Real 4000 Exam 1 LCPQ and NCPQ and
other material Exam Q’s and A’s
Risk premiums for particular investments are determined in the Space (User)
Market. (T or F) - -False
- The investment-grade (a.k.a. institutional-grade) property market typically
includes investment properties greater than $_____________ in value, which
individual investors who directly invest in real estate usually cannot afford. -
-10,000,000
- Many REITs (Real Estate Investment Trusts), such as office tower owner
Boston Properties (traded as "BXP" on the New York Stock Exchange) are are
primarily an example of which sector of real estate investment? - -Public
Equity
- Kimi and Wayne go in together to purchase 1 square mile of land to use for
their bird watching club. How many acres of land do they own in total? - -
640
- Suppose that you are attempting to find the value of an income-producing
property. You have determined the capitalization rate to be 7.0%. If the
projected next-year net operating income (NOI) for the subject property is
$135,500 what is the indicated property value? - -1,935,714
(135,500/ .07)
- An example of an affirmative easement appurtenant? - -a common drive
easement where owners of adjoining lots must permit each other to use a
driveway lying on their shared property line
- Freehold estates has the least amount of rights (from the bundle of rights:
use, possession, and disposition?) - -ordinary life estate
- Haley and Francesca go in together to purchase 5,120 acres of land to use
for filming a massive reality show. Ten years later, Haley dies and is survived
by her spouse, who wants to sell half of the land on behalf of Haley's estate.
Francesca informs the spouse that they have no claim to the land because,
upon Haley's death, her ownership interest transferred to Francesca.
Assuming Francesca is correct, what type of co-ownership did Haley and
Francesca have? - -joint tenancy
- A fixture is an object that formerly was personal property but has become
real property. Of the following four rules for determining whether an object
, has become a fixture, which rule always applies to those items determined
to be trade fixtures of tenants in commercial real estate? - -relation of the
parties
- Direct co-ownership implies that each co-owner holds a titled interest in
the property but without exclusive possession with respect to the other co-
owners. Which of the following is a mix fee simple ownership and co-
ownership at the same time? - -condominium
- The covenants in a deed are the most important differences among types
of deeds. Which of the following warns the grantee about things that may
impact their ownership rights despite any promises made? - -exceptions and
reservation clause
- While archaic, the most flexible method of land description, capable of
describing even the most irregular of parcels, can be described as a very
precise, compass-directed walk around the boundary of a parcel. This
method is commonly referred to as - -metes and bounds
- A title search attempts to identify the sequence of conveyances passing
ownership down through time. This sequence is commonly referred to as the
______________ - -Chain of Title
- A New York City developer building "T-Tower" purchased an easement over
a next-door property owned by luxury store "Biffany's" so that residents of T-
Tower would never have their view of Central Park blocked by future
Biffany's construction. T-Tower likely purchased a ______________________ over
Biffany's (serviant) property. - -Negative Easement Appurtenant
- An easement by estoppel happens when a subdivision developer grants
the government and others easements on a plat which is printed on Mylar
sheets and recorded in the public record. (T or F) - -False
- What design factor is common in New Urban(ism) planning? - -A focus on
pedestrian safety
- What are your approx. taxes due on a $222,222 market-value property if
the county assesses value at 90%, allows for $75,000 in exemptions, and
charges 8 mills total? - -$1000
($222,222 * .90) -$75,000 =$124,999.80
$124,999.80 * .008 = Answer
(8 mills = .008)
- Zoning variances are approved by whom (which entity?) - -Board of
Adjustment
other material Exam Q’s and A’s
Risk premiums for particular investments are determined in the Space (User)
Market. (T or F) - -False
- The investment-grade (a.k.a. institutional-grade) property market typically
includes investment properties greater than $_____________ in value, which
individual investors who directly invest in real estate usually cannot afford. -
-10,000,000
- Many REITs (Real Estate Investment Trusts), such as office tower owner
Boston Properties (traded as "BXP" on the New York Stock Exchange) are are
primarily an example of which sector of real estate investment? - -Public
Equity
- Kimi and Wayne go in together to purchase 1 square mile of land to use for
their bird watching club. How many acres of land do they own in total? - -
640
- Suppose that you are attempting to find the value of an income-producing
property. You have determined the capitalization rate to be 7.0%. If the
projected next-year net operating income (NOI) for the subject property is
$135,500 what is the indicated property value? - -1,935,714
(135,500/ .07)
- An example of an affirmative easement appurtenant? - -a common drive
easement where owners of adjoining lots must permit each other to use a
driveway lying on their shared property line
- Freehold estates has the least amount of rights (from the bundle of rights:
use, possession, and disposition?) - -ordinary life estate
- Haley and Francesca go in together to purchase 5,120 acres of land to use
for filming a massive reality show. Ten years later, Haley dies and is survived
by her spouse, who wants to sell half of the land on behalf of Haley's estate.
Francesca informs the spouse that they have no claim to the land because,
upon Haley's death, her ownership interest transferred to Francesca.
Assuming Francesca is correct, what type of co-ownership did Haley and
Francesca have? - -joint tenancy
- A fixture is an object that formerly was personal property but has become
real property. Of the following four rules for determining whether an object
, has become a fixture, which rule always applies to those items determined
to be trade fixtures of tenants in commercial real estate? - -relation of the
parties
- Direct co-ownership implies that each co-owner holds a titled interest in
the property but without exclusive possession with respect to the other co-
owners. Which of the following is a mix fee simple ownership and co-
ownership at the same time? - -condominium
- The covenants in a deed are the most important differences among types
of deeds. Which of the following warns the grantee about things that may
impact their ownership rights despite any promises made? - -exceptions and
reservation clause
- While archaic, the most flexible method of land description, capable of
describing even the most irregular of parcels, can be described as a very
precise, compass-directed walk around the boundary of a parcel. This
method is commonly referred to as - -metes and bounds
- A title search attempts to identify the sequence of conveyances passing
ownership down through time. This sequence is commonly referred to as the
______________ - -Chain of Title
- A New York City developer building "T-Tower" purchased an easement over
a next-door property owned by luxury store "Biffany's" so that residents of T-
Tower would never have their view of Central Park blocked by future
Biffany's construction. T-Tower likely purchased a ______________________ over
Biffany's (serviant) property. - -Negative Easement Appurtenant
- An easement by estoppel happens when a subdivision developer grants
the government and others easements on a plat which is printed on Mylar
sheets and recorded in the public record. (T or F) - -False
- What design factor is common in New Urban(ism) planning? - -A focus on
pedestrian safety
- What are your approx. taxes due on a $222,222 market-value property if
the county assesses value at 90%, allows for $75,000 in exemptions, and
charges 8 mills total? - -$1000
($222,222 * .90) -$75,000 =$124,999.80
$124,999.80 * .008 = Answer
(8 mills = .008)
- Zoning variances are approved by whom (which entity?) - -Board of
Adjustment
