Exam (elaborations)

FIN336 Exam 1 & 2 || with 100% Errorless Solutions.

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Which of these is the best example of an investment property? A) A small commercial building owned by a limited partnership that occupies the building as its offices B) A single-family home owned by a bank after foreclosure on a mortgage C) An apartment building owned by a limited partnership ...

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Uploaded on August 25, 2024
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FIN336 Exam 1 & 2 || with 100% Errorless Solutions.
Which of these is the best example of an investment property?

A) A small commercial building owned by a limited partnership that occupies the building as its
offices
B) A single-family home owned by a bank after foreclosure on a mortgage
C) An apartment building owned by a limited partnership
D) A single-family home purchased by an individual who plans to live there while the home
increases in value correct answers C) An apartment building owned by a limited partnership

A nonprofit organization that operates a hospital and owns the hospital property would be
categorized as a/an

A) investor-owner
B) incidental or interim owner
C) facilitator
D) institutional owner correct answers D) An institutional owner

After World War II, many more people were able to own cars, which led to the development of
suburbs. Which aspect of new suburban lifestyle contributed most to an increased need for
property management services?

A) front lawns & backyards
B) subdivision restrictions
C) fewer city dwellers
D) shopping malls correct answers D) Shopping malls

In states where property managers generally must be licensed, there are usually a number of
exemptions from the licensing requirement. Out of the following choices, who is most likely to
be exempt?

A) A commercial leasing agent
B) The resident manager of an apartment complex
C) A property manager who has two or more years of post-secondary education
D) A property manager who specializes in single-family rental homes correct answers B) The
resident manager of an apartment complex

A property manager is authorized to represent his client in dealings with third parties, such as
tenants, suppliers, and contractors. As a result, the manager's relationship with the property
owner is governed by:

A) the statue of limitations
B) administrative law
C) the statue of frauds
D) agency law correct answers D) Agency law

,Alan has been hired to manage a new building. The first 2 floors have retail space; the next two
have office space; and the remaining 6 floors have residential rental units. This type of building
is commonly referred to as

A) planned unit development
B) special-purpose property
C) mixed-use property
D) condominium correct answers C) Mixed-use property

Which of these has the greatest impact on a property manager's day-to-day tasks in connection
with a particular managed property?

A) How old the buildings are
B) How volatile the current rental market is
C) The type of property and how large it is
D) The client's goals for the property correct answers C) The type of property and how large it is

Which of these types of properties is the least likely to be managed by a professional property
manager?

A) A mid-sized farming operations near a city
B) A stand-alone retail building in a subrub
C) A single-family home in a middle-class neighborhoods
D) An office tower in a central business district correct answers A) A mid-sized farming
operations near a city

Christine manages a total of 23 residential properties owned by 9 different clients. Each property
has a site manager who handles most of the daily management tasks and reports to Christine. She
supervises the site managers, makes decisions about many of the issues that arise, and consults
with and reports to the clients. Of the following choices, which is the most appropriate job title
for Christine?

A) Asset manager
B) Facilities managers
C) Property manager
D) Building manager correct answers C) Property manager

Which of these property management tasks would typically be handled by a resident manager?

A) Responding to a tenant's request for a new refrigerator
B) Collecting monthly rents and following up with tenants who don't pay on time
C) Maintaining the common areas
D) All of the above correct answers D) All of the above

, Someone who fulfills much of the same role for an office building as a resident manager does for
an apartment building (except, of course, for living in it) is usually called the:

A) building manager
B) office manager
C) institutional owner
D) asset manager correct answers A) Building manager

An increase in the value of an investment over time is called:

A) inflation
B) leverage
C) liquidity
D) appreciation correct answers D) Appreciation

When investors are deciding where to invest their money, they evaluate the available investment
opportunities in terms of 3 interrelated characteristics. These key characteristics are:

A) safety, risk, liquidity
B) diversity, equity, liquidity
C) yield, profit, return
D) safety, liquidity, yield correct answers D) safety, liquidity, and yield

At the outset, when an investment is first made, the yield from the investment is:

A) always uncertain, unless subject to government regulation
B) usually fixed rather than uncertain
C) often uncertain, and could turn out to be either higher or lower than expected
D) often uncertain, and may turn out to be lower (but not higher) than expected correct answers
C) Often uncertain, and could turn out to be either higher or lower than expected

The various investments that an investor currently holds, plus any cash reserves, are referred to
as the investor's:

A) red folder
B) risk profile
C) cache
D) portfolio correct answers D) portfolio

Which of these is one of the advantages of investing in real estate?

A) immobility
B) risk-free capital accumulation
C) the possibility of appreciation
D) liquidity correct answers C) The possibility of appreciation

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Exam (elaborations)

FIN336 Exam 1 & 2 || with 100% Errorless Solutions.

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