REAE 3325 Exam 2 Questions and Answers 100% Accurate
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Course
REAE 3325
Institution
REAE 3325
REAE 3325 Exam 2 Questions and Answers 100% AccurateREAE 3325 Exam 2 Questions and Answers 100% AccurateREAE 3325 Exam 2 Questions and Answers 100% AccurateREAE 3325 Exam 2 Questions and Answers 100% AccurateThe Final price for each comparable property reached after all adjustments have been made i...
REAE 3325 Exam 2 Questions and
Answers 100% Accurate
The Final price for each comparable property reached after all adjustments have been
made is termed the: - ANSWER-Final adjusted sale price
Which of the following is not included in accrued depreciation when applying the cost
approach to valuation? - ANSWER-Tax depreciation
In the sales comparison approach, the value obtained after reconciliation of the final
adjusted sale prices from the comparable sales is termed the: - ANSWER-Indicated
opinion of value
A new house in good condition that has a poor floor plan would suffer from which type
of accrued depreciation? - ANSWER-Functional obsolescence
To reflect a change in market conditions between the date on which a comparable
property sold and the date of appraisal of a subject property, an adjustment must be
made for which of the following? - ANSWER-market conditions
Under the cost approach to appraisal, the expenditure required to construct a building
with equal utility as the one being appraised is termed the: - ANSWER-Replacement
cost
A comparable property sold 10 months ago for $98,500. If the appropriate adjustment
for market conditions is 0.30% per month (with compounding), what would be the
adjusted price of the comparable property? - ANSWER-$101,495
You find two properties that have sold twice within the last two years. Property A sold 22
months ago for $98,500; it sold last week for $108,000. Property B sold 20 months ago
for $105,000; it sold two weeks ago for $113,500. Assuming no compounding, what is
the average monthly rate of change in sale prices? - ANSWER-0.42%
The element of an adjusted interest rate that is the "moving part" is the: - ANSWER-
Index
A lender may reserve the right to require prepayment of a loan at any time they see fit
through a(n): - ANSWER-demand clause
When a buyer of a property with an existing mortgage loan acquires the property
without signing the note for an existing loan the buyer is acquiring the property: -
ANSWER-Subject to the mortgage
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