Chapter 1

1. A fruitful conceptualization of real estate is as artificially delineated space over time.

True / False

2. Real estate investments are legally recognized rights associated with the ownership of real estate.

True / False

3. Real estate markets are efficient.

True / False

4. Real estate markets tend to have homogeneous property types.

True / False

5. A localized market is a real estate market that tends to be geographically unique, which contributes to its inefficiency.

True / False

6. What is one of the real estate activities?

a) developer

b) lender

c) taker

d) both a) and b)

7. A specialist within a lending institution who finds real estate borrowers and facilitates their borrowing funds thereby creating mortgage assets

a) Servicer

b) Orginator

c) Mortgage broker

d) Mortgage banker

e) Securitizer

8. A leasing agent is someone who…

a) specializes in facilitating property leases rather than property sales for principals.

b) who investigates, reports on, and sometimes forecasts the conditions of real estate markets.

c) is often working for government, who is engaged in the process of planning for the appropriate use of land.

d) is working for a government tax authority, who estimates the value of property for tax purposes.

Answer:

True, False, False, False, True, d), b), a)