1. Real Estate QUIZMASTER
Definitions
Analytical
Rent vs. Buy
Numerical
Miscellaneous
100
100
100
100
100
200
200
200
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200
300
300
300
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400
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500
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500
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

2. Real Estate QUIZMASTER
Rent vs. Buy
Definitions
Analytical
Numerical
Miscellaneous
100
100
100
100
100
200
200
200
200
200
300
300
300
300
300
400
400
400
400
400
500
500
500
500
500
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

3. F H A Definitions for 100 What is Federal Housing Administration
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

4. lending in specific geographic areas based on a presumption of risk
Definitions for 200
The avoidance of any
lending in specific geographic areas based on a presumption of risk
What is Redlining
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

5. charges to the mortgage borrower
Definitions for 300
Prepaid interest rate
charges to the mortgage
borrower
What are Points
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

6. This act began requiring pro-active lending in all areas from which
Definitions for 400
This act began requiring pro-active lending in all areas from which
deposits are collected
What is the Community Reinvestment Act
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

7. Definitions for 500
G N M A
What is the Government National Mortgage Association
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

8. Analytical for 100
If demand increases in the rental housing market, rate of return will ________
What is Increase
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

9. Analytical for 200
Having the seller pay the points results in lower capital requirements by the borrower at ______
What is Closing
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

10. Analytical for 300
A decrease in household size has caused the number of households to _____
What is Increase
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

11. If supply increases in the rental housing market, rents will ________
Analytical for 400
If supply increases in the rental housing market, rents will ________
What is Decrease
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

12. Analytical for 500
A near peak situation in the stock market could ______ the short term demand for owned housing
What is Increase
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

13. Rent vs. Buy for 100
Most buyers wish to wait until they can personally finance at least ____% of the purchase price
What is 10%
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

14. Rent vs. Buy for 200
The length of time a household expects to stay in a particular location has this effect on the likelihood of it becoming an owner
What is Increases it
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

15. Rent vs. Buy for 300
The higher a person’s income tax rate, the _____ likely they are to own vs. rent
What is More
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

16. Rent vs. Buy for 400
The ______ your home aspirations, the longer you will wait to enter the home owner cycle
What is Higher
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

17. Rent vs. Buy for 500
The budgeting certainty of renting is more appealing to households with _____ savings
What is Less or Low
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

18. Numerical for 100
Currently, an owner can exclude up to $_______ of capital gain every 2 Years
What is $250,000
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

19. Numerical for 200
In the U.S., the total value of owner occupied housing which includes land is about $______
What is $6 trillion
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

20. Numerical for 300
If mortgage interest is $2,600, property taxes are $900, and the after tax costs are $2,800, the federal tax bracket for the household is ___%
What is 20%
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

21. Numerical for 400
Average new housing has increased to approximately ______ square feet in the year 2003
What is 2,200
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

22. Numerical for 500
Assuming that lenders do not want to see monthly payments > 25% of household income, what is the maximum value of a house for a household income of $100,000 when mortgage rates for a 85% LTV are 10% paid monthly? (Ignore upfront/ closing costs)
What is $237,398
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

23. The FNMA is also called _______ Mae
Miscellaneous for 100
The FNMA is also called _______ Mae
What is Fannie
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

24. Demand for homes is highest during this season
Miscellaneous for 200
Demand for homes is highest during this season
What is Spring
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

25. Miscellaneous for 300
Of the various before tax costs, the most significant monthly cash flow item for recent homeowners tend to be the _______
What is the Mortgage Payments
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

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

27. Daily Double Miscellaneous for 400
The older the residents of a household the _____ likely they are to be homeowners as opposed to renters
What is More
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

28. Miscellaneous for 500
Approximately ___% of all American households own their own home (as in 2000)
What is 67%
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner