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TEXAS PRINCIPLES OF REAL ESTATE II FINAL ACTUAL EXAM 250 QUESTIONS AND CORRECT ANSWERS
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TEXAS PRINCIPLES OF REAL ESTATE II FINAL ACTUAL EXAM 250 QUESTIONS AND CORRECT ANSWERS
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TEXAS PRINCIPLES OF REAL ESTATE II FINALACTUAL EXAM 250 QUESTIONS AND CORRECT
ANSWERS
Terms in this set (158)
The approach used as the B
best indicator of value for
existing properties.
a. functional obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
Refers to the loss in A
desirability of the style,
layout, or function of an
element of a property over
time.
a. functional obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
,The price a willing seller will D
sell for, and the price a
willing buyer will pay.
a. functional obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The legal use for property C
that gives the greatest
return in money and/or
amenities.
a. functional obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The loss in value of a E
property caused by factors
outside of the property
itself.
a. functional obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
,The appraised value of a B
property is:
a. The sale price
b. An opinion of value
c. A market analysis
d. The market value of a
property
A "lite" appraisal is often A
referred to as a(n):
a. Drive-by appraisal
b. Full appraisal
c. Appraisal review
d. Summary appraisal
In the appraisal report, the D
property being appraised is
referred to as the
___________________.
a. Target property
b. Comparable property
c. Sold property
d. Subject property
, A homeowner added a D
swimming pool to a home
at a cost of $75,000. During
an appraisal, the appraiser
determined that the pool
added $55,000 to the value
of the property. In this case,
the appraiser was applying
the principle of _______________
in the analysis.
a. Anticipation
b. Change
c. Substitution
d. Contribution
An appraisal has a limited B
"shelf life" because of the
principle of __________________.
a. Anticipation
b. Change
c. Substitution
d. Contribution
The legal use of a property B
that gives the greatest
return in money and/or
amenities is known as the
property's _______________.
a. Net adjusted value
b. Highest and best use
c. Going concern value
d. Assessed value
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