- Which of the following is not considered a real estate professional?
- Property manager
- Acquisition expert
- Leasing agent
- Which is a corporate form of real estate ownership?
- Acquisition Trust
- How do private Appraisers make money?
- From the government
- Commission from sale
- Charge a fee
- Steal it from the homeowner
- Real Estate is an inefficient market?
- A wood table drilled to the ground on a property is considered real property?
- A mortgage actually consists of two different assets?
- Bank of America is a commercial bank, specializing in meeting the needs of businesses?
- Real estate is a Homogeneous Product?
- Real estate falls under which category of science?
- Plant science
- Construction science
- Social Science
- Land Science
- Which term is used to describe academic research designed to develop technologies to improve on what actually is?
- Applied Science
- A________ is an effective cognitive shortcut of judgment and decisions usually subconscious, employed due to limitations with human processing and short-term memory?
- Bounded Rationality
1. Theory and hypothesis are terms only used in natural science?
2. To become a real estate developer you have to get your college degree in business?
3. Data development method is a useful tool to determine if what land should be used for?
4. Real estate is an applied science?
5. One can learn about real estate from a private institution?
- Who came up with the two state theory of human information processing?
- Von Thunen
- _______ is an expression used to explain the decision making step, usually the final step before the decision is made.
- Righteous feeling
- Defined feeling
- Gut feeling
- Task feeling
- In the United States we have a _______ appraisal process.
1. An ill-defined problem is a problem that has a definite answer.
2. The task environment is a complex external environment in which decision makers operate.
3. A bias is an uncommon, systematic error in human information problem solving.
4. Surgeons tend to have a Heuristic approach to problem solving.
5. Human judgment is an important factor in real-estate decision making.
- Which term describes the important location characteristics of a site?
- Land Richness
- Land value gradiant
- _______ cost is the options forgone when you pursue a certain option.
- As you live further and further away from amenities, land rent or land value ______.
- Stays the same
- Increases, then decreases
- The phrase highest and best use of land was coined by Herbert Simon.
- Urban economics is the study of rural areas.
3 Climate is a big factor when families are deciding where to buy a house.
- A competitive advantage is something all businesses strive for.
- High density residential is always furthest away from the CBD.