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Question 1 of 60
1. Question
Category: CRE FinancingWhich one of the following business types is NOT eligible for SBA financing?
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Question 2 of 60
2. Question
Category: Appraisal BasicsNet Income Multiplier may be used within the Income Approach to develop a market value for the property.
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Question 3 of 60
3. Question
Category: CRE FinancingWhat is the maximum amortization/term on SBA 7a Real Estate Loans?
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Question 4 of 60
4. Question
Category: Appraisal BasicsYield capitalization techniques have more in common with discounted cash flow than with direct capitalization.
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Question 5 of 60
5. Question
Category: CRE FinancingWhat steps are key to insuring a fast closing? (Check all that apply)
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Question 6 of 60
6. Question
Category: Appraisal BasicsThe costs to lease up to stabilized occupancy should be accounted for in all three approaches to value.
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Question 7 of 60
7. Question
Category: Property ManagementWhat are the principal responsibilities of a property manager?
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Question 8 of 60
8. Question
Category: Appraisal BasicsThe actual rental income specified in a lease is also known as contract rent.
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Question 9 of 60
9. Question
Category: Property ManagementWhat is an example of a non-income producing asset?
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Question 10 of 60
10. Question
Category: Appraisal BasicsA reconstructed operating statement developed by an appraiser represents his or her opinion of the most probable future net operating income of the property.
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Question 11 of 60
11. Question
Category: Property ManagementIf a tenant has an underground storage leak the manager should
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Question 12 of 60
12. Question
Category: Appraisal BasicsThe best comparable sales are those that require the least quantitative adjustments or the least qualitative analysis.
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Question 13 of 60
13. Question
Category: Property ManagementWhat is NOT an owner’s goal?
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Question 14 of 60
14. Question
Category: Appraisal BasicsThe best comparable sales are those where the buyers of those sales would also consider the subject property as an alternative investment.
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Question 15 of 60
15. Question
Category: Property ManagementHow can a manager increase the value of a property?
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Question 16 of 60
16. Question
Category: Property ManagementA tenant falls on the sidewalk in front of the building…
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Question 17 of 60
17. Question
Category: CRE FinancingWhat is the down payment requirement for a general purpose owner occupied SBA loan?
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Question 18 of 60
18. Question
Category: Property ManagementWhat is a dark clause in a lease?
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Question 19 of 60
19. Question
Category: CRE FinancingWhat is the down payment requirement for a general purpose owner occupied conventional loan?
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Question 20 of 60
20. Question
Category: Property ManagementIf a tenant has an underground storage leak the manager should…
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Question 21 of 60
21. Question
Category: CRE FinancingWhat are the primary benefits of SBA 7a Financing Programs? (Select all that apply)
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Question 22 of 60
22. Question
Category: Property ManagementTo control expenses on a property you can…
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Question 23 of 60
23. Question
Category: CRE FinancingABC Inc. purchases a building for $1,000,000 using a conventional loan. The bank required a $250,000 down payment. What is the loan to value ratio of the project?
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Question 24 of 60
24. Question
Category: Property ManagementAn exclusion in a lease may be…
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Question 25 of 60
25. Question
Category: CRE FinancingXYZ Inc. purchases a building for $1,000,000 using an SBA loan. The bank required a $100,000 down payment. What is the loan to value ratio of the project?
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Question 26 of 60
26. Question
Category: Appraisal BasicsWhich of the following is NOT a recognized method of depreciation within the Cost Approach?
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Question 27 of 60
27. Question
Category: CRE FinancingWhat percentage of the building must be owner occupied to qualify for SBA Financing?
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Question 28 of 60
28. Question
Category: Appraisal BasicsThe contributory value of any site improvements using the cost as the starting point must deduct all applicable depreciation.
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Question 29 of 60
29. Question
Category: CRE FinancingWhich of the following expenses can often be added to an SBA 7a financing project? (Select all that apply)
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Question 30 of 60
30. Question
Category: Appraisal BasicsEntrepreneurial Incentive should be developed even under depressed market conditions within the Cost Approach.
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Question 31 of 60
31. Question
Category: Types of CREWhich of the following property characteristics are critical to a retail property user:
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Question 32 of 60
32. Question
Category: Types of CRECeiling height is most critical for which type of property use:
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Question 33 of 60
33. Question
Category: Types of CREThe typical freestanding drug store on the corner leased by Walgreens/CVS can be classified as:
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Question 34 of 60
34. Question
Category: Types of CREThe most important consideration for real estate investors buying property is usually:
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Question 35 of 60
35. Question
Category: Types of CREWhich of the following would NOT be considered “specialty” real estate?
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Question 36 of 60
36. Question
Category: Types of CREWhich of the following is the least important consideration for manufacturing users on choosing locations?
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Question 37 of 60
37. Question
Category: Types of CREShared conference facilities and nearby shopping and dining amenities are most important to:
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Question 38 of 60
38. Question
Category: Types of CREWhich of the following is least consistent with a mixed-use description for real estate:
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Question 39 of 60
39. Question
Category: Types of CREThe configuration and location of manufacturing facilities:
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Question 40 of 60
40. Question
Category: Types of CREGarden office buildings are always distinguished from mid-rise office buildings by:
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Question 41 of 60
41. Question
Category: Lease AgreementsA commercial property lease is different from most residential leases because:
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Question 42 of 60
42. Question
Category: Lease AgreementsWhich of the following is a critical element of all commercial leases:
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Question 43 of 60
43. Question
Category: Lease AgreementsA real estate broker should advise their client to consult an experienced real estate attorney for a commercial lease:
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Question 44 of 60
44. Question
Category: Lease AgreementsCo-tenancy, exclusive use and narrow/specific use restrictions are most prevalent and important in:
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Question 45 of 60
45. Question
Category: Lease AgreementsIn a triple net lease, the Landlord is usually responsible for which of the following expenses and not reimbursed by the Tenant for:
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Question 46 of 60
46. Question
Category: Lease AgreementsIn a gross, full service office lease with a base year expense stop, the Tenant pays which the following in addition to base rent:
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Question 47 of 60
47. Question
Category: Lease AgreementsThe following are typical remedies for the Landlord in the event of a Tenant default under a commercial lease:
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Question 48 of 60
48. Question
Category: Lease AgreementsA personal guaranty of a lease:
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Question 49 of 60
49. Question
Category: Lease AgreementsAn estoppel certificate or estoppel letter from a Tenant:
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Question 50 of 60
50. Question
Category: Lease AgreementsA letter of intent:
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Question 51 of 60
51. Question
Category: Purchase AgreementsGenerally, the best property description to use for a commercial purchase agreement is:
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Question 52 of 60
52. Question
Category: Purchase AgreementsA liquidated damages clause in a purchase agreement:
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Question 53 of 60
53. Question
Category: Purchase AgreementsThe benefits of using standardized form purchase agreements include:
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Question 54 of 60
54. Question
Category: Purchase AgreementsA purchase agreement for a leased property should include provisions for:
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Question 55 of 60
55. Question
Category: Purchase AgreementsThe preferable type of survey to specify for a commercial property purchase is:
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Question 56 of 60
56. Question
Category: Purchase AgreementsA phase I environmental assessment includes:
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Question 57 of 60
57. Question
Category: Purchase AgreementsTitle insurance:
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Question 58 of 60
58. Question
Category: Purchase AgreementsTitle insurance endorsements can be used:
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Question 59 of 60
59. Question
Category: Purchase AgreementsWhich of the following is/are true?
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Question 60 of 60
60. Question
Category: Purchase AgreementsThe review of the title commitment and survey: