Question 50 (1 point)

Mini-perm loans usually refer to financing:

Question 50 options:

a)	None of the below

b)	For the lease-up period

c)	For construction and all subsequent periods

d)	For construction, lease-up, and one or two subsequent years

Question 51 (1 point)

The MOST common method of distributing funds provided by a construction loan is a:

Question 51 options:

a)	Single lump sum of money at the closing of the loan

b)	Single lump sum of money at the end of the construction project to reimburse the developer/contractor for the project's expenses and profit

c)	Series of payments throughout the construction project to reimburse the developer/contractor for costs incurred since the previous payment

d)	Series of payments throughout the construction project to reimburse the developer/contractor for anticipated expenses in the upcoming period

Question 52 (1 point)

A contract that is used to reserve a parcel of land so that it will not be sold to someone else, while the developer does preliminary analysis of the site is known as an __________.

Question 52 options:

a)	Land disposition

b)	Purchase and Sale

c)

Option

d)	None of the above

Question 53 (1 point)

The amount to be paid to the lender from each lot sale is included in the:

Question 53 options:

a)	release schedule

b)	development agreement

c)	cost breakdown

d)	subcontracts

Question 54 (1 point)

Which of the following is FALSE regarding the release price?

Question 54 options:

a)	It is usually calculated to pay off the loan when the last lot is sold

b)	It is usually calculated to pay off the loan before the last lot is sold

c)	Increasing the release price usually lowers the lenders risk

d)	Increasing the release price is likely to lower the investors initial cash flow

Question 55 (1 point)

Which of the following is not a pass through entity for tax purposes?

Question 55 options:

a)	C Corporation

b)	S Corporation

c)	LLC Company

d)	None of the above

Question 56 (1 point)

Saved

A general partner is personally liable for the debts of the partnership whereas a limited partner has limited liability like shareholders in a corporation.

Question 56 options:

	a) True
	b) False