real estate quizmaster

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

Real Estate QUIZMASTER

100 100 100 100 100

200 200 200 200 200

300 300 300 300 300

400 400 400 400 400

500 500 500 500 500

Definitions Analytical Numerical MiscellaneousAcronyms


Definitions for 100

A 1031 exchange is one way to delay ______consequences from a sale


Definitions for 200

The effective _______ expresses the NPV of the lease in anequivalent annuity form


Definitions for 300

In this type of lease, the

tenant pays for all

operating expenses


Definitions for 400

“______ Time” is time which an agent spends answering phone calls


Definitions for 500

An agreement that fixes the time period and the minimum selling price acceptable to the seller is called a _________


Analytical for 100

There is an inherent conflict in the two seller objectives of minimizing the ____ to sell the home and maximizing the _____ obtained for it


Analytical for 200

Agents sometime claim that such listings become stigmatized


DAILY DOUBLE


The Taxable Income multiplied by the income tax rate equals the Taxes _______, if the Taxable Income is negative

Daily Double Analytical for 300


An increase in economic life will cause the tax shelter to _______

Analytical for 400


Analytical for 500Because agents in other countries where commission rates are lower sell a far greater number of homes that is typical in the US, economists believe that the American brokerage industry has considerable ________


L P V

Acronyms for 100


Acronyms for 200

F S B O


C M A

Acronyms for 300


Acronyms for 400

C A M


C C I M

Acronyms for 500


Numerical for 100

If the purchase price of an office property is $200,000 and the first year depreciation is $4,000, then this is the basis at the end of the first year


Numerical for 200

With 25% allocated to land, this is the annual depreciation on a $180,000 purchase price with no capital improvements made on this office property


Numerical for 300

If a 4-year commercial lease for 25,000 SF involved a base rent excluding CAM and other expenses of $25 PSF, this is the gross commission payable at a 5% rate


Numerical for 400

Assuming a standard discount rate of 12.5%, this is the Effective Rent of a 7 year net lease at $30/SF per year with 2 years of free rent up front


Numerical for 500

If the purchase price of an office building is $1,000,000 with no capital improvements considered, then this would be the basis after 1 year if 25% of this price was allocated to land


Miscellaneous for 100

Decreases in capital gains tax rates tend to ______ real estate values



The Cap Rate is equal to the NOI divided by the ______



REALTIST and NAR are both ___________ organizations



NOI – Debt Service = _______ before tax



M L S

real estate quizmaster

Documents

year net lease

net net net

year numerical

year commercial lease

purchase price

rate numerical

year depreciation

income tax rate