1. Which are the two fundamental markets in commercial real estate? (a) The space market and the asset market. (b) The space market and the money market. (c) The construction market and the land market. (d) The asset market and the stock market. 2. The term real property refers to: (a) Financial capital as opposed to physical capital. (b) Long-lived personal property, such as automobiles, musical instruments, works of art. (c) Land or built space. (d) Property valued net of inflation. 3. If the cap rates prevailing in a given market are 10.5%, then how much would you expect a property to sell for in that market if its annual net income were $50,000? (a) $5,250. (b) $50,000. (c) $476,190. (d) $525,000. 4. All of the following are components of the operating expenses of a property except: (a) Property taxes (b) Management expenses (c) Electricity bill (d) Income taxes (e) Hazard insurance expense 5. Other things being equal, which would have the lowest cap rate? (a) A building with short-term leases in a declining market. (b) A building with long-term leases in a declining market. (c) A building with short-term leases in a stable market. (d) A building with long-term leases in a growing market. 6. The Real Estate Market is segmented. Agree/Disagree? Explain your answer.

Can you answer questions 1 through 6 please.