Real Estate Appraisal

The cost approach is most appropriate for appraising:

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:

The  best appraisal would use:

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

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

Highest and best use refers to:

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

Obsolescence would not include a:

An appraiser would appraise landscaping and fences:

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

A means of providing for return of your investment is:

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

Market value is best described as:

The best method to appraise a leased warehouse would be:

Functional obsolescence would not be caused by:

The comparison method of appraising is:

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

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

Which of the following does not influence value?

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:

Proper scientific appraisal can determine:

An appraiser would appraise an apartment house by:

A real estate appraisal would customanily be:

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

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

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

The elements of value do not include:

The subjective value of a parcel is:

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

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

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

Economic obsolescence would generally be considered:

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

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

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

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

Depth tables would be used by:

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

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

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

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

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

An appraisal is required:

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

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

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 principle of anticipation relates to the:

The economic life of a frame dwelling is most nearly:

A capital improvement to real property would:

Actual rental income is best obtained by:

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:

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:

An appraiser would not obtain accelerrated depreciation by using:

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

A property owner can protect against economic depreciation by:

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

The oldest method of appraising is:

Assenblage is closest to:

An appraiser might use the principal of substitution in 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:

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

Excess land is defined as land:

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

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

Value would be best described as:

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

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

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:

Progression and regression in appraisal relate to:

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

The gross multiplier:

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

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

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:

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

It would be unethical for an appraiser to:

The best comparable property for appraising a home would be:

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

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

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

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

Demand has no effect on value unless there is also:

To obtain depreciation on real estate, the real estate:

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

An accountant would be primarily interested in:

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.

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?

Utility value would be most nearly equivalent to:

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

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

Evaluation could be best described as:

Corner influence can most aid the value of:

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

To offset depreciation, a person may:

Amenities are:

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

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

Subtracting vacancy and collection factors from gross income gives:

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

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

An example of unearned income would be:

The most difficult depreciation to correct would be:

The replacement cost method of appraising:

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 appraiser would be most interested in the:

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

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

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:

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

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:

During an inflationary period, interest rates:

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

An appraisal is required for:

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 following are all good definitions of depreciation except:

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

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

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:

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

Neighborhood is important in real estate because:

Functional obsolescence can be created by:

Urban blight results from:

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

A property value would be adversely affected by:

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

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

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

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

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

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

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

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

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

The principle of substitution applies in:

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

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

An area that would most likely maintain its value would:

The principal of substitution is that:

The conditions of sale will affect the:

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

The highest value would most likely be the:

An accountant and an appraiser are both interested in depreciation.

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

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:

Which of the following cannot be depreciated?

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:

Inappraising an income property, an appraiser is concerned with:

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

An appraiser defines the boundaries of a neighborhood by:

An appraiser would most likely have the designation:

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

Which value bears the least relationship to the market value?

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?