BASIC APPRAISAL PROCEDURES COMPREHENSIVE
EXAM 100% CORRECT ALREADY GRADED A+
1.The most common heating systems in residential construction today are
-hot water
-heat pumps
-forced warm air
-electric radiant
hot water
2.A _______________ home has a permanent steel chassis, wheels and axles.
-panelized
-modular
-pre-cut
-manufactured
manufactured
3."The total period a building lasts or is expected to last..." is the definition of
_________ life.
-useful
-expected
-real
-physical
physical
4."The actual rental income specified in a lease" is the definition of ___________
rent.
-deficit
-contract
-market
-lease
Contract
5.A comparable new house just sold for $440,000. You estimate the value of the
site at $90,000 and the cost of the site improvements at $15,000. It has 2,885
square feet of GLA. What is its unit cost?
-$108.44
-$116.12
-$120.46
-$124.90
,-$116.12
Comparative – Unit Method – Market Derivation. $440,000 - $90,000 - $15,000 =
$335,000. $335,000 ÷ 2,885 = $116.12.
6.A one-and-a-half-story house is commonly known as a
-cape cod
-ranch
-split-level
-split-entry
cape cod
7.Appraisal fees are examples of _______________ costs.
-direct
-indirect
-unnecessary
-replacement
Indirect
8.Separate site valuations would likely be required in which of the following
situations:
-cost approach
-condemnation appraisals
-highest and best use analysis
-any of the above
any of the above
9.When measuring a condominium you should calculate ____ using _______
measurements.
-GLA, exterior
-GBA, interior
-GLA, interior
-GBA, exterior
GLA, interior
10.When developing an appraisal, you calculate the following GRMs for
comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the range
of the GRMs?
-24.7
-25.6
-27.2
-28.7
, 24.7
11.It is common in appraisal reports to include a map that shows the location of
the _______________.
-subject property only
-subject property and support facilities
-subject property and comparable sales
-subject property and local schools
-subject property and comparable sales
12."Details about the property being appraised, comparable sale and rental
properties, and relevant local market characteristics" is the definition of
-specialized data
-specific data
-general data
-neighborhood data
specific data
13.In the sales comparison approach, sales data on __________ sales should be
collected.
-one or two
-no more than two
-exactly three
-at least three
at least three
14,"The amount by which contract rent exceeds market rent at the time of the
appraisal...." is the definition of __________ rent.
-excess
-deficit
-effective
-economic
Excess
15.Keyways are employed in which type of foundation walls?
-stone
-wood
-concrete block
-poured concrete
poured concrete
16.A 5 year old water heater with an expected life of 12 years and a replacement
cost of $825 will have experienced depreciation of $__________.
EXAM 100% CORRECT ALREADY GRADED A+
1.The most common heating systems in residential construction today are
-hot water
-heat pumps
-forced warm air
-electric radiant
hot water
2.A _______________ home has a permanent steel chassis, wheels and axles.
-panelized
-modular
-pre-cut
-manufactured
manufactured
3."The total period a building lasts or is expected to last..." is the definition of
_________ life.
-useful
-expected
-real
-physical
physical
4."The actual rental income specified in a lease" is the definition of ___________
rent.
-deficit
-contract
-market
-lease
Contract
5.A comparable new house just sold for $440,000. You estimate the value of the
site at $90,000 and the cost of the site improvements at $15,000. It has 2,885
square feet of GLA. What is its unit cost?
-$108.44
-$116.12
-$120.46
-$124.90
,-$116.12
Comparative – Unit Method – Market Derivation. $440,000 - $90,000 - $15,000 =
$335,000. $335,000 ÷ 2,885 = $116.12.
6.A one-and-a-half-story house is commonly known as a
-cape cod
-ranch
-split-level
-split-entry
cape cod
7.Appraisal fees are examples of _______________ costs.
-direct
-indirect
-unnecessary
-replacement
Indirect
8.Separate site valuations would likely be required in which of the following
situations:
-cost approach
-condemnation appraisals
-highest and best use analysis
-any of the above
any of the above
9.When measuring a condominium you should calculate ____ using _______
measurements.
-GLA, exterior
-GBA, interior
-GLA, interior
-GBA, exterior
GLA, interior
10.When developing an appraisal, you calculate the following GRMs for
comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the range
of the GRMs?
-24.7
-25.6
-27.2
-28.7
, 24.7
11.It is common in appraisal reports to include a map that shows the location of
the _______________.
-subject property only
-subject property and support facilities
-subject property and comparable sales
-subject property and local schools
-subject property and comparable sales
12."Details about the property being appraised, comparable sale and rental
properties, and relevant local market characteristics" is the definition of
-specialized data
-specific data
-general data
-neighborhood data
specific data
13.In the sales comparison approach, sales data on __________ sales should be
collected.
-one or two
-no more than two
-exactly three
-at least three
at least three
14,"The amount by which contract rent exceeds market rent at the time of the
appraisal...." is the definition of __________ rent.
-excess
-deficit
-effective
-economic
Excess
15.Keyways are employed in which type of foundation walls?
-stone
-wood
-concrete block
-poured concrete
poured concrete
16.A 5 year old water heater with an expected life of 12 years and a replacement
cost of $825 will have experienced depreciation of $__________.
