RPA LEVEL IV PRACTICE |\ |\ |\ |\
EXAMINATION QUESTIONS WITH |\ |\
ANSWERS
|\
THE APPRAISAL PHASE INCLUDES WHICH FUNCTION -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔administration of exemptions
|\ |\ |\ |\
THE PROCESS OR RECORDING PROPERTY
|\ |\ |\ |\ |\
CHARACTERISTICS IN THE APPRAISAL DISTRICT IS CALLED |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔listing
|\ |\ |\ |\
THE 10% CAP ON APPRAISAL INCREASES APPLIES TO -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔all residence homesteads
|\ |\ |\ |\
what best describes taxable value - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔appraised value less the total amount of exemptions
|\ |\ |\ |\ |\ |\ |\ |\
that apply |\
the phase in which the governing body sets the tax rate is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔assessment
|\ |\ |\ |\
,in most counties, the appraisal review board must
|\ |\ |\ |\ |\ |\ |\ |\
complete substantially all hearing and approve the
|\ |\ |\ |\ |\ |\ |\
appraisal records by - CORRECT ANSWERS ✔✔july 20th
|\ |\ |\ |\ |\ |\ |\
if a taxing unit wants to generate a levy of $50,000 and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
its total taxable value is $20,000,000, what tax rate must
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
it impose - CORRECT ANSWERS ✔✔.25 per 100
|\ |\ |\ |\ |\ |\ |\
"accepted appraisal practice" mean producing an
|\ |\ |\ |\ |\ |\
estimate of value through - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
✔✔orderly set of steps which eliminate bias and enable
|\ |\ |\ |\ |\ |\ |\ |\ |\
testing
land value may be estimated using the - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔market or income approach |\ |\ |\ |\
best explains the bundle of rights - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔total ownership of property consists of owning a
|\ |\ |\ |\ |\ |\ |\ |\
number of distinct and separable rights
|\ |\ |\ |\ |\
the chief appraiser must , under law, use the income
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
approach when appraising - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\
✔✔properties that qualify for special- use valuation |\ |\ |\ |\ |\ |\
, you must always adjust, or consider adjusting, the value
|\ |\ |\ |\ |\ |\ |\ |\ |\
schedule to reflect the subjects propertys - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔depreciation |\
most appraisal districts base value schedules for
|\ |\ |\ |\ |\ |\ |\
residential properties on a combination of - CORRECT |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔cost approach and market approach |\ |\ |\ |\ |\
when the most probable use of a property is a single-
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
family residential, the use is - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔consumptive
cash equivalency analysis requires adjusting the sales
|\ |\ |\ |\ |\ |\ |\
price of a comparable - CORRECT ANSWERS ✔✔seller
|\ |\ |\ |\ |\ |\ |\ |\
pays points on the buyers new loan to provide the buyer
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with a below market interest rate
|\ |\ |\ |\ |\
which of the following statements best explains "value in
|\ |\ |\ |\ |\ |\ |\ |\ |\
use" - CORRECT ANSWERS ✔✔value is estimated based
|\ |\ |\ |\ |\ |\ |\ |\
upon a specific land use for the property
|\ |\ |\ |\ |\ |\ |\
which of the following explains the theory of consistent
|\ |\ |\ |\ |\ |\ |\ |\ |\
use? - CORRECT ANSWERS ✔✔the use of the
|\ |\ |\ |\ |\ |\ |\ |\
improvement must be the same as the use creating the |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
lands value |\
EXAMINATION QUESTIONS WITH |\ |\
ANSWERS
|\
THE APPRAISAL PHASE INCLUDES WHICH FUNCTION -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔administration of exemptions
|\ |\ |\ |\
THE PROCESS OR RECORDING PROPERTY
|\ |\ |\ |\ |\
CHARACTERISTICS IN THE APPRAISAL DISTRICT IS CALLED |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔listing
|\ |\ |\ |\
THE 10% CAP ON APPRAISAL INCREASES APPLIES TO -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔all residence homesteads
|\ |\ |\ |\
what best describes taxable value - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔appraised value less the total amount of exemptions
|\ |\ |\ |\ |\ |\ |\ |\
that apply |\
the phase in which the governing body sets the tax rate is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔assessment
|\ |\ |\ |\
,in most counties, the appraisal review board must
|\ |\ |\ |\ |\ |\ |\ |\
complete substantially all hearing and approve the
|\ |\ |\ |\ |\ |\ |\
appraisal records by - CORRECT ANSWERS ✔✔july 20th
|\ |\ |\ |\ |\ |\ |\
if a taxing unit wants to generate a levy of $50,000 and
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
its total taxable value is $20,000,000, what tax rate must
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
it impose - CORRECT ANSWERS ✔✔.25 per 100
|\ |\ |\ |\ |\ |\ |\
"accepted appraisal practice" mean producing an
|\ |\ |\ |\ |\ |\
estimate of value through - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
✔✔orderly set of steps which eliminate bias and enable
|\ |\ |\ |\ |\ |\ |\ |\ |\
testing
land value may be estimated using the - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔market or income approach |\ |\ |\ |\
best explains the bundle of rights - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔total ownership of property consists of owning a
|\ |\ |\ |\ |\ |\ |\ |\
number of distinct and separable rights
|\ |\ |\ |\ |\
the chief appraiser must , under law, use the income
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
approach when appraising - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\
✔✔properties that qualify for special- use valuation |\ |\ |\ |\ |\ |\
, you must always adjust, or consider adjusting, the value
|\ |\ |\ |\ |\ |\ |\ |\ |\
schedule to reflect the subjects propertys - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔depreciation |\
most appraisal districts base value schedules for
|\ |\ |\ |\ |\ |\ |\
residential properties on a combination of - CORRECT |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔cost approach and market approach |\ |\ |\ |\ |\
when the most probable use of a property is a single-
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
family residential, the use is - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔consumptive
cash equivalency analysis requires adjusting the sales
|\ |\ |\ |\ |\ |\ |\
price of a comparable - CORRECT ANSWERS ✔✔seller
|\ |\ |\ |\ |\ |\ |\ |\
pays points on the buyers new loan to provide the buyer
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with a below market interest rate
|\ |\ |\ |\ |\
which of the following statements best explains "value in
|\ |\ |\ |\ |\ |\ |\ |\ |\
use" - CORRECT ANSWERS ✔✔value is estimated based
|\ |\ |\ |\ |\ |\ |\ |\
upon a specific land use for the property
|\ |\ |\ |\ |\ |\ |\
which of the following explains the theory of consistent
|\ |\ |\ |\ |\ |\ |\ |\ |\
use? - CORRECT ANSWERS ✔✔the use of the
|\ |\ |\ |\ |\ |\ |\ |\
improvement must be the same as the use creating the |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
lands value |\
