential real estate improvements is how
long? - ANSWERS-27.5 years (or 3.636%/p.a.)
The class life (depreciation period) of NON-residential (commercial) real estate
improvements is how long? - ANSWERS-39 years (or 2.564% p.a.)
The Mid-month Convention: For cost recovery, taxpayers are required to use
what day of the month to establish the acquisition and disposition dates when
calculating cost-recovery deductions? - ANSWERS-15th
What are the four basic components of NOI? - ANSWERS-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.) -
ANSWERS-Lease analysis
PRI equals NOI in what property/tenant scenario? - ANSWERS-If the property has
one tenant with a long-term absolute NNN lease.
[XXXX] is PRI minus vacancy and collection losses. - ANSWERS-ERI (Effective Rental
Income)
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