5
6
7
8
9
100
The measure of the effectiveness of insulation is its a. R-value. b. BTUs. c. grade. d. standard.
What is R-value.
100
The period from the date of appraisal in which a building should be useful for its originally intended purpose is its a. remaining economic life. b. effective age. c. physical life. d. useful life.
What is remaining economic life.
100
A property is described in a deed as the S 1/2 of the SW 1/4 of the NW 1/4 of section 4. How many acres does the parcel contain? a. 80 b. 640 c. 20 d. 40
What is 20
100
House A sold recently for $287,000; house B sold recently for $296,000. the properties are very similar, except that house B has a swimming pool. What difference in value could be attributed to the presence of the swimming pool? a. The pool's depreciated replacement cost. b. The pool's full replacement cost. c. $9,000. d. None of the above.
What is $9,000.
100
The ratio of land value to building value is used when estimating site value by the a. sales comparison method. b. allocation method. c. subdivision development method. d. land residual method.
What is allocation method.
200
The overhang of a pitched roof that extends beyond the exterior walls of the building is called the a. gusset. b. eave. c. fascia board. d. collar beam.
What is eave.
200
In the income capitalization approach, property value is treated as a function of a. original construction cost. b. net operating income. c. depreciation. d. sales prices of comparable properties.
What is net operating income.
200
What ratio results when the sales price of a property is divided by its gross monthly unfurnished rental? a. Net operating income. b. Gross rent multiplier. c. Operating sales ratio. d. Rent coverage ratio.
What is Gross rent multiplier.
200
A house comparable to the subject property sold recently for $134,000 and is very similar to the subject, except the comparable has an extra half-bath, valued at $3,600. What is the adjusted value of the comparable? a. $130,400 b. $137,600 c. $133,640 d. None of these.
What is $130,400
200
A separate land valuation is required in the a. land residual technique. b. building residual technique. c. allocation method. d. abstraction method.
What is building residual technique.
300
Rights, benefits and improvements that go with the land are a. appurtenances. b. encumbrances. c. chattels. d. emblements.
What is appurtenances.
300
A building that has an effective gross income of $75,000 and total operating expenses of $12,000 has a net ratio of a. .16 b. .0625 c. .84 d. .19
What is .84
300
A building permit and land survey are a. direct costs of construction. b. indirect costs of construction. c. not pertinent in using the cost approach. d. None of the above.
What is indirect costs of construction.
300
A feature that is present in the subject property and not present in a comparable property will mean what kind of price adjustment? Addition. Subtraction. Multiplication. Division.
What is Addition.
300
The value of all improvements (less depreciation) is subtracted from total sales price to find site value in the a. sales comparison method. b. allocation method. c. abstraction method. d. capitalization method.
What is abstraction method.
400
The legal right to pass over land owned by a neighbor is an a. encroachment. b. exemption. c. easement. d. estate in land.
What is easement.
400
Which appraisal approach would normally carry the most weight in valuing a strip shopping center? a. Sales comparison. b. Cost. c. Income capitalization. d. Gross rent multiplier.
What is Income capitalization.
400
Using all three approaches to value and assigning different weights to each approach is known as a. summary. b. recapitulation. c. averaging. d. reconciliation.
What is reconciliation.
400
In using the sales comparison method, adjustments are always applied to the a. sales price of the comparable. b. value of the subject. c. Both a and b. d. Neither a nor b.
What is sales price of the comparable.
400
The formula, property net income less building net income equals land net income, is used in estimating site value by the method known as a. sales comparison. b. allocation. c. subdivision development. d. land residual.
What is land residual.
500
If office space similar to that being appraised has a typical construction cost of $68.50, and the regional multiplier for the area is 1.12, what is the estimated construction cost of office space of 25,000 square feet? a. $1,918,000 b. $1,712,500 c. $1,932,000 d. $1,529,018
What is $1,918,000
500
The annuity factor for an interest rate of 10% over an investment period of 20 years is 8.514. For annual income of $30,000 on those terms, what amount must be invested. a. $352,361 b. $330,000 c. $205,400 d. $255,420
What is $255,420
500
Income attributable to land rent that remains after the expenses of ownership are deducted, is referred to as a. surplus productivity. b. opportunity cost. c. operating income. d. capital investment.
What is surplus productivity.
500
Fee simple ownership could include ownership interest in all of the following except a. property owned as a joint tenant. b. a condominium. c. leasehold rights of a tenant. d. property owned as tenants in common.
What is leasehold rights of a tenant.
500
The formula, land net income divided by land capitalization rate equals land value, is used in estimating value by the method known as a. sales comparison. b. allocation. c. subdivision development. d. land residual.
What is land residual.
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