USP 151 Part2 Complete Questions And Answers Guaranteed Answers.

Which category of office space is older (but not the oldest), somewhat deteriorated buildings in good locations with slightly inferior finished, amenities, finishes and services? a. class A b. class b c. class c d. class d - correct answer C.class c The primary reasons companies seek new office space include all EXCEPT the following reasons: A. to expand their business b. to improve their corporate image c. to be closer to good schools for employer's children d. to consolidate dispersed activities into one office - correct answer C. to be closer to good schools for employer's children Assuming that a specific office market area has 2.5 million competitive square feet at the end of 2014 with a vacancy rate of 12%. By the end of 2018 the supply has increased to 3.5 million square feet with a vacancy rate of 8%. What is the annual average absorption of office space in this market? a. $755,000 sq. ft b. $140,000 sq. ft c. $540,000sq. ft. d. $255,000 sq. ft. - correct answer d. $255,000 sq. ft. Which of the following is NOT included in the calculation of effective rent? a. extra tenant improvements b. rent concessions c. present value of base rent d. shadow space - correct answer d. shadow space In measuring space using BOMA standards which measures the tenant space from inside finish of the outer walls to the inside finished surface of the office side of the public corridor and excludes public hallways, elevator lobbies and public restrooms is called: a. Rentable area b. usable area c. gross area d. gross leasable area - correct answer b. usable area Which of the following is TRUE regarding office site selection: A. A good office site should have convienient access to regional transportation system b. A mixed used environment should be avoided of the complexity in planning an office project c. Hilly topography should always be avoided due to the high cost of grading d. office use generally does not support high land values - correct answer a. A good office site should have convienient access to regional transportation system The type of building material is very costly but can give a building a sense of elegance and permanence and minimizes long-term maintenance costs. a. Decorative plaster b. Glass curtain wall c. Stone veneer d. Concrete tilt up walls - correct answer c. Stone veneer What is pro forma NOI assuming a proposed office development of 200,000 net rentable square feet, average monthly rent of $3.25 per square foot, 5% vacancy, and annual operating expenses of $12.00 per sq. ft.? a. $2.5 million b. $4 million c. $5 million d. $7.5 million - correct answer b. $4 million Which is TRUE regarding market demand for apartments: a.The higher price of urban infill land leads to reduced density levels compared to suburban locations. b.Developers only need to analyze occupancy at existing competitive to determine the need for apartments. c.Traditionally, the largest market segments have been young single and couples, and older empty-nesters. d.A waterfront site with panoramic views is best used for entry-level apartments. - correct answer c.Traditionally, the largest market segments have been young single and couples, and older empty-nesters. Which is NOT a primary factor in delineating the market area for a proposed apartment development: a.Existing and anticipated patterns of development b.Proximity to community parks c.Travel time from major employment centers d.Mass transportation and highway linkages to the site - correct answer b.Proximity to community parks Suppose a developer is interested in building a new apartment community. Through her market research, she has determined that the annual target market segment potential consists of 1,000 households. If the developer projects a capture rate of 10% for each of the next three years, how many total units does she plan on having rented by the end of year 3? a.100 units b.225 units c.300 units d.450 units - correct answer c.300 units In selecting an appropriate site for apartment development, which of the following is TRUE: a.A good site is one with positive synergy with surrounding land uses. b.The best site usually occurs from assembling multiple small parcels. c.A developer should always avoid hilltop conditions. d.Floodplains can typically be graded over to mitigate risks. - correct answer a.A good site is one with positive synergy with surrounding land uses. Before purchasing a site the developer should confirm that utilities are available adjacent to or nearby the site and also: a.Are priced at competitive rates b.Are financed with tax-increment funds c.Are in compliance with Federal regulation d.Ha