7. The most common type of lease for commercial real estate is: a. periodic tenancy (estate from period to period) b. tenancy (estate) at sufferance c. tenancy (estate) at will d. term tenancy (estate for years) 8. A special form of ownership based on the notion of air rights (owning a chunk of air space) is called: a community property b. condominium C. cooperative d. coordinate 9. Assume that compensation is paid to the owner of Property A for part of that property taken by eminent domain (for ex., for right of way for an interstate highway). Compensation may also be owed for damages to the part of Property A not taken if there are significant: a condemnation damages b. settlement damages C. severance damages d. taking damages 10. If you are an appraiser estimating the market value of a small office building in a small market such as Champaign (and you are assuming the most likely investor is non-institutional, for ex., a local individual) then the method of the income approach you are most likely to use is the a. direct capitalization method b. discounted cash flow method C. gross income multiplier method d. none of the above