State Cert Exam - AI Test Questions, CGA Exact Questions And Correct Answers
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State Cert Exam - AI Test Questions, CGA Exact Questions And Correct Answers
In preparing a market value appraisal with a retrospective date of value, is the appraiser allow to consider any information after the effective date of value, and why?
Yes; the appraiser may use data subsequent t...
State Cert Exam - AI Test Questions, CGA
Exact Questions
In preparing a market value appraisal with a retrospective date of value, is the appraiser allow to
consider any information after the effective date of value, and why?
K
Yes; the appraiser may use data subsequent to the effective date as a confirmation of trends.
C
Which of the following values would a bank request for a new loan on an established hotel?
Going concern value
LO
Which of the following demand-side economic factors creates value?
Desire & effective purchasing power
YC
An appraiser concluded a market-derived 9% overall capitalization rate within the income cap
approach. The user of the appraisal asked the appraiser to render a second value based upon
D
the user's required 8.75% overall rate. What definition of value applies to the secondary value
conclusion?
Investment value
U
ST
Which of the following methods of cost estimating is the most comprehensive and accurate?
Quantity survey
An appraiser is contacted by a property manager to appraise a large & complex non-residential
property. The property manager requires the appraiser pay $3,000 to procure the assignment.
How can the appraiser accept the assignment & still comply with USPAP?
The appraiser must disclose the the commission in the certification & any letter of transmittal
that includes conclusions.
,What construction class of buildings has wood or light steel frames & roof structures?
Class D
What term describes the lump sum benefit an investor receives upon termination of an
investment or at the intermediate analysis period during the term of an investment?
Reversion
K
A staff appraiser, employed by a local bank for 5 years, plans to leave the bank to open an
C
independent appraisal business. Must the appraiser remove all work files for assignments
completed for the bank?
No; the appraiser may make arrangements with the bank to access or retrieve the files.
LO
An appraiser receives an appraisal assignment. The appraiser has not performed any services
in connection with this property in the past three years. What disclosures are required under the
YC
USPAP?
The appraiser must disclose in the report's certification that no prior services has been
performed in the last three years.
D
The assignment is to value a 9,600 sf church on a 25-acre single family parcel. Residential land
is currently selling for $55,000 an acre. However, demand for new single-family construction is
eight years out with a discount rate of 15%. Similar churches have recently sold for between
U
$50-$55 sf. What type of value is illustrated?
Market value
ST
A parcel in the path of development is zoned for high-density apartment use. It currently has a
single-unit owner-occupied dwelling on the site. The improvements do not represent the highest
& best use of the site but the current use is likely to continue until competing sites are
developed. How is the highest & best use of the site as improved described?
Interim use
Which influence on real estate is considered economic
, Extent of owner occupancy
In what part of the appraisal report must prior services be disclosed?
Certification
What type of assignment should be employed to determine general conditions of supply,
K
demand, & pricing for a specific property type?
Market analysis
C
The subject property is a 6,000 ft by 1,452 ft home site with a single-unit dwelling. When the site
LO
was platted, there was no zoning. The current zoning requires a 160-acre minimum site size for
a residence. What is the status of the lot?
Surplus land
YC
The appraisal assignment of a building under construction requires a value as of the date of
stabilized occupancy. What value is required, and what assignment condition is employed?
Prospective market value and extraordinary assumption
D
What principle describes the ability of an individual or group to participate in a market?
Effective demand
U
ST
What term refers to a division of a total market based on the preferences of buyers & sellers?
Submarket
An appraisal report allegedly contains misleading information. What entity has the authority to
determine if a violation of USPAP has occurred?
State appraiser regulatory agency
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