A Change in the Land-Use Regulations Prior to Vesting

question 18

Multiple Choice

A change in the land-use regulations prior to vesting:

• A) may preclude a development that would have been permissible under the regulations in force at the time the property was acquired.
• B) does not change a developer's right to develop the property.
• C) makes the project immune from any subsequent changes in the regulations.
• D) is unrelated to the "last discretionary approval" required for development.

Comprehend the impact of compounding frequency on present and future values.

Familiarize with the definitions and characteristics of annuities, perpetuities, and amortized debt.

Recognize the relationship between present value, future value, and the discount rate.

Understand the calculations related to present and future values of investments.

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Definitions:

Observational Learning

Learning by observing others.

Spontaneous Recovery

The reappearance, after a pause, of an extinguished conditioned response.

Respondent Behavior

Behavior that occurs as an automatic response to some stimulus.

Generalization

The tendency, once a response has been conditioned, for stimuli similar to the conditioned stimulus to elicit similar responses.