REE 3043 EXAM 1 CURCIO EXAM 2026 ACTUAL QUESTIONS WITH
VERIFIED SOLUTIONS ALREADY GRADED A+.
What are the two types of property? - (ANSWER)Tangible and Intangible
Tangible - (ANSWER)Physical assets that can be owned
Intangible - (ANSWER)Non physical assets such as stocks, bonds, mortgages and leases
Real estate as a tangible asset - (ANSWER)Raw land, improvements to the land and structures
(improvements on the land)
Real estate makes up 1/3 of the world's wealth (t/f) - (ANSWER)False, 1/2
Real estate generates - (ANSWER)1. Over 25% of the U.S gross domestic product (GDP)
2. Nearly 70% of local government revenue
3. Creates jobs for nearly 9 million Americans
How much does developed land represent in the U.S? - (ANSWER)6%
Real estate is second only to the public stock market in total market value (t/f) - (ANSWER)True
User Market - (ANSWER)1. Market for the physical real estate
2. Called the "space" or "rental" market
3. Rental rates are determined
4. Very "local" and usually highly competitive
User market demand and supply - (ANSWER)Demand: Individuals, households, firms that require space
Supply: Real estate owners/operators who rent to tenants
, REE 3043 EXAM 1 CURCIO EXAM 2026 ACTUAL QUESTIONS WITH
VERIFIED SOLUTIONS ALREADY GRADED A+.
User and space markets are not highly segmented (t/f) - (ANSWER)False
Capital Markets - (ANSWER)1. RE competes for funds in capital market with other asset classes, such as
stocks and bonds
2. Investors select a mix of investments based on expected returns & risk
3. Bidding by investors determines- risk free rates of various maturities and required risk premiums for
risky investments
Public Capital Markets - (ANSWER)Many buyers and sellers, price quotes for all to see, informationally
efficient
Private Capital Markets - (ANSWER)Absence of centralized market, Assets trade infrequently in private
transactions, Common for "whole" assets to be traded in a single transaction (indivisibility), less liquid
than public markets, higher transaction costs
Property Market - (ANSWER)Market for ownership claims to RE assets, Property market is integrated, not
segmented like space market
Equity/owners in private markets - (ANSWER)Individuals, partnerships, limited liability corporations,
private equity funds
Debt/lenders in private markets - (ANSWER)Banks, insurance companies, private lenders
Equity/ owners in public markets - (ANSWER)Public real estate investment trusts(REITs) and real estate
operating companies
Debt/lenders in public markets - (ANSWER)Commercial mortgage backed securities and mortgage REITs
VERIFIED SOLUTIONS ALREADY GRADED A+.
What are the two types of property? - (ANSWER)Tangible and Intangible
Tangible - (ANSWER)Physical assets that can be owned
Intangible - (ANSWER)Non physical assets such as stocks, bonds, mortgages and leases
Real estate as a tangible asset - (ANSWER)Raw land, improvements to the land and structures
(improvements on the land)
Real estate makes up 1/3 of the world's wealth (t/f) - (ANSWER)False, 1/2
Real estate generates - (ANSWER)1. Over 25% of the U.S gross domestic product (GDP)
2. Nearly 70% of local government revenue
3. Creates jobs for nearly 9 million Americans
How much does developed land represent in the U.S? - (ANSWER)6%
Real estate is second only to the public stock market in total market value (t/f) - (ANSWER)True
User Market - (ANSWER)1. Market for the physical real estate
2. Called the "space" or "rental" market
3. Rental rates are determined
4. Very "local" and usually highly competitive
User market demand and supply - (ANSWER)Demand: Individuals, households, firms that require space
Supply: Real estate owners/operators who rent to tenants
, REE 3043 EXAM 1 CURCIO EXAM 2026 ACTUAL QUESTIONS WITH
VERIFIED SOLUTIONS ALREADY GRADED A+.
User and space markets are not highly segmented (t/f) - (ANSWER)False
Capital Markets - (ANSWER)1. RE competes for funds in capital market with other asset classes, such as
stocks and bonds
2. Investors select a mix of investments based on expected returns & risk
3. Bidding by investors determines- risk free rates of various maturities and required risk premiums for
risky investments
Public Capital Markets - (ANSWER)Many buyers and sellers, price quotes for all to see, informationally
efficient
Private Capital Markets - (ANSWER)Absence of centralized market, Assets trade infrequently in private
transactions, Common for "whole" assets to be traded in a single transaction (indivisibility), less liquid
than public markets, higher transaction costs
Property Market - (ANSWER)Market for ownership claims to RE assets, Property market is integrated, not
segmented like space market
Equity/owners in private markets - (ANSWER)Individuals, partnerships, limited liability corporations,
private equity funds
Debt/lenders in private markets - (ANSWER)Banks, insurance companies, private lenders
Equity/ owners in public markets - (ANSWER)Public real estate investment trusts(REITs) and real estate
operating companies
Debt/lenders in public markets - (ANSWER)Commercial mortgage backed securities and mortgage REITs
