Pearson VUE Exam Prep: Property
Value and Appraisal Exam Questions
& Answers (Grade A+)
The most probable price a property will sell for in an open market if
neither the buyer nor the seller is under duress -
correct answer ✅Market value
A property's objective worth, which may not equal price or cost -
correct answer ✅Value
Amount to create or recreate a property if it were destroyed -
correct answer ✅Cost
Amount a buyer paid for a property and a seller accepted -
correct answer ✅Market price
How popular or desirable a property is -
correct answer ✅Demand
The property's function -
correct answer ✅Utility
, Pearson VUE Exam Prep: Property
Value and Appraisal Exam Questions
& Answers (Grade A+)
Limited quantities of resources to meet unlimited wants -
correct answer ✅Scarcity
The ease with which another person can purchase the property; a
property with a title defect may suffer a loss of value because of the
difficulty in transferring title to another -
correct answer ✅Transferability
What a property is worth to the person using it -
correct answer ✅Value in use
What the local taxign authority thinks is the property is worth -
correct answer ✅Assessed value
Price at which the property can be loaned or sold for at foreclosure
sale -
correct answer ✅Mortgage value
Cost to replace or rebuild a property -
correct answer ✅Insured value
Value and Appraisal Exam Questions
& Answers (Grade A+)
The most probable price a property will sell for in an open market if
neither the buyer nor the seller is under duress -
correct answer ✅Market value
A property's objective worth, which may not equal price or cost -
correct answer ✅Value
Amount to create or recreate a property if it were destroyed -
correct answer ✅Cost
Amount a buyer paid for a property and a seller accepted -
correct answer ✅Market price
How popular or desirable a property is -
correct answer ✅Demand
The property's function -
correct answer ✅Utility
, Pearson VUE Exam Prep: Property
Value and Appraisal Exam Questions
& Answers (Grade A+)
Limited quantities of resources to meet unlimited wants -
correct answer ✅Scarcity
The ease with which another person can purchase the property; a
property with a title defect may suffer a loss of value because of the
difficulty in transferring title to another -
correct answer ✅Transferability
What a property is worth to the person using it -
correct answer ✅Value in use
What the local taxign authority thinks is the property is worth -
correct answer ✅Assessed value
Price at which the property can be loaned or sold for at foreclosure
sale -
correct answer ✅Mortgage value
Cost to replace or rebuild a property -
correct answer ✅Insured value
