Tuesday, October 8, 2013
Chapter 8: Entrepreneurial Activities
By Jordan Naffa
True & False Questions:
1.) Precommitment are the stages of the development process which occur before the developer has committed significant resources to the project.
2.)Postcommitment are the stages of the development process which occur during the developer has committed significant resources to the project
3.) The general contractor is a construction expert who contract with the developer.
4.) Building codes are ordinances not enforceable by police power.
5.) A bridge loan is a short-term loan.
Question & Answer:
6.) A performance bond is an assurance made by
a. A third party
b. The contractor
c. The architect
d. The engineer
7.) A permanent loan is usually
a. Long term
b. Short term
c. About 1 year
d. Over 90 days
8.) A ‘CO’ is simply referred to as an
a. Contractual obligation
b. Certificate of operation
c. Certificate of occupancy
d. None of the above
1.) T, 2.) F, 3.) T, 4.) F, 5.) T, 6.) A, 7.) A, 8.) C