Principles Quiz 13 Rooks

Principles Quiz 13 Rooks - Real Estate Principles El Camino...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Real Estate Principles El Camino Chapter 13 Quiz 1. Municipal bonds issued to fund streets, sewers and other infrastructure needs before a subdivision is built and paid for by the purchaser are called: A. Installment Bonds C. Mello-Roos Liens B. Bond Act Issuance D. Vrooman Act Bonds 2. With regards to depreciation of real property, which of the following is true according to income tax laws? A. The land cannot be depreciated, but the improvements can B. The land can be depreciated, but not the improvements C. The land and improvements can be depreciated D. Investment property cannot be depreciated 3. An owner can deduct a “loss” on the sale of residential property if that property: A. is a second residence C. has a homeowner’s exemption filed on it B. is a condominium D. has been converted into rental property 4. Each year property taxes in California (Proposition 13) are allowed to increase by what percentage? A. 1%
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/24/2008 for the course REAL ESTAT 210 taught by Professor Ghidella during the Spring '08 term at City.

Page1 / 2

Principles Quiz 13 Rooks - Real Estate Principles El Camino...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online