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Real Estate
Q:
Competition for the currently available supply of locations and space coupled with the existing supply of leasable space, determines:
A. the current level of rental rates for each submarket and property
B. the riskiness of the expected cash flows of an income-producing property
C. the timing of the expected cash flows of an income-producing property
D. the cost of financing the purchase of a property
Q:
Primarily through land use controls and property tax policy, which of the following branches of government has the largest influence on real estate values?
A. Local government
B. State government
C. National government
D. Foreign government
Q:
An example of a real estate asset that trades in the public debt market is:
A. real property
B. real estate operating companies
C. equity REITs
D. commercial mortgage backed securities (CMBS)
Q:
Capital markets can be divided into four main categories: private equity, public equity, private debt, and public debt. An example of a real estate asset that trades in the private equity market is:
A. real property
B. home mortgages
C. equity REITs
D. mortgage backed securities
Q:
The expected stream of rental income is capitalized into value by converting expected future cash flows into present value through a process called:
A. amortization
B. discounting
C. compounding
D. accounting
Q:
The demand for real estate derives from the need that market participants (e.g., owner occupants, tenants, renters) have for shelter and convenient access to other locations. This competition for physical location and space occurs in the:
A. User Market
B. Capital Market
C. Government Sector
D. Property Market
Q:
Real estate values derive from the interaction of three different sectors in the economy. Which of the following sectors serves to allocate financial resources among households and firms requiring funds?
A. User market
B. Capital market
C. Government
D. Property market
Q:
As of 2015, the single largest asset category in the net worth portfolios of households is:
A. government and corporate bonds
B. stocks and mutual fund shares
C. consumer durable goods
D. housing
Q:
The size of a single family residential lot is typically:
A. less than one acre
B. between one and two acres
C. between two and three acres
D. greater than three acres
Q:
If we desire to classify land by its use, land that does not include any improvements to the land would be categorized as:
A. Raw land
B. Building site
C. Developed land
D. Property infrastructure
Q:
Which of the following would be considered a tangible asset?
A. Land
B. Lease agreement
C. Mortgage
D. Listed REIT
Q:
Real estate is property, which can be either a tangible or an intangible asset. Which of the following would be considered an intangible asset?
A. Land
B. Building
C. Mortgage
D. Fence
Q:
Real estate consists of the physical structures and infrastructure that accompany the land. All of the following are examples of an improvement to the land EXCEPT:
A. Walkways
B. Building
C. Sewer system
D. Streets
Q:
Real estate is defined as land and its permanent improvements. Which of the following is an example of an improvement to the land?
A. Fence
B. Building
C. Sewer system
D. Personal property
Q:
All of the following are examples of an improvement on the land EXCEPT:
A. Fences
B. Building
C. Walls
D. Streets
Q:
When viewed as a tangible asset, real estate can be defined as the land and its permanent improvements. Improvements on the land include:
A. fences
B. walkways
C. sewer systems
D. streets
Q:
A commercial real estate loan may take 90 days from the signing of the purchase and sale contract until loan closing. Therefore, there is the possibility for interest rates to fluctuate during this period. In some cases, the lender may offer the borrower the opportunity to lock in the interest rate on the loan. To protect against exposure to rate increases during this period, the borrower is often willing to pay a nonrefundable fee as part of what is more commonly known as a: A. Lockout provision B. Rate lock agreement C. Floating rate agreement D. Yield maintenance provision
Q:
The Landrum-Griffin Act prohibits:A.Secondary boycotts.B.Strikes.C.Lockouts.D.All of the above.
Q:
The Landrum-Griffin Act is also known as the _________
A.National Labor Relations Act.
B.Labor-Management Reporting and Disclosure Act.
C.Railway Labor Act.
D.Employment Bill of Entitlements Act.
Q:
Jurisdictional strikes:
A.Are a good tool to force negotiation.
B.Involve more than one employer.
C.Are an unfair labor practice.
D.Help unions gain bargaining position.
Q:
The real dispute in a jurisdictional strike is between:
A.The employee and the union.
B.Two employees.
C.The national and local chapters.
D.Two unions.
Q:
Assume that the faculty at your college or university is unionized. If they vote to strike, under the Taft-Hartley Act they will be subject to:
A.A 60 day cooling off period.
B.An 80 day cooling off period.
C.A 90 day cooling off period.
D.No cooling off period would apply.
Q:
A local union:
A.Must observe the international union's constitution and bylaws.
B.Can disregard national bylaws if the local membership has an election and votes to do so.
C.Is bound by international bylaws only if the unanimous approves.
D.None of the above.
Q:
Unions are required to:
A.Represent all employees in the bargaining unit without discrimination.
B.Represent only dues-paying members.
C.Enter bargaining negotiations only when a significant number of members are involved.
D.All of the above.
Q:
Laws that prohibit agreements requiring membership in a labor organization as a condition of continued employment is known as a ________ law.
A.Right to work.
B.Right to remain independent.
C.Right to employment.
D.Right to choice.
Q:
A place of employment that requires a person to be a union member before applying for a job is said to be a ________ shop.
A.Limited access.
B.Open.
C.Closed.
D.Mandatory membership.
Q:
The Taft-Hartley Act provides injunction power against:
A.All strikes and lockouts.
B.Strikes and lockouts that create a national emergency.
C.Interstate sale of goods strikes.
D.Interstate sale of locks.
Q:
The Federal Mediation and Conciliation Service was created to achieve the goals of the ________ Act.
A.Clayton
B.Sherman
C.Wagner
D.Taft-Hartley
Q:
The Taft-Hartley Act was designed to:
A.Strengthen labor union's bargaining power.
B.Limit management retaliation for unionization.
C.Help insure fairness in negotiations in the wake of the Wagner Act.
D.All of the above.
Q:
Collective bargaining subjects are first classified as mandatory or voluntary by:
A.Executive orders.
B.Legislative enactment.
C.NLRB decisions.
D.The Sherman Act.
Q:
Which of the following is not a provision of the Taft-Hartley Act?
A.Suits are permitted by union members for breach of contract against unions.
B.Closed shops were made illegal but union shops were permitted in states without right to work laws.
C.An 80 day cooling off period was established regarding strikes that could imperil the nation's health or safety.
D.Six unfair labor practices by employers were established and defined.
Q:
Under the Wagner Act, any organization of employees must:
A.Be completely independent of their employers.
B.Be approved by their employer.
C.Have an established meeting place at their place of employment.
D.Have equal access to company equipment and support staff.
Q:
Lois has applied for a job at Nadir Markets, a grocery store chain. She is told that after thirty days she is required to join the union representing the Nadir employees. Nadir is:
A.A closed shop.
B.A union shop.
C.A right to work shop.
D.Committing an unfair labor practice and violating the law.
Q:
Which of the following personnel would be subject to NLRB authority and jurisdiction?
A.Agricultural workers.
B.Persons covered under the Railway Labor Act.
C.A factory worker.
D.Government employees.
Q:
After a valid election to certify a union has been conducted by the NLRB, another election is:
A.Permitted within six months if the first election failed to unionize.
B.Permitted within six months regardless of the outcome of the first election.
C.Is not permitted for three years if the election successfully unionized.
D.Is not permitted for one year.
Q:
For the NLRB to conduct a union election, it must receive:
A.A request from 10% of eligible employees.
B.A petition from management.
C.A request from other chapters of the specific union.
D.A petition signed by at least 30% of employees.
Q:
Elections to certify unions are:
A.Public and open to any employee.
B.By secret ballot.
C.Supervised by state appointed labor representatives.
D.All of the above.
Q:
An agreement between an employer and a union in which the employer agrees not to force employees to handle goods or materials going to or from a second employer deemed by the union to be unfair is called a/an:
A.Unfair cargo contract.
B.Redundant cargo contract.
C.Secondary cargo contract.
D.Hot cargo contract.
Q:
Picketing to force an employer to recognize an uncertified union is an unfair labor practice when each of the following is proven except:
A.When the employer has lawfully recognized another union as the collective bargaining agent of its employees.
B.When a valid representation election has been conducted by the NLRB within the past 12 months.
C.When there has not been a valid representation election conducted by the NLRB within the past 12 months.
D.When picketing has been conducted for an unreasonable time, in excess of 30 days, without a petition for a representation election being filed with the NLRB.
Q:
The NLRB has limited its own jurisdiction because:
A.It has no specific jurisdiction.
B.Budget and time constraints demand limitations.
C.The federal government demanded it.
D.The President ordered it.
Q:
If interstate commerce is involved, the NLRB has _____ authority.
A.Absolute.
B.Extensive.
C.Very limited.
D.No.
Q:
The NLRB members are appointed by:
A.Congress.
B.The President.
C.The Senate.
D.The House of Representatives.
Q:
Congress explicitly affirmed labor's right to organize and to bargain collectively in the:
A.Wagner Act.
B.Taft-Hartley Act.
C.Norris-LaGuardia Act.
D.None of the above; Congress has never done this.
Q:
A hot cargo contract:
A.Refers to an employer requiring unionized employees to transport or handle stolen goods.
B.Is an unfair labor practice as defined in the Landrum-Griffith Act.
C.Is a synonymous term for secondary boycott.
D.Refers to a contract for work not being performed.
Q:
Agreements to not join unions as a condition of employment were known as _________ contracts.
A.Anti-fraternization.
B.Yellow-dog.
C.Anti-socialization.
D.Red-dog.
Q:
In Allentown Mack Sales and Service, Inc. v. National Labor Relations Board, the court stated that there were three options open to an employer when they believe, with "good faith reasonable doubt", that an incumbent labor union has lost the support of a majority of its employees. Which of the following is not one of the stated employer options?
A.Withdraw recognition from the union and refuse to bargain.
B.Conduct an internal poll of the employees support for the union.
C.Withdraw recognition from the union and name a second union as the proper employee's bargaining unit.
D.Request a formal, Board supervised election.
Q:
The NLRB does not have jurisdiction over:
A.Hotel and motel enterprises that serve transient guests and gross at least $250,000 in revenues per year.
B.Private universities and colleges.
C.All enterprises that have a substantial impact on national defense.
D.Transportation enterprises furnishing interstate commerce.
Q:
The National Mediation Board was created by the:
A.Railway Labor Act.
B.National Labor Relations Act.
C.Labor-Management Relations Act.
D.Labor Management Reporting and Disclosure Act.
Q:
The Wagner Act is also known as the:
A.Labor-Management Relations Act.
B.National Labor Relations Act.
C.Railway Labor Act.
D.LMRDA Act.
Q:
The goal of labor law is to facilitate:
A.More money for employees.
B.Shorter work weeks.
C.Successful collective bargaining.
D.Complete unionization.
Q:
Mike is an employee at a company that is unionized; however, it is located in a right to work state. Which of the following is an incorrect statement?
A.Mike is not required to join the union.
B.Mike is not required to pay representation fees to the union.
C.Mike is subject to the terms of the collective bargaining agreement.
D.The union is not required to represent Mike should Mike file a grievance against management unless Mike has paid representation fees or joined the union and paid dues.
Q:
The NLRB assumes jurisdiction over:
A.Retail enterprises with a gross volume of $100,000 or more a year.
B.Retail enterprises with a gross volume of $250,000 or more a year.
C.Retail enterprises with a gross volume of $500,000 or more a year.
D.The NLRB has jurisdiction over all U.S. retail enterprises regardless of size.
Q:
(p.635-636, 638-640)Which of the following actions by an employer does not violate the Wagner Act?
A.Threatening to fire any employees that vote to certify a union.
B.Providing refreshments to those attending a union meeting.
C.Refusing to allow an employee to have a union representative present when the employee is being questioned about a theft that occurred on the premises.
D.Each of the above violates the Wagner Act.
Q:
Yellow dog contracts were made illegal through enactment of the:
A.Clayton Act.
B.Norris LaGuardia Act.
C.Wagner Act.
D.Regulations promulgated by the NLRB.
Q:
The first federal statute of any importance to the labor movement was the ________ which was passed to strengthen the antitrust laws.
A.Clayton Act.
B.Railway Labor Act.
C.Norris LaGuardia Act.
D.Wagner Act.
Q:
The largest union in the U.S. is the:
A.AFL-CIO.
B.United Auto Workers.
C.Teamsters Union.
D.National Education Association.
Q:
Which of the following is not a part of the National Labor Relations Act?
A.The National Labor Relations Board was created.
B.Employers are prohibited from penalizing employees who engage in union activities.
C.Employees are required to bargain in good faith with unions.
D.Employers are required to bargain in good faith with unions.
Q:
Issues and questions regarding fringe benefits are considered compulsory bargaining issues.
Q:
Breach of contract suits under Taft-Hartley can be brought in federal court without regard to the usual jurisdiction amount requirement.
Q:
The Taft-Hartley injunction provision is applicable to all strikes.
Q:
All states have adopted "Right to Work" laws.
Q:
Forcing an employer to pay for work not being performed is called featherbedding.
Q:
A partial business closing to deter unionizing is an unfair labor practice.
Q:
The law does not require an employer to favor union members in hiring employees.
Q:
Under the Wagner Act, the employer must approve any organization of employees.
Q:
Requiring job applicants to state on a job questionnaire that they would or would not cross a picket line is illegal.
Q:
An employer is not required to recognize the union based on a majority card showing and always has the option to insist on an election.
Q:
Petitions are used to authorize the NLRB to conduct an election to certify a union or to rescind a union's authority.
Q:
Insisting on oral agreements when negotiating is not considered to be an unfair labor practice.
Q:
The NLRB consists of five members who are nominated by the Senate and are confirmed by the House of Representatives.
Q:
If an employer reports the existence of possible illegal aliens to the authorities when the report is near a time when the employees are approving a labor union as its bargaining agent such a report is considered an unfair labor practice.
Q:
Conferring additional benefits by an employer to employees considering union organization can be considered an unfair labor practice.
Q:
Workers in right to work states, who work at a unionized facility, are not required to join the union or pay union dues or fees and are not bound by the union contract.
Q:
Bargaining in good faith means bargaining until an agreement is reached.
Q:
Raising prices in cafeteria vending machines may be considered a compulsory bargaining issue.
Q:
The NLRB does not exercise jurisdiction over private universities and colleges.
Q:
An employer may legally permit a union to use their telephones and copy machines as long as they do not charge the union a fee.
Q:
How was the National Mediation Board established and what are its primary functions?
Q:
When a threatened or actual strike or lockout, affecting an entire industry, that imperils national health or safety occurs or is imminent, what procedures does the Taft-Hartley Act mandate?
Q:
What are the major provisions of the Taft-Hartley Act?