Test Bank for Chapter 1 Real Estate
Principles: A Value Approach 4th Edition
by Valerie D. Thompson
Private Markets (Equity/owners) - ANSIndividuals, partnerships, limited liability corporations,
private equity funds
Private Markets (Debt/lenders) - ANSBanks, insurance companies, finance companies, private
lenders
Public Markets (Equity/owners) - ANSPublicly traded real estate investment trusts (REITs) and
real estate companies
Public Markets (debt/lenders) - ANSCommercial mortgage backed securities (CMBS) and
mortgage REITs
property - ANSanything of value that is owned or possessed
tangible assets - ANSphysical things, such as automobiles, clothing, land, or buildings
intangible assets - ANSnonphysical assets such as patents and copyrights
Real estate - ANSLand and Utah permanent improvements
Improvements on the land include - ANSany fixed structures such as buildings, fences, walls,
and decks
Improvements to the land include - ANScomponents necessary to make the land suitable for
building construction or other uses
Land - ANSoften used to refer to a building site, or lot, and includes the infrastructure but not
any structures
raw land - ANSlarger area that does not include any improvements
Real property is used interchangeably with - ANSReal estate
Personal Property - ANSmovable items such as automobiles
Principles: A Value Approach 4th Edition
by Valerie D. Thompson
Private Markets (Equity/owners) - ANSIndividuals, partnerships, limited liability corporations,
private equity funds
Private Markets (Debt/lenders) - ANSBanks, insurance companies, finance companies, private
lenders
Public Markets (Equity/owners) - ANSPublicly traded real estate investment trusts (REITs) and
real estate companies
Public Markets (debt/lenders) - ANSCommercial mortgage backed securities (CMBS) and
mortgage REITs
property - ANSanything of value that is owned or possessed
tangible assets - ANSphysical things, such as automobiles, clothing, land, or buildings
intangible assets - ANSnonphysical assets such as patents and copyrights
Real estate - ANSLand and Utah permanent improvements
Improvements on the land include - ANSany fixed structures such as buildings, fences, walls,
and decks
Improvements to the land include - ANScomponents necessary to make the land suitable for
building construction or other uses
Land - ANSoften used to refer to a building site, or lot, and includes the infrastructure but not
any structures
raw land - ANSlarger area that does not include any improvements
Real property is used interchangeably with - ANSReal estate
Personal Property - ANSmovable items such as automobiles
