Real Estate Appraisal

Which of the following is the best example of functional obsolescence?

A person engaged solely in the appraisal of real estate is required to:

The elements of value do not include:

To obtain depreciation on real estate, the real estate:

As to the Inwood and Hoskold appraisal methods, which of the following is true?

To find a good comparable, an appraiser would be least interested in a sale:

Actual rental income is best obtained by:

The conditions of sale will affect the:

A property value would be adversely affected by:

A factor an appraiser would consider when appraising a building would be:

To offset depreciation, a person may:

The cost approach is most appropriate for appraising:

The economic life of a frame dwelling is most nearly:

An appraisal is required:

Loss of value of an expensive home because of a neighborhood of low price homes is known as:

As to the appraisal of a single-family dwelling, which of the following is true?

A broker quotes an income figure based on 100 percent occupancy with no rental incentives given. The figure quoted is:

Two properties have an appraised value of $100,000 each. One uses a capitalization rate of 10 percent and one a rate of 11 percent. The property using the 11 percent rate has an income:

Each unit in a duplex rents for $400 per month. With a price of $96,000, the monthly gross multiplier would be:

Inappraising an income property, an appraiser is concerned with:

An apartment building produces a monthly rent of $1,600. A similar property with monthly rents of $2,100 recently sold for $294,000. Using this as the only data, the appraiser would say that the first apartment building is worth:

In appraising a house for insurance coverage, an appraiser would most likely be concerned with:

An accountant and an appraiser are both interested in depreciation.

In determining net income for use in the capitalization method of appraising, an appraiser would not be concerned with the:

A property is 40 years old. The present owner purchased it new and has depreciated it at 2 1/2 percent per year since the, leaving no allowance for salvage or land value. The building currently is appraised at $87,000, and the land under it is worth $200,000. The book value is:

The principle of anticipation relates to the:

Utility value would be most nearly equivalent to:

An appraiser would most likely have the designation:

In using comparables to determine value, you would add to the sale price of the subject property if:

A $200,000 new apartment house is to be depreciated over 40 years. The straight mortgage on it is due in 50 years for $100,000. The land is worth $10,000. When fully depreciated, the adjusted cost basis will be:

Corner influence can most aid the value of:

A property owner can protect against economic depreciation by:

Subtracting vacancy and collection factors from gross income gives:

The Home Valuation Code of Conduct must be subscribed to by:

The period in which a building produces income attributable to the building itself is known as:

Authorities say four agents contribute to gross income. Which of the following is not one of them?

The principle of substitution applies in:

Building a $200,000 home in a neighborhood of $70,000 to $100,000 homes is an example of:

Economic obsolescence would generally be considered:

Putting aside $1000 a year in govermnet bonds for five years to replace the roof is an example of:

Neighborhood is important in real estate because:

The cost that is most frequently over looked in determining net income for capitalization appraising is:

An appraiser would appraise an apartment house by:

In finding comparables, an appraiser uses the term adjusted sale price. This reffers to:

Which of the following cannot be depreciated?

The relationship between a property and a prospective purchaser is known as:

The appraisal principle that relates to the market approach to value is the principle of:

A warehouse has vertical support columns every 12 feet making it difficult to rent. This is an example of:

A lot 400 feet deep lost 20 percent of its depth. What is the effect of the loss in depth on the value of the lot?

A property is valued at $300,000 with a five percent capitalization rate. If the prospective investor wants an eight percent return on her money, the property would be valued at:

A major problem in using the cost method to appraise an older apartment building is:

Amenities are:

An example of unearned income would be:

The most difficult depreciation to correct would be:

An appraiser defines the boundaries of a neighborhood by:

A building would cost $140,000 to replace, but it is appraised at $90,000. This difference is:

By putting together four parcels of land, each worth $1,000. a property owner creates one large parcel worth $5,000. This process is known as:

Demand has no effect on value unless there is also:

Evaluation could be best described as:

In capitalization-of-income appraising, an appraiser need not consider management expenses when:

The principal of substitution is that:

Excess land is defined as land:

The definition of highest and best use would contain which of the following phrase?

Which one of these forces is not a force influencing value?

The comparison method of appraising is:

During an inflationary period, interest rates:

As to the replacement cost method of appraising, which of the following is true?

An eight year old apartment building would cost $220,000 to build today. The land is worth $50,000. With a 40 year expected economic life, its net income is $27,000. The gross multiplier is 10. The desired return on this type of property is 8 1/2 percent. Using the most appicable single method to appraise the building, an appraiser would say it is worth:

An appraiser is going to use the cost method in appraising two houses. One is new and one is 50 years old. The cost method:

An area that would most likely maintain its value would:

Functional obsolescence would not be caused by:

Progression and regression in appraisal relate to:

The replacement cost method of appraising:

Of the following reasons, which explains why replacement cost is better for new buildings than for old structures?

The most important factor in determining the value of a single family home is its:

Income minus operating expenses minus principal, interest, and tax payments equals:

A capital improvement to real property would:

The period for which a property can show a return attribute to the improvements is known as the property's:

Of greatest importance to the value of a single-family residence would be:

As to economic life and physical life, which of the following is true?

It would be unethical for an appraiser to:

The most important factor for the average buyer of a home is:

In using the market-data approach in appraising a single-familly residence, comparisons should be made as to:

An appraiser who is concerned with the present worth of future benefits is likely using the:

Assenblage is closest to:

In determining economic obsolescence, an appraiser would be interested in knowing whether:

Which of the following basic real economic characteristics is the best expression of why real estate has value?

Estimating a property's value based on its future income for specified number of years would be:

A lender would likely offer the lowest loan to value ratio loan on a loan secured by:

Capitalising the net income and deducting the replacement cost of the improvements gives:

The narrative form of an appraiser's report would include all except:

As to the income capitalization method of appraising, which of the following is true?

Depth tables would be used by:

In order to determine accrued depreciation of a residential property, each year of the economic age of a structure receives:

Value would be best described as:

Which of the following values is always based on the price paid?

To appraise a lot with a worthless, condemned building on it, an appraiser would:

A lot has three possible uses. Building a kennel would yield a net return of $87,000 on an investment of $65,000. Building an apartment house would yield a $211,000 return on a $2,552,000 investment, and building a supermarket would yeild $157,000 on an $520,000 investment. If the capitalization rate for all three investments is nine percent, then the investment that would yeild the highest income attributable to the land alone would be the:

Depreciating an apartment building $10,000 in one year would:

An appraisal is required for:

An appraiser would not obtain accelerrated depreciation by using:

The best comparable property for appraising a home would be:

The oldest method of appraising is:

Proper scientific appraisal can determine:

The most difficult aspect of utilizing the cost approach is in:

Depth tables would be most likely used in appraising which kind of property?

Cost presents a measure of ___ sacrifice either of materials of labor, and always represents a measure of ___ expenditure. Value, on the other hand, constitutes __ worths of future benefits.

Functional obsolescence can be created by:

An appraiser is to appraise a store zoned for retail business only. As a retail store, expected income is $1,500 per month, but the property is leased on a long term least at $2,000 per month to a tenant who is using the store as a dry cleaning plant in violation of the zoning. The appraiser should:

An appraiser might use the principal of substitution in the:

The value of a commercial lot would be least influenced by factors relating to:

The major factor in determining the value of industrial land is:

The least important factor in appraising a home for market value would be:

The  best appraisal would use:

A separate value for the land must be computed for the:

A property is 15 years old, but an appraiser puts an age of 7 years on it since it has been kept up like new. This is an example of:

The statement "more buildings are torn down than wear out" is a definition of:

Estimating rotal land value and adding the value of the improvemnts would:

In appraising a property with two baths, the appraiser used a comparable with 2 1/2 baths. The appraiser should:

An appraiser would appraise landscaping and fences:

In appraising a vacant lot, an appraiser would first determine the

The appraisal method that prices all labor and material in construction is:

Allocating a percentage of total value to the land and a percentage to the improvements is known as:

An appraisal method wherein electrical work was appraised at a price per outlet would be the:

Urban blight results from:

Such things as well-cared-for shrubbery and a fenced yard refer to:

Obsolescence would not include a:

Which value bears the least relationship to the market value?

The subjective value of a parcel is:

A building is in exceptionally good condition. Its effective age is:

The highest value would most likely be the:

An appraiser would be most interested in the:

The objective value of a parcel is most nearly:

Rising interest rates as the only economic change would affect the value of an apartment house in that the:

To obtain a listing, a broker agrees to make a free appraisal of the property. As to this appraisal agreement, which of the following is true?

The gross multiplier:

A real estate appraisal would customanily be:

A property value can be influenced by neighboring property. The value of a home would least likely be influenced by a neighborhood containing:

In appraisal of commercial property, the most important factor would be:

When the demand for homes remains constant and the supply:

An accountant would be primarily interested in:

Two identical buildings were each leased for 20 years at the same rent. One was leased as a hardware store and one as a post office. At a sale, which building would bring more money?

Which of the following is not a factor in appraising a one-family home?

Market value is best described as:

As to capitalization rates, which of the following is true?

In using the replacement-cost approach, an appraiser would not need:

Rents in an office building became $800 less per month after street parking was made illegal. Assuming a capitalization rate of eight percent, the building suffered a loss of value of:

A means of providing for return of your investment is:

In making an appraisal for a bank, an appraiser would be concerned with:

Which of the following does not influence value?

In appraising property with great amenity value, an appraiser would use:

To determine the highest and best use of a location, you should commence with:

The following are all good definitions of depreciation except:

The best method to appraise a leased warehouse would be:

Highest and best use refers to: