1.What term is used for a transaction in which all parties to the transaction are dealing from equal bargaining positions?

Select one:

a. Hypothecation

b. Balance

c. Arm's-length

d. Open market

2.A highest and best use study will always value

Select one:

a. improvements alone.

b. present improvements, with no feasible change.

c. the property's most profitable permitted use.

d. land without improvements.

3.Market value is most closely associated with

Select one:

a. assessed value.

b. value in use.

c. investment value.

d. value in exchange.

4.In which cases, the landlord pays the operating expense up to certain amount, the tenant pays the rest

Select one:

a. Gross Lease

b. Lease with expense stop

c. Triple net lease

d. Net Lease

5.Land value of an improved property can be found using the

Select one:

a. subdivision development method.

b. allocation method.

c. land development method.

d. sales comparison method.