Frage 1
Frage
The greatest possible degree of ownership in real property is
Antworten
-
Fee Simple
-
Estate at Will
-
Estate for Years
-
Life Estate
Frage 2
Frage
What type of ownership has definite rights of survivorship?
Antworten
-
Joint tenancy
-
Tenancy in common
-
Severalty
-
Life Estate
Frage 3
Antworten
-
A prediction of the sales price
-
An estimate of value
-
An estimate of sales price
-
A mathematically precise forecast of value
Frage 4
Frage
The boundary of a neighborhood might logically be set at
Antworten
-
Jurisdictional boundaries
-
Well sharp change in economic benefits
-
A sharp change in economic benefits
-
All of these answers are valid.
Frage 5
Frage
Of the four essential elements of value, which of the following must be coupled with purchasing power?
Antworten
-
Demand
-
Wantedness
-
Scarcity
-
Utility
Frage 6
Frage
Of the following conditions, which is most likely to cause the price to be different from the value.
Frage 7
Frage
The bundles of rights includes
Antworten
-
The right to occupy, exclude others, or to sell
-
The right to borrow against
-
The right to convey by inheritance
-
All of these answers are valid
Frage 8
Frage
When the title to property reverts to the state because the owner left no will or heirs, it is because of the government's right of
Antworten
-
Reversion
-
Remainder
-
Eminent domain
-
Escheat
Frage 9
Frage
When should property be reappraised?
Frage 10
Frage
Which of the following are private rather than public limitations to property rights?
Antworten
-
Zoning
-
Health and safety laws
-
Right to tax
-
Deed restrictions
Frage 11
Frage
Controls that arise from the government's police power include all except which of the following?
Frage 12
Frage
The Petersons found a home they like very much but decided not to buy it after learning the price. Their reasoning was probably based on principle of:
Antworten
-
Anticipation
-
Highest and best use
-
Change
-
Substitution
Frage 13
Frage
A home which cost $150,000 is surrounded by homes priced substantially higher. Which principle would be most applicable to the $150,000 in a current appraisal?
Antworten
-
Substitution
-
Contribution
-
Progression
-
Regression
Frage 14
Frage
Which statement is not true?
Antworten
-
Value of property depends on the expectations of buyers and sellers.
-
An appraisal is a supportable estimate of value as of a particular date
-
It is not necessary to analyze market data for a letter report
-
Value is not based on the amount of sales commission.
Frage 15
Frage
An appraisal may be necessary to establish a value for:
Frage 16
Frage
When a very expensive home is built in a neighborhood of small modest homes, the results will most likely be:
Antworten
-
Increase the value of the smaller homes
-
Decrease the value of the more expensive home
-
Increase the value of the more expensive home
-
Not exert any influence on housing values in the neighborhood
Frage 17
Frage
The value of a property tends to be set by the cost of acquiring an equally desirable property. This is a statement of the principle:
Antworten
-
Substitution
-
Balance
-
Competition
-
Appraisal
Frage 18
Frage
The interaction of supply and demand factors in real estate markets:
Antworten
-
Adjust demand to supply
-
Creates value and sets price
-
Causes demand to decrease as the supply dwindles
-
Is highly predictable, allowing the appraiser to predict the future housing needs with near certainty
Frage 19
Frage
The first step in the appraisal process is to:
Frage 20
Frage
Which appraisal principle states that economic factors outside the property may have a positive or negative effect on the property's value?
Antworten
-
Anticipation
-
Substitution
-
Contribution
-
Externalities
Frage 21
Frage
What term is used to explain the appraisal principle that states the value of a property is influenced by its being in harmony with the surrounding properties?
Antworten
-
Substitution
-
Conformity
-
Anticipation
-
Contribution
Frage 22
Frage
Which of the following statements is incorrect in regard to a life estate?
Antworten
-
It may be leased
-
It may be sold
-
It may be mortgaged
-
It is inheritable
Frage 23
Frage
A land use that existed before a certain zoning district was established and is currently not consistent with the restrictions imposed on land uses in that district is referred to as a:
Antworten
-
variance
-
nonconforming use
-
transitional use
-
planned unit development
Frage 24
Frage
The process of a local government in exercising its power of eminent domain is known as:
Antworten
-
police power
-
condemnation
-
escheat
-
urban renewal
Frage 25
Frage
Which of the following rights of government is based on police power?
Antworten
-
Eminent domain
-
Taxation
-
Escheat
-
Zoning
Frage 26
Frage
What term is used to describe the value to a typical buyer?
Antworten
-
Market value
-
Investment value
-
Sale value
-
Use value
Frage 27
Frage
When appraising property the appraiser must appraise the appraisal unit which is:
Frage 28
Frage
The legal right of government to acquire private property for a public use or purpose with just compensation is known as:
Antworten
-
Police power
-
Eminent domain
-
Condemnation
-
Escheat
Frage 29
Frage
What term is used for a transaction in which all parties to the transaction are dealing from equal bargaining positions?
Antworten
-
Anticipation
-
Third Party market
-
Open market
-
Secondary market
Frage 30
Frage
Which statement is true about the relationship between the market value of a property and its sales price at the time of the property sold?
Antworten
-
They are the same at that point in time
-
The price will always exceed market value
-
The market value will always exceed the price
-
The price could be more or less than the market value depending on the motivations of the buyer and seller and details of the transactions
Frage 31
Frage
A study of the supply and demand conditions in a specific area is referred to as:
Antworten
-
Assemblage
-
Projection analysis
-
Economic base
-
Market analysis
Frage 32
Frage
In considering the highest and best use of a parcel of land to be improved with an office building, the appraiser determines the optimal land and building increments for the parcel. Which of the following economic principles does this illustrate:
Antworten
-
Anticipation
-
Balance
-
Contribution
-
Substitution
Frage 33
Frage
Which of the following principles best describes the effect of an international airport on the value of a nearby residential subdivision?
Antworten
-
Substitution
-
Highest and best use
-
Externalities
-
Conformity
Frage 34
Frage
Which of the following best describes what an appraiser does in rendering an opinion of value for tract of land?
Antworten
-
Determines value
-
Calculate value
-
Estimates value
-
Predicts value
Frage 35
Frage
The primary reason an appraiser analyzes a neighborhood is to:
Antworten
-
Identify the area of a zoning map
-
Identify and evaluate factors that may influence property values
-
Satisfy requirements of tax law
-
Determine assessed value for tax purposes
Frage 36
Frage
The process by which the appraiser correlates the indicators of value into a final estimate of the defined value is known as:
Antworten
-
Averaging
-
Reconcilitation
-
Capitalization
-
Recapitulation
Frage 37
Frage
Poor room arrangement is an example of:
Frage 38
Frage
In which case is it best to use cost approach?
Antworten
-
Improvement is new or in its early life
-
Improvement is middle age
-
Improvement is late in life
-
Only when none of the approaches apply
Frage 39
Frage
When the improvement is new and represents highest and best use, the upper limit of real property value is usually found by the:
Frage 40
Frage
How many acres are there in the parcel of land described below?
"The SW 1/4 of the SE 1/4 of the NW 1/4, and the SW 1/4 of the NW 1/4 of Section 20"
Frage 41
Frage
Residential lots are often described by reference to their relation to streets and surrounding lots. Which of the following has the least thru-traffic?
Antworten
-
Corner
-
Inside or interior
-
Cul-de-sac
-
T-intersection
Frage 42
Frage
The area of a township is:
Antworten
-
1 mile square
-
6 square miles
-
36 square miles
-
27,878,400 square feet
Frage 43
Frage
Which of the following would you consider to be external obsolescence?
Frage 44
Frage
The type of depreciation that is considered to be nearly always incurable is:
Antworten
-
Physical depreciation
-
External obsolescence
-
Functional obsolescence
-
Accrued depreciation
Frage 45
Frage
Of the following property defects, which is least likely to be curable?
Antworten
-
Deferred maintenance
-
Misplaced improvements
-
Lack of built-ins
-
Inadequate bathrooms
Frage 46
Frage
As contrasted with the term "reproduction cost," "replacement cost" refers to:
Antworten
-
The cost of constructing a building that will be one of like utility as the one being appraised
-
The cost of constructing a replica building
-
The cost of reproducing the subject building
-
None of these
Frage 47
Frage
"Effective" age most nearly means:
Frage 48
Frage
When measuring for living or floor area, the appraiser uses:
Antworten
-
Outside measurements including wall thickness
-
Outside wall measurements excluding wall thickness
-
Interior measurements only
-
None of these
Frage 49
Frage
Construction classification refers to the:
Antworten
-
Type of use or occupancy
-
Type of basic frame, wall, floor and roof construction
-
The quality of construction
-
Number of stories in a building
Frage 50
Frage
The three methods of legal description for real estate are:
Antworten
-
Metes and bounds; subdivision; rectangular survey
-
Lot, block and tract; base line and meridian; Government survey
-
Metes and bounds; rectangular survey; government survey
-
Metes and bounds; government survey; lot, block and tract
Frage 51
Frage
The process of reconciliation involves:
Antworten
-
Averaging the closest estimates of value
-
Giving an average to each approach used
-
Primary consideration to the most reliable approach
-
Averaging all approaches, giving each equal weight
Frage 52
Frage
A particular improvement being appraised is known to have cost $122,000 in 1976, Your construction cost index indicates that today's costs are 58% higher. What is the indicated reproduction cost today?
Antworten
-
$42,000
-
$172,000
-
$192,760
-
None of these
Frage 53
Frage
A means by which land is specifically and definitely located is known as a:
Frage 54
Frage
Which of the following is true?
Antworten
-
The bundle of rights is indivisible
-
Zoning is one example of a government restriction
-
Deed restrictions are examples of government controls placed on real estate
-
Property ownership rights are absolute
Frage 55
Frage
Which approach to value is considered to be the most direct?
Frage 56
Frage
The cost approach is more reliable when appraising
Antworten
-
Developed housing
-
Income properties
-
Older houses
-
New improvements
Frage 57
Frage
The typical appraisal assignment is to appraise
Antworten
-
The "fee simple" ownership
-
The value of the mining rights
-
The value subject to an existing loan
-
The leased fee
Frage 58
Frage
The cost approach is generally unreliable in the appraisal of older buildings because
Antworten
-
Original cost figures are not available
-
Depreciation is difficult to estimate
-
Good locations maintain high values
-
Too much write-off has been taken
Frage 59
Frage
In the cost approach, value is estimated by:
Antworten
-
Adding estimated depreciated cost new of the improvements to the estimated depreciated site value
-
Adding estimated cost new of the improvements to the estimated depreciated site value
-
Adding estimated depreciation cost new of the improvements to the estimated site value
-
Adding the estimate cost new of the improvements to the estimated site value
Frage 60
Frage
The replacement cost method most commonly used is:
Antworten
-
Square foot
-
Segregated cost
-
Cubic foor
-
Quantitative survey
Frage 61
Frage
An item of accrued depreciation is curable if the cost to cure is not greater than the:
Frage 62
Frage
An example of functional obsolescence is:
Frage 63
Frage
A curable item of depreciation is:
Frage 64
Frage
If the site value is indicated to be $80,000 of the total value in a particular neighborhood, how much improvement value would allocated from a $200,000 sale of a single family home?
Antworten
-
$120,000
-
$8,000
-
$80,000
-
$200,000
Frage 65
Frage
A prospective use that represents the "Highest and Best Use" of the land must be:
Frage 66
Frage
The orderly plan of action in the appraisal of real property is known as which of the following?
Frage 67
Frage
As it used in appraising, the term "reconciliation" means
Antworten
-
The process of analyzing comparable rental properties and establishing a gross rent multiplier
-
The process of bringing together all of the sales in the area and analyzing them
-
The process of bringing together the values indicated by each approach so that the appraiser can form an opinion about the value of the subject property
-
The process of determining value by referring to the highest sales that have occurred in the neighborhood
Frage 68
Frage
For which of the following types of property is "price per acre" the term most often used as a unit of comparison for estimating the land value?
Antworten
-
Dairy farm
-
Site for six-unit apartment
-
Site for a 4,800-square foot office
-
All these answers are valid
Frage 69
Frage
The principle of substitution can be applied to
Frage 70
Frage
In the rectangular survey system a legal description describing, one quarter of a section contains
Frage 71
Frage
A vacant lot measures 200 feet by 381 feet. What is its estimated worth if the land is valued at $20,000 per acre?
Antworten
-
$20,000
-
$28,000
-
$33,500
-
$35,000
Frage 72
Frage
Excess land is land that is:
Antworten
-
not as valuable because it is not necessary to accommodate a site's highest and best use
-
valuable, possesses significant utility and not needed to support existing improvement
-
always used for expansion of the existing impovement
-
not included in the estimated value of the property
Frage 73
Frage
The term "plottage" refers to:
Antworten
-
value created by land that is not necessary for the primary improvements but is part of the economic unit
-
an increment of value that results when two or more sites are combined under single ownership
-
the results of a survey that is plotted on a map
-
none of these answers are correct
Frage 74
Frage
A lot measuring 130 by 200 feet recently sold for $71,500. What was the selling price per square foot?
Antworten
-
$550.00
-
$357.50
-
$2.75
-
$5.50
Frage 75
Frage
A house has a living area of 1,900 square feet. An attached garage has a total area of 420 square feet. The building has an expected life of 50 years and an effective age of five years. The lot is worth $15,000. If it costs $50 to reproduce the living area and $25 to reproduce the garage on a square foot basis, what is the indicated value of property?
Antworten
-
$94,950
-
$105,500
-
$109,950
-
$120,500
Frage 76
Frage
The proximity of a parcel of land to a supporting land use is referred to as:
Antworten
-
Location quotient
-
Linkage
-
Highest and best use
-
Land efficiency
Frage 77
Frage
Which statement is true?
Antworten
-
Value of property depends on the expectations of buyers and sellers
-
An appraisal is a supportable estimate of value as of a particular date
-
It is necessary to analyze market data for an appraisal report
-
All are true
Frage 78
Frage
Owner A gives owner B an easement across A's land to shorten the distance B has to travel to reach land he owns. The land B owns has benefited by the easement and is known as the:
Antworten
-
Dominant estate
-
Servient estate
-
Lien estate
-
Estate in gross
Frage 79
Frage
A parcel of land 440 feet by 792 feet contains how many acres?
Frage 80
Frage
The description of the surface features of a parcel of land such as elevation or drainage is known as its:
Antworten
-
Location
-
Plottage
-
Topography
-
Restrictive covenant
Frage 81
Frage
Which statement is true about the relationship between the market value of a property and its sales price at the time the property sold?
Antworten
-
They are the same at that point in time
-
The price will always exceed market value
-
The market value will always exceed the price
-
The price could be more or less than the market value depending on the motivations of the buyer and seller and details of the transaction
Frage 82
Frage
Which of the following land is generally not considered income property?
Antworten
-
Hotels
-
Undeveloped land
-
Office buildings
-
Apartment buildings
Frage 83
Frage
The houses in a neighborhood under study were all built around 20 years ago. Most are owner occupied and well maintained. In all likelihood, the neighborhood is in:
Antworten
-
The development phase
-
The stable phase
-
Decline phase
-
Rehabilitation phase
Frage 84
Frage
Appraisers study real estate markets in order to
Antworten
-
Identify changing price trends
-
Evaluate market reaction to property differences
-
Evaluate the strength of various economic forces
-
All these answers are valid
Frage 85
Frage
Maximum value results where properties in neighborhood are relatively similar. Select the principle which most applies:
Antworten
-
Anticipation
-
Highest and best use
-
Conformity
-
Change
Frage 86
Frage
Value is the present worth of future benefits, according to the principle of:
Antworten
-
Contribution
-
Highest and best use
-
Anticipation
-
Surplus productivity
Frage 87
Frage
The grantor is the:
Antworten
-
Buyer
-
Seller
-
Renter
-
Lender
Frage 88
Frage
Which of the following is not an agent of production?
Antworten
-
Land
-
Taxes
-
Capital
-
Entrpreneurship
Frage 89
Frage
The principle of increasing and decreasing returns says that maximum value results from adding to agents of production
Antworten
-
As long as you can afford to do it
-
To meet the competition
-
Until they are in balance
-
As long as the total net return increases
Frage 90
Frage
The four elements which create value are:
Antworten
-
Scarcity, demand, utility, capacity to private ownership
-
Utility, scarcity, supply, capacity to private ownership
-
Effective demand, immobility, durability, exclusivity
-
Supply, utility, desire, fixed location
Frage 91
Frage
The limitation on fee simple absolute property rights are:
Antworten
-
Taxation, eminent domain, police power, liens
-
Taxation, police power, easements, escheat
-
Taxation, eminent domain, police power, escheat
-
Taxation, police power, escheat, liens
Frage 92
Frage
If the demand for homes remains constant and the supply:
Antworten
-
Decreases, the value will increase
-
Remains constant, the value will decrease
-
Remains constant, the value will increase
-
Increases, the value will increase
Frage 93
Frage
An appraisal report can be
Frage 94
Frage
When making an appraisal for property tax purposes the appraiser is to appraise the property at:
Frage 95
Frage
Which economic principle is indicated by the statement, potential buyers of property consider prices paid for similar properties?
Antworten
-
Conformity
-
Substitution
-
Highest and best use
-
Increasing returns
Frage 96
Frage
Which of the following is a true statement concerning the accessability of manufactured homes?
Antworten
-
Manufactured homes purchased new after July 1, 1980 are subject to assessment for property taxes
-
Manufactured homes purchased new before July 1, 1980 are subject to assessment for property taxes
-
Manufactured homes not anchored to permanent foundation are exempt from property taxes
-
All manufactured home accessory structures are exempt from property taxes
Frage 97
Frage
Residential percent good tables provide the most reliable adjustments to replacement cost estimates of which of the following:
Antworten
-
Residences constructed prior to 1940
-
Residences whose maintenance is typical of others of the same age
-
Residences located in non-urban areas
-
Wood frame structures
Frage 98
Frage
An agreement between the buyer and the seller on the asking price of a property is:
Antworten
-
Always assumed to be market value
-
Market value when similar properties are selling for this amount
-
Never the market value
-
The market value only when the lender also agrees
Frage 99
Frage
A commercial lot 50 feet wide and 150 feet deep just sold for $70,000 cash. The sale price per front foot comes to:
Frage 100
Frage
The price paid for a property sold under conditions of duress most likely will represent:
Antworten
-
A reliable indicator of value of similar properties
-
A reliable indicator of value of sold properties only
-
An unreliable indicator of value of similar properties and the sold property
-
An unreliable indicator of value of the sold property
Frage 101
Frage
The presumption that the market value of a property will conform to that sales price of close substitutes is based upon the:
Frage 102
Frage
Two identical properties have recently sold, one for $60,000 and the other $55,000. Both sales appear to meet the conditions of a market value sale. The proper conclusion for you to draw is that:
Antworten
-
Prices should be averaged to arrive at market value sale
-
The highest price is the only one meeting the definition of value
-
Both prices may be within the band of value
-
None of these answers are correct
Frage 103
Frage
Generally the rights to be appraised for property tax purposes are:
Antworten
-
The fee-simple rights
-
Not subject to government limitations
-
Only those held by the owner of record
-
All of these answers are valid.
Frage 104
Frage
Replacement cost, as used in the field of appraisal, may be defined as the cost, as of the date of:
Antworten
-
Appraisal, of replacing the existing improvement with an exact utility replica
-
Appraisal, of replacing the existing improvement with one of like utility
-
Construction, of replacing the existing improvement with an exact replica
-
Construction, of replacing the existing improvement with one of like utility
Frage 105
Frage
Satisfactory application of the appraisal process permits the appraiser to:
Antworten
-
State an opinion of value at the beginning of the process
-
Withhold the value decision until the making an analysis of the separate value indicators
-
By-pass the steps when the sales price of the subject seems reasonable
-
Base the value decision on the average of the separate value indicators
Frage 106
Frage
Which of the following procedures would be most valid in the market approach when comparing houses with normal size differences:
Antworten
-
Apply the average price per square foot derived from sales
-
Apply the median price per room derived from sales
-
Adjust each comparable sale by dollar amount derived from sales for size difference
-
Use the average price paid for total property unit
Frage 107
Frage
Which of the following categories of depreciation cannot be cured by the property owner:
Frage 108
Antworten
-
An unincorporated town located in rule area
-
A geographical area that contains 36 square miles
-
A geographical area that contains one 36 square mile
-
The six mile wide strip that runs parallel to the prime meridian
Frage 109
Frage
In the replacement cost approach, representative costs should reflect:
Antworten
-
The costs of the most efficient builders in the area
-
Cost dictated by local representatives of the Carpenter's Union
-
The costs of typical builders who are doing the bulk of the work in the area
-
A statistical sample of construction costs in the area
Frage 110
Frage
Lannie and Carol bought a homesite several years ago. It remained vacant until this year when they built and coccupied a new home. How should the assessor treat the property?
Antworten
-
Appraise the new building; reappraise the land
-
Appraise the new building; do not reappraise the land
-
Do not appraise the new building; reappraise the land
-
Do not appraise the new building
Frage 111
Frage
Property tax laws permit the preparation of current market value appraisals under which of the following circumstances?
Antworten
-
Only if the property experiences a change in ownership, new construction or becomes less valuable than the base year value
-
Only if the property experiences a change in ownership or new construction
-
Only if the property experiences a change in ownership
-
Only if the property experiences new construction
Frage 112
Frage
The definition of personal property as defined in the Revenue and Taxation Code:
Antworten
-
All property except real estate
-
Only property capable of being moved
-
Only property that can be assessed on the unsecured roll
-
All of these answers are valid.
Frage 113
Frage
The California Constitution provides that:
Antworten
-
All property is taxable
-
All property is taxable except for unsecured personal property
-
All property is taxable except for disabled veteran's homes
-
All property is taxable unless otherwise provided
Frage 114
Frage
The analysis of an apartment neighborhood indicates that income expectations have been adversely affected by closing a large industrial plant. This is an example of depreciation:
Antworten
-
Due to functional obsolescence
-
Due to physical deterioration
-
Due to economic obsolescence
-
All of these answers are valid
Frage 115
Frage
The term "Unit appraisal" refers to:
Antworten
-
Appraisal of the unit of property commonly traded in the market
-
Separate appraisal of the units of land, improvements, and personal property
-
Appraisal of all assessable property within the same ownership unit
-
Appraisal of property that comprises one assessment
Frage 116
Frage
The reactions of people in the market toward real estate are different from many other commodities because:
Antworten
-
Real estate is immobile
-
The nature of the real estate market is different
-
Benefits of real estate are yielded over a longer period of time
-
All of these answers are valid
Frage 117
Frage
Land value can be estimated by:
Antworten
-
Vacant land sales
-
Capitalization of ground rents
-
Land residual capitalization technique
-
All of these answers are valid
Frage 118
Frage
What would be the documentary transfer tax on all cash sale of $65,000?
Antworten
-
$71.50
-
$65.00
-
$650.00
-
$715.00
Frage 119
Frage
If a documentary transfer tax of $275.00 is paid, what is the indicated price of the sale assuming cash to a new loan?
Antworten
-
$275,000
-
$302,000
-
$250,000
-
$200,000
Frage 120
Frage
One of the basic assumptions of Income Approach is that:
Antworten
-
Value is a function of income
-
Expense for management in a large building is more
-
The market approach should agree with the Income approach
-
None of the answers are correct
Frage 121
Frage
A house is rented unfurnished for $500 per month. Using the gross rent multiplier method, the appraiser estimated the value of the property to be $80,000. What monthly gross rent multiplier did he use?
Frage 122
Frage
If the appropriate monthly gross rent multiplier is 180 and the monthly rental is $600, what is the indicated value of the subject property?
Antworten
-
$160,000
-
$180,000
-
$108,000
-
$110,000
Frage 123
Frage
The maximum earnings of a property based on economic rent is:
Antworten
-
Effective gross income
-
A long term annuity
-
A reversionary right
-
Gross income
Frage 124
Frage
An apartment has a schedule gross of $140,000 per year. Vacancy and collection loss is 5%. Other expenses will amount to $47,000 per year. Using a gross rent multiplier of 8 will result in an appraisal of:
Antworten
-
$1,064,000
-
$1,120,000
-
$688,000
-
$1,075,000
Frage 125
Frage
How many acres are in the S 1/2 of the SW 1/4 of section 12.
Antworten
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4 acres
-
40 acres
-
10 acres
-
80 acres
Frage 126
Frage
When a property's highest and best use can reasonably be expected to change in the near future, the prevailing highest and best use is referred to as a(n):
Antworten
-
interim use
-
temporary use
-
secondary use
-
current use
Frage 127
Frage
An office building has a leasable area of 45,000 square feet. It's current reproduction cost is $65 per square foot. The building is on one acre of land. Comparable land cost $17 per square foot. The building has suffered $40,000 depreciation. What is the total value of the property using the cost approach?
Antworten
-
$740,520
-
$2,885,000
-
$3,625,520
-
$3,665,520
Frage 128
Frage
What information is not needed to apply the building residual technique?
Frage 129
Frage
After freeway construction, the volume of business on a street decreased by 50%.This can be considered as:
Antworten
-
Functional obssolescence
-
Poor smog controls
-
Poor urban planning
-
External obsolescnce
Frage 130
Frage
The principle of anticipation can be applied to
Frage 131
Frage
Which of the following is exempt from property taxes only when an exemption is filed?
Antworten
-
Properties used exclusively for religious worship
-
Business inventories
-
Household personal property of a homeowner
-
All of these answers are valid.
Frage 132
Frage
A warehouse has a market value of $3,000,000. It generates an annual gross income of $500,000. Annual operating expenses are also $350,000. What is the gross income multiplier?
Frage 133
Frage
Land values of parcels which are same size and are side by side:
Antworten
-
Should have the same value
-
Must have different values
-
May have different value
-
None of these answer are correct
Frage 134
Frage
It is proper to adjust a sale price as an indicator of value when the:
Frage 135
Frage
Which of the following describes the manner in which the real property transfer tax in California is determined:
Antworten
-
$.55 per $500 of cash contribution (new money)
-
$1.10 per $1000 of sales price
-
2% of the value of the property
-
11% of the first trust deed
Frage 136
Frage
The existing lease on a property:
Antworten
-
May affect the selling price
-
Will not affect the market value for property tax purposes
-
May meet the requirements of an economic rent
-
All of these answers are valid
Frage 137
Frage
In valuing an improvement, the interest which a contractor must pay to borrow construction money:
Antworten
-
Is properly included as part of the cost approach
-
Should not be included in the cost approach
-
Is an expense to the contractor which should be ignored
-
Is an expense item of the income approach
Frage 138
Frage
While actual sales are preferred in the market approach, listings and offers may help bracket the value. In this respect:
Antworten
-
Listings should not be considered direct evidence
-
Real estate brokers and title companies are other sources of sales data
-
None of these answers are correct
-
Listings should not be considered direct evidence and real estate brokers and title companies are other sources of sales data
Frage 139
Frage
A house built in 1939, remodeled in 1970, and incorporating all significant features of houses built in 1965 would probably have an effective year of:
Frage 140
Frage
While actual sales are preferred in the market approach, listings and offers may help bracket the value. In this respect:
Antworten
-
Listings should indicate an upper limit of value
-
Offers should indicate a lower limit of value
-
None of these answers are correct
-
Listings should indicate an upper limit of value and offers should indicate a lower limit of value
Frage 141
Frage
The reliability of the cost approach is directly related to
Frage 142
Frage
The basic characteristic of real property is:
Antworten
-
Its value is tied to a specific location
-
The benefits are derived over a short period of time
-
Among property types, there is a great degree of standardization
-
All of these answers are valid
Frage 143
Frage
Which of the following is an example of a taxable possessory interest?
Antworten
-
Jake builds a cabin on land he owned by the Balzac Corporation
-
Jake builds a cabin on land he purchased from the U.S. Department of Interior
-
Jake builds a cabin on land he leases from the U.S. Forest Service
-
All of these answers are valid
Frage 144
Frage
Access the second bedroom of a house may be gained only through the first bedroom. This an example of:
Antworten
-
Eminent domain
-
Amenities
-
Functional obsolescence
-
Aversion
Frage 145
Frage
Which of the following is not a typical purpose of the cost approach?
Antworten
-
To appraise unusual properties not commonly found in the open market
-
To appraise older tract homes
-
To check against the values estimated from other approaches
-
To estimate the value of a new property
Frage 146
Frage
Which of these is considered an indirect cost?
Frage 147
Frage
Increasing the floor area of a structure has the usual effect of
Antworten
-
Increasing the square foot cost
-
Decreasing the square foot cost
-
Reducing the utility
-
None of these answers are valid
Frage 148
Frage
The Replacement Cost New (RCN) of the Miramar Hotel is $3,000,000. You determine that land values in the area are estimated to be $10.00/sq. ft. The subject lot size is 22,550 sq. ft. If the property sold for $2,500,000, what is the indicated accrued depreciation?
Antworten
-
$225,500
-
$500,000
-
$604,500
-
$725,500
Frage 149
Frage
Of the following, which is good reason for a separate estimate of site value?