1. Which of the following techniques used for valuing real estate is dependent on the accuracy of the net operating income (NOI) projected from the property and thecorresponding capitalization (cap) rate selected to determine its present value?

	a.	Cost approach.
	b.	Comparative sales approach.
	c.	Income capitalization approach.
	d.	NPV of sale proceeds approach

2. A factor that affects the demand for real estate is:

	a.	Existing inventory of similar properties
	b.	Availability of builders.
	c.	Demographic composition of the community.
	d.	Building Style