$1.$ Name and define three of the $5$ C$$s of Credit

$2.$ If a property has an as completed appraised value of $$25,000,000$

a$.$ What is the maximum LTV you would underwrite on a stabilized multifamily

property?

b$.$ What is the LTC on an office property if the cost to build is $$20,000,000?$

c$.$ What is the LTV a bank would provide if it was a land purchase?

$3.$ A property value is $$4,000,000,$ and it has a $$3,000,000$ loan on it$.$ The annual net

operating income is $$220,000.$ What is the capitalization rate?

a$.5\mathrm{.}00\%$

b$.5\mathrm{.}25\%$

c$.5\mathrm{.}50\%$

d$.5\mathrm{.}75\%$

$4.$ Name $3$ credit considerations and briefly define them

$5.$ Escrows are generally held for $\_\_\_\_\_$ and $\_\_\_\_\_\_\_$

$6.$ Name three things for which an underwriter might require holdbacks

$7.$ Title Insurance assures a clean lien position at the time of the closing. True or False?

$8.$ Name three reasons to do a loan review

$9.$ What is the primary reason a bank has trouble financing non$-$traditional properties?

$10.$ Which item is $$not$$ found in a lease?

a$.$ insurance requirements

b$.$ use of property

c$.$ street address

d$.$ A &B

e$.$ None of the above

$11.$ What is the main difference between a credit and non$-$credit tenant?

$12.$ Name and define three workout solutions

$13.$ Name $3$ types of liquid assets in a Personal Financial Statement

$14.$ List $3$ criteria that are important to underwriters in evaluating a borrower$$s credit

report

$15.$ Name three types of third$-$party reports and why they are essential to underwriting?

$16.$ A FICO score of at least $650$ is usually the minimum underwriting requirement for

a borrower. True or False?

$17.$ What does KYC stand for and what is it$?$

$18.$ What does OFAC stand for and what is it meant to do$?$

$19.$ An OFAC $$hit$$ means you cannot legally lend to the Borrower. True or False?

$20.$ Why are title updates needed to make a construction loan advance?

$21.$ In order of due diligence required, from the least to most stringent, name the three

types of accountant prepared reports

$22.$ Why do lenders$/$underwriters like multifamily properties? Name three attractive

characteristics

$23.$ Which of the following in not considered an operating expense:

a$.$ Water and Sewer

b$.$ Real Estate Taxes

c$.$ Mortgage Payment

d$.$ Insurance

$24.$ In a construction budget, interest reserve is counted as a soft cost. True or False?

$25.$ When underwriting a construction loan, name three major risks that must be

mitigated

$26.$ Which item is considered a type of credit risk?

a$.$ Probability

b$.$ Exposure

c$.$ Loss

d$.$ Reputation

e$.$ All of the Above

$27.$ Name $3$ terms that must appear in the note that evidences the debt?

$28.$ Under NY State lien law, a Building Loan Agreement prohibits the transfer of hard

cost items to soft costs. True or False?

$29.$ In general, multifamily operating expenses should be no more than $\_\_\_\_\%$ of

revenue

$30.$ What two types of warehouse and industrial properties are experiencing the

greatest growth in today$$s market? $($

$31.$ Name $3$ types of specialty real estate properties that are particularly difficult to

underwrite and what do they have in common

$32.$ Soft costs include all of the following EXCEPT:

a$.$ Permitting costs

b$.$ Architectural and engineering fees

c$.$ Construction interest

d$.$ Environmental and ecological evaluation

e$.$ Sewar Systems

$33.$ Name $3$ types of retail centers, from smallest to largest

$34.$ Name $3$ underwriting considerations for retail centers

$35.$ What is CAM and what might it include?

$36.$ Name three problems that face underwriters when looking at a hotel deal

$37.$ Foreclosure is the first action a lender should look to when presented with a loan in

default. True or False?

$38.$ How will the philosophy, structure, policy and thought process of credit

underwriting be affected by the economic climate in $2023?$