Name: Virginia-Real-Estate-Salesperson
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SKU: Virginia-Real-Estate-Salesperson
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Question 1

A building has an NOI of $130,000 and is being valued with a cap rate of 4%. Using the income approach, what is the value of the building?

A. $4,130,000
B. $2.450,000
C. $3.250,000
D. $1,300.000

Question 2

Which of the following is correct about implied and express contracts?

A. Implied contracts can be legally binding, while express contracts cannot.
B. Express contracts can be legally binding, while implied contracts cannot.
C. Express contracts explicitly state the terms of the contract, while implied contracts are established by the parties' actions.
D. Implied contracts explicitly state the terms of the contract, while express contracts are established by the parties' actions.

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