Real Estate Appraisal

The oldest method of appraising is:

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

An example of unearned income would be:

Assenblage is closest to:

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

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

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:

During an inflationary period, interest rates:

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

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

An accountant and an appraiser are both interested in depreciation.

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

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

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

Corner influence can most aid the value of:

A property owner can protect against economic depreciation by:

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

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

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

Which of the following cannot be depreciated?

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

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

Depth tables would be used by:

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

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

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

The principle of anticipation relates to the:

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

The  best appraisal would use:

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

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

The following are all good definitions of depreciation except:

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

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:

Market value is best described as:

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

An appraiser might use the principal of substitution in the:

Demand has no effect on value unless there is also:

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:

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

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

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

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

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

An accountant would be primarily interested in:

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

The elements of value do not include:

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

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

A property value would be adversely affected by:

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

Evaluation could be best described as:

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

Functional obsolescence can be created by:

The highest value would most likely be the:

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 property with great amenity value, an appraiser would use:

An appraiser would appraise landscaping and fences:

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

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

The gross multiplier:

Functional obsolescence would not be caused by:

An appraiser would be most interested in the:

An appraisal is required:

The conditions of sale will affect the:

Excess land is defined as land:

The cost approach is most appropriate for appraising:

The comparison method of appraising is:

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

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

When the demand for homes remains constant and the supply:

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:

Which value bears the least relationship to the market value?

The economic life of a frame dwelling is most nearly:

An appraiser would not obtain accelerrated depreciation by using:

A real estate appraisal would customanily be:

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

A capital improvement to real property would:

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?

An appraisal is required for:

An appraiser would appraise an apartment house by:

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

The principal of substitution is that:

Value would be best described as:

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

To offset depreciation, a person may:

Economic obsolescence would generally be considered:

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

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

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

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

An appraiser would most likely have the designation:

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

Utility value would be most nearly equivalent to:

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.

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

The principle of substitution applies in:

Neighborhood is important in real estate because:

The replacement cost method of appraising:

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

Obsolescence would not include a:

The most difficult depreciation to correct would be:

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

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

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

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

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

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

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:

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:

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 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:

Actual rental income is best obtained by:

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

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

Inappraising an income property, an appraiser is concerned with:

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

The subjective value of a parcel is:

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

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

Urban blight results from:

To obtain depreciation on real estate, the real estate:

Highest and best use refers to:

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

Progression and regression in appraisal relate to:

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

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

The objective value of a parcel is most nearly:

Proper scientific appraisal can determine:

The best comparable property for appraising a home would be:

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

A separate value for the land must be computed for 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?

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 best method to appraise a leased warehouse would be:

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

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

Which of the following does not influence value?

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

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:

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

An area that would most likely maintain its value would:

Amenities are:

Subtracting vacancy and collection factors from gross income gives:

A means of providing for return of your investment is:

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

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