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Texas SAE Question and answers rated A+

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Texas SAE Question and answers rated A+ Transferability - correct answer Which value-influencing DUST factor addresses the ease with which the property can be conveyed to another? Present index ÷ Index at time of construction x Original cost = Present cost To arrive at the present cost, the ...

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  • July 20, 2024
  • 38
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • texas sae
  • texas sae question and answers rated a

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Texas SAE: Real Estate Appraisal Exam review
Texas SAE: Real Estate Appraisal Exam review
2024/2025 Transferability - correct answer ✔Which value-influencing DUST factor addresses the ease with which the property can be conveyed to another?
Present index ÷ Index at time of construction x Original cost = Present cost
To arrive at the present cost, the appraiser applies a factor that represents the
costs of construction over time up to the appraisal date (present index ÷ index at time of construction) multiplied by the subject building's original cost. - correct answer ✔Which of the following formulas is used with the index method to find the reproduction cost?
The same neighborhood - correct answer ✔When possible, comparable sales from ______ should be used.
A parcel of land, the structures on it, and shared common areas - correct answer ✔Ownership in a planned unit development consists of ______.
Unpaid taxes become a lien against the property. - correct answer ✔In what way is taxation an inherent burden on private landownership?
Deductible on her personal income tax returns
As the resident in a cooperative, her share of mortgage interest and real estate taxes is deductible on personal income tax returns. - correct answer ✔Bianca wants to buy a cooperative, but she's unsure that she can afford it. With a cooperative, her share of mortgage interest and real estate taxes will be ______.
The appraiser, the lender, and the consumer - correct answer ✔The Appraiser Independence Requirements protect which party or parties? 10X (100,000/10,000) - correct answer ✔Using the gross income multiplier (GIM) valuation method, a property's sales price is divided by its gross income. If a property has a sales price of $100,000 and gross income of $10,000, what is its GIM?
Appraiser - correct answer ✔Which professional is hired by the buyer and lender to give an opinion of value of the property?
The appraiser selects the adjusted sales price of the property most like the subject to use as the indicated value. - correct answer ✔Which of the following best describes how an appraiser reconciles the adjusted sales prices
of the comparable properties to indicate the value of the subject property?
An estimate of value for a specific purpose, party, and property as of a specific date - correct answer ✔What is the definition of an appraisal?
Condo Unit - correct answer ✔Which of the following properties requires the appraiser to include information about the monthly fees charged by the property management, the location of the subject property within a community, and the areas considered private or public?
Severalty Ownership
Corporations own property owned in severalty, like individuals do. - correct answer ✔If Mega Corporation owns real property, chances are it owns it in ______.
Land Trust
A land trust is similar to other trusts except that it's formed specifically to hold real estate. - correct answer ✔James creates a trust to hold a piece of real estate he owns. He directs a corporate fiduciary to hold title to the real estate and provides instructions for the management, control, and disposition of the real estate upon his death. Given that the trust only holds real estate, James likely set up a(n) ______ trust.
This is a definition of land. - correct answer ✔The earth's surface, extending downward to the center of the earth and upward to infinity, including permanently-attached natural objects, is called ______.
Building specifications explain the blueprint and any features that may not be visible on that building plan. - correct answer ✔Which of these is a written description of a blueprint?
Ground Rent Capitalization Method (GRM) - correct answer ✔What method of land valuation converts the amount of yearly income a site will produce into a value using a capitalization rate?
Complete the cost approach section of the URAR form - correct answer ✔As
part of completing an appraisal using the cost approach method, what must appraisers do?
Direct Capitalization - correct answer ✔Which of the following analyzes net operating income (NOI) for a single year, and is used when the property's income isn't expected to vary much over time?
The _method converts a single year's expected income (or an annual average) into a market value. This is the expected return on investment the property is capable of producing in a single year: the first year of ownership.
Real Property - correct answer ✔Real estate, plus all of the interests, benefits, and rights included in ownership, is also known as ______.

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