Real Estate Appraisal

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

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

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

An accountant would be primarily interested in:

Obsolescence would not include a:

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?

An area that would most likely maintain its value would:

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

When the demand for homes remains constant and the supply:

A property owner can protect against economic depreciation by:

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

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

The principle of anticipation relates to the:

Proper scientific appraisal can determine:

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:

Demand has no effect on value unless there is also:

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

An appraisal is required:

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:

The subjective value of a parcel is:

Corner influence can most aid the value of:

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

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

During an inflationary period, interest rates:

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:

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

The  best appraisal would use:

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

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

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

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

Assenblage is closest to:

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

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

Excess land is defined as land:

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

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

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:

It would be unethical for an appraiser to:

Highest and best use refers to:

A means of providing for return of your investment is:

A capital improvement to real property would:

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

The principal of substitution is that:

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

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:

The best method to appraise a leased warehouse would be:

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

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

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

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:

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.

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:

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

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:

A property value would be adversely affected by:

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

Actual rental income is best obtained by:

Amenities are:

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

The best comparable property for appraising a home would be:

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 value bears the least relationship to the market value?

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

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

Which of the following cannot be depreciated?

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

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

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:

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:

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

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

The replacement cost method of appraising:

An accountant and an appraiser are both interested in depreciation.

An appraiser might use the principal of substitution in the:

Value would be best described as:

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

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

The most difficult depreciation to correct would be:

Subtracting vacancy and collection factors from gross income gives:

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

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

An appraiser would appraise landscaping and fences:

The oldest method of appraising is:

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:

Progression and regression in appraisal relate to:

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

The highest value would most likely be the:

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

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

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

Utility value would be most nearly equivalent to:

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

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

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

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

Functional obsolescence can be created by:

The cost approach is most appropriate for appraising:

The gross multiplier:

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

The elements of value do not include:

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

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

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

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

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:

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

Market value is best described as:

An appraiser would most likely have the designation:

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

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

Economic obsolescence would generally be considered:

The economic life of a frame dwelling is most nearly:

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

The principle of substitution applies in:

Inappraising an income property, an appraiser is concerned with:

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

An appraiser would appraise an apartment house by:

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

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

Functional obsolescence would not be caused by:

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

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

Depth tables would be used by:

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

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

An appraiser would not obtain accelerrated depreciation by using:

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

An appraiser defines the boundaries of a neighborhood by:

To obtain depreciation on real estate, the real estate:

An appraiser would be most interested in the:

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

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

An example of unearned income would be:

A real estate appraisal would customanily be:

The conditions of sale will affect the:

The objective value of a parcel is most nearly:

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

Which of the following does not influence value?

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

The comparison method of appraising is:

An appraisal is required for:

Neighborhood is important in real estate because:

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

To offset depreciation, a person may:

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

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

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

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

Urban blight results from:

The following are all good definitions of depreciation except:

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

Evaluation could be best described as:

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