Donaldson RE Natl final Correct Questions & Answers (GRADED A+)
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A real estate development corporation purchased land for a condominium project. The corporation most likely took title to the land
A. as a general partnership.
B. as a joint tenant.
C. In severalty.
D. as a syndication. - ANSWERD. as a syndication.
Pulls funds for the development of projects
...
a real estate development corporation purchased la
man made markers such as a steel rod or concrete p
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Donaldson RE Natl final Correct Questions &
Answers (GRADED A+)
A real estate development corporation purchased land for a condominium project. The corporation
most likely took title to the land
A. as a general partnership.
B. as a joint tenant.
C. In severalty.
D. as a syndication. - ANSWERD. as a syndication.
Pulls funds for the development of projects
Man made markers such as a steel rod or concrete post may be part of what type of legal
description?
A. Metes and Bounds
B. Subdivision System
C. Lot & Block
D. Government Survey System - ANSWERA. Metes and Bounds
Which of the following is an economic characteristic of land?
A. Non-homogeneity
B. Indestructibility
C. Immobility
D. Situs - ANSWERD. Situs
If an unmarried couple wished to purchase a home together and have the right of survivorship,
which form of ownership would they choose?
Select one:
A. Tenancy at Will
,B. Joint Tenancy
C. Tenancy in Common
D. Tenancy by the Entirety - ANSWERB. Joint Tenancy
The process of taking property while providing just compensation is called:
Select one:
A. escheat.
B. eminent domain.
C. police power.
D. condemnation. - ANSWERD. condemnation.
CC&Rs can be recorded by whom?
Select one:
A. Only by subdivision developers.
B. Only by the civil sheriff.
C. Only for one year at a time and must be renewed.
D. By any property owner, usually the developer or current owner of the subdivision. - ANSWERD. By
any property owner, usually the developer or current owner of the subdivision.
Zoning regulations and decisions are usually handled by:
Select one:
A. towns and cities.
B. the federal government.
C. the state government.
D. the courts. - ANSWERA. towns and cities.
Which of the following is most likely used in the cost approach?
Select one:
A. future value of residential comparable property
B. original cost of building or improvement
C. a competitive market analysis
, D. estimating cost of building using today's cost - ANSWERD. estimating cost of building using today's
cost
The Principal of Substitution is most directly illustrated in the ______________________ to value by
valuing a subject by comparing it to recently sold equivalent properties and the price they sold for.
Select one:
A. the Cost Approach
B. the Market Price method
C. the Income Approach
D. the Sales Comparison Approach - ANSWERD. the Sales Comparison Approach
Which of the following types of depreciation is generally incurable?
Select one:
A. Physical deterioration
B. Physical depreciation
C. Economic obsolescence
D. Functional obsolescence - ANSWERC. Economic obsolescence
You are appraising a property in which seller motivation is a significant factor. The motivation would
be most important in utilizing which of the following?
Select one:
A. Gross rent multiplier method
B. Cost approach
C. Sales comparison approach
D. Income approach - ANSWERC. Sales comparison approach
The actual price paid for property as a result of a sale is known as its:
Select one:
A. market value.
B. appraised value.
C. market price.
D. cost. - ANSWERC. market price.
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