REE 3043 TEST 2 QUESTIONS WITH VERIFIED ANSWERS – UPDATED!!!
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Course
REE 3043
Institution
REE 3043
REE 3043 TEST 2 QUESTIONS WITH VERIFIED ANSWERS – UPDATED!!!
Property taxes are the principal source of revenue for: - Answer-Local governments and school districts
Zoning is an exercise of which type of general limitation on property rights? - Answer-zoning police
Which of the following s...
REE 3043 TEST 2 QUESTIONS WITH
VERIFIED ANSWERS – UPDATED!!!
Property taxes are the principal source of revenue for: - Answer-Local governments and
school districts
Zoning is an exercise of which type of general limitation on property rights? - Answer-
zoning police
Which of the following statements is (are) correct regarding the June 2005 ruling of the
US Supreme Court on the Kelo vs. New London, Connecticut Eminent Domain Case. -
Answer-all of these answers are correct
The Federal government has the greatest influence on real estate through its
__________ policy - Answer-income tax
Real estate property taxes generate approximately _______ of local government
revenue - Answer-70%
As a result of growth management laws, municipalities may impose a number of
requirements, but not: - Answer-Employee benefit statement
Three students, John, Kathryn and Michelle, upon graduation from UCF, plan to invest
in Real Estate. John is going to buy shares in an Exchange-Traded, Equity, Real Estate
Investment Trust (REIT). Kathryn is going to purchase shares in Home Properties, Inc.
a leading Equity, REIT. Michelle is going to purchase a four-unit apartment building near
UCF, to rent to college students. In light of this, which of the following statements is
most correct? - Answer-John and Kathryn will be indirect equity investors in real estate
and Michelle will be a direct equity, real estate investor.
Which of the following statements is (are) correct about Real Estate Investment Trusts
(REITs): - Answer-All of these answers are correct. (Mortgage REITs lend money to
owners and developers of real estate, or invest in financial instruments secured by
mortgages on real estate; To qualify as a REIT, The Internal Revenue Service requires
that a company pay out 90% of its taxable income to shareholders every year; Hybrid
REITs are a combination of Equity REITs and Mortgage REIT; REIT shares trade on
national stock exchanges or in the over-the-counter markets (OTC); Equity REITs invest
in, or own, real estate and make money from the rents they collect.)
A market where tenants negotiate rent and other terms with property owners or their
managers is referred to as a: - Answer-user market
Which of these is a titled estate? - Answer-all of these answers are correct
, The city of Grand Rapids installed a new water main on Oak Street. The city then
decided to charge the property owners along Oak Street a proportional cost of the new
water main. If a property owner refuses to pay their proportional share of the cost, the
city may file: - Answer-an assessment lien
Which of these forms of co-ownership could best be described as "normal ownership,"
except that multiple owners share identically in one bundle of rights? - Answer-Tenancy
in common
Which of these liens has the highest priority? - Answer-property tax lien
The term "real estate" is used in three fundamental ways. These include all of the
following EXCEPT - Answer-to identify all types of property.
The single largest asset category of U. S. households, relative to their total assets, is: -
Answer-housing
Items that are not naturally-occurring on land, such as a building, sidewalk or swimming
pool are called the ____________ the land. - Answer-improvements on
Real Estate as an industry or profession includes which of the following: - Answer-All of
these answers are correct. (Government Regulation and Taxation, Property
Management, Mortgage Finance, Development)
Housing alone represents approximately ______ percent of U.S. household wealth. -
Answer-22
In Florida, designating a principal residence as a homestead: - Answer-protects the
residence from bankruptcy sale.
Rules used by the courts to determine whether something is a fixture include all
EXCEPT : - Answer-Law of Capture.
Which of these marriage-related forms of co-ownership gives the surviving spouse
about one-third of all the decedent's personal property and in-state real property? -
Answer-dower/curtesy
Which of the following is not a non-possessory interest in real property? - Answer-patent
The city of Grand Rapids installed a new water main on Oak Street. The city then
decided to charge the property owners along Oak Street a proportional cost of the new
water main. If a property owner refuses to pay their proportional share of the cost, the
city may file - Answer-an assessment lien
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