Real Estate 306 Final Exam; Questions and Answers 100% Correct
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Course
Real Estate 306
Institution
Real Estate 306
Real Estate 306 Final Exam; Questions and
Answers 100% Correct
market where tenants negotiate rent and other terms with property owners as their managers
is: Correct answer-the user market
market in which required rates of return on available investment opportunities is: Correct
answer-the ...
Real Estate 306 Final Exam; Questions and
Answers 100% Correct
market where tenants negotiate rent and other terms with property owners as their managers
is: Correct answer-the user market
market in which required rates of return on available investment opportunities is: Correct
answer-the capital market
the actions of local, state and federal governments affect real estate values: Correct
answer-through user markets, capital markets and taxation
what portion of households own their house? Correct answer-2/3
which asset category has the highest market value? Correct answer-non-gov't real estate
storm water drainage systems best described as: Correct answer-improvements to the
land
single largest asset category in portfolio of typical U.S. household? Correct answer-
housing
real estate markets differ from other asset classes in that they're: Correct answer--
localized
-high transaction costs
, Real Estate 306 Final Exam; Questions and
Answers 100% Correct
-segmented
-heterogenous
which attribute of a home is most difficult to observe & value? Correct answer-location
attributes
rules to determine whether something is a fixture Correct answer-intention of parties
manner of attachment
character of article/manner of adaption
relation of the parties
ownership/freehold estates: Correct answer-indefinite in length, titled complete:
fee simple absolute
fee simple conditional
ordinary life estate & remainder
legal life estate
fee simple conditional Correct answer-ownership subject to condition/trigger event
legal life estate Correct answer-created by action of law, meant to protect families but
creates problems
, Real Estate 306 Final Exam; Questions and
Answers 100% Correct
nonownership/nonfreehold/leasehold estates Correct answer-limited in time, no right to
disposition, not titled interests:
tenancy for years, periodic tenancy, tenancy at will, tenancy at sufferance
tenancy for years Correct answer-must have written formal lease to be enforceable
periodic tenancy Correct answer-no definite term at the start, oral & informal, length of
period implied by payment period, more risk
tenancy at will Correct answer-agreement that tenant will stay beyond end of lease until
they or landlord gives notice
suits if building being sold or renovated in near future
tenancy at sufferance Correct answer-tenant is supposed to leave but doesn't
not trespassing until landlord accepts a rental payment
nonpossessory interests Correct answer-bundles of real property rights that don't include
possession:
easements
restrictive covenants
liens
, Real Estate 306 Final Exam; Questions and
Answers 100% Correct
easement Correct answer-right to use land for specific and limited purpose
easements appurtenant Correct answer-servient parcel gives up benefit to dominant
parcel, that benefit becomes permanent & inseperable feature of both parcels
2 docs borrow must always create in a mortgage loan Correct answer-note & deed of
trust (mortgage)
note Correct answer-defines exact terms & conditions of loan
actual interest charged/month on RE loans = Correct answer-annual stated contract
interest rate / 12 x the beginning of the month balance
ARM Correct answer-mortgage w/ adjustable interest rate
index rate Correct answer-market determined interest rate "moving part" in ARM
most common index rates Correct answer-1. U.S. treasury constant maturity rate (1 yr in
maturity)
2. cost-of-funds index (for depository lenders)
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