Midterm Study Guide_DISTRIBUTION

Midterm Study Guide_DISTRIBUTION - University of Southern...

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University of Southern California PPD 362 Mid Term Study Guide CHAPTER 1 – The Nature of Real Estate and Real Estate Markets 1. What are considered improvements on land? 2. Approximately what percentage of the United States GDP is generated by real estate? 3. Land without any improvements is sometimes called what kind of land? 4. The term “real estate” is used in what three fundamental ways? 5. Identify three sectors that interact to derive real estate values. 6. What type of methods does the federal government use to influence the real estate market? 7. Understand and name examples of an intangible asset. 8. The market in which interest rates matter significantly is referred to in the text as what type of market? 9. How does real estate as an asset class rank in the U.S.? 10. Name a properties characteristic which is NOT a factor in determining the value of a real estate “bundle” of rights. 11. Which level of government has the least effect on real estate? 12. Name an example of a primary participant in the user market. 13. Approximately what percent of land in the U.S. is privately owned? 14. With respect to capital markets in real estate, what are “equity participants” generally refer to? CHAPTER 2 – Value of Real Estate Decisions 15. Describe the best term used to describe the ability to sell a property quickly for its fair market value. 16. What is the process of converting future benefits to their equivalent present cash value? 17. Which offers the lowest degree of uncertainty in investment cost? 18. What two elements are involved in every investment decision? 19. A portfolio of rental properties may be a good investment for a person with what? 20. Which type of value provides an estimate of the probable market price of a property? 1 of 6
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21. What would a monetary investment decision for a home include? 22. Identify activities which may add incremental investment value to a property? 23. Name which property type has the greatest volatility. 24. Name which property has the lowest level of real estate investment risk? 25. What does the yield of an investment refer to? 26. Identify the best example of a nonmonetary real estate investment. 27. What is the greatest single cash flow uncertainty for most real estate investments at the end of the investor’s holding period? 28. Viewing real estate investments in the context of the owner’s other assets and the owner’s overall financial situation may be thought of as what kind of perspective? CHAPTER 3 – Legal Foundations of Value 29. Understand the definition of real property. 30.
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Midterm Study Guide_DISTRIBUTION - University of Southern...

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