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REE 3043 TEST 2 QUESTIONS WITH VERIFIED ANSWERS – UPDATED!!!
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REE 3043 TEST 2 QUESTIONS WITH VERIFIED ANSWERS – UPDATED!!! Which of the following statements is least correct? - Answer-Urban land use patterns have no influence on real estate location patterns. Which of the following is not correct regarding Timeshares? - Answer-they are great financial i...

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  • September 5, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
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REE 3043 TEST 2 QUESTIONS WITH
VERIFIED ANSWERS – UPDATED!!!
Which of the following statements is least correct? - Answer-Urban land use patterns
have no influence on real estate location patterns.

Which of the following is not correct regarding Timeshares? - Answer-they are great
financial investments

What is the main determinant of the hierarchy of central place patterns? - Answer-
Population required for market

The economic base multiplier of a city tends to be greater if the city is: - Answer-larger

The best example of a base economic activity would be a: - Answer-regional sales
office

Important supply factors affecting a city's growth or growth potential include all except
the: - Answer-unemployment rate

Which of these influences will decrease the level of a bid-rent curve at the center of the
city? - Answer-faster travel time

Orlando, Florida is home to Disney World. As such, Orlando has become one of the
leading destinations in the world. People traveling there stay for days, weeks or longer
with their families and friends. These people spend money on hotels, food, recreation
and many other things, locally. Disney World is an example of: - Answer-an economic
base multiplier.

Rochester, Minnesota is home to the Mayo Clinic. People travel from all over the world
to be treated there because of its renowned reputation. Some people stay for weeks
with large groups of people, and spend a lot of money. The hospital is an example of: -
Answer-an economic base multiplier

Which of the following statements is least correct about Real Estate Investment Trusts
(REITs): - Answer-REIT shares trade only on national stock exchanges.

A large mall has been built at a previously underdeveloped intersection. Since its
completion, the mall has become very popular. Many nearby residents are upset about
the long waits they are now experiencing at the intersection. This externality is called: -
Answer-congestion

A property zoned "agriculture" is used for grazing sheep. This is considered: - Answer-a
conforming use.

local government influences real estate market through: - Answer-Zoning codes and
other land regulations

, An important measure in rectangular survey descriptions is the: - Answer-acre

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

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