Certified Leasing Specialist - International Council Of .
5/17/2016Certified Leasing SpecialistCLS Global Certification BriefAndrew Carlson, CRX, CSM, CLSVP-Retail Brokerage, JLL (AM) 2016ICSC Professional CertificationsWhy CLS Matters For our industry: Elevate Professional Standards Recognize Industry LeadersFor your company: Identify Emerging Leaders Enhance Individual PerformanceFor you: Increase your worth and recognition Achieve highest professional standards1
5/17/2016Certified Leasing SpecialistDomain 1. Development and Market Research Fundamentals (10%)Domain 2. Leasing Fundamentals (20%)Domain 3. Long-term Leasing (10%)Domain 4. Short-term Leasing (10%)Domain 5. Legal (13%)Domain 6. Design & Construction (9%)Domain 7. Retailing (13%)Domain 8. Finance (10%)Domain 9. Operations, Marketing and Promotions(5%)Domain 1Development & Market ResearchFundamentals Market Planning and AnalysisCompetition/Void AnalysisTrade Area (catchment area) AnalysisMarket ShareTypes of Centers and Anchor SelectionSite Planning/Analysis2
5/17/2016Development & Market ResearchFundamentals Business Climate/Industry TrendsRetailer Site Selection ProcessRedevelopmentPublic/Private CooperationDevelopment Landlord and Retailer IncentivesEntitlement Process8Development & Market ResearchFundamentalsWhich of the following is a psychographic measure of atrade area?A. Household income levelsB. Number of children and adults per householdC. Educational level of the populationD. Newspaper preferences of the population3
5/17/2016Development & Market ResearchFundamentalsWhich of the following is a psychographic measure of atrade area?A. Household income levelsB. Number of children and adults per householdC. Educational level of the populationD. Newspaper preferences of the populationDevelopment & Market ResearchFundamentalsThe population of a trade area can indicate which of thefollowing for a shopping center?A. Its potential business volumeB. Its probable profit marginC. What size store will be most successfulD. What length lease term will be most profitableDevelopment & Market ResearchFundamentalsThe population of a trade area can indicate which of thefollowing for a shopping center?A. Its potential business volumeB. Its probable profit marginC. What size store will be most successfulD. What length lease term will be most profitable4
5/17/2016Domain 2Leasing Fundamentals Tenant Prospecting and Evaluation by DeveloperMerchandise Mix and Tenant MixEstablishing the Leasing PlanStructuring the DealEconomics of Total Occupancy Costs (TOC)RemerchandisingBrokers/Tenant Representatives155
5/17/2016Leasing FundamentalsA landlord wants to recapture a tenant's space prior tolease expiration and is willing to negotiate a buyout. Whichof the following is the most important component for thelandlord to consider in determining a fair value for thelocation?A. Trade area demographicsB. Location of the shopping centerC. Unamortized tenant allowanceD. Prevailing market rentsLeasing FundamentalsA landlord wants to recapture a tenant's space prior tolease expiration and is willing to negotiate a buyout. Whichof the following is the most important component for thelandlord to consider in determining a fair value for thelocation?A. Trade area demographicsB. Location of the shopping centerC. Unamortized tenant allowanceD. Prevailing market rentsLeasing FundamentalsIn a food-court lease, a tenant's cash contributionto the landlord is commonly referred to as a:A. construction allowanceB. maintenance or utility feeC. negative allowance or key moneyD. guarantee6
5/17/2016Leasing FundamentalsIn a food-court lease, a tenant's cash contributionto the landlord is commonly referred to as a:A. construction allowanceB. maintenance or utility feeC. negative allowance or key moneyD. guaranteeLeasing FundamentalsWhich of the following is most important to a leasingspecialist who is prospecting for a high-fashion specialtystore?A.B.C.D.Merchandised well within categoryAttractive storefront displayOutstanding store fixturesMultiple store locationsLeasing FundamentalsWhich of the following is most important to a leasingspecialist who is prospecting for a high-fashion specialtystore?A.B.C.D.Merchandised well within categoryAttractive storefront displayOutstanding store fixturesMultiple store locations7
5/17/2016Domain 3Long-Term Leasing Long-term Leasing ProspectingPad/Freestanding/OutlotProposal/Letter of Intent (LOI)Tenant Improvement (TI) AllowanceKey Money248
5/17/2016Long-Term LeasingWhich of the following is essential to a landlord'sletter of intent?A. Assignment/sublet provisionsB. Rental deposit requirementsC. Basic business termsD. Expiration date of offerLong-Term LeasingWhich of the following is essential to a landlord'sletter of intent?A. Assignment/sublet provisionsB. Rental deposit requirementsC. Basic business termsD. Expiration date of offerLong-Term LeasingFrom a landlord's perspective, and after financing hasbeen obtained, the most important reason for including anoperating covenant in a department store agreement is toobtain:A.B.C.D.small-tenant leasestemporary-tenant leasesincreased market rentslonger lease terms9
5/17/2016Long-Term LeasingFrom a landlord's perspective, and after financing hasbeen obtained, the most important reason for including anoperating covenant in a department store agreement is toobtain:A.B.C.D.small-tenant leasestemporary-tenant leasesincreased market rentslonger lease termsDomain 4Short-Term Leasing License AgreementRevenue Generating SourcesSetting Fees (short-term “rents”)Short-Term Leasing ProspectingCommon Area LimitationsVisual MerchandisingOperationsSecuring, Sponsorship, Advertising and Events10
5/17/201631Short-Term LeasingA space in a center has a width of 25 feet to the centerlinebetween each of the stores on either side of it and each sidewallis 1ft. thick. The space is 100 feet deep from the outside of thestore front to the inside of the rear wall, which is also 1ft. thick.The measurement of this space is how many square feet (sf)?A. 2,400 sfB. 2,424 sfC. 2,500 sfD. 2,525 sfShort-Term LeasingA space in a center has a width of 25 feet to the centerlinebetween each of the stores on either side of it and each sidewallis 1ft. thick. The space is 100 feet deep from the outside of thestore front to the inside of the rear wall, which is also 1ft. thick.The measurement of this space is how many square feet (sf)?A. 2,400 sfB. 2,424 sfC. 2,500 sfD. 2,525 sf11
5/17/2016Short-Term LeasingWhat is an early warning sign of a poorlyperforming short-term merchant?A. Late openingsB. Adding merchandise which is not part of the useclauseC. Delinquent rent paymentsD. No return policyShort-Term LeasingWhat is an early warning sign of a poorlyperforming short-term merchant?A. Late openingsB. Adding merchandise which is not part of the useclauseC. Delinquent rent paymentsD. No return policyDomain 512
5/17/2016Legal Lease/License Terminology Defaults and Remedies Other Legal Concepts38LegalA tenant has a lease that does not permit assignment. Thetenant subsequently files for bankruptcy under Chapter 11.Under the authority of the bankruptcy court, which of thefollowing statements is true?A. The tenant has a maximum of six months in which to file areorganization plan.B. The tenant must immediately close all of its unprofitable stores.C. The tenant is prohibited from borrowing money.D. The tenant is permitted to assign its lease to a creditworthytenant with a consistent use.13
5/17/2016LegalA tenant has a lease that does not permit assignment. Thetenant subsequently files for bankruptcy under Chapter 11.Under the authority of the bankruptcy court, which of thefollowing statements is true?A. The tenant has a maximum of six months in which to file areorganization plan.B. The tenant must immediately close all of its unprofitable stores.C. The tenant is prohibited from borrowing money.D. The tenant is permitted to assign its lease to acreditworthy tenant with a consistent use.LegalA fidelity bond is defined as:A.B.A bond marketed to gather money for an investment.A state-issued bond marketed to finance a shoppingcenter.C. An insurance policy that covers employee theft ofdishonesty.D. An insurance policy that covers customer shoplifting.LegalA fidelity bond is defined as:A.B.A bond marketed to gather money for an investment.A state-issued bond marketed to finance a shoppingcenter.C. An insurance policy that covers employee theft ofdishonesty.D. An insurance policy that covers customer shoplifting.14
5/17/2016Domain 6Design & Construction TerminologyEnvironmentally Accepted PracticesPricing and CostsConstruction Process4515
5/17/2016Design & ConstructionThe problem of division of responsibility for variousconstruction items in a store can best be resolvedthrough which of the following?A. Lease proposalsB. A construction lease exhibitC. Site inspectionsD. Tenant's plans and specificationsDesign & ConstructionThe problem of division of responsibility for variousconstruction items in a store can best be resolvedthrough which of the following?A. Lease proposalsB. A construction lease exhibitC. Site inspectionsD. Tenant's plans and specificationsDesign & ConstructionLeasehold improvements are defined as:A. only those improvements that can be removedwithout damaging the premises.B. only those improvements that can be removedeasily.C. permanently affixed improvements only.D. all improvements.16
5/17/2016Design & ConstructionLeasehold improvements are defined as:A. only those improvements that can be removedwithout damaging the premises.B. only those improvements that can be removedeasily.C. permanently affixed improvements only.D. all improvements.Design & ConstructionBefore tenant construction begins, all of thefollowing should be received from the tenantEXCEPT:A. Execution of the leaseB. Building permitC. Certificate of insuranceD. Certificate of occupancyDesign & ConstructionBefore tenant construction begins, all of thefollowing should be received from the tenantEXCEPT:A. Execution of the leaseB. Building permitC. Certificate of insuranceD. Certificate of occupancy17
5/17/2016Domain 7Retailing Mathematics of RetailingTerms and DefinitionsCategorization of Retail StoresMulti-channel RetailingRetailer Financial Statements and MetricsRetailing Occupancy Cost-to-Sales RatioRetailer’s Brand Strategy and Business PlanSales Performance by Type of RetailerSupply Chain ManagementRetailer Seasonality18
5/17/201655RetailingA juniors' store and a misses' store are bestdifferentiated by which of the following?A. Price pointsB. Depth of merchandise selectionC. Age of target customerD. Fashion-forward focusRetailingA juniors' store and a misses' store are bestdifferentiated by which of the following?A. Price pointsB. Depth of merchandise selectionC. Age of target customerD. Fashion-forward focus19
5/17/2016RetailingWhich of the following would NOT be caused bypoor stock turnover?A.B.C.D.Outdated merchandiseRestricted open-to-buyExcessive markdownsLack of inventoryRetailingWhich of the following would NOT be caused bypoor stock turnover?A.B.C.D.Outdated merchandiseRestricted open-to-buyExcessive markdownsLack of inventoryRetailingJoanne’s Jeans is looking to meet with a developer to moveher street-front store into a mall location. She is concernedabout the type of information that the developer will ask herto present at her meeting. What should she take to themeeting?A. Copy of her current leaseB. Pictures of her storeC. Marketing planD. Business plan20
5/17/2016RetailingJoanne’s Jeans is looking to meet with a developer to moveher street-front store into a mall location. She is concernedabout the type of information that the developer will ask herto present at her meeting. What should she take to themeeting?A. Copy of her current leaseB. Pictures of her storeC. Marketing planD. Business planDomain 8Finance Setting BudgetsReforecastPro FormaProject/Center Profit and Loss [P&L] StatementsMarket Value of Project CenterNet Effective Rent (NER)Basic Financial TerminologyOwner’s ObjectivesStakeholder, Ownership and Management Types21
5/17/201664FinanceA tenant signs a 10-year lease and agrees to a 20-persquare-foot (psf) rent with a 40-psf tenant allowance. Aninterest rate of 10 percent is used and the amortized rate is16.27 percent. From the landlord's perspective, what is theapproximate net effective rent?A. 20.00 psfB. 16.00 psfC. 15.60 psfD. 13.50 psfFinanceA tenant signs a 10-year lease and agrees to a 20-persquare-foot (psf) rent with a 40-psf tenant allowance. Aninterest rate of 10 percent is used and the amortized rate is16.27 percent. From the landlord's perspective, what is theapproximate net effective rent?A. 20.00 psfB. 16.00 psfC. 15.60 psfD. 13.50 psf22
5/17/2016FinanceA profit and loss statement measures a retailer'sperformance over a period of time and shows whichof the following?A. Income and expense onlyB. Income, expense and receivablesC. Income, expense and inventoryD. Income, expense and net worthFinanceA profit and loss statement measures a retailer'sperformance over a period of time and shows whichof the following?A. Income and expense onlyB. Income, expense and receivablesC. Income, expense and inventoryD. Income, expense and net worthFinanceAssuming a capitalization (cap) rate of 10 percent and anet operating income (NOI) of 460,000, the value of theproperty is 4,600,000. If the cap rate is down 2 points to 8percent, then the value of the property will be?A. Increased by 1,150,000B. Decreased by 1,150,000C. Increased by 920,000D. Decreased by 920,00023
5/17/2016FinanceAssuming a capitalization (cap) rate of 10 percent and anet operating income (NOI) of 460,000, the value of theproperty is 4,600,000. If the cap rate is down 2 points to 8percent, then the value of the property will be?A. Increased by 1,150,000 C. Increased by 920,000B. Decreased by 1,150,000 D. Decreased by 920,000Domain 9Operations, Marketing and Promotions Basic Terminology Business-to-Business (B2B) Marketing toAttract Leasing Prospects Use of Social Media and Digital Marketing Common Area Maintenance (CAM)24
5/17/201673Operations, Marketing and PromotionsAn 800,000-square-foot shopping center contains fourdepartment stores, W, X, Y, and Z, each containing 100,000 sf. Thelease on a 2,000 sf space states that the tenant will pay its prorata share of CAM expenses, less the amounts paid bydepartment stores X, Y and Z only. The tenant's pro rata share isdefined as the proportion its demised premises bear to the grossleasable area of the shopping center, less the amount of spaceoccupied by department stores X, Y, and Z only. Each of the fourdepartment stores contributes 25,000 to CAM. The total CAMcosts for the center are 575,000. In this situation, the 2,000 sf.tenant is responsible for how much CAM?A. 1,500B. 2,000C. 2,375D. 2,500Operations, Marketing and PromotionsAn 800,000-square-foot shopping center contains fourdepartment stores, W, X, Y, and Z, each containing 100,000 sf. Thelease on a 2,000 sf space states that the tenant will pay its prorata share of CAM expenses, less the amounts paid bydepartment stores X, Y and Z only. The tenant's pro rata share isdefined as the proportion its demised premises bear to the grossleasable area of the shopping center, less the amount of spaceoccupied by department stores X, Y, and Z only. Each of the fourdepartment stores contributes 25,000 to CAM. The total CAMcosts for the center are 575,000. In this situation, the 2,000 sf.tenant is responsible for how much CAM?A. 1,500B. 2,000C. 2,375D. 2,50025
5/17/2016Operations, Marketing and PromotionsWhat would typically be listed in a tenant’s operational auditperformed by the landlord in a center?A. Walkways in front of the store are clean and well-maintainedB. Storefront: all materials are in good repair (windows, moldings,flooring, wood trim, etc.) and are maintained according to centerstandardsC. Windows are clean and with new and up-to-date merchandiseD. The cash register is new and less than 3 years oldOperations, Marketing and PromotionsWhat would typically be listed in a tenant’s operational auditperformed by the landlord in a center?A. Walkways in front of the store are clean and well-maintainedB. Storefront: all materials are in good repair (windows,moldings, flooring, wood trim, etc.) and are maintainedaccording to center standardsC. Windows are clean and with new and up-to-date merchandiseD. The cash register is new and less than 3 years oldCERTIFICATION EXAMINFORMATION AND LOGISTICS26
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5/17/2016Exam Format & RegulationsFormat Arrive 30 Minutes Early Take Tutorial 3 ½ Hours for Exam 100 Questions Multiple Choice 15 Minute BreakWhat to Bring on Test Day Approved Calculator Government Issued IDWhat is Provided Lockers for personal items Scratch PaperTesting Tips Be preparedBudget your timeRead questions CarefullyEliminate answers you know are wrongAlways answer the question-there is nopenalty for guessingExam Preparation and Study Aids Exam Specifications– These blueprints provide you with a detailed andorganized list of domains and knowledge areas you willbe tested on Shopping Center Study Series– 12 webinars covering key concepts in the retail real estateindustryAvailable online at www.icsc.org/CLS28
5/17/2016Exam Preparation and Study Aids Knowledge Assessments & Practice Tests– In key areas available online, anytime Publications– While there is no single publication that will prepare acandidate, many professionals use publications toaugment their studyAvailable online at www.icsc.org/CLSExam Preparation and Study Aids John T. Riordan Schools Fast-rising executives, ambitious newcomers and experiencedindustry professionals come together for 3-5 days engaging incoursework designed to provide attendees with anunparalleled curriculum that is uniquely customized withregional concepts, issues and case studies. Upcoming school is September 25 - 29, 2016 in Miami, FL.Visit www.icsc.org/educationQuestions & Discussion29
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tenant subsequently files for bankruptcy under Chapter 11. Under the authority of the bankruptcy court, which of the following statements is true? A. The tenant has a maximum of six months in which to file a reorganization plan. B. The tenant must immediately close all of its unprofitable stores. C. The tenant is prohibited from borrowing money. D.
make up the GSA Fleet vehicle leasing program Summarizes the laws and regulations that establishes GSA's vehicle leasing authority, funding source, cost recovery requirements, and leasing agreement FY17 Updates -Clarified that leasing agreements are not required for standard operating agreements with GSA Fleet Leasing
Aug 04, 2011 · Certified Secure Computer User (CSCU) 16 EC-Council Certified Security Specialist (ECSS) 17 EC-Council Certified Encryption Specialist (ECES) 18 Certified Network Defender (CND) 19 Certified Ethical Hacker (CEH) 20 Certified Penetration Testing Professional (CPENT)
As mentioned, GSA has identified three levels for the Leasing Certification Program designed to facilitate the successful management of GSA's leasing actions. Level I certification is tailored with foundational knowledge and skills necessary to prepare Leasing Contracting Officers to execute leasing actions at the Basic or Simplified
ORIX Leasing (LOLC), the first specialized leasing company in Sri Lanka, expressed interest in obtaining ADB financial assistance. In March 2007, ADB's Board of Directors approved the South Asian SME Leasing Facility, which provided direct loans to LOLC and Maldives Finance Leasing Company.2 B. Key Project Features 4.
f automobile leasing ntirely without legal protection, ieme often proves insufficient. utomobile leasing is regulated r Leasing Act or Truth in Leas-76 as chapter 5 of the Truth in purposes of the Truth in Leasing ingful disclosure of the terms of y for personal, family, or house-able the lessee to compare more erms available to him, limit bal-
Participant Guide National Apartment Leasing Professional. 4. Message to Apartment Leasing Professionals. This education program was developed by Leasing, Operations, Marketing and Training . Professionals working in the multifamily housing industry across the nation. It was developed and revised at the request of Leasing Professionals and .
Leasing: Estructura y Beneficios Generales El Arrendamiento Financiero o Leasing es una alternativa de financiamiento que permite la optimización de la gestión financiera y tributaria de una empresa. En un Leasing, el Arrendador (BCP) compra los bienes que el Arrendatario (Cliente) quiere adquirir para dárselos en Leasing.
Prerequisite: NCDA NetApp Certified Implementation Engineer Data Protection Specialist Prerequisite: NCDA NetApp Certified Implementation Engineer SAN Specialist, E-Series NetApp Certified Storage Installation Engineer, ONTAP NetApp Certified Support Engineer NetApp Certified Support Engineer ONTAP Specialist Prerequisite: NCSE HYBRID CLOUD TRACK
