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RPA Level 3 Review Qs & As Rated A+
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RPA Level 3 Review Qs & As Rated A+
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Name: Score:118 Multiple choice questions
Definition 1 of 118
tangible and intangible
Personal property is classified in the broad, general categories of
Income from property operations before expenses are deducted is referred to as
You should promise "confidentiality" of information only if confidentiality
The "mobilia rule" states that personal property is taxable at
Term 2 of 118
A single piece of data that is part of a larger sample is called
an observation
tangible and intangible
net operating income
its deviation
Definition 3 of 118
construct a building to equal utitlity
A measure of dispersion tells you
A coefficient of dispersion is
Replacement cost new is the cost to
Depreciation is best described as
,Definition 4 of 118
the use of debt capital to acquire an income producing asset
A reversion is
Discounted cash flow is
Land value may be estimated using
Leverage is
Term 5 of 118
You must always adjust, or consider adjusting, the value schedule to reflect the
market approach and cost approach
personal property is usually moveable
subject property's depreciation
effective gross income
Term 6 of 118
USPAP standard six covers
how close your appraisals come to market value
mass appraisal, development and reporting
a predictable, systematic error in estimates of market value
market approach and cost approach
,Definition 7 of 118
yield capitalization explicitly accounts for anticipated income over a specific holding period while
traditional capitalization uses one year's income stream
The primary difference between traditional and yield capitalization is
The form of depreciation that influences land and improvement value is
In the case of outside employment, the tax professional is obligated to
A riparian right allows the holders of the right access to or the use of
Term 8 of 118
The distance between a single observations and a measure of central tendency is called
an observation
its deviation
condition of sales
productive use
Definition 9 of 118
accurate ownership records
In mass appraisal, the primary use of simple linear regression is to correlate
According to the principle of "contribution", the value of any, feature of a property equals
the
Furniture, fixtures, equipment, machinery, and inventory are examples of
It is imperative that tax offices and appraisals districts work together in maintaining
, Definition 10 of 118
income stream into an indicated value
In appraisal, to "capitalize" means to convert an
The appraisal phase includes the
In constructing a cost schedule, the major effort is given to
Real estate that is purchased for investment is
Definition 11 of 118
the seller pays points on the buyers new loan to provide the buyer with a below market interest
rate
Cash equivalency analysis requires adjusting the sales price of a comparable when
A density schedule for inventory has only 2 dimensions. why?
The custodian of records may inquire of the person seeking records as to
You must always adjust, or consider adjusting, the value schedule to reflect the
Term 12 of 118
Any public meeting must be recorded by means
value estimated based upon a specific land use for the property
typewritten notes or the agency's tape recorder
make up part of a property's discount (return) rate
Conducting a ratio study to identify areas of inaccuracy
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