7. A tax characteristic that is a non-cash transfer of money can be called:

a. Cash Sale b. Cost Recovery c. Wire Transfer d. Cash Flow

8. An example of a tangible Investor property is:

a. A site purchased for future appreciation b. Stock Portfolio c. Personal Home d. Motorcycle

9. ________________ is determined by current tax laws used to calculate the tax liability or tax savings annually.

a. Cash Flow b. Taxable income c. Municipal income d. Net Operating Income

10. The holding period is:

a. always five years. b. determined by an individual investor. c. based on the basis. d. is enhanced by the assessors value of the property.

11. The tax assessors office has a tax card for all property in the county. The value will be allocated to:

a. land and improvements b. land and personal property c. buildings and animals d. wetlands and usable real estate

12. Dr. Brice purchased a property for $200,000. The assessed value is $250,000, of which $50,000 is for land and $200,000 is for improvements. The allocation of the basis for this property is:

a. Land = $50,000; Improvements = $150,000 b. Land = $63,000; Improvements = $137,000 c. Land = $100,000; Improvements = $100,000 d. Land = $40,000; Improvements = $160,000