41. What is the term used to describe the legal agreement that allows an investor to use someone else’s property for a specified period?
a) Mortgage
b) Lease agreement
c) Rental contract
d) Partnership agreement
42. Which of the following is NOT a factor to consider when selecting a location for a real estate investment?
a) Accessibility
b) Demographics
c) Weather conditions
d) Proximity to amenities
43. What is the term used to describe the income generated by a property after deducting operating expenses but before deducting debt service?
a) Net operating income (NOI)
b) Gross income
c) Cash flow
d) Cap rate
44. Which of the following is NOT a common type of real estate property ownership?
a) Freehold
b) Leasehold
c) Cooperative
d) Intellectual property
45. What is the term used to describe the process of securing financing for a real estate investment by using the property itself as collateral?
a) Mortgage
b) Loan modification
c) Refinancing
d) Reverse mortgage
