Valuation and Market Analysis

Demand being equal:

While the economy is experiencing inflation, interest rates:

Of the following, value is best described as:

Value is best described as:

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

Market value is determined by:

Of the following, which would most likely be the highest value?

Which of the following would most likely lower the value of a single-family residence?

When appraising a commercial property, an appraiser would be least interested in:

Which represents the four unities of market value?

In order for demand to be effective, it must be implemented by:

Which of the following is NOT one of the three great forces affecting value?

A $1,260,000 house, having been built among $700,000 to $900,000 homes, would eventually see its value go down. This influence on the value of the $1,260,000 house is known as:

Which of the following is an appraiser’s primary concern in the appraisal of residential property?

Offers to purchase by prospective buyers will tend to set:

In an appraisal, the term “utility value” would most nearly be described as:

The ultimate test of functional utility is:

The principle of “highest and best use” refers to the use:

Which would be considered economic obsolescence?

Any loss in value due to placing a building in an incompatible neighborhood would be an example of:

A flight pattern to a nearby airport was changed so that planes pass over a single-family residential neighborhood. Any loss in value to these properties would be attributed to:

Which of the following is an example of functional obsolescence?

A loss in value due to a city sewer system in poor condition would be classified as:

Economic obsolescence would be considered:

Wear and tear to the load bearing members of a building would be classified as:

Two different properties are located side-by-side in the same neighborhood. They were both built by the same contractor, at the same time, for the same cost, are maintained the same, and contain the same square footage. If one property is worth less than the other, it would be due to:

A four-bedroom house with a one-car garage would be an example of:

Evans owns a new personal residence. The transportation agency is widening the street in front of his residence. This will cause Evans to lose 10 feet along the front of his property which borders the street. This is an example of:

The period over which a property may be profitably utilized is called its:

The economic life of improved property is which of the following in relation to the physical life?

If a building is in exceptionally good condition, its effective age is:

The basic valuation principle underlying the market approach is:

The hardest and yet most important part of the market data method of appraising is:

In appraisal, the adjustment process whereby comparables are adjusted to the subject property is known as:

You are preparing a competitive market analysis on a vacant lot that you hope to list for sale. Which of the following approaches to value will be used in the development of the estimated value?

When using the market-data approach to appraise a single-family home, recent sales are compared to the subject property as to:

The subjective value of a property is the:

The objective value of a property is closest to:

Which of the following approaches to real estate appraisal is concerned with “the present worth of future benefits” of a property?

The income approach would NOT be used when appraising:

The most difficult step in applying the income approach in the appraisal of income property is:

When analyzing the income produced by a property, an appraiser is concerned with:

The principle of anticipation applies when using the:

An appraiser would determine the value of an apartment building by:

Capitalization is most closely related to:

Capitalization is a process whereby an appraiser:

The capitalization rate in the income approach provides for “return of” and “return on” the investment. “Return of” refers to:

If interest rates on loans increase, capitalization rates would tend to:

After capitalizing the net income of a property and then deducting the replacement cost of the improvements, an appraiser has established the:

Which of the following should be included when estimating the value of an income property using the capitalization approach?

To arrive at a capitalization rate in the appraisal of an income producing property, no provisions should be made for:

The most important economic consideration in relationship to land is:

Two buildings are located in the same area, of comparable size, both under long-term leases. One is leased to the government for a post office and the other for a hardware store. Using the income capitalization approach to appraise the properties, which of the following is correct?

Property that is very seldom sold would be appraised by which of the following appraisal techniques?

In the appraisal of residential property, the cost approach is most appropriate in the case of:

When using the cost approach, the appraiser may estimate the cost of reconstruction based on its “reproduction” cost or its “replacement” cost. “Reproduction” cost is:

An appraiser using the cost method can use the unit cost per square foot or per cubic foot in his/her computations. On a unit cost basis:

The quantity survey method, unit-in-place method, and square foot/cubic foot methods of real estate appraisal most directly relate to the:

Which of the following is the biggest problem in using the cost approach to appraise an older building?

Which of the following appraisal techniques requires a separate estimate for the value of the land?

Which of the following is true about the replacement cost method?

An appraisal under the cost approach method places the value of landscaping, fences and walkways:

A gross rent multiplier is obtained by:

Which of the following appraisal methods prices all labor and material in construction?

Which of the following is the best (or most common) appraisal method used to calculate replacement costs?

Amenities are:

A property with great amenity value would best be appraised by using the:

A corner lot would most likely add value to:

A cul-de-sac is which of the following?

An increase in value as a result of taking several small parcels and joining them together to form a larger parcel is called:

Which of the following is NOT a method of depreciation?

Putting aside money each year for five consecutive years to replace the roof is an example of:

Which of the following best identifies the three phases normally involved in a single-family dwelling?

An appraiser would most likely use a depth table when confronted with a valuation problem involving:

Which of the following appraisal reports is the most complete and detailed?

The increase of value with the passage of time describes:

Restoring an old home to its original condition without making any changes in the floor plan or style is referred to as:

An appraiser was hired by Williams to appraise Henderson’s property. With whom should the appraiser discuss his findings?

An appraiser is appraising a property which is next door to an abandoned gas station. The appraiser should recommend a:

What is a “fee appraiser?”

What part or portion of the narrative report contains the estimate of value?

As far as sales are concerned, the most important date on an appraisal is the:

What is the first step in the appraisal process?

A plot plan drawn by an architect is designed to:

A group of buildings developed in a line along the frontage of a main highway would most likely be a(n):

When referring to his development, a contractor mentions his elevation sheet. He is referring to:

What is a kiosk?

In order to find the architectural details of the footing, pier blocks, and sub-floor, a contractor or real estate broker would look at a(n):

The term “walk-up” refers to a(n):

Which of the following is NOT considered dry-wall construction?

Both buildings and neighborhoods alike generally exist in one of four life cycle stages; these are:

The framing members over windows and doors are called:

The parallel framing members under the flooring boards and in the ceiling are called:

What is the unutilized space between the floor and ground of a structure called?

The insects that are considered to be the most destructive to wood are:

The metal used by builders to prevent the seepage of water at certain joints in buildings is known as:

The word “percolation” deals with:

Insulation materials are rated by their effectiveness according to their “R-value.” The rating system is used to rate the material’s:

If the interior side of an exterior wall is the same temperature to the touch on a winter day as the interior adjacent wall, this would indicate:

The vertical structural support members are attached to the:

Because of roofing regulations regarding load factor,:

What are the units used to measure the length of a nail?

The spread part at the bottom of the exterior of the foundation in a single family dwelling is a:

Which of the following are known as artificial monuments?

Which of the following generally installs conduit?

A builder was going to build a home on a 75’ x 125’ lot and wanted it to fit in relation to its surroundings. This placement would be known as:

Which of the following is NOT a type of soil or a soil condition?

The person most likely to use a “bench mark” in his or her profession would be a:

Soil pipe is usually used for:

The higher the Energy Efficiency Ratio rating (EER),

A developer ordered two truckloads of backfill during the construction of a home. He ordered this for the purpose of:

B.T.U.’s would indicate:

A bearing wall:

The measurement or the length of road that abuts a thoroughfare is referred to as:

What is meant by the expression “turnkey project?”

Which of the following includes site plans, elevations drawings and street locations?

When subdividers evaluate the topography of land,

If the current highest and best use of a property is expected to change, the current use is referred to as the:

What kind of architectural style has lots of large windows, an open plan, easy access to outside, simplicity?

Which of the following is correct regarding the adjustment process for a Comparative Market Analysis (CMA)?