CECD EXAM SCRIPT TESTED QUESTIONS
FULL SOLUTION PREMIUM STUDY
MATERIAL
●● Ad Valorem Tax
Answer: A tax levied on the value of the taxed item. Local property
taxes are generally ad valorem taxes.
●● Adaptive Reuse
Answer: The rehabilitation of old property for a new purpose
●● AFDC
Answer: Aid to Families with Dependent Children provides income
assistance to low income families. This has been replaced by TANF,
Temporary Assistance to Needy Families.
●● Amortization
Answer: The liquidation of a debt via a specified schedule of payments.
●● Anchor, or "Key" Tenant
Answer: The most important tenant, often the largest, in a development
project whose lease is usually instrumental in securing financing for the
project and in attracting other tenants.
,●● Affordable Housing
Answer: Housing which consumes no more than 30% of household
income.
●● Angel Investor
Answer: An investor who provides equity investment to start-up
businesses.
●● Assessed Valuation
Answer: The monetary worth of a property for the purposes of taxation.
Total assessed valuation denotes the sum of the monetary worth of all
taxable properties within a jurisdiction.
●● Assets
Answer: Business property acquired at a measurable cost, the use of
which is related to the business operations. (see also fixed assets)
●● BOTs (Build, Operate, and Transfer)
Answer: Process in which a private company finances, builds, and
operates an infrastructure system for a fixed time, during which the
government has a regulatory and oversight role. At the end of the
project, usually 15 to 25 years, the system is transferred back to the
government.
,●● Bankable
Answer: A person who can qualify for a loan at a commercial lending
institution
●● Base Industry
Answer: Also known as "export" or "primary" industries, base industries
sell or export their products and services outside the community and
bring new dollars into the community, increasing the total dollars that
circulate within the community and that are spent on non-base
industries.
●● Benchmarking
Answer: Quantifiable measures of economic competitiveness and quality
of life that can be collected on a regular basis. They are used to measure
a region's economic status and progress against comparable regions.
●● Bond
Answer: A certificate of debt issued by a government or corporation,
guaranteeing payment of the original investment, plus interest by a
specified future date.
●● Bond Banks
Answer: State-level agencies that assist local governments in acquiring
capital financing, usually through debt issuance. In other words, local
, governments issued bonds bought by a state-established bond bank,
thereby lowering the cost of issuance for the individual jurisdiction by
sharing fixed issuance costs with the other members of the bond pool.
Bond banks are especially helpful to smaller communities that typically
have lower budgets and cannot afford the true costs of bond issuance.
Protecting many bond banks is the provision that they may intercept
state aid to a local government if that government defaults on its
obligation to the bond bank.
●● Bond Rating
Answer: An estimation of the relative credit-worthiness of a corporation
or governmental unit. Private investment service companies make such
estimates, generally designating the most credit-worthy borrowers as
triple A.
●● Brownfields
Answer: Commercial or industrial sites that are abandoned or under-
utilized, and have real or perceived environmental contamination
●● Business Assistance Center
Answer: A one-stop center for streamlining local permitting, licensing,
and fee payment processes and facilitating the decision-making process
●● Business Climate
FULL SOLUTION PREMIUM STUDY
MATERIAL
●● Ad Valorem Tax
Answer: A tax levied on the value of the taxed item. Local property
taxes are generally ad valorem taxes.
●● Adaptive Reuse
Answer: The rehabilitation of old property for a new purpose
●● AFDC
Answer: Aid to Families with Dependent Children provides income
assistance to low income families. This has been replaced by TANF,
Temporary Assistance to Needy Families.
●● Amortization
Answer: The liquidation of a debt via a specified schedule of payments.
●● Anchor, or "Key" Tenant
Answer: The most important tenant, often the largest, in a development
project whose lease is usually instrumental in securing financing for the
project and in attracting other tenants.
,●● Affordable Housing
Answer: Housing which consumes no more than 30% of household
income.
●● Angel Investor
Answer: An investor who provides equity investment to start-up
businesses.
●● Assessed Valuation
Answer: The monetary worth of a property for the purposes of taxation.
Total assessed valuation denotes the sum of the monetary worth of all
taxable properties within a jurisdiction.
●● Assets
Answer: Business property acquired at a measurable cost, the use of
which is related to the business operations. (see also fixed assets)
●● BOTs (Build, Operate, and Transfer)
Answer: Process in which a private company finances, builds, and
operates an infrastructure system for a fixed time, during which the
government has a regulatory and oversight role. At the end of the
project, usually 15 to 25 years, the system is transferred back to the
government.
,●● Bankable
Answer: A person who can qualify for a loan at a commercial lending
institution
●● Base Industry
Answer: Also known as "export" or "primary" industries, base industries
sell or export their products and services outside the community and
bring new dollars into the community, increasing the total dollars that
circulate within the community and that are spent on non-base
industries.
●● Benchmarking
Answer: Quantifiable measures of economic competitiveness and quality
of life that can be collected on a regular basis. They are used to measure
a region's economic status and progress against comparable regions.
●● Bond
Answer: A certificate of debt issued by a government or corporation,
guaranteeing payment of the original investment, plus interest by a
specified future date.
●● Bond Banks
Answer: State-level agencies that assist local governments in acquiring
capital financing, usually through debt issuance. In other words, local
, governments issued bonds bought by a state-established bond bank,
thereby lowering the cost of issuance for the individual jurisdiction by
sharing fixed issuance costs with the other members of the bond pool.
Bond banks are especially helpful to smaller communities that typically
have lower budgets and cannot afford the true costs of bond issuance.
Protecting many bond banks is the provision that they may intercept
state aid to a local government if that government defaults on its
obligation to the bond bank.
●● Bond Rating
Answer: An estimation of the relative credit-worthiness of a corporation
or governmental unit. Private investment service companies make such
estimates, generally designating the most credit-worthy borrowers as
triple A.
●● Brownfields
Answer: Commercial or industrial sites that are abandoned or under-
utilized, and have real or perceived environmental contamination
●● Business Assistance Center
Answer: A one-stop center for streamlining local permitting, licensing,
and fee payment processes and facilitating the decision-making process
●● Business Climate
