0 / 50
Which of the following is referred to a lender when a financial institution puts together a loan for a property owner?
Correct!
Wrong!
-
A trust established by a person's will and not effective until the death of a trustor is a ______________.
Correct!
Wrong!
-
What type of value is normally associated with a business enterprise?
Correct!
Wrong!
-
What is the process called when a market area goes from agriculture to residential?
Correct!
Wrong!
-
______________ establishes the likely price that a property would sell for during a forced sale, such as a foreclosure or tax sale. Liquidation value is used when there is a limited window for market exposure or when there are other restrictive sale conditions.
Correct!
Wrong!
-
____________ is the type of deed that provides the greatest warranty against lawful claims.
Correct!
Wrong!
-
Moore gave permission to a nearby business neighbor to place a sign on his corner property to advertise the neighbor’s liquidation sale. What has Moore given his neighbor?
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!
-
When there is a loss of value due to poor design of the property, this property suffers from _________________.
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!
-
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 ownership interest that the landlord or lessor maintains in a property under a lease with the rights of use and occupancy being conveyed or granted to a tenant or lessee is called _________.
Correct!
Wrong!
-
Which one of the following is not a benefit of land trusts?
Correct!
Wrong!
-
The following could be considered an interim use EXCEPT
Correct!
Wrong!
-
What form(s) of co-ownership exists when real estate is held by two more more individuals?
Correct!
Wrong!
-
____________________ is the cost to construct an exact duplicate of the subject structure at today's costs.
Correct!
Wrong!
-
Barnes owns a property but has leased it to Reynolds. Which term describes Reynolds’ right in the property?
Correct!
Wrong!
-
Functional obsolescence that is as result of an over-improvement is referred to as a(n) _______________.
Correct!
Wrong!
-
______________ is the governmental right to affect the orderly transfer of property ownership to the state when the owner dies without a valid will and there is an absence of legal heirs.
Correct!
Wrong!
-
Appraiser Mills described the market area as a blue-collar area with good pride of ownership in the area residences. This is an example of ____________.
Correct!
Wrong!
-
In a scope of work decision, an opinion of market value and its definition is the element that is also known as ________________.
Correct!
Wrong!
-
Jake built his residence on two lots in a manner that makes it impossible to subdivide the land. This site situation that Jake has can be categorized as ____________.
Correct!
Wrong!
-
Which of the following scenarios may involve an appraiser?
Correct!
Wrong!
-
What does FIRREA stand for?
Correct!
Wrong!
-
North-south lines that run parallel to principal meridians and are 6 miles apart are considered to be ________________.
Correct!
Wrong!
-
Which of the following is NOT a common element in a condominium project?
Correct!
Wrong!
-
What is the oldest method to survey land?
Correct!
Wrong!
-
A typical option contract to purchase real property binds ____________.
Correct!
Wrong!
-
The principle of ________________ states that profits and values are maximized when there is a relativity degree of homogeneity amongst properties.
Correct!
Wrong!
-
What is the process called to convert income into value?
Correct!
Wrong!
-
The value of an investment to one particular investor is known as ____________.
Correct!
Wrong!
-
__________ provides the foundation for all social, political, and economic activity of people.
Correct!
Wrong!
-
Characteristics of the market such as interest rates, employment levels, vacancy levels, and so forth at a given point in time are known as ____________________.
Correct!
Wrong!
-
With a mortgage, the mortgagor is the _________________.
Correct!
Wrong!
-
Marshlands, Rivers, and forested areas are examples of natural features that define which type of boundaries within a market area?
Correct!
Wrong!
-
Which of the following is considered to be a special form of ownership?
Correct!
Wrong!
-
Real estate is physical land and ___________.
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!
-
The point at which the principal meridian and the base line intersect is referred to as the ____________
Correct!
Wrong!
-
____________ is the total dollar expenditure to develop an improvement.
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!
-
Moderate profit attracts healthy competition, but excess profits can result to ____________.
Correct!
Wrong!
-
What is the area in acres contained in the tact described as beginning at the NE corner of the NW ¼, then south along the east line to the SE corner of said quarter section, then west 2,640 feet, more or less, to the SW corner of the said NW ¼, then in a straight line to the P.O.B.
Correct!
Wrong!
-
A concept of full ownership interest in real property is known as the _________________.
Correct!
Wrong!
-
Which of the following DO NOT involve a fee simple interest in any way?
Correct!
Wrong!
-
The right of survivorship is most closely associated with what form of ownership?
Correct!
Wrong!
-
Which of the following is the Gross Income Multiplier formula?
Correct!
Wrong!
-
____________ is a portion of the purchase price given to bind the transaction.
Correct!
Wrong!
-
The Grahams bought a condominium unit in a resort area for $750,000. They use the condo for one month out of every year and rent it out through an agreement with the property management during the remaining months. This is an example of what type of ownership?
Correct!
Wrong!
-
The party or parties who engage an appraiser (by employment or contract) in a specific assignment are called ____________.
Correct!
Wrong!
-
