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303 NC POST LICENSING EXAM LATEST 2025 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED||
What is a core area? - ANSWER-Area used up for building
functions, lobbies, elevators, stairs, restrooms.
What is a rentable area? - ANSWER-Includes the usable area
plus the core area.
Floor plate - - ANSWER-Area of each floor determined by
measuring along the exterior walls.
Usable area - - ANSWER-The floor plan minus the core area.
Office rentable rates are usually calculated and based on? -
ANSWER-Square foot for the rentable area.
Tenant improvements - ANSWER-When tenant makes and pays
for repairs or improvements in a commercial lease or sale.
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Upfits - ANSWER-When owner makes and pays for repairs or
improvements in a commercial lease or sale.
What is considered a "Pass through provision" - ANSWER-Taxes,
insurance, and maintenence.
Net lease with a base year stop - ANSWER-When the owner pays
items for the first year and the tenant pays the amount in
subsequent years that is over the base amount.
Absorption studies - ANSWER-Provided by a commercial broker
to client, a study analyzing the amount of space leased and
available over a particular period of time.
Key factors that affect commercial retail space: - ANSWER--
Location
- Area demographics
- Traffic patterns
- Income levels
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- Growth
- Trends
There is no universally accepted standard for measuring of
leasing retail space, but is usually leased; - ANSWER-Square foot
as an annual dollar amount.
When dealing with an industrial space, environmental issues are
generally a major concern and sale or lease may involve
environmental impact studies. The following are examples; -
ANSWER-Phase I - Research and due diligence
Phase II - Core drilling, samples, testing
Phase III - Rem and clean up
In commercial, A common practice is to use
__________________________ before a final purchase contract
is put together by the parties. - ANSWER-Letter of intent
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Commercial purchase contracts usually contain an inspection
period. When dealing with commercial property this is known as
a.... - ANSWER-10 Day free look period
When valuing an income-producing property, the best appraisal
approach to utilize would be the - ANSWER-Income approach
Real estate that has not been an owner-occupied residence for 2
out of the last 5 years prior to sale, is subject to: - ANSWER-
Capital gains tax
Property that is used in a trade or business may qualify for a tax
credit in the form of: - ANSWER-Depreciation
When an investor seeks to sell a property that is subject to capital
gains tax and invests the money in another real estate
investment, they may elect to defer the tax by using a.. -
ANSWER-1031 Tax deferred exchange
303 NC POST LICENSING EXAM LATEST 2025 ACTUAL EXAM WITH
COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (100%
VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED||
What is a core area? - ANSWER-Area used up for building
functions, lobbies, elevators, stairs, restrooms.
What is a rentable area? - ANSWER-Includes the usable area
plus the core area.
Floor plate - - ANSWER-Area of each floor determined by
measuring along the exterior walls.
Usable area - - ANSWER-The floor plan minus the core area.
Office rentable rates are usually calculated and based on? -
ANSWER-Square foot for the rentable area.
Tenant improvements - ANSWER-When tenant makes and pays
for repairs or improvements in a commercial lease or sale.
,2|Page
Upfits - ANSWER-When owner makes and pays for repairs or
improvements in a commercial lease or sale.
What is considered a "Pass through provision" - ANSWER-Taxes,
insurance, and maintenence.
Net lease with a base year stop - ANSWER-When the owner pays
items for the first year and the tenant pays the amount in
subsequent years that is over the base amount.
Absorption studies - ANSWER-Provided by a commercial broker
to client, a study analyzing the amount of space leased and
available over a particular period of time.
Key factors that affect commercial retail space: - ANSWER--
Location
- Area demographics
- Traffic patterns
- Income levels
,3|Page
- Growth
- Trends
There is no universally accepted standard for measuring of
leasing retail space, but is usually leased; - ANSWER-Square foot
as an annual dollar amount.
When dealing with an industrial space, environmental issues are
generally a major concern and sale or lease may involve
environmental impact studies. The following are examples; -
ANSWER-Phase I - Research and due diligence
Phase II - Core drilling, samples, testing
Phase III - Rem and clean up
In commercial, A common practice is to use
__________________________ before a final purchase contract
is put together by the parties. - ANSWER-Letter of intent
, 4|Page
Commercial purchase contracts usually contain an inspection
period. When dealing with commercial property this is known as
a.... - ANSWER-10 Day free look period
When valuing an income-producing property, the best appraisal
approach to utilize would be the - ANSWER-Income approach
Real estate that has not been an owner-occupied residence for 2
out of the last 5 years prior to sale, is subject to: - ANSWER-
Capital gains tax
Property that is used in a trade or business may qualify for a tax
credit in the form of: - ANSWER-Depreciation
When an investor seeks to sell a property that is subject to capital
gains tax and invests the money in another real estate
investment, they may elect to defer the tax by using a.. -
ANSWER-1031 Tax deferred exchange
