Exam (elaborations)

BASIC APPRAISAL PROCEDURES - FINAL EXAM QUESTIONS & ANSWERS 100% PASS | RATED A+

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Basic appraisal procedures

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Basic Appraisal Procedures

BASIC APPRAISAL PROCEDURES - FINAL EXAM QUESTIONS & ANSWERS 100% PASS | RATED A+ The most common heating systems in residential construction today are -hot water -heat pumps -forced warm air -electric radiant - hot water A home has a permanent steel chassis, wheels and axles. -panelized -...

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Uploaded on October 7, 2024
Number of pages 42
Written in 2024/2025
Type Exam (elaborations)
Contains Questions & answers

basic
basic appraisal
basic appraisal procedures
basic appraisal procedures final
basic appraisal procedures final exam
basic appraisal procedures final exam questions

Institution Basic appraisal procedures
Module Basic appraisal procedures

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HOSMERIT

BASIC APPRAISAL PROCEDURES -
FINAL EXAM QUESTIONS & ANSWERS
100% PASS | RATED A+

The most common heating systems in residential construction today are

-hot water
-heat pumps
-forced warm air

-electric radiant - ✔✔hot water

A home has a permanent steel chassis, wheels and axles.

-panelized
-modular
-pre-cut

-manufactured - ✔✔manufactured

"The total period a building lasts or is expected to last..." is the definition of life.

-useful
-expected
-real

-physical - ✔✔physical

"The actual rental income specified in a lease" is the definition of rent.

,-deficit

-contract
-market

-lease - ✔✔contract

A comparable new house just sold for $440,000. You estimate the value of the site at $90,000
and the cost of the site improvements at $15,000. It has 2,885 square feet of GLA. What is its
unit cost?

-$108.44
-$116.12
-$120.46

-$124.90 - ✔✔-$116.12

Comparative - Unit Method - Market Derivation. $440,000 - $90,000 - $15,000 = $335,000.
$335,000 ÷ 2,885 = $116.12.

A one-and-a-half-story house is commonly known as a

-cape cod
-ranch
-split-level

-split-entry - ✔✔cape cod

Appraisal fees are examples of costs.

-direct
-indirect
-unnecessary

-replacement - ✔✔indirect

,Separate site valuations would likely be required in which of the following situations:

-cost approach
-condemnation appraisals
-highest and best use analysis

-any of the above - ✔✔any of the above

When measuring a condominium you should calculate using measurements.

-GLA, exterior
-GBA, interior
-GLA, interior

-GBA, exterior - ✔✔GLA, interior

When developing an appraisal, you calculate the following GRMs for comparable properties:
94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the range of the GRMs?

-24.7
-25.6
-27.2

-28.7 - ✔✔24.7

It is common in appraisal reports to include a map that shows the location of the .

-subject property only
-subject property and support facilities
-subject property and comparable sales

-subject property and local schools - ✔✔-subject property and comparable sales

, "Details about the property being appraised, comparable sale and rental properties, and
relevant local market characteristics" is the definition of

-specialized data
-specific data
-general data

-neighborhood data - ✔✔specific data

In the sales comparison approach, sales data on sales should be collected.

-one or two
-no more than two
-exactly three

-at least three - ✔✔at least three

"The amount by which contract rent exceeds market rent at the time of the appraisal. " is the
definition of rent.

-excess
-deficit
-effective

-economic - ✔✔excess

Keyways are employed in which type of foundation walls?

-stone
-wood
-concrete block

-poured concrete - ✔✔poured concrete

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