BARNEY FLETCHER POST LICENSE COURSE
EXAM 2025 | QUESTIONS AND CORRECT
ANSWERS | VERIFIED ANSWERS | GRADED A+
What is the impact of the "strict liability" standard for cleanup of
environmental contamination?
Select one:
a. It means that the current and all past owners of a property must share in
the clean-up costs of any contamination.
b. It means that only the owner which caused the contamination is liable for
the clean-up costs of any contamination.
c. It means that the current owner is responsible for the clean-up costs of
any contamination regardless of which owner caused the contamination.
d. It means that no owner is responsible for the clean-up costs of any
contamination unless it can be determined who was responsible for the
contamination. ---------CORRECT ANSWER-----------------c. It means that
the current owner is responsible for the clean-up costs of any
contamination regardless of which owner caused the contamination.
The most common type of industrial property in the United States is:
Select one:
a. Distribution centers;
b. Warehouses;
c. Light industrial;
d. Flex buildings.
Feedback
The most common type of industrial property in the United States is light
industrial.
The correct answer is: Light industrial; ---------CORRECT ANSWER-----------
------c. Light industrial;
,A subject property has 1,500 square feet of living space. A nearby
comparable sale has 1,650 square feet of living space. The appropriate
adjustment would be $5,000. This adjustment would be:
Select one:
a. Added to the sale price of the subject property.
b. Subtracted from the sale price of the subject property.
c. Added to the sale price of the comparable sale.
d. Subtracted from the sale price of the comparable sale. ---------CORRECT
ANSWER-----------------d. Subtracted from the sale price of the comparable
sale.
After an appraiser has made the appropriate adjustments when using the
sales comparison approach, the appraiser will:
Select one:
a. Reconcile the indicated values.
b. Average the indicated values.
c. Stabilize the indicated values.
d. Find the mean of the indicated values. ---------CORRECT ANSWER-------
----------a. Reconcile the indicated values.
Which of the following types of retail centers would draw its customers from
the population within 3 miles of the store?
Select one:
a. Strip center;
b. Neighborhood center;
c. Community center;
d. Regional mall. ---------CORRECT ANSWER-----------------b. Neighborhood
center;
What is subtracted from potential gross income to arrive at the effective
gross income in a commercial building?
Select one:
a. Vacancy losses only.
b. Collection losses only.
,c. Neither vacancy losses nor collection losses.
d. Both vacancy losses and collection losses. ---------CORRECT ANSWER-
----------------d. Both vacancy losses and collection losses.
What is an estoppel certificate?
Select one:
a. It is the first step in the eviction process.
b. It is a written statement signed by a tenant stating what rent the tenant
pays.
c. It is a statement from the property manager stating what rent is paid for a
particular unit.
d. It is a statement from the buyer to the tenant stating what rent will be
charged upon closing of the transaction. ---------CORRECT ANSWER--------
---------An estoppel certificate is a written statement signed by a tenant
stating the amount of rent being paid by the tenant.
The correct answer is: It is a written statement signed by a tenant stating
what rent the tenant pays.
The method of estimating construction costs that totals the raw materials
required, the labor costs, management costs and a profit allowance is
known as the:
Select one:
a. Square foot.
b. Cubic foot.
c. Unit in place.
d. Quantity survey. ---------CORRECT ANSWER-----------------d. Quantity
survey.
The method of estimating construction costs that estimates the installed
cost of each component part of the structure (such as walls, doors,
windows, etc.) is the:
Select one:
a. Square foot.
b. Cubic foot.
, c. Unit in place.
d. Quantity survey. ---------CORRECT ANSWER-----------------c. Unit in
place.
A strip center is also known as a:
Select one:
a. Neighborhood center;
b. Community center;
c. Regional mall;
d. Convenience center; ---------CORRECT ANSWER-----------------d.
Convenience center;
When is it especially important to "stabilize" the net operating income when
using the capitalization approach to appraisal?
Select one:
a. When valuing a new building.
b. When the net operating income has had wide variations over the past
several years.
c. When net operating income is below expectations.
d. When expenses have been lower than expected for the past several
years. ---------CORRECT ANSWER-----------------Stabilizing the net
operating income is especially important when it has had wide variations
over the past several years.
The correct answer is: When the net operating income has had wide
variations over the past several years.
A subject property has four bedrooms while a comparable sale has only
three bedrooms. The extra bedroom adds $7,500 to the value of a property
in this neighborhood. The $7,500 adjustment would be:
Select one:
a. Added to the sale price of the subject property.
b. Subtracted from the sale price of the subject property.
c. Added to the sale price of the comparable sale.
EXAM 2025 | QUESTIONS AND CORRECT
ANSWERS | VERIFIED ANSWERS | GRADED A+
What is the impact of the "strict liability" standard for cleanup of
environmental contamination?
Select one:
a. It means that the current and all past owners of a property must share in
the clean-up costs of any contamination.
b. It means that only the owner which caused the contamination is liable for
the clean-up costs of any contamination.
c. It means that the current owner is responsible for the clean-up costs of
any contamination regardless of which owner caused the contamination.
d. It means that no owner is responsible for the clean-up costs of any
contamination unless it can be determined who was responsible for the
contamination. ---------CORRECT ANSWER-----------------c. It means that
the current owner is responsible for the clean-up costs of any
contamination regardless of which owner caused the contamination.
The most common type of industrial property in the United States is:
Select one:
a. Distribution centers;
b. Warehouses;
c. Light industrial;
d. Flex buildings.
Feedback
The most common type of industrial property in the United States is light
industrial.
The correct answer is: Light industrial; ---------CORRECT ANSWER-----------
------c. Light industrial;
,A subject property has 1,500 square feet of living space. A nearby
comparable sale has 1,650 square feet of living space. The appropriate
adjustment would be $5,000. This adjustment would be:
Select one:
a. Added to the sale price of the subject property.
b. Subtracted from the sale price of the subject property.
c. Added to the sale price of the comparable sale.
d. Subtracted from the sale price of the comparable sale. ---------CORRECT
ANSWER-----------------d. Subtracted from the sale price of the comparable
sale.
After an appraiser has made the appropriate adjustments when using the
sales comparison approach, the appraiser will:
Select one:
a. Reconcile the indicated values.
b. Average the indicated values.
c. Stabilize the indicated values.
d. Find the mean of the indicated values. ---------CORRECT ANSWER-------
----------a. Reconcile the indicated values.
Which of the following types of retail centers would draw its customers from
the population within 3 miles of the store?
Select one:
a. Strip center;
b. Neighborhood center;
c. Community center;
d. Regional mall. ---------CORRECT ANSWER-----------------b. Neighborhood
center;
What is subtracted from potential gross income to arrive at the effective
gross income in a commercial building?
Select one:
a. Vacancy losses only.
b. Collection losses only.
,c. Neither vacancy losses nor collection losses.
d. Both vacancy losses and collection losses. ---------CORRECT ANSWER-
----------------d. Both vacancy losses and collection losses.
What is an estoppel certificate?
Select one:
a. It is the first step in the eviction process.
b. It is a written statement signed by a tenant stating what rent the tenant
pays.
c. It is a statement from the property manager stating what rent is paid for a
particular unit.
d. It is a statement from the buyer to the tenant stating what rent will be
charged upon closing of the transaction. ---------CORRECT ANSWER--------
---------An estoppel certificate is a written statement signed by a tenant
stating the amount of rent being paid by the tenant.
The correct answer is: It is a written statement signed by a tenant stating
what rent the tenant pays.
The method of estimating construction costs that totals the raw materials
required, the labor costs, management costs and a profit allowance is
known as the:
Select one:
a. Square foot.
b. Cubic foot.
c. Unit in place.
d. Quantity survey. ---------CORRECT ANSWER-----------------d. Quantity
survey.
The method of estimating construction costs that estimates the installed
cost of each component part of the structure (such as walls, doors,
windows, etc.) is the:
Select one:
a. Square foot.
b. Cubic foot.
, c. Unit in place.
d. Quantity survey. ---------CORRECT ANSWER-----------------c. Unit in
place.
A strip center is also known as a:
Select one:
a. Neighborhood center;
b. Community center;
c. Regional mall;
d. Convenience center; ---------CORRECT ANSWER-----------------d.
Convenience center;
When is it especially important to "stabilize" the net operating income when
using the capitalization approach to appraisal?
Select one:
a. When valuing a new building.
b. When the net operating income has had wide variations over the past
several years.
c. When net operating income is below expectations.
d. When expenses have been lower than expected for the past several
years. ---------CORRECT ANSWER-----------------Stabilizing the net
operating income is especially important when it has had wide variations
over the past several years.
The correct answer is: When the net operating income has had wide
variations over the past several years.
A subject property has four bedrooms while a comparable sale has only
three bedrooms. The extra bedroom adds $7,500 to the value of a property
in this neighborhood. The $7,500 adjustment would be:
Select one:
a. Added to the sale price of the subject property.
b. Subtracted from the sale price of the subject property.
c. Added to the sale price of the comparable sale.
