IAAO 102 EXAM 2023-2024 ACTUAL EXAM 200
QUESTIONS AND CORRECT DETAILED
ANSWERS|AGRADE
A contract which calls for a fixed minimum base rent and a variable rent
(overage rent) which is based on volume of business, sales, productivity,
or use of the property, or use of the property by the tenant. – ANSWERPercentage lease
Leases may or may not be in written form. This provides no security for
the tenant or landlord. – ANSWER- Month to month – Short term
The tenant is required to pay all or part of the operating expenses
associated with the real estate. – ANSWER- Net lease
The tenant pays some or all of the property expenses. – ANSWERSingle, double or triple net lease.
Degrees between the the gross lease – ANSWER- Single and double net
leases
May require specific expenses to be paid by either tenant or landlord. –
ANSWER- Triple lease<\/p>\n\n\n\n
The landlord is required to pay all operating expenses associated with
the real estate. – ANSWER- Gross lease
When this section appears in a lease, it will usually explain the extent of
the work that the landlord is willing to do in the form of a building or
improvement allowance. – ANSWER- Tenant improvements
The amount of rent that a property should command in the open market.
Also known as economic rent. – ANSWER- Market rent
Is the rent the tenant is paying according to the lease in affect at the time
of appraisal or analysis. – ANSWER- Contract rent
The amount which contract rent exceeds market rent. – ANSWERExcess rent
The amount of rent received in accordance with the terms of a
percentage clause in a percentage lease contract. – ANSWERPercentage rent
Occurs when market rent is greater than contract rent. – ANSWERDeficit rent (leasehold rent or leasehold income)
The lease base rent less rent concessions. Used as a common
denominator to compare leases with different provisions. – ANSWEREffective rent<\/p>\n\n\n\n
Includes the entire area of the building. – ANSWER- Gross leasable area
(GLA)
Includes only the floor area occupied by the tenant. – ANSWER- Net
leasable area (NLA)
What is the difference between gross leasable area and net leasable area?<\/p>\n\n\n\n
Competition among buyers may lead to a _<\/em><\/strong>, which increases IAAO 102 EXAM 2023-2024 ACTUAL EXAM 200QUESTIONS AND CORRECT DETAILEDANSWERS|AGRADEA contract which calls for a fixed minimum base rent and a variable rent(overage rent) which is based on volume of business, sales, productivity,or use of the property, or use of the property by the tenant. – ANSWERPercentage leaseLeases may or may not be in written […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-112014","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/112014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=112014"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/112014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=112014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=112014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=112014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
prices and profits to sellers. – ANSWER- Shortage
What rate reflects the return of the investment in the wasting asset? –
ANSWER- Recapture
What leverage is achieved when funds are vested in property, which has
a higher rate of return than the cost of borrowed funds? – ANSWERPositive
Four most common methods of financing real estate are? – ANSWER- 1.
Mortgage<\/p>\n\n\n\n\n
What is a junior mortgage? – ANSWER- Second mortgage
What are the four types of mortgages classified according to repayment
provisions? – ANSWER- 1. Amortized<\/li>\n\n\n\n