What agency administers the Interstate Land Sales Full Disclosure Act?
Consumer Financial Protection Bureau
Department of Energy
... [Show More] Conservation
Developers Land Sales Administration
Housing and Urban Development - ANSWERS -Consumer Financial Protection Bureau
(CFPB administers the act to protect consumers from the fraudulent sale of property sight unseen through the regulation of land sales across state lines.)
Hiram plans to do a 1031 tax-deferred exchange. He just sold his property. How many days does he have to close on a new property?
180
30
45
60 - ANSWERS -180
(Investors who want to use the 1031 tax-deferred exchange must identify the new property within 45 days of closing and must close within 180 days of the date of sale of the first property.)
In the real estate market, when demand exceeds supply, it means what?
There are an equal amount of homes for sale and buyers to purchase them.
There are more buyers than available homes and prices will be higher.
There are more homes than buyers and prices will be higher.
There are more homes than buyers and prices will be lower. - ANSWERS -There are more buyers than available homes and prices will be higher.
Which corporate structure avoids double taxation?
C corporation
General corporation
Limited corporation
Subchapter S - ANSWERS -Subchapter S
(By being taxed as a partnership, Subchapter S avoids taxation at both the corporate and individual levels.)
If a landlord wants to notify a tenant that the leased property is subject to a mortgage, what clause would be included in the lease?
Mortgage clause
Subjective clause
Subordination clause
Use clause - ANSWERS -Subordination clause
With which type of lease do tenants pay their base rent plus a percentage of their gross sales?
Full service
Graduated
Net
Percentage - ANSWERS -Percentage
Bridget has an investment portfolio that includes an equity REIT. Which of these is most likely to be part of the REIT's investment?
Mortgages secured by commercial properties
Mortgages secured by residential properties
Retail shopping centers
Undeveloped land parcels - ANSWERS -Retail shopping centers
(Equity REITs invest in income-producing property, such as a retail shopping center. Undeveloped land isn't likely to produce income, and equity REITs don't invest in mortgage debt. That's the role of mortgage REITs.)
Brandy is going to purchase a strip mall. She is trying to determine exactly how much to borrow for this purchase. She understands that the more she borrows, the greater her risk. What type of risk is she evaluating?
Business risk
Capital risk
Dynamic risk
Financial risk - ANSWERS -Financial risk
Marlin wants to invest big. He's interested in a commercial property that's at least 1.2 million square feet, has tons of parking, and at least two big name anchor tenants. What type of retail space is Marlin considering?
Factory outlet
Neighborhood center
Strip mall
Super-regional mall - ANSWERS -Super-regional mall [Show Less]