Question 1 3 pts Which is a benet of buying a property that is on the market? 0 There is less competition 0 The seller has a commitment to sell 0 The books and records are audited by a CPA O The marking package is 100% accurate Question 10 3 pts How many days after close of escrow do you have to identify your upleg property in a 1031 exchange? 0 As many as needed 0 45 Days 0 6 months 0 30 days Question 11 3 pts Typically, a commercial loan requires a minimum down payment of what % depending on the DCR? O 3% O 30% Q 10% Q 50% 0 Only Cash Offers Question 14 3 pts A property isn't acquired by a buyer until 0 It appraises at value 0 The purchase price is agreed upon 0 The title is recorded in the buyer's name or entity name 0 The lender sends funds to escrow Question 15 3 pts Which are types of Risk associated with Real Estate Investing? 0 Legislative Risk 0 Management Risk 0 Environmental Risk 0 Interest Rate Risk 0 All the Above Question 16 3 pts Which expenses are not typically covered by an apartment tenant? 0 Water and trash 0 Cable 0 Internet 0 Electric Q None Question 17 3 pts Which are parts of the due diligence material? 0 Property Rent Roll 0 Tenant Estoppels 0 Preliminary title Report 0 Inspection Report 0 All the Above Question 18 3 pts Which type of property is not considered essential real estate? 0 Ofce Properties 0 Drug Stores 0 Grocery Stores 0 Hospitals Question 20 3 pts What is the primary appraisal metric used for commercial real estate? 0 Price per foot 0 Cap Rate 0 Amenities 0 Bedroom Count Question 21 3 pts Which are metrics used to value a property? 0 Price Per Unit C) Price Per foot 0 Cap Rate 0 Gross Income Multiplier 0 All the Above Question 22 3 pts It is highly suggested that every property should be owned by what type of entity? 0 Sole Proprietorship O Limited Liability Company C) S Corporation 0 Married Couple Question 23 3 pts What is the largest asset class in the world? 0 Amazon 0 Equities O Bonds O Real Estate Question 24 3 pts What are your options if your property is worth more than it was 10 years ago? 0 Sell it for a prot C) Renance it to pull out equity 0 Keep it as is O 1031 exchange into another property or up to 3 properties 0 All the above \fQuestion 26 3 pts Which could be potential careers in real estate? 0 Real Estate Agent 0 Lender 0 Property Management 0 Acquisitions 0 Analyst 0 All of the above Question 27 Typically, how does the pricing of a duplex compare to a 10 unit property right next door? 0 The Duplex and 10 unit have same exact cap rate Q The Duplex costs less per unit than the 10 unit 0 The Duplex is most likely more expensive per unit than the 10 unit 0 The 10 unit property is more expensive on a per foot basis 0 I don't know without the nancial data 3 pts D Question 28 3 pts What is the first process in acquiring a real estate property? O Submit an LOI O Prepare capital by getting prequalified with a lender O Look on the Zillow app O Open Escrow O None of the AboveD Question 29 3 pts Which are evidence of demand in a market? O Vacancy Rates O Sales Trends O Price Increases Competitive Bidding O All the AboveQuestion 3 3 pts Who can get out of a contract if the property appraises for less than accepted contract price? 0 The Seller 0 The buyer 0 The escrow ofcer 0 The Management Company Question 30 3 pts What are the typical contingencies in a purchase contract? 0 Inspection (books and records and Physical) O Appraisal Contingency 0 Loan Contingency 0 Utility Contingency 0 All the Above 0 A,B.andC Question 5 3 pts Which expenses are responsible by the owner for a NNN Property? 0 Maintenance 0 Taxes 0 Utilities C) All the Above 0 None of the Above Question 6 3 pts Which are benets of investing in publicly traded RElTS O The shares are more liquid than holding traditional real estate 0 You can do a 1031 exchange into a REIT Q You can diversify easier among different property types Q It has a lower barrier to invest C) All except B 0 All the Above Question 7 3 pts One Benet of investing in commercial Real Estate is... Q It has a lower down payment than residential real estate 0 It typically offers nancing that is xed and amortized for 30 years 0 You can increase value be increasing income and decreasing expenses 0 Every bank offers commercial nancing products Question 8 3 pts Which are types of Real Estate? {Multiple Answers Question} E] Land C] Multifamily E] Retail C] REIT Shares C] Industrial Question 9 3 pts What are the benets of doing a 1031 deferred exchange? 0 Defer taxes 0 Diversify portfolio 0 Increase cash ow 0 Estate Planning 0 All the Above