5/19/2018 StudyGuideFinalExamRealEstateFinancesum2012-slidepdf.com http://slidepdf.com/reader/full/study-guide-final-exam-real-estate-financesum2012 1/3 Study Guide Final Exam Real Estate Finance Fall 2012 Chapter 1 & 2 - Study terms especially mortgage, deed, title, astract o! title, !ee simple lease, !reehold estate, leasehold estate, grantor, grantee, lessor, lessee, mortgagor, mortgagee, due on sale clause, acceleration clause, types o! an"ruptcy Chapter # $ %no hat C'(, and C)( are and the di!!erences* (a"e sure you can calculate loan alances and e!!ecti+e returns ith points and prepayment penalties Chapter $ nderstand the ris" trans!er eteen FR( and +arious 'R(s* nderstand the mechanic o! 'R(S Chapter . /ncremental cost o! orro extra amount $ Study prolem .-1 Choosing eteen one or to loans !or eual amount $ Study prolem .-2 Re!inancing prolem $ Study prolem .- (ar"et +alue o! loan $ Study prolem .-# uy don $ Study prolem .-3 Chapter 3 $ %no essential relationships !or loan applications, ratios 4)/5/6Gross /ncome & )/5/7det6gross income8 and ho to calculate* Chapter 9 $ :e!initions o! lease terms, especially steps, stops, C)/ ad;ustments and ris" trans!er Calculate e!!ecti+e rent $ Study prolem 9-1 and sample in oo" Chapter 10 'pply terminal cap rate to <=/ to get sale +alue at end o! holding period $ )ro 10-1 Find the +alue o! property y !inding the mortgage and euity $ Study )rolem 10-9 Chapter 11 $ Calculate taxale income $ study prolem 11-1, 11-2 and 11-> last spreadsheet pro;ect and example !rom text Calculate a!ter tax cash !lo !rom sale o! property $ study prolem 11-1, 11-2 and 11-> last spreadsheet pro;ect and example !rom text Fill in the lan" spreadsheet prolem similar to prolems 11-1, 11-2 and 11-> last spreadsheet pro;ect and example !rom text, in the lan" spread sheet !ind the e!ore and a!ter tax cash !los and 5/RR and '5/RR*

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Study Guide

Study Guide Final Exam Real Estate FinanceFall 2012Chapter 1 & 2 -

Study terms especially mortgage, deed, title, abstract of title, fee simple lease, freehold estate, leasehold estate, grantor, grantee, lessor, lessee, mortgagor, mortgagee, due on sale clause, acceleration clause, types of bankruptcyChapter 4

Know what CAM, and CPM are and the differences. Make sure you can calculate loan balances and effective returns with points and prepayment penalties

Chapter 5

Understand the risk transfer between FRM and various ARMs.

Understand the mechanic of ARMS

Chapter 6

Incremental cost of borrow extra amount Study problem 6-1

Choosing between one or two loans for equal amount Study problem 6-2

Refinancing problem Study problem 6-3

Market value of loan Study problem 6-4

Buy down Study problem 6-8 Chapter 8 Know essential relationships for loan applications, ratios (PITI/Gross Income & PITI+debt/gross income) and how to calculate.

Chapter 9 Definitions of lease terms, especially steps, stops, CPI adjustments and risk transfer

Calculate effective rent Study problem 9-1 and sample in book Chapter 10

Apply terminal cap rate to NOI to get sale value at end of holding period Prob 10-1

Find the value of property by finding the mortgage and equity Study Problem 10-9Chapter 11

Calculate taxable income study problem 11-1, 11-2 and 11-3; last spreadsheet project and example from text

Calculate after tax cash flow from sale of property study problem 11-1, 11-2 and 11-3; last spreadsheet project and example from text

Fill in the blank spreadsheet problem similar to problems 11-1, 11-2 and 11-3; last spreadsheet project and example from text, in the blank spread sheet find the before and after tax cash flows and BTIRR and ATIRR.