100+ Free IREM ACoM Practice Questions

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Question 1

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A Class A office building is best characterized by which combination of features?

Functional but older buildings with average finishes in secondary locations

Premier buildings with the highest-quality finishes, systems, and prestigious locations commanding top-of-market rents

Buildings scheduled for demolition or major redevelopment

Strictly industrial warehouses in tertiary markets

to track

2026 Statistics

Key Facts: IREM ACoM Exam

120

Total MCQ Items

IREM ACoM certification exam

~15%

Leasing Weight

Largest domain on 2026 IREM ACoM outline (tied with Financial Management)

~15%

Financial Management Weight

NOI, cap rate, DCR, CAM reconciliation

~$1,500-$2,500

2026 Total Cost

IREM courses, ethics, and certification exam (verify current schedule)

1.25+

Typical DCR Target

Commercial lender requirement (NOI / debt service)

75+

ENERGY STAR Score

Portfolio Manager benchmark for ENERGY STAR certification

IREM ACoM is a certification from the Institute of Real Estate Management comprising a 120-question multiple-choice exam plus the required IREM course sequence and ethics course. Content spans leasing (~15%), financial management (~15%), commercial property types (~10%), CRE fundamentals (~10%), maintenance/operations (~10%), risk/insurance (~9%), legal/regulatory (~9%), tenant relations (~8%), sustainability (~6%), marketing (~5%), and PropTech (~4%). Total cost is ~$1,500-$2,500 including courses, ethics, and exam. Requires documented commercial real estate experience and IREM membership.

Sample IREM ACoM Practice Questions

Try these sample questions to test your IREM ACoM exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1A Class A office building is best characterized by which combination of features?

A.Functional but older buildings with average finishes in secondary locations

B.Premier buildings with the highest-quality finishes, systems, and prestigious locations commanding top-of-market rents

C.Buildings scheduled for demolition or major redevelopment

D.Strictly industrial warehouses in tertiary markets

Explanation: Class A buildings are the highest-quality properties in a market: modern systems, premium finishes, strong amenity packages, professional on-site management, and prime locations. They attract credit tenants and command top-tier rents. Class B is functional/average, Class C is older/dated with below-market rents.

2In a triple-net (NNN) lease, which expenses does the tenant typically pay in addition to base rent?

A.Only utilities inside the demised premises

B.Property taxes, building insurance, and common area maintenance (CAM)

C.Only the landlord's debt service

D.Depreciation and income taxes of the landlord

Explanation: Under an NNN lease the tenant pays base rent plus its pro-rata share of the three 'nets': real estate taxes, building insurance, and CAM/operating expenses. This shifts most operating cost risk to the tenant and is common in retail and single-tenant net-lease properties.

3GLA (Gross Leasable Area) in a retail center refers to:

A.Total building footprint including parking decks

B.Only the enclosed common areas such as mall corridors

C.The floor area designed for exclusive occupancy and use by tenants, measured from center of partitions to outside of exterior walls

D.The land area of the parcel

Explanation: GLA is the total floor area designed for tenants' exclusive use, usually measured from the centerline of demising walls to the outside of exterior walls. GLA excludes common areas like mall corridors and is the standard denominator for rent per square foot calculations and sales-per-square-foot analysis.

4Net absorption in a commercial market is calculated as:

A.New construction delivered during a period

B.Total vacant space at period end

C.Change in occupied space over a period (move-ins minus move-outs, adjusting for new deliveries and demolitions)

D.Gross rent multiplier applied to base rent

Explanation: Net absorption measures the net change in physically occupied square footage across a market during a reporting period. Positive absorption signals demand growth; negative absorption signals contraction. It is a core indicator managers track to gauge leasing velocity and pricing power.

5A 'full-service gross' lease typically means:

A.Tenant pays all operating expenses separately

B.Landlord pays all operating expenses (taxes, insurance, CAM, utilities, janitorial) and recovers them through the quoted rent, sometimes with an expense-stop pass-through above a base year

C.Rent is tied strictly to tenant's gross sales

D.Rent is paid only at the end of the lease term

Explanation: Full-service gross (FSG) rent includes the landlord's payment of operating expenses up to a base-year amount. Increases above the base year are typically passed through to tenants on a pro-rata basis. Common in multi-tenant office buildings.

6A percentage rent clause in a retail lease generally requires the tenant to pay:

A.A flat fee regardless of sales

B.Base minimum rent plus a percentage of gross sales above a stated breakpoint

C.Only a share of the landlord's net income

D.The landlord's property taxes only

Explanation: Percentage rent is common in retail. The tenant pays base rent plus a stated percentage of gross sales exceeding a 'natural' or 'artificial' breakpoint. The natural breakpoint equals base rent divided by the percentage. This aligns landlord income with tenant sales performance.

7CBD, when used in commercial real estate, stands for:

A.Commercial Building District

B.Central Business District — the historic downtown core of a city

C.Certified Building Developer

D.Core Building Density

Explanation: The Central Business District is the urban core with the highest density of commercial activity, historically dominated by Class A office towers and rail/transit hubs. Suburban submarkets typically have lower rents, more parking, and different tenant profiles.

8Tenant mix in a retail property refers to:

A.The racial diversity of tenant employees

B.The combination of tenant types, sizes, and merchandise categories selected to maximize shopper cross-traffic and sales

C.The ratio of national to local insurance carriers

D.The number of tenants that share HVAC systems

Explanation: Tenant mix is a strategic merchandising concept: complementary retailers (for example, a grocery anchor + drug store + quick-serve restaurants + soft goods) drive cross-shopping, extended dwell time, and higher center sales per square foot. Poor mix produces sales cannibalization and weak draw.

9Occupancy rate for a commercial building is most commonly expressed as:

A.Total rentable square footage divided by leased square footage

B.Leased or occupied square footage divided by total rentable square footage, expressed as a percentage

C.Number of tenants divided by number of suites

D.Net operating income divided by gross revenue

Explanation: Occupancy = occupied (or leased) rentable square feet divided by total rentable square feet. 'Leased occupancy' includes executed leases not yet in possession; 'physical occupancy' counts only suites in possession. Managers report both to owners.

10A modified gross lease differs from a full-service gross lease primarily because:

A.The tenant pays no rent during the first year

B.Certain operating expenses (commonly janitorial, electric, or utilities) are carved out and paid directly by the tenant while others remain the landlord's responsibility

C.The landlord pays the tenant's property taxes

D.Rent automatically doubles each year

Explanation: In a modified gross lease, the parties negotiate which operating expenses are included in rent versus paid directly by the tenant. Commonly the tenant pays in-suite electric and janitorial while the landlord pays taxes, insurance, and building-standard CAM. Terms are deal-specific.

About the IREM ACoM Exam

The IREM Accredited Commercial Manager (ACoM) is a certification from the Institute of Real Estate Management for professionals managing office, retail, industrial, and mixed-use commercial properties. Content spans commercial leasing and lease administration (NNN, gross, modified gross, percentage rent, SNDA, estoppel, TI), financial management (NOI, cap rate, DCR 1.25+, CAM reconciliation, operating/capital budgets), commercial property types (office Class A/B/C, BOMA, retail GLA, industrial clear height, medical office, mixed-use), CRE fundamentals (ownership structures, agency, IREM ethics), maintenance and operations (HVAC, electrical, life-safety, vendor contracts), risk management and insurance (CGL, property, business income, COI, waivers of subrogation), legal and regulatory (ADA Title III, OSHA, EPA/Phase I ESA, bankruptcy §365), tenant relations, sustainability (ENERGY STAR Portfolio Manager, LEED EB:OM, GRESB), technology and PropTech (Yardi, MRI, RealPage, CMMS), and marketing and leasing strategy. Requires commercial real estate management experience and completion of IREM courses.

Questions

120 scored questions

Time Limit

Computer-based exam (proctored test center or online proctoring)

Passing Score

Criterion-referenced passing standard set by IREM (typically ~70% scaled)

Exam Fee

~$1,500-$2,500 total including IREM courses, ethics, and certification exam (IREM 2026 — verify current schedule) (Institute of Real Estate Management (IREM))

IREM ACoM Exam Content Outline

~15%

Leasing & Lease Administration

Commercial lease structures (gross, modified gross, full-service, single-net, double-net, triple-net NNN, absolute net, percentage rent for retail), base rent vs effective rent, escalations (CPI, fixed step, porter's wage), operating expense pass-throughs and CAM reconciliation, base year and expense stop concepts, lease abstracting, rent commencement vs possession, options (renewal, expansion, ROFR, ROFO), SNDA (subordination, non-disturbance, and attornment), estoppel certificates, co-tenancy clauses, exclusive use clauses, tenant improvement (TI) allowance, work letters.

~15%

Financial Management & Accounting

Operating budgets and variance analysis, capital budgets and reserves, accrual vs cash accounting, chart of accounts, GAAP basics, NOI (Net Operating Income) — effective gross income minus operating expenses, cap rate = NOI / value, debt coverage ratio (DCR) target 1.25+, cash-on-cash return, IRR and NPV fundamentals, MLR (Mortgage Loan Ratio) and LTV, common-area maintenance (CAM) reconciliation, billing disputes, audit rights.

~10%

Commercial Property Types

Office (Class A/B/C, CBD vs suburban, BOMA measurement standards, load factor/rentable vs usable), retail (regional malls, power centers, neighborhood/community centers, lifestyle centers, outlet centers; GLA vs GBA; anchor vs in-line; percentage rent and breakpoint), industrial (warehouse/distribution, flex, manufacturing, cold storage, clear height, dock doors, ESFR sprinklers), medical office (MOB), mixed-use, data centers.

~10%

Commercial Real Estate Fundamentals

Property management vs asset management vs development, ownership structures (LLC, LP, REIT, TIC, DST), agency relationships and fiduciary duty, IREM Code of Professional Ethics, highest and best use, market vs investment value, four characteristics (scarcity, improvements, permanence, area preference), supply and demand drivers, absorption, vacancy, market vs submarket analysis, CoStar and LoopNet data.

~10%

Maintenance & Operations

Preventive vs corrective vs predictive maintenance, work-order systems and CMMS, building systems (HVAC rooftop units and chillers, VAV, cooling towers; electrical service, switchgear, UPS; plumbing, fire suppression — wet/dry/pre-action, fire alarm and life safety), vertical transportation (elevators, escalators), roof systems (TPO, EPDM, BUR), vendor contracts and RFPs, janitorial scope of work, security operations, lifecycle cost analysis.

~9%

Risk Management & Insurance

Commercial property insurance (ISO CP forms, special/broad/basic causes of loss), commercial general liability (CGL), business income/business interruption, builder's risk, umbrella/excess, workers' compensation, D&O, cyber liability, certificates of insurance (COI) and additional insured endorsements, waivers of subrogation, indemnification and hold-harmless clauses, loss prevention, business continuity and disaster recovery, life-safety plans.

~9%

Legal & Regulatory

ADA Title III public accommodations (readily achievable barrier removal, path of travel, 2010 ADA Standards), OSHA general-duty clause, EPA (CERCLA/Superfund, RCRA, asbestos NESHAP, AHERA, lead-based paint), Phase I/II ESA, commercial lease as a contract (default, cure, acceleration, mitigation, self-help, UCC Article 9 security interest in FF&E), bankruptcy (§365 assumption/rejection), eviction/unlawful detainer, IREM ethics enforcement.

~8%

Tenant Relations

Tenant onboarding and move-in orientation, tenant handbooks and rules and regulations, tenant retention programs and lease renewal strategy, service requests and response time SLAs, tenant satisfaction surveys (Kingsley Index benchmarks), communication plans, conflict resolution and mediation, collections and past-due management, cure notices and default remedies, late fees and default interest, tenant improvement coordination.

~6%

Sustainability & ESG

ENERGY STAR Portfolio Manager benchmarking and score 75+ for certification, LEED for Existing Buildings: Operations & Maintenance (LEED EB:OM, now O+M), BOMA 360, BREEAM In-Use, WELL Building Standard, GRESB reporting for institutional owners, energy audits (ASHRAE Level I/II/III), retro-commissioning, submetering and green-lease clauses, water-efficient fixtures, waste-diversion programs, solar and EV charging, Scope 1/2/3 emissions, SEC climate disclosure.

~5%

Marketing & Leasing Strategy

Market analysis and competitive set, effective rent and concessions (free rent, TI, moving allowance), broker engagement and commission structures (full commission at lease execution vs split at commencement/occupancy), property marketing (signage, brochures, virtual tours, CoStar/LoopNet listings), LinkedIn and digital marketing, branding and tenant-mix strategy in retail, merchandising plans.

~4%

Technology & PropTech

Property management systems (Yardi Voyager, MRI, RealPage, AppFolio Commercial, Entrata), CRM and lease management, CMMS and work-order platforms (Angus, Building Engines, Prism), IoT and smart-building controls, occupancy sensors, access control and visitor management, tenant experience apps (HqO, Rise, VTS), cybersecurity basics, data privacy (GDPR/CCPA), AI-assisted lease abstraction.

How to Pass the IREM ACoM Exam

What You Need to Know

Passing score: Criterion-referenced passing standard set by IREM (typically ~70% scaled)
Exam length: 120 questions
Time limit: Computer-based exam (proctored test center or online proctoring)
Exam fee: ~$1,500-$2,500 total including IREM courses, ethics, and certification exam (IREM 2026 — verify current schedule)

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

IREM ACoM Study Tips from Top Performers

1NNN lease mechanics — high yield: In a triple-net (NNN) lease, the tenant pays base rent PLUS a pro-rata share of the three 'nets' — real estate taxes, building insurance, and CAM (operating expenses). Absolute net shifts EVERY cost (including structure and roof) to the tenant. Gross lease = landlord pays everything. Modified gross = negotiated split. Percentage rent (retail) = base rent + (% of sales over a breakpoint); natural breakpoint = base rent / percentage.

2NOI and cap rate: NOI = Effective Gross Income (gross potential rent - vacancy/credit loss + other income) - Operating Expenses (taxes, insurance, utilities, management, maintenance). NOI excludes debt service, capex, and income taxes. Cap rate = NOI / Value (or Purchase Price). Rearranged: Value = NOI / cap rate. A higher cap rate = higher required return = higher risk / lower quality asset. DCR = NOI / Annual Debt Service; lenders typically require DCR ≥ 1.25.

3CAM reconciliation: Landlord estimates CAM at lease start and bills tenant monthly on a pro-rata basis (usually tenant GLA / total GLA). At year-end, landlord reconciles actual vs estimated: if actual > estimated, tenant owes a true-up; if actual < estimated, landlord refunds or credits. Watch for base-year (tenant pays increases over a fixed baseline year) vs expense-stop (tenant pays over a fixed dollar threshold) structures. Caps (fixed, cumulative, non-cumulative, compounding) limit tenant exposure.

4SNDA and estoppel certificates: SNDA (Subordination, Non-Disturbance, and Attornment) = tenant's lease is subordinate to the lender's mortgage, BUT lender agrees not to disturb tenant in a foreclosure, and tenant agrees to attorn (recognize lender as new landlord). Estoppel certificate = tenant certifies to a prospective buyer/lender the current lease terms, rent paid, no defaults, and no offsets. Both are routine at sale/refinance. Leases typically require tenant to sign within 10-20 days of request.

5ADA Title III pearls: Title III covers public accommodations (commercial facilities open to the public — retail, offices open to public, hotels). 'Readily achievable' barrier removal required in existing buildings (no major structural burden). Path of travel must be accessible to altered areas. New construction and alterations must meet 2010 ADA Standards for Accessible Design. Priority: (1) entrances and parking, (2) goods/services access, (3) restrooms, (4) other. ADA is FEDERAL — state accessibility codes (e.g., CBC 11B) may be stricter. Fair housing (FHA) is residential — generally NOT applicable to pure commercial.

Frequently Asked Questions

What is the IREM Accredited Commercial Manager (ACoM) certification?

The IREM ACoM is a certification from the Institute of Real Estate Management for commercial property managers overseeing office, retail, industrial, and mixed-use assets. It validates knowledge across leasing and lease administration, financial management and CAM reconciliation, maintenance and operations, risk management and insurance, legal and regulatory compliance, tenant relations, sustainability, marketing, and PropTech. ACoM is a stepping stone for managers pursuing the flagship IREM CPM designation.

Who is eligible for the IREM ACoM?

Candidates must have documented commercial real estate management experience (responsibilities managing office, retail, industrial, or mixed-use properties) and complete the required IREM ACoM course sequence including the IREM Ethics course. IREM membership in good standing is required, and candidates must adhere to the IREM Code of Professional Ethics. Confirm current eligibility on the IREM ACoM page.

What is the format of the ACoM exam?

The IREM ACoM certification exam is a computer-based 120-question multiple-choice test administered at proctored test centers or via online proctoring. Content is blueprinted to the IREM ACoM outline covering commercial leasing, financial management, property operations, risk and insurance, legal/regulatory, tenant relations, sustainability, marketing, and PropTech. The exam is criterion-referenced with a passing standard set by IREM subject-matter experts.

How much does the 2026 IREM ACoM cost?

Total cost for the IREM ACoM is approximately $1,500-$2,500 including the required IREM course sequence, ethics course, application, and certification exam fees. Cost varies by whether courses are taken individually or bundled and by IREM member/non-member status. IREM membership dues are additional. Always verify current pricing on the IREM website.

When can I take the ACoM exam?

The IREM ACoM certification exam is offered on demand through computer-based testing at proctored test centers and via online proctoring. After completing the required IREM courses and application, candidates schedule an exam appointment. Specific availability and scheduling windows should be confirmed on the IREM ACoM page.

How is the ACoM exam scored?

IREM uses criterion-referenced scoring with a passing standard set by subject-matter experts. A candidate's pass/fail result depends on performance relative to the fixed cut-score, not on other candidates. Candidates receive a pass/fail result and may receive domain-level feedback. Retakes are allowed per IREM policy after a waiting period with re-registration and fee payment.

What are the highest-yield topics?

Highest-yield topics include commercial lease structures (gross, modified gross, NNN, percentage rent), CAM reconciliation and base-year/expense-stop mechanics, NOI and cap rate (NOI / value), DCR 1.25+, SNDA and estoppel certificates, tenant improvement (TI) allowances, BOMA measurement standards, ADA Title III, Phase I ESA, commercial insurance (CGL, business income, COI/waivers of subrogation), ENERGY STAR Portfolio Manager and LEED EB:OM, and the IREM Code of Professional Ethics.

How should I study for the ACoM exam?

Use a structured 3-6 month plan aligned to the IREM course sequence. Start with CRE fundamentals, property types, and ethics; then leasing and financial management (CAM, NOI, cap rate, DCR); then operations, risk, and legal; and finish with sustainability, marketing, and PropTech. Use IREM course materials, the IREM Knowledge Base, and high-volume MCQ practice. Complete 2-3 full-length timed mock exams. Drill lease terminology, CAM math, and investment metrics.