Welcome to The Excel for Real Estate Skills Assessment Test
The test is designed to allow you to assess your level of Excelbased skill related to real estate finance and investment analysis.
The test is designed to allow you to assess your level of Excelbased skill related to real estate finance and investment analysis.
The test is brought to you on a complimentary basis by REFAI Certification.
You can learn about REFAI Certification in the video below.
0 of 15 questions completed
Questions:
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
0 of 15 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Average score 

Your score 

In your learner profile you have a list of all of your quizzes and links to view the quiz and answer explanations. Here are instructions for how to view them.
There are dozens more skills and techniques to know besides the 15 items tested in this quiz. Want to master it all? Get our 3course bundle here. Or consider our broader REFAI Certification course, which includes the 3 Excel skills Certifications in its curriculum.
Academic and U.S. military discounted pricing is available.
All formulas must begin with the following notation:
Select the formula which corresponds to the following phrase: If D11=0 and E11=1, then return the text “Construction Start”, otherwise return no text
Using the table below and the Formula Template provided, select the answer choices to construct a formula that will report the percentage of the total construction budget spent in Month #6 for a 8month construction schedule.
Which of the formulas below would represent the Present Value of the Year 4 cash flow if the Discount Rate were to remain at 8%?
You wish to create a data table that will show how the capitalized value will change at different rent levels and different capitalization rates. Which cell reference from the Table below should you place into cell F3 to do so?
If the annual growth rate for a $700,000 investment made at Time 0 is 6.00%, which of the following formulas would calculate its Future Value at the end of Year 8?
If the Total Equity Investment comprises 20.00% of a $100MM Purchase Price, and the Sponsor comprises 8.00% of the Total Equity Investment, how much would the Sponsor contribute towards the Purchase Price?
What is the Year 2 Cash on Cash Return?
Which of Option 1 and Option 2 would yield the higher Net Present Value of Expected Values? Assume a cash investment of $1MM at Time 0.
Option 1: a sale at the end of Year 3 for $2,000,000 with an Annual Discount Rate of 7%
Option 2: a sale at the end of Year 3 for $1,800,000 with an Annual Discount Rate of 4%
What is the correct formula to use to backsolve into the Maximum Loan Amount using the Debt Service Coverage ratio test in cell G13?
$1,000 is invested in a property. The property generates no Operating Cash Flow from Year 1 through Year 2. The property generates an Operating Cash Flow of $1,000 in Year 3. What is the IRR for this transaction as of the end of Year 3?
$1,000 is invested in a property. The property generates $100 annually in Operating Cash Flow from Year 1 through Year 4. The asset is sold at the end of Year 4, generating Net Sales Proceeds of $1,000. What is the IRR for this project?
$10,000 is invested in a project. The Operating Cash Flows generated are $1,000 annually. The owner hopes to achieve a Transactionlevel IRR of 20.00%. If the project is held for 4 years and sold at the end of Year 4, what Net Sale Proceeds value will allow him to achieve his target IRR?
A $10,000 investment is made in a property at Time 0, and the property is held for five years. The property returns $1,000 per year with an annual growth rate of 3.00%. If an IRR of 18.00% is achieved, what is the Project Net Cash Flow in Cell C6 as of the end of Year 5?
A $1,000 investment is made in a property. The property is held for 4 years, generating annual nonescalating cash flows of $65 in each of Years 1 through 4. The asset is sold at the end of Year 4, generating net sale proceeds of $2,000. A 7% Annual cumulative, noncompounding Preferred Return structure is assumed, with participation by both the investor and the sponsor. What is the Remaining Unpaid Preferred Return at the end of Year 3?