Real Estate Appraisal

The objective value of a parcel is most nearly:

Functional obsolescence would not be caused by:

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

Depth tables would be used by:

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

The  best appraisal would use:

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

The subjective value of a parcel is:

Excess land is defined as land:

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

Progression and regression in appraisal relate to:

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

The gross multiplier:

Value would be best described as:

The economic life of a frame dwelling is most nearly:

The conditions of sale will affect the:

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

Proper scientific appraisal can determine:

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

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

A property owner can protect against economic depreciation by:

The best comparable property for appraising a home would be:

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

Market value is best described as:

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

The principal of substitution is that:

The best method to appraise a leased warehouse would be:

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

To obtain depreciation on real estate, the real estate:

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

Subtracting vacancy and collection factors from gross income gives:

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

Amenities are:

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

Which value bears the least relationship to the market value?

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

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

Demand has no effect on value unless there is also:

An appraiser defines the boundaries of a neighborhood by:

Functional obsolescence can be created by:

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

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

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:

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

Urban blight results from:

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 appraisal is required:

The principle of anticipation relates to the:

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

Assenblage is closest to:

Utility value would be most nearly equivalent to:

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

An appraiser would most likely have the designation:

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

As to the replacement cost method of appraising, 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:

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:

A real estate appraisal would customanily be:

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

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

A property value would be adversely affected by:

Obsolescence would not include a:

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

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?

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

The principle of substitution applies in:

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

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

The cost approach is most appropriate for appraising:

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

An accountant would be primarily interested in:

Inappraising an income property, an appraiser is concerned with:

An appraisal is required for:

An appraiser would appraise an apartment house by:

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

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:

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:

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

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

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

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

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

Economic obsolescence would generally be considered:

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

The most difficult depreciation to correct 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:

The comparison method of appraising is:

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

An accountant and an appraiser are both interested in depreciation.

An appraiser might use the principal of substitution in the:

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

It would be unethical for an appraiser to:

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?

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

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

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

Highest and best use refers to:

The elements of value do not include:

A capital improvement to real property would:

An appraiser would appraise landscaping and fences:

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.

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

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

The replacement cost method of appraising:

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

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

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:

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

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:

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?

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

A means of providing for return of your investment is:

The highest value would most likely be the:

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

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

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

An example of unearned income would be:

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

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

Actual rental income is best obtained by:

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

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

Neighborhood is important in real estate because:

Evaluation could be best described as:

During an inflationary period, interest rates:

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

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

Which of the following does not influence value?

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 following are all good definitions of depreciation except:

Which of the following cannot be depreciated?

An appraiser would not obtain accelerrated depreciation by using:

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

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

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

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

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

The oldest method of appraising is:

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?

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

When the demand for homes remains constant and the supply:

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

Corner influence can most aid the value of:

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

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

An appraiser would be most interested in the:

To offset depreciation, a person may: