RES 3200
Spring 2017, CMWA 10:45AM
Exam 2. April 24, 2017
Name: A 4st r Mejg
C
Exam Instructions:
02 You have the entire exam period, 10:45AM12:00PM, to complete this exam.
'3 You may use an approved calculator. (No cell phones and no graphing calculator
Name:
_
Baruch College
Zicklin School of Business
RES3200
=
FAILURE TO FOLLOW INSTRUCTIONS WILL COST POINTS
ALL ANSWERS GO IN THE BACK!
=
1. Dont open the exam until I tell you that you may do so.
You have the entire class to complete the exam.
10:30 am1
Name:
_
Baruch College
Zicklin School of Business
RES3200
=
FAILURE TO FOLLOW INSTRUCTIONS WILL COST POINTS
ALL ANSWERS GO IN THE BACK!
=
1. Dont open the exam until I tell you that you may do so.
You have the entire class to complete the exam.
10:30 am1
Zicklin School of Business
Baruch College
Homework #4
RES3200: Residential Underwriting & Valuation
Instructions:
1. Round all final dollar amounts to the nearest cent and dont enter the dollar sign.
E.g. if the answer is $1,022.912, enter it as 1,022.91.
BARUCH COLLEGE
RES 3400 (EMWA 45251)
Real Estate Capital Markets
Spring 2017
Instructor: Professor Mingming Qiu Ph.D
Class Schedule: Tuesday and Thursday, 5:50PM  7:05PM
Classroom: C  Newman 203
Email: [email protected]
Office: Real Estate De
Problem Set 5: Solutions
RES 3200
4/9/2017
Question 1
You are considering buying a property today for
$300,000. You plan to finance this purchase with
80% debt (LTV=0.8 on mortgage). The appreciation
rate on the property value is expected to be 3%
annuall
1. Which of the following increases default risk to CMBS investors?
A. Geographic concentration
B. Longterm leases
C. External tail
D. All of the above
E. None of the above
2. What is the Macaulay duration of a 2year bond with a par
value of $1,000 that
Commercial Real Estate
Legal Ownership Structures
Baruch College: RES3200
1
Baruch College: RES3200
RES3200
2
Intro
Legal
Finance
FRM
Exam 1
ARM
Refi
Underwriting
Buy vs Lease
Exam 2
Commercial RE
Pro Forma
Underwriting
Cap rates
Leverage
R
Commercial Real Estate
Value Creation & Capital Structure
Baruch College: RES3200
1
Baruch College: RES3200
RES3200
2
Intro
Legal
Finance
FRM
Exam 1
ARM
Refi
Underwriting
Buy vs Lease
Exam 2
Commercial RE
Pro Forma
Underwriting
Cap rates
Lev
Homework Part I
Last Name:
First Name:
Problem 1:
$50,000 is due 20 years from today. The borrower wants to make yearly payments at the end of each year into a fund
that will earn compound interest at an annual rate of 5%, compounding yearly. What will th
Exam 1 NPV Question
Baruch College: RES3200 SET 6
1
Baruch College: RES3200
RES3200
2
Intro
Legal
Finance
FRM
Exam 1
ARM
Refi
Underwriting
Buy vs Lease
Exam 2
Commercial RE
Pro Forma
Underwriting
Cap rates
Leverage
Risk
Development
Owners
Homework Part II
Last Name:
First Name:
Problem 1:
$50,000 is due 20 years from today. The borrower wants to make semiannual payments into a fund that will earn
compound interest at an annual rate of 5%, compounding monthly. When you calculate the semia
Zicklin School of Business
Baruch College
Homework #5
RES3200: Commercial Real Estate
Due: 11282016 at 11:59 pm
Instructions:
1. Round all final dollar amounts to the nearest cent and dont enter the dollar sign.
E.g. if the answer is $1,022.912, enter i
Ann is looking to buy an office building in 2014. She plans to rent it out for 5 years (20152019) and sell it
at the end of 2019.
(1) Use the first sheet of the spreadsheet (titled NOI) to compute the Net Operating Income (NOI) for
this property for 2015
Ann would like to buy a house.
It costs $800,000.
Her down payment will be $40,000.
She will take out a mortgage for $760,000.
It will be a 30 year, fully amortizing, FRM, with constant monthly payments and monthly compounding.
The annual interest rate is
Name:
_
Baruch College
Zicklin School of Business
RES3200
=
1. Dont open the exam until I tell you that you may do so.
You have the entire class to complete the exam.
2. You may use a financial calculator. No cell phones.
3. For the nonmultiple choice qu
ANSWER KEY
Due Date: February 14, 11:59 PM
CHAPTER 1  Real Estate Investment: Basic Legal Concepts
SHORT ANSWER
1. What is the difference between real property and personal property?
Real property refers to the ownership rights associated with realty. Re
Kevin Sanchez
Baruch College
Homework #4 RES 3200
1. The information provided here applies to questions 1, 2, 3, 4, 5 and 6. Two years ago, you
borrowed $485,000 using a 30year fixed payment mortgage offering a 5% interest rate. Current
mortgage rates ar
Kevin Sanchez
Real Estate 3100
March 5, 2017
H.W #1
Test Problems
1. How much will a $50 deposit made today be worth in 20 years if interest is compounded annually at a
rate of 10%?
Answer: d)
N=20 I=10% PV= 50
PMT=0
FV=336.37
4. What amount invested at t
Real Estate Law, Markets and Institutional Settings
RES 3000

Fall 2011
Real Estate Law, Ninth Edition
Unit 1 Text Answers
Study Questions
1. Answer varies depending upon the state in which the course is taught.
2. a. The doctrine of precedent is the reliance upon principles established in previous cases
to settle a present d
Real Estate Law, Markets and Institutional Settings
RES 3000

Fall 2011
Real Estate Law, Ninth Edition
Unit 1 Quiz
1.
In which of the following pairs are the terms most closely related?
a.
Statutory lawadministrative law.
b.
Precedentcase law.
c.
Constitutionpolice power.
d.
Original jurisdictionappellate court.
2.
Most state
Real Estate Law, Markets and Institutional Settings
RES 3000

Fall 2011
Real Estate Law, Ninth Edition
Unit Quiz Answer Key
Unit 1
1. b (5, 6)
2. c (6)
3. d (17)
4. b (5)
5. a (17)
6. a (11)
7. c (12)
8. b (12)
9. d (19)
10. a (7)
Unit 2
1. c (28)
2. a (28)
3. c (31)
4. d (36)
5. c (37)
6. c (37)
7. a (34)
8. b (30)
9. a (32)
Case Study: The Residential Manager  Notes
Harriet Montgomery is the property manager of a large apartment complex. One of the
tenants, Han, came to Montgomerys office with a complaint. Han told Montgomery that
his bathtub did not drain properly, but Han
Exam 2 Review
CHAPTER 5
Adjustable and Floating Rate Mortgage Loans
TRUE/FALSE
1. ARMs were developed because lenders were tired of offering a limited selection of loan
alternatives to borrowers. FALSE
2. ARMs help lenders combat unanticipated inflation
Mortgage Pass Through Security
Data Input Box:
Number of mortgages in initial pool
Average mortgage balance
Initial mortgage pool balance
Prepayment rate
Mortgage rate
Servicing and Guarantee Fee
Coupon rate
40
$25,000
$1,000,000
10.00%
10.00%
0.5%
9.50%
Percentage Grade points each). Choose the best available answer. Clearly circle
Multiple Choice Questions (5
your answer choice.
1) Which of the following is NOT a method of title assurance?
a) Seller provides a warranty with deed
b) Title search conducte
Zicklin School of Business
Baruch College
Homework #3
RES3200: ARMs and REFI
Due: 10142016 at 11:59 pm
Instructions:
1. Round all final dollar amounts to the nearest cent and dont enter the dollar sign.
E.g. if the answer is $1,022.912, enter it as 1,02
SECURITIZATION
The substitution of more efficient public capital markets for
less efficient, higher cost, financial intermediaries in the
funding of debt instruments. Kendall And Fishman
SECURITIZATION
reduction in the use of intermediaries between prod
Calculating Better Spreads
Spot Curve and Z
Spread
Spot Curve and Z Spread
Steps
Various calculations use zspreadsto calculate spreads as they are better indicators of return
than static spread over the term.
Working backwards to find a z spread, we need