2. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER 100 200 300 400 500 DefinitionsAnalyticalNumerical Multi-Unit Ownership Miscellaneous

3. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER 100 200 300 400 500 DefinitionsAnalyticalNumericalMiscellaneous Multi-Unit Ownership

4. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 100 As defined in the Rectangular Survey System, an area of land approximately six miles on each side containing about 23,040 acres of land

5. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 200 ________ Estates are those types of land interests that are unlimited in the length of their duration

6. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 300 These types of tenants hold title together to the same property but each has an individual interest in the property

7. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 400 This type of easement is created when one party uses another tract of land for access without permission of the land owner

8. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 500 This type of partner has full and complete liability in a Limited Partnership

9. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 100 An LLC seems to combine the best of both worlds from partnerships and corporations because one of its attractive features is that it pays no ____ taxes

10. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 200 There is no right to access to light that comes from the _____

11. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Once the house is constructed and attached to the _____, it becomes real property Analytical for 300

12. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The greater the degree of attachment and the greater the damage that will occur should the personal property be removed, the ________ the likelihood that an item will be classified as real property Analytical for 400

13. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 500 As long as income and gains are ______ by REITs, there is no double taxation

14. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The land owner actually does hold title to the surface property located beneath the unit in this type of real property Multi-Unit Ownership for 100

15. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Multi-Unit Ownership for 200 This type of real property is a lease for a limited time at a fixed time each year

16. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner A living arrangement in which the dwellers of multi- unit housing own an undivided interest in their unit through their ownership of a corporation Multi-Unit Ownership for 300

17. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Multi-Unit Ownership for 400 These are created by a Master Deed

18. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner DAILY DOUBLE

19. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner A lease for a limited time at a fixed time each year is also called a _______ lease Daily Double Multi-Unit Ownership for 500

20. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 100 The GPS System has ____ feet accuracy

21. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 200 REITs must have at least ______% of the assets as real estate interests, cash or government securities or mortgages secured by real property

22. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 300 The column lot is the space between the surface of land and _________feet above the surface

23. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 400 The REIT must be held by at least ________ persons during 335 days during the taxable year

24. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 500 The GPS Operational Constellation consists of 24 satellites that orbit the earth in ____ hours

25. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 100 U P A

26. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 200 The four unities of a joint tenancy are possession, interest, ______ and title

27. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 300 The water rights system followed in those U.S. states with more plentiful water supplies

28. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 400 This is currently the most popular form of structure for privately owned businesses and investments, especially in Real Estate

29. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 500 Election of this status with the IRS allows a corporation to have some of its income and losses flow through to its shareholders