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Unit 7 Q-s questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating
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Unit 7 Q-s questions and correct answers (elaborations) with 100% accurate , verified , latest fully updated , 2024/2025 ,already passed , graded a+, complete solutions guarantee distinctions rationales| 5-star rating

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  • August 5, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • unit 7 q s questions and correct answers elaborat

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  • Commercial Construction
  • Commercial Construction

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Unit 7 Q's
- ANS-

39 years - ANS-Often ground leases are negotiated for 40 years because depreciation can be
taken on commercial properties built there for

a commercial property manager - ANS-An agent's duties include meeting with government
inspectors regarding air quality, making sure property is asbestos-free, and conducting efforts to
minimize levels of radon and bacteria. The agent is MOST likely

a county sheriff - ANS-An agent owns an investment property. One of her tenants has breached
the lease. She feels the tenant should be evicted. The notice of eviction is served by

a percentage lease - ANS-The type of lease often used in retail is

a residential property manager. - ANS-Managing properties intended for non-commercial
occupancy is the job of

a residential tenant - ANS-A grosse lease is typically used for

a triple net lease - ANS-The type of lease where a commercial tenant pays rent, utilities, and all
the charges that an owner normally pays, including taxes, insurance, and maintenance, is

an emotional issue for the buyer - ANS-Buying residential property is

an independent contractor - ANS-If a broker only pays a licensee when she produces a
transaction, it is likely the licensee is

an independent contractor agreement - ANS-The broker who takes on an affiliate broker as an
independent contractor must have the licensee sign

an independent contractor contract. - ANS-To define the broker-affiliate broker relationship, the
affiliate broker who will be practicing real estate as an independent contractor must sign

an operating budget - ANS-A financial statement that is a projection of income and expenses
over a one-year period is

assessments - ANS-In addition to the monthly association fee levied by a homeowners
association in a planned unit development or condo development, the association may also levy

asset managers - ANS-Mistakenly, property managers are sometimes considered

, budget comparison statement - ANS-At the end of a period, such as after a year of operation, a
statement comparing initial budget with actual results is a

cash flow report - ANS-Based on income and expenses, which of the following is a monthly
report of the financial status of a managed property?

commercial - ANS-Business property, including office space, shopping centers, stores, and so
on, is considered which type of property?

commercial property - ANS-A parking facility is an example of

consumers are often intimidated by face to face negotiation - ANS-One of the benefits to having
a real estate professional represent buyers and sellers in residential transactions is that

cooperative - ANS-Of the following, the only type of property considered residential real estate
is a

county sheriff - ANS-A property manager works with a tenant who did not pay rent last month
and has passed the grace period for paying rent this month. The manager feels that the BEST
course of action with this tenant is actual eviction. The eviction notice will be served by the

ECOA - ANS-Financial qualification standards must be applied in a similar fashion to all rental
applicants to avoid being accused of violating

economies of scale - ANS-The cost advantage that arises with increased output of a product
because of the inverse relationship between quantities produced and per-unit fixed cost is

effect a tax deferred exchange - ANS-A commercial agent has been told by a commercial
building owner that he would like to sell his commercial building but cannot afford to because of
the tax implications. The BEST solution the agent could suggest to the owner is to

employment contract - ANS-If a licensee is a real estate employee, it is likely but NOT
mandated by law that the broker will have the employee sign

environmental issues - ANS-Air quality, levels of radon gas, and asbestos are all concerns of
property managers and are considered

fair housing act - ANS-Discrimination against people in the purchase, sale, or lease of real
property because of their disability, familial status, religion, and skin color is prohibited by the

generate income for the owner - ANS-Three principal objectives of a property manager are to
preserve or increase the value of the investment property, achieve the objectives of the property
owner, and

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