2. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER 100 200 300 400 500 DefinitionsAnalyticalNumericalFormulaeAcronyms

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

4. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 100 This term refers to the ability of an investor to increase the returns on equity through the use of debt

5. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 200 The rent that can be collected on an annual basis assuming that a property is completely occupied

6. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 300 _______ real estate investment refers to owning the investment via the public markets and securities which may be traded

7. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 400 This “basis” of a real property is what the owner has invested in it, which includes the portion bought with debt, less accumulated depreciation

8. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 500 The average increase in all prices weighted based on typical consumption

9. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 100 How aggressively an investor tries to accumulate wealth depends on his _____

10. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 200 The IRR is a number which causes the discounted sum of all future returns to be exactly equal to ___

11. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Riskfree investments are estimated by _______ securities Analytical for 300

12. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner More leverage ________ the variability of returns Analytical for 400

13. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 500 When mortgage payments are made, principal repayment enhances the investor’s equity in the property unless…

14. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner G I G O Acronyms for 100

15. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Acronyms for 200 N O I

16. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner I R R Acronyms for 300

17. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Acronyms for 400 Y M

18. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner R O A Acronyms for 500

19. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 100 The IRR required by most real estate investors for the last several years has tended to run about ____ for conservative low risk investments

20. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 200 A bond purchased for $900 which pays an annual end of year coupon of $90 per year with a maturity value of $1,000 in exactly two years has a Current Yield of _____

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

22. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Daily Double Numerical for 300 A bond purchased for $900 which pays an annual end of year coupon of $80 per year with a maturity value of $1,000 in exactly two years has a YM of _____

23. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 400 If we bought a property for $200,000 with $50,000 down as equity and the first and second year before tax cash flows are $6,000 and $8,000 respectively, then the Year Two ROE = __________

24. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 500 If we bought a property for $200,000 with $50,000 down as equity and the first and second year before tax cash flows are $6,000 and $8,000 respectively, then the Year One ROA = __________

25. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Formulae for 100 Gross Rent – Vacancy = ??????????

26. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Formulae for 200 Stock Current Returns = ?????????? Stock Price

27. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Formulae for 300 NOI - ??????????? = Cash Flow (before tax)

28. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Formulae for 400 Bond Current Returns = ??????????? Bond Price

29. “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Formulae for 500 ????????? – Operating Expenses = NOI