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Real estate appraisal (any jurisdiction)
Real estate appraisal (any jurisdiction)
20 terms
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StudBud Administration
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Real estate appraisal questions suitable for any jurisdiction.
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
The first step to create an appraisal is to?
Report conclusions
Gather data
Determine scope of work
Define the problem
2
If cost manuals indicate a price per square foot of $135, how much will cost to build an 1800sf structure?
$289,000
$295,000
$243,000
$281,000
3
When an appraiser deducts vacancy and collection losses from gross income it is called?
Gross rents
Net operating income
Effective gross income
Potential gross income
4
The assemblage of two parcels of land to increase value is?
Conjoining
Plottage
Discombobulant
Assembly
5
In order to support and sustain itself, a marketplace must have?
A good mall
Economic base
A generous government
Curb appeal
6
What term is another name for the rebirth of a neighborhood?
Growth
Regentrification
Progression
Regression
7
An appraiser is imagining a use for a parcel of vacant land to determine which principle of value?
Principle of anticipation
Principle of change
Highest and best use
Substitution
8
The best approach for the appraisal of a single family residence is?
Income
Cost
BPO
Comparison
9
What is the investors rate of return if they purchased a property for $325,000 with NOI of $42,000? (round up)
13%
28%
9%
10%
10
A loss in value in a five bedroom house with one bathroom is?
Economic obsolecence
Functional obsolencence
External obsolecence
Physical deterioration
11
In order to evaluate a marketplace, USPAP would want the appraiser to use?
Uniform residential appraisal report form
Census collection form
Neighborhood data form
MLS data entry form
12
Which approach to appraisal is best for extremely unique buildings?
Comparison approach
Income approach
CMA
Cost
13
The test to determine how quickly water dissipates through the soil is?
Percolation test
Topography graph
Survey
Flood certification
14
Which of the following is not a principle of value?
Economic
Utility
Social
Government
15
The main driver of any market place is?
Contribution
Conformity
Anticipation
Supply and demand
16
Which describes the only constant in any market?
Contribution
Change
Highest and best use
Substitution
17
What unit of measurement would be used for concrete?
Square feet
Liniar feet
Cubic feet
Square yards
18
What do we call the guidlines adopted by the Appraisal Foundation?
FHA
USPAP
NAR
MAI
19
The probable price a property would bring in an arms length transaction is defined as?
Assesed value
Investor value
Market value
Insurance value
20
When I take the price a rental property sold for by its rent I get?
Gross Rent multiplier
Rate of Mills
The cap rate
Net opertating income
