Appraisal Exam questions hondros final exam Questions And Answers Graded A+
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Course
Appraisal hondros
Institution
Appraisal Hondros
When reflected to the subject, the comparable property had a fireplace with a contributory value of
$1,500, but lacked a half bath with a contributory value of $2,500. What was the net adjustment to the
comparable? - +$1,000
When using the income approach, appraisers do NOT assume that - Future ...
Appraisal Exam questions hondros final
exam
When reflected to the subject, the comparable property had a fireplace with a contributory value of
$1,500, but lacked a half bath with a contributory value of $2,500. What was the net adjustment to the
comparable? - +$1,000
When using the income approach, appraisers do NOT assume that - Future income is always more
valuable than present income
The opinion of value in an appraisal report is valid - as of the effective date of the appraisal only
An appraisal report is NOT required to include - The contract price of the property
Which value approach would most likely be emphasized for an apartment building in an established
neighborhood? - Income approach
A vacant land parcel described as the NE 1/4 of section 17 is selling for $1,200 per acre. What is the sale
price of the parcel? - $192,000
Market value is - The most probable selling price to a typical buyer
Market price is the - amount, in dollars, actually paid for the property
The cost approach does NOT require an estimate of - Net operating income
Using the information in the following table, calculate depreciation using the age-life method.
Replacement cost-$173,000
Effective age-15 years
, Remaining economic life-60 years - $34,600
The single most important value factor is - Location
Which characteristics create value in real estate? - Scarcity and utility
The four broad forces which affect value are - Economic, governmental, social, and physical
A neighborhood's life cycle is an example of - Change
In analyzing a vacant size to estimate its value, the first step is to determine - Its highest and best
use
If a developer purchased a lot measuring 348' x 1,000' and the sale price was $5,000 per acre, how much
did the developer pay? - $39,945
The data required for a site analysis includes
a. economic characteristics of the neighborhood and community
b. physical characteristics of the site
c. zoning information
d. all of the above - All of the above
Prior to inspecting the site, an appraiser should obtain information on the
a. size and shape of the parcel
b. utilities and soil type
c. zoning and easements
d. all of the above - All of the above
As the depth of the lot increases, the value per front footage - Increases at a decreasing rate
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