0 / 50
Which type of deed provides the most protection for an individual?
Correct!
Wrong!
-
Jamie has a sales contract on a property, but it does not state the legal description nor signed by the seller. The contract is ____________.
Correct!
Wrong!
-
With a mortgage, the mortgagor is the _________________.
Correct!
Wrong!
-
An appraiser’s familiarity with a specific type of property may apply to what concept?
Correct!
Wrong!
-
A comparable sale sold for 15% above the market due to seller concessions. What is the cash equivalent price if the sale price was $175,000?
Correct!
Wrong!
-
The value of an investment to one particular investor is known as ____________.
Correct!
Wrong!
-
Allen performed an appraisal with an “exterior-only” inspection. The degree to which a property is inspected is which part of the appraisal development process?
Correct!
Wrong!
-
The following could be considered an interim use EXCEPT
Correct!
Wrong!
-
Which of the following is NOT an example of a "non-financial encumbrance"?
Correct!
Wrong!
-
Fernandez is appraising a property for a client with the intended use of filing a tax appeal. In this assignment type, Fernandez should be an advocate for ____________.
Correct!
Wrong!
-
The party or parties who engage an appraiser (by employment or contract) in a specific assignment are called ____________.
Correct!
Wrong!
-
What does RPN stand for?
Correct!
Wrong!
-
What are the four forces (factors) that create value?
Correct!
Wrong!
-
True or False : Entrepreneurial profit is what the individual ACTUALLY receives while Entrepreneurial Incentive is what the individual EXPECTS to receive.
Correct!
Wrong!
-
_______________ is a lease in which the tenant pays a fixed amount of rent. The owner of the property is responsible for maintenance, insurance, taxes, etc. The leasing of residential properties is usually this kind of lease.
Correct!
Wrong!
-
The form of legal description most commonly used west of the Mississippi River is ____________.
Correct!
Wrong!
-
A(n) _______________ is an analysis studying the nature, quality and utility of an interest in which a value estimate is not required.
Correct!
Wrong!
-
If a buyer purchases a quarter acre of land for $5.00 per square foot, what should be the price of the parcel?
Correct!
Wrong!
-
Which of the following options applies to value and cost?
Correct!
Wrong!
-
The area surrounding Independence Hall in Philadelphia, where the Constitution of the United States was signed. What kind of district does this describe?
Correct!
Wrong!
-
Due to an economic downturn, the median price of $5,000 per tillable acre declined 15% in the last year. What is the current median price?
Correct!
Wrong!
-
North-south lines that run parallel to principal meridians and are 6 miles apart are considered to be ________________.
Correct!
Wrong!
-
_________________ is a value to a particular investor, or a class of investors, for identified investment objectives. This subjective concept relates specific property to a specific investor, group of investors, or entity with identifiable investment objectives and/or criteria.
Correct!
Wrong!
-
When there is a loss of value due to poor design of the property, this property suffers from _________________.
Correct!
Wrong!
-
If your subject property is in an area with a university, a research center and many high-tech companies, which of the following best describes this area?
Correct!
Wrong!
-
An implied contract is an agreement that is presumed to exist because of the parties’ action. What type of contract is called to an agreement that is put into words (spoken or written)?
Correct!
Wrong!
-
The ______________________ is the benefits that an entrepreneur expects to receive from assuming risk of a project.
Correct!
Wrong!
-
Which of the following is the most detailed and comprehensive method of calculating depreciation?
Correct!
Wrong!
-
The right of survivorship is most closely associated with what form of ownership?
Correct!
Wrong!
-
The interest which a tenant or lessee acquires under a lease including rights of use and occupancy for a stated term under certain conditions is called __________.
Correct!
Wrong!
-
Which one of the following is not a benefit of land trusts?
Correct!
Wrong!
-
What year was the Appraisal Foundation established?
Correct!
Wrong!
-
Fannie Mae, Freddie Mac, and Ginnie Mae participate in a market called ____________.
Correct!
Wrong!
-
Which of the following is used by the government as the process to acquire land for public benefit?
Correct!
Wrong!
-
___________________________ pays unforeseen expenses not provided in a reserve fund.
Correct!
Wrong!
-
The surface contour of land is known as _______________.
Correct!
Wrong!
-
____________ is the total dollar expenditure to develop an improvement.
Correct!
Wrong!
-
A(n) _______________ is an analysis of the cost-benefit relationship for a particular real estate investment's acquisition price vs the anticipated future returns of the project.
Correct!
Wrong!
-
What is the oldest method to survey land?
Correct!
Wrong!
-
________________ is the age that the property appears to be at the time of inspection.
Correct!
Wrong!
-
Dania purchased a time-share property that included a one-week expense-paid trip to the Turks and Caicos Islands as an inducement to buy property. The trip was valued as $3000. What is the cash equivalent price if the property sold for $28,000?
Correct!
Wrong!
-
Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat is a ___________________.
Correct!
Wrong!
-
Which of the following items can be classified as personal property?
Correct!
Wrong!
-
A(n) _________________ is defined as an opinion of value, or the act or process of developing an opinion of value.
Correct!
Wrong!
-
How many feet are in an acre?
Correct!
Wrong!
-
_____________________ occurs when a physical structure such as a garage, deck or fence intrudes onto an adjoining property.
Correct!
Wrong!
-
________ is an item that was once personal property but now it has been installed in such a manor that it is now part of the real estate.
Correct!
Wrong!
-
Real estate is physical land and ___________.
Correct!
Wrong!
-
Which of the following ownership limitations is not considered to be an exercise of government power?
Correct!
Wrong!
-
A(n) _____________ is the process of estimating a defined value for a specific interest in a particular property as of an identified point in time.
Correct!
Wrong!
-
