Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Real Estate
Q:
A new residential development will face competition from other new developments, other builders, and sales of existing homes. To determine if demand in that market segment will be sufficient to justify proceeding with the project, a developer would be most interested in estimating a:
A. capture rate
B. capitalization rate
C. risk-free rate
D. risk premium
Q:
________ followers believe that judicial review by judges should not be used except in unusual cases.
A.Judicial restraint.
B.Judicial activism.
C.Judicial realism.
D.Judicial conservatism.
Q:
In collecting data for nonresidential property analysis, it is helpful to understand the business community that currently exists in the specific area in question. A preliminary approach for ascertaining the number of firms by size, industry, and location is to obtain data from:
A. the Bureau of Labor Statistics
B. the National Transportation Service
C. the U.S. Bureau of the Census: County Business Patterns
D. the Federal Reserve
Q:
The current Chief Justice of the Supreme Court is:
A.Justice Antonin Scalia.
B.Justice David Souter.
C.Justice Samuel Alito.
D.Justice John Roberts.
Q:
Since most data for a given market study is not readily available, analysts must be creative in their use of data that they are able to obtain. The primary source for detailed household demographic information is:A. the U.S. Bureau of the CensusB. the Federal ReserveC. the local tax collector's officeD. Not available publicly
Q:
A federal court cannot normally hear:
A.Suits when the U.S. is a party.
B.Questions of state law.
C.Controversies between the states.
D.Controversies between citizens of different states.
Q:
In the Palm Grove Office Complex example, the project was destined to be an ill-fated venture from its inception for all of the following reasons EXCEPT:
A. The zoning laws of University City ultimately prevented the project's developers from starting the construction process
B. University City was not well-suited for large office space geared toward firms with greater than 25 employees
C. Palm Grove Office Complex lacked the visual exposure, convenient access, and parking that its competitors held significant comparative advantages in.
D. The structures were primarily designed as general-purpose office space, which excluded potential occupants such as laboratories or medical offices.
Q:
Skadden, a law firm headquartered in New York City, in 2007 had the highest law firm gross revenue earning:
A.Approximately $500 million.
B.Approximately $750 million.
C.Approximately $1 billion.
D.Approximately $2 billion.
Q:
In the Elysian Forest example, the planned unit development was destined to be an unsuccessful venture from its inception because:
A. There was a comparable project in the community that was successful.
B. The site and location of the project was atypical of the area as there were significant disadvantages in terms of location and visual appeal.
C. The target market was a nontraditional segment that relied heavily on a small portion of the local University City population.
D. University City was a big, high density city that could not support such development.
Q:
Which of the following is false concerning the typical small claims court?
A.Lower court costs.
B.Simplified court procedures.
C.Lawyers are never allowed.
D.There is a dollar limitation for the lawsuits.
Q:
A planned unit development (PUD) is a residential development that differs from traditional residential subdivisions in all of the following ways EXCEPT:
A. It encompasses a blend of detached single family, attached single family, townhouses and apartments.
B. It typically has larger individual lots with extensive side-yards on the property.
C. It typically includes a variety of common areas
D. It typically includes a variety of recreational facilities.
Q:
A request for a second review is, in some states, called a writ of:
A.Certiorari.
B.Reassessment.
C.Reevaluation.
D.Petition.
Q:
In contrast to conventional market analysis, the "story" approach to market research starts with an analysis of:
A. conditions in global real estate markets
B. conditions in national real estate markets
C. conditions in state real estate markets
D. conditions in the property specific market
Q:
Those who believe that judicial power should be exercised whenever the needs of society justify such use believe in:
A.Judicial functionality.
B.Judicial activism.
C.Judicial extension.
D.Judicial abstention.
Q:
In the initial round of market analysis, analysts will attempt to provide key numbers that characterize the current condition and trend in the market. For rental retail space, the key market parameters in question would most likely include all of the following EXCEPT:
A. Projected occupancy growth
B. Projected rental rate growth
C. Current vacancy levels
D. Projected sales rates
Q:
Supreme Court Justices are:
A.Appointed and approved by the president.
B.Appointed by the president subject to the advice and consent of the U.S. Senate.
C.Appointed by the president subject to the advice and consent of the U.S. House of Representatives.
D.Appointed by the president subject to the advice and consent of the joint House and Senate.
Q:
In constructing a market-defining "story," it is helpful to answer a series of fundamental questions around which analysis can be built. Which of the following questions is designed to identify the target market?
A. What is the real estate product under consideration?
B. Who are the customers?
C. What aspects of the product do the customers care about?
D. Who are the competitors?
Q:
In civil cases, the right to trial by a jury is preserved in suits at common law when the amount in controversy exceeds:
A.$20.00.
B.$25.00.
C.$50.00.
D.There is no minimum amount.
Q:
Professor James Graaskamp often asserted that when one buys real estate, what one is buying is a set of assumptions about the future. Therefore, it is not surprising that the
beginning point of the market research process is to:
A. collect relevant data to examine the market and test initial definitions
B. evaluate the results of market analysis
C. construct a market-defining "story"
D. refine market definitions and collect additional data
Q:
Which of the following is not a typical judicial restraint decision:
A.Statutes outlawing abortion are unconstitutional.
B.A male only draft is not a violation of equal protection of the law.
C.States can tax foreign income of multinational corporations.
D.Prayer in the legislature does not violate the 1st amendment.
Q:
Preferences of households can vary with time, prosperity, and context. The nuances in the preferences or needs of market subgroups are commonly referred to as:
A. market segmentation
B. market parameters
C. market projection
D. market cycles
Q:
Strict constructivism is also known as:
A.Judicial restraint.
B.Judicial activism.
C.Judicial review.
D.Judicial abstention.
Q:
A popular adage in real estate is that property value is all about "location, location, location." However, for most property types in nonresidential realms, nonlocational requirements are equally or even more important. All of the following are examples of nonlocational factors EXCEPT:
A. Floor plate size
B. Amount of parking
C. Nature of current tenants
D. Proximity to modes of public transportation
Q:
Real estate market research is an important process used by analysts to facilitate a better understanding of a property's future profit potential. All of the following statements regarding market research are true EXCEPT:
A. Real estate market research should always be flexible since the research depends directly on the problem at hand.
B. Market research consists of a series of facts that fails to consider the role of investor behavior in the decision-making process.
C. Most important data for a given market study often is not publicly available.
D. Market research should focus specifically on market segments for the property involved, rather than on the aggregate real estate market.
Q:
Which of these is not a federal court?
A.District court.
B.Justice court.
C.Court of Appeals.
D.Supreme court.
Q:
A new faculty member at the local university pays $1500 per month to rent an apartment in the downtown area. She teaches on campus 3 days a week and works from home the remaining 2 days. On the days in which she must commute, given the heavy traffic congestion, it takes her 2 hours to commute from downtown to campus. According to the assumptions of the bid-rent model, what should this professor be willing to pay in rent per month to live near campus if her hourly wage rate is $25? (In your calculations, assume there are 4 weeks in a given month)
A. $1200
B. $1500
C. $2100
D. $2700
Q:
Judicial review is:
A.The right of a court to review statutes and declare them unconstitutional.
B.The right of a legislature to pass statutes that overrule court decisions.
C.The right of an appellate court to overrule a lower court decision.
D.The right of the executive branch to enforce or not enforce judicial decisions.
Q:
Using the following information, determine the location quotient for Motor City. Employment in Motor Vehicle Manufacturing within Motor City: 12,643; Total Employment in Motor City: 560,379; Employment in Motor Vehicle Manufacturing (nationally): 152,750; Total Employment (nationally): 106,201,232
A. 0.1
B. 12.1
C. 15.7
D. 44.3
Q:
Mike has been charged with a crime and many facts are in dispute. For the jury's verdict to find him guilty:
A.The jurors must agree on all the decision and they must agree on their interpretation of the facts.
B.The jurors must agree on all the decision and they must agree on their interpretation of the majority of the facts.
C.The jurors must agree on all the decision and they must agree on their interpretation of at least some of the facts.
D.The jurors must agree on all the decision and there is no requirement that they agree on their interpretation of any of the facts.
Q:
An individual works downtown and pays $600 per month in rent for an apartment located 10 miles from her office. She has calculated that she spends 30 minutes per day driving each way to the office and it costs her $4 per day in gas and lost productivity. Using the framework of the bid-rent model, how much would she be willing to pay for an apartment downtown, assuming a 20 workday month?
A. $80
B. $440
C. $520
D. $680
Q:
A lawyer's first duty is to:
A.His or her client.
B.Make money.
C.The administration of justice.
D.Conduct herself or himself in a dignified manner.
Q:
Using the following information, determine the location quotient for this industry. Percentage of employment in financial services industry within the local community: 15%, Percentage of employment in financial services industry for the entire U.S.: 4.4%.
A. 0.3
B. 3.4
C. 10.6
D. 19.4
Q:
In Boumediene v. Bush, the Supreme Court decided that:
A.The right to habeas corpus applies only to U.S. Citizens.
B.During times of war, Congress may enact statutes to totally negate the rights of enemy combatants such as the detainees in question here.
C.Habeas corpus rights cannot be suspended until or unless a person has been proven, in court, to be an enemy combatant.
D.The writ of habeas corpus cannot be suspended because the government did not establish that the detainees access to statutory review provisions were an adequate substitute procedure for the writ.
Q:
Based on your understanding of the effect of agglomeration economies in real estate, you would expect institutional investors to most favor real estate investments in which of the following areas?
A. small urban markets
B. large urban markets
C. small rural markets
D. large rural markets
Q:
Article III of the Constitution:
A.Establishes the Supreme Court, the Court of Appeals and the District Courts.
B.Establishes the Supreme Court, the federal court system and gives guidelines for the establishment of state systems.
C.Establishes the Supreme Court and lower courts as Congress may create.
D.Establishes the Supreme Court and lower courts as the Senate may create.
Q:
An important effect of agglomeration economies on real estate is its impact upon market risk. Based on your understanding of this relation, which of the following statements is TRUE?
A. Properties located in a city with more advanced development of agglomeration economies will carry more risk and therefore suffer a larger price decline during an economic downturn than comparable properties in a city with less agglomeration.
B. Properties located in a city with more advanced development of agglomeration economies will carry less risk and therefore suffer a larger price decline during an economic downturn than comparable properties in a city with less agglomeration.
C. Properties located in a city with more advanced development of agglomeration economies will carry more risk and therefore suffer a smaller price decline during an economic downturn than comparable properties in a city with less agglomeration.
D. Properties located in a city with more advanced development of agglomeration economies will carry less risk and therefore suffer a smaller price decline during an economic downturn.
Q:
Which Amendments guarantee the right to a jury trial?
I. Sixth.
II. Seventh.
III. Eighth.
A.I and III.
B.I and II.
C.II and III.
D.I, II, and III.
Q:
Understanding the revenue generating ability of the core export activities of a local area has important implications on the market value of real estate. When the income that these activities generate is re-spent within the community on other local goods and services, the community is benefiting through a:
A. dividend process
B. multiplier process
C. forced saving process
D. diversification process
Q:
Issues of fact are determined in the:
A.Supreme Court.
B.Court of Appeals.
C.Trial court.
D.Voir dire process.
Q:
Six suburban office buildings have been constructed along six consecutive blocks in Roseland, New Jersey. This is an example of:
A. central place pattern
B. clustering
C. concentric circle
D. multi-nuclei
Q:
Judges:
A.Determine the facts from the evidence in a jury trial.
B.Present the evidence to the jury.
C.Give juries no deference.
D.Apply the law to the facts.
Q:
A fishing company was formed in Juneau, Alaska. Over the next decade, a canning plant, a processing plant, and a boat repair facility also opened in Juneau. This is an example of:
A. industry economies of scale
B. agglomeration economies
C. location quotient
D. linkages
Q:
Many states have rules allowing for juries of less than twelve in civil cases but all states continue to require juries of twelve in criminal matters
Q:
Most research oriented universities have many different colleges, each with separate administrations, students, curricula, and facilities. However, the university continues to exist as a total unit because of:
A. industry economies of scale
B. locational monopoly
C. economic inefficiencies
D. negative externalities
Q:
Declaring that seniority has preference over Affirmative Action layoffs is an example of a typical judicial restraint decision.
Q:
Providers of convenience activities find it profit-maximizing to disperse over the region of potential customers to the point where each establishment is equidistant from another and is separated by the minimum distance that allows sufficient customers to support each establishment. The resulting pattern of establishment locations is referred to as:
A. central place pattern
B. clustering
C. concentric circle
D. multi-nuclei
Q:
A writ of certiorari is a request to expedite an appeal that is normally granted.
Q:
The location of competitors within a particular land use area may be influenced by whether the types of services and products are convenience activities or comparison activities. Which of the following is an example of a comparison activity?
A. Supermarket
B. Coffee boutique
C. Fast-food restaurant
D. Apparel store
Q:
The various federal circuit courts tend to be consistent in the application of law and the theories of law followed.
Q:
Which of the following models of urban form is characterized by radial corridors or wedges representing the pattern of residential land use in relation to the location of the central business district (CBD)?
A. Bid-rent model
B. Concentric circle model
C. Sector model
D. Multi-nuclei model
Q:
Studies have shown that the results arrived at by juries of 6 and juries of 12 show quite discernable differences.
Q:
An early model of land use is the concentric ring model of urban form developed by E.W. Burgess. Of the following land uses, which would be closest to the downtown area of the central business district (CBD) according to Burgess' model?
A. Blue-collar residential land use
B. A zone of transition containing warehousing and other industrial land uses exists between the downtown area and the residential area.
C. White-collar clerical residential land use
D. Executive residential land use
Q:
Within the framework of the bid-rent model, as rents increase with proximity to the central business district (CBD), the tendency is for development to:
A. spread to the outskirts of the city
B. build upward on lots within the CBD to allow multiple tenants
C. cease completely
D. focus on low-income housing projects.
Q:
Diversity of citizenship occurs when the controversy is valued at $75,000 or more or the litigants are citizens of different states.
Q:
According to the bid-rent model, which of the following individuals would be the one most likely to live closest to the central business district (CBD)? (Hint: Assume that work locations are located adjacent to each other at the center of the CBD)
A. A barista at the local coffee shop who uses a car to commute.
B. A doctor at the city hospital who uses a car to commute.
C. A barista at the local coffee shop who must walk to work.
D. A doctor at the city hospital who must walk to work.
Q:
All tax paying American citizens automatically have the right to begin any lawsuit, except for small claims actions, in federal court.
Q:
According to the bid-rent model, which of the following changes in the model's underlying assumptions would most likely result in a decrease in rents for properties closest to the central business district (CBD)?
A. An increase in an individual's hourly wage
B. An increase in the average traveling speed of the individual's commute
C. An increase in the number of households attempting to live in the area
D. An increase in the number of days an individual must commute to work
Q:
Congress has created a separate U.S. Court of Appeals for each state.
Q:
The growth of the motion picture industry in Los Angeles, the petrochemical industry in Houston, the software industry in "Silicon Valley," are all examples of how the growth of an industry within a city can create cost advantages for future growth. Economists refer to this phenomenon as:
A. industry economies of scale
B. agglomeration economies
C. locational monopoly
D. economic inefficiencies
Q:
The only "moderate" Justice on the current Supreme Court is Justice Stephen Breyer.
Q:
A lawyer's first duty is to the lawyer's client.
Q:
Cities such as New York are able to host a variety of complex industries because of the development of specialized resources that support their growth. When specialized resources emerge in response to demand from multiple industries, this is referred to as:
A. industry economies of scale
B. agglomeration economies
C. locational monopoly
D. economic inefficiencies
Q:
The U.S. court system is an adversarial system.
Q:
Because a city's output capacities change slowly over time, it is important to understand the supply side (long-run) factors affecting urban growth. Which of the following would NOT be considered a supply-side factor that impacts a city's economic growth?
A. Nature of the available labor force
B. Quality of life within a community
C. Cooperation of local leadership and government
D. City's export activity
Q:
Judges who identify with judicial restraint give great deference to the political process.
Q:
In contrast to base activities, local economic activities (or secondary activities) serve the local business and households that are recirculating the income derived through the city's economic base. In other words, we can distinguish local economic activities from export activities by thinking about whether or not the activity brings money into the city from outside sources. Which of the following activities is NOT an example of land use for local economic activity?
A. Retail centers
B. Restaurants
C. Automotive services
D. Manufacturing Center
Q:
The magnitude of an economic base multiplier depends upon the amount of money that "leaks" out through expenditures outside of the city limits. The economic multiplier tends to be higher with each of the following EXCEPT:
A. A higher percentage of local household income is respent within the city.
B. The larger the city is.
C. The less isolated the city is from other cities.
D. The more tourism a city brings in.
Q:
Judicial restraint jurists have a deep commitment to precedent.
Q:
Legal commentators argue that unanimous jury verdicts are required to preserve the sanctity of the justice system.
Q:
A city's economic base can be viewed in terms of a multiplier process, in which the money that is brought in through export activities is then respent within the city. Which of the following economic activities is the least likely to be considered a high-impact or high-multiplier economic base activity?
A. Tourism
B. Retirement
C. Computer assembly
D. Specialized medical services
Q:
The U.S. Constitution does not specify the size of juries required in civil and criminal trials.
Q:
The demand for access between land uses is considered the "gravity" that holds a city together. These relationships between land uses are commonly referred to as:
A. linkages
B. economic bases
C. local economic activities
D. economies of scale
Q:
Historically, a jury consisted of six jurors.
Q:
A city's potential for growth or its susceptibility to decline is determined by a set of economic activities that the city provides for the world beyond its boundaries. Economists refer to this set of activities as a city's:
A. linkages
B. economic base
C. local economic activities
D. economies of scale
Q:
The Sixth and Eighth Amendments of the U.S. Constitution guarantee the right to a jury trial in civil and criminal cases.
Q:
Given the following information, calculate the total annual tax liability of the homeowner. Market value of property: $350,000, Assessed value of property: 40 % of the market value, Exemptions: $2,000, State Millage Rate: 0.25 mills, County Millage Rate: 13.70 mills.A. $34.50B. $1,890.60C. $1,925.10D. $4,685.10
Q:
Given the following information, calculate the effective tax rate expressed in mills. Market value of property: $280,000, Assessed value of property: 50 % of the market value, Exemptions: $2,000, Annual tax liability: $4,685.10.
A. 1.69 mills
B. 3.35 mills
C. 16.73 mills
D. 33.95 mills
Q:
In a typical jury trial, the judge decides the facts and the jury determines the applicable law.
Q:
Judicial restraint jurists do not view the role of attorneys and the practice of law as that of social reform.
Q:
The judicial power of the federal courts is defined and limited by the U.S. Constitution.