Chapter 8 By Albert Chang

1.) Precommitment is the development process that occur before the developer has committed resources to the project? (T/F)
2.) General contractor is the person who contracts with  a developer to construct or manage? (T/F)
3.) Competitive market is concerned with estimating the supply of and demand for real estate product? (T/F)
4.) Permitting is the process of obtaining government permits to begin a project. (T/F)
5.) Certificate of occupancy is the process to obtain permission from the government to start a project? (T/F)

6.) A short-term loan issued to a developer to fun the construction stage of a project.
a) Takeout loan
b) Construction Loan
c) Approval Loan
d) None of the above

7.) An analysis which aims to estimate how much the total demand in a competitive market.
a) Market Analysis
b) Marketability study
c) Marketing
d) None of the Above

8.) Bridge loan is also know as?
a) Long term loan
b) Gap Loan
c) Permanent Loan
d) All of the Above

Answer Keys: 1)T 2)T 3)F 4)T 5)F 6)B 7)B 8)B