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REE 4103 Unit 3 (1).
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REE 4103 Unit 3 (1).
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REE 4103 Unit 3In appraisals this type of data about a subject property provided in land and building
descriptions helps the appraiser select the appropriate data pertaining to comparable
sales, rentals, construction costs, and specific characteristics of the local market that
influence the value of the subject and comparable properties.
a. Forged-economic data
b. Micro-level data
c. Standardized appraisal data
d. Macro-level data - ANS-b. micro-level data
Ten mills equals:
a. 0.0010
b. 0.00010
c. 0.0100
d. 01000 - ANS-c. 0.0100
The assessment ratio is:
a. The ratio of assessed value to market value
b. The ratio of assessed value to the average value for properties in the same district
c. The ratio of the assessor's salary to the total property value in that jurisdiction
d. Used in non-residential appraisals because it is simple and easy to understand -
ANS-a. the ratio of assessed value to market value
Which of the following generates the most demand for space designed to fulfill basic
human needs such as the need for housing and retail and medical services?
a. Households
b. Employment
c. Industrial
d. Commercial - ANS-a. households
In analyzing macro-level data, appraisers observe the operation of appraisal principles
by studying the interaction of the four forces that affect an area's property values. What
are the four forces?
, a. Social, economic, governmental, and environmental
b. Social, fiscal, governmental, and people
c. Social, macro, micro, and environmental
d. Social, economic, fiscal, and governmental - ANS-a. social, economic, governmental,
and environmental
Demand for housing is affected when:
a. The builders do not recognize a downturn in the market
b. Zoning laws restrict new construction to the point that not enough homes are built
c. A new factory opens and several hundred new employees are hired
d. Builders cannot find enough building materials to complete the job - ANS-c. a new
factory opens and several hundred employees are hired
Improvement cost date can be obtained from all of the following except:
a. US Treasury
b. Sales of new homes
c. Marshall & Swift and other cost services
d. Builders - ANS-a. US treasury
In appraisals this data is used to determine highest and best use and to make the
specific comparisons and anaylses required to develop an opinion of value:
a. Standardized appraisal data
b. Macro-level data
c. Forged-economic data
d. Micro-level data - ANS-d. micro-level data
Which type of data gives information on the subject property, comparable properties,
and market transactions?
a. competitive supply and demand data
b. specific data
c. Macro data
d. general data - ANS-b. specific data
Which of the following generates the most demand for warehouse, industrial, office, and
retail space used in producing goods and services.
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