Exam (elaborations)
REAL ESTATE APPRAISAL FINAL PRACTICE EXAM
- Course
- Institution
REAL ESTATE APPRAISAL FINAL PRACTICE EXAM
[Show more]
Content preview
REAL ESTATE APPRAISAL FINAL PRACTICE EXAMWhen Scheduled rent is less than market rent, a tenant may benefit by creation of a -
Answers -sandwich lease
A rectangular shaped building that is 35 feet wide and 55 feet long has a perimeter of -
Answers -180 feet
In the U.S. Government survey system, a one square mile area, or 640 acres, is called
a - Answers -section
A time share is always - Answers -a right to use property
Deterioration of a building walls and ceilings is considered - Answers -long lived
incurable
Deterioration of a building foundation is considered - Answers -long lived incurable
Which of the following terms refers to the rights of a person who owns a piece of
property but lease it to someone else - Answers -Leased fee estate
the cost to pave a driveway that is 330 feet by 18 feet , at $8.25 per square yard, is -
Answers -5,445
The value of 100 acres of land best suited for high density residential use may be found
using the - Answers -subdivision development method
Matched pairs analysis is used to determine which of these - Answers -Value of
adjustments
A property use (as opposed to a building specification) contrary to local zoning
regulations would require which of the following - Answers -Conditional use permit
Under the condominium form of ownership, an owner's interest in an individual unit
would normally be a - Answers -fee simple interest
Varying financing terms may be compensated for when considering comparable
properties by using the - Answers -Cash equivalency technique
Generally, gross rent multiplier are used in appraising which of the following - Answers -
Single family homes
A house oriented for maximum sunlight in winter will face - Answers -south
,Between the ground and a foundation slab that rests on piers is (are) the - Answers -
crawl space
Tangible items not permanently attached to real estate are - Answers -personal property
In a trust deed, the person pledging real estate as security for the debt is the - Answers
-trust-or
Under a gross lease, the tenant usually pays - Answers -a fixed rental over the period of
the lease
Land is divided into townships in the - Answers -rectangular survey system
Base lines and meridians are used in the - Answers -rectangular survey system
If there were 400 foreclosures this year and 500 last year, what is the percentage of
change - Answers --20%
Acknowledgment is required to - Answers -validate a deed for recording
A subdivision map is referenced in the - Answers -lot and block system
Governments establish zoning ordinance and building codes thought - Answers -their
police power
Anything used with land for its benefit is - Answers -an appurtenance
As a general rule, the sales comparison approach is the most reliable approach with -
Answers -single family residences
The mortgage that offers a below market interest rate and lower payments in exchange
for the transfer of some equity from borrower to lender is the - Answers -shared
appreciation mortgage
The highest and best use of real estate is its - Answers -most profitable legally and
physically permitted use
The high value of older building in very desirable urban areas results primarily from -
Answers -supply and demand
Earthquakes, mud slides and periods of economic depression are all examples of -
Answers -Change
In the cost approach the value - Answers -Improvements are depreciated
, The lessee most likely would pay for fire insurance under which type of lease - Answers
-triple net lease
Net operating income excludes - Answers -rent, rent plus any other income, gross
income, none of these
An outmoded room layout in a home is an example of - Answers -functional
obsolescence
If a wants a 10% return on investment and is interested in a retail complex that
produces a net operating income of $63,000 per year, what would the buyer be willing
to pay for the complex - Answers -$63,000
to receive a 14% return on an investment of $500,000, what would be the required net
operating income of the purchased property - Answers -$7,000
What would be the best appraisal approach to use in estimating the market value of an
athletic stadium - Answers -cost
Which appraisal approach would normally carry the most weight in valuing a strip
shopping center - Answers -income capitalization
Economic base refers to - Answers -the level of business activity in a community
a measure of how far the average variate differs from the mean is the - Answers -
average deviation
Using all three approaches to value and assigning different weights to each approach is
called - Answers -reconciliation
the most frequently occurring variate is the - Answers -mode
Income attributable to land rent that remains after the expenses of ownership are
deducted, is called - Answers -surplus productivity
The measure of the effectiveness of insulation is - Answers -R-value
In the income capitalization approach, property value is treated as a function of -
Answers -net operating income
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 - Answers -20 acres
The scientific study of population statistics is called - Answers -demography
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller GEEKA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73314 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now