1.) The amount of income left to an investment property after operating expenses have been paid but before the mortgage debt is addressed is known as

a) pre-debt service income

b) effective gross income

c) scheduled gross income

d) net operating income

2.) What calculation is used to determined the capital gain or loss on an investment property

a) depreciated value plus improvements minus realized selling price

b) adjusted basis minus the realized selling price

c) original purchase price minus the depreciated value

d) realized selling price minus the adjusted basis

3,) Prior to attempting a market analysis, which of the following items must be determined

a) investment property tax basis

b) Market area boundaries

c) total cost of construction

d) required return on the investment