Exam (elaborations)
REE 4103 CH 19_20 (1).
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REE 4103 CH 19_20 (1).
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REE 4103 CH 19/20Qualitative analysis is based on
A. Adjusting the sale prices of comparables on a percentage basis
B. "Inferior" or "superior" ratings
C. Dollar ratios
D. Price per square foot - ANS-"Inferior" or "superior" ratings
A market conditions adjustment is applied in some situations because
A. Financing terms have altered prices
B. The market has changed since the comparable property sold
C. It allows the appraiser more flexibility in the indication of value
D. All real estate values increase on a regular basis - ANS-The market has changed
since the comparable property sold
Adjustments for financing terms compensate for
A. A comparable that sold with financing below the current market rate
B. A comparable that sold with financing terms that were different than the terms
defined in the appraisal report
C. A comparable that sold with financing provided by a commercial bank
D. A comparable that sold with cash to the seller - ANS-A comparable that sold with
financing terms that were different than the terms defined in the appraisal report
Adjustments for the property rights conveyed, financing, conditions of sale, and the date
of sale are often made to the _______________ of the comparable property.
A. Unit price
B. Actual sale price
C. Square foot price
D. Gross income multiplier - ANS-Actual sale price
The preferred sequence of adjustment is
A. Property rights, conditions of sale, expenditures after sale, financing, market
conditions, and physical attributes
, B. Property conditions, financing, conditions of sale, expenditures after sale, market
conditions, and physical attributes
C. Property rights, conditions of sale, physical attributes, expenditures after sale,
financing, and market conditions
D. Property rights, financing, conditions of sale, expenditures after purchase, market
conditions, and physical attributes - ANS-Property rights, financing, conditions of sale,
expenditures after purchase, market conditions, and physical attributes
You are analyzing a sale in which the mathematical calculation of cash equivalency calls
for a $10,000 downward adjustment. However, by use of several paired data sets, you
find that the market only recognizes a $4,000 downward adjustment. What is the
adjustment for financing?
A. $4,000
B. $7,000
C. $10,000
D. $14,000 - ANS-$4,000
The appropriate time adjustment is concluded to be an increase of 7% per year
compounded. The time adjustment for a comparable sale that sold for $40,000, 2 years
ago is:
A. -5796
B. +$5,796
C. -2800
D. 5600 - ANS-+$5,796
When an appraiser researches the market directly with participants and the data has not
been previously collected, it is called
A. Secondary data
B. Primary data
C. Useful data
D. Quantitative data - ANS-Primary data
A conditions of sale adjustment reflects
A. The difference in the market on the effective date of the appraisal and the dates of
sale of the comparables
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