2.7: Student Practice - Module 2
- Page ID
- 38039
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Discussion Starters
- Based on what you’ve learned so far in chapters 1 and 2, what are the major differences between residential and commercial real estate?
- What are the advantages and disadvantages of the commercial real estate field?
- If you were to select a real estate career working for a Fortune 500 corporation, at which company would you consider applying to work? Why?
- If you were to become a mortgage lender, how would you apply your skill set to this new career?
- In thinking about your new career in the real estate industry, which areas of commercial real estate are you most interested in pursuing? Why?
Concept Check Quiz
1. Which of the following are examples of commercial real estate? (select 1 answer)
A. Denny’s Restaurant building
B. St. Mary’s Hospital building
C. Amazon warehouse
D. Von’s shopping center complex
E. All are examples of commercial real estate.
2. On a property zoned R-1 (Residential low-density), what type of improvements would you expect to see built there? (select 1 answer)
A. Single-family residence
B. Condo or duplex
C. Apartment Complex
D. Farm or ranch
3. In commercial property management, what are the differences between an asset manager and a leasing agent? (select 2 answers)
A. Asset manager collects the rents, pays the expenses, and oversees the ongoing management.
B. Asset manager is responsible for showing property to prospective tenants and getting the space leased.
C. Leasing agent collects the rents, pays the expenses, and oversees the ongoing management.
D. Leasing agent is responsible for showing property to prospective tenants and getting the space leased.
4. A mortgage loan originator (MLO), also known as a mortgage lender, is licensed by the Nationwide Mortgage Licensing System (NMLS), but may also require a state license (depending on the state).
A. True
B. False
5. In a corporate career position working for a Fortune 500 company, to earn the highest compensation, what type of qualifications are required?
A. Real estate broker license
B. Bachelor’s or Master’s college degree
C. Certificate from Google
D. Pass a typing test for 65 words per minute
Answers: 1. e, 2. a, 3. a, 4. a, 5. b