CRI Level I Exam.

Question Title

* 1. A tenant has signed a lease for 8,000 SF for a term of 120 months producing total rent of $1,584,000. What is the annual rent per square foot?

$1.60

$1.65

$19.25

$19.80

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* 2. A 24,367 SF office building has an in-place rent of $18.25/SF gross. The building has other income of $12,000 and an occupancy of 92.5%. There is also a collection loss of 1%. What is the appropriate effective gross income?

$417,878

$418,221

$418,898

$456,698

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* 3. Net operating income available for distribution to partners in a 60/40 general partnership is:

Taxable to the partnership entity

Taxable to the individual partner

Taxable to each partner equally

Not taxable to the partnership or any individual partners

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* 4. Which of the following type of lien has superior lien priority by operation of law over a properly executed mortgage lien?

Judgment liens

Subordinate mortgage

Federal tax lien

Real estate tax lien

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* 5. An income producing property had a net operating income of $200,000 and was recently sold for $2,000,000. The total annual debt service and insurance escrow payment was $180,596 based on a mortgage loan of $1,600,000 with the interest at 9% per year and monthly end-of-period payments for a 20-year term. What was the overall capitalization rate for the property?

8.0%

9.03%

10.0%

12.5%

Question Title

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