Appraisal Subject Matter Electives Latest Update
2025-2026 350 Questions and 100% Verified
Correct Answers Guaranteed A+
___________________ is the additional or incremental risk of investing in, financing,
buying and/or owning property attributable to its environmental condition.
1) Diminution in value
2) Environmental contamination
3) Environmental risk
4) Bonus value - CORRECT ANSWER: Environmental risk
______________housing is a generic term that includes any form of housing that is
manufactured by precision techniques in a factory setting and then transported to the
building site for final assembly.
1) Factory built
2) Manufactured
3) Modular
4) Pre-cast - CORRECT ANSWER: Factory built
"Income from the operation of a business or the management of property, customarily
stated on an annual basis" is the definition of __________ income.
1) Net
2) Net operating
3) Gross
4) Other - CORRECT ANSWER: Gross
"One in which the property to be appraised, the form of ownership, or market conditions
are atypical." is the definition of a ______________ property.
,1) complicated
2) competitive
3) complex
4) multi-unit - CORRECT ANSWER: complex
"The difference between the unimpaired and
impaired values of the property being appraised" is the definition of
1) impaired value
2) diminution in value
3) opportunity cost
4) remediation cost - CORRECT ANSWER: diminution in value
"The market value of the property being appraised with full consideration of the effects
of its environmental condition and the presence of environmental contamination on,
adjacent to, or proximate to the property" is the definition of
1) Remediated value
2) Stigma value
3) Impaired value
4) As-repaired value - CORRECT ANSWER: impaired value
"The periodic expenditures necessary to maintain the real estate and continue
production of the Effective Gross Income, assuming prudent and competent
management" is the definition of ______________.
1) cash flow
2) total operating expenses
3) operating expenses
4) gross operating expenses - CORRECT ANSWER: operating expenses
,"The practice of creating structures and using processes that are environmentally
responsible and resource-efficient" is the definition of:
1) political correctness
2) green building
3) structural sustainability
4) life-cycle cost accounting - CORRECT ANSWER: green building
"The sum of all fixed and variable operating expenses and the replacement allowance
cited in the appraiser's operating expense estimate" is the definition of _____________
expenses.
1) net
2) total operating
3) reserve
4) gross operating - CORRECT ANSWER: total operating
A ________ value can be extracted from another market, another price range
(expressed as a percentage), or from old sales.
1) Bonus
2) Green
3) Market
4) Survey - CORRECT ANSWER: Bonus
A manufactured home that is delivered in three
sections is called a
1) tagalong
2) double-wide
3) multi-section
4) tip-out - CORRECT ANSWER: multi-section
, A marriage wall is a characteristic of a ____________ home.
1) pre-cut
2) panelized
3) modular
4) log - CORRECT ANSWER: modular
A property has four units. 2 are rented for $700, 1 for $725, and 1 for $775. The market
rent for each unit is $750 per month. The indicated GRM is 118. What is the indicated
value for the subject by the income approach?
1) $342,200
2) $345,000
3) $354,000
4) $360,000 - CORRECT ANSWER: $354,000
MARKET RENT
A structural system composed of a core of rigid foam insulation laminated between two
layers of structural board is called an
1) OSB
2) RFP
3) SIP
4) FRB - CORRECT ANSWER: SIP
About ______ of manufactured houses today are on rented land.
1) 10%
2) 25%
3) 50%
4) 75% - CORRECT ANSWER: 50%
2025-2026 350 Questions and 100% Verified
Correct Answers Guaranteed A+
___________________ is the additional or incremental risk of investing in, financing,
buying and/or owning property attributable to its environmental condition.
1) Diminution in value
2) Environmental contamination
3) Environmental risk
4) Bonus value - CORRECT ANSWER: Environmental risk
______________housing is a generic term that includes any form of housing that is
manufactured by precision techniques in a factory setting and then transported to the
building site for final assembly.
1) Factory built
2) Manufactured
3) Modular
4) Pre-cast - CORRECT ANSWER: Factory built
"Income from the operation of a business or the management of property, customarily
stated on an annual basis" is the definition of __________ income.
1) Net
2) Net operating
3) Gross
4) Other - CORRECT ANSWER: Gross
"One in which the property to be appraised, the form of ownership, or market conditions
are atypical." is the definition of a ______________ property.
,1) complicated
2) competitive
3) complex
4) multi-unit - CORRECT ANSWER: complex
"The difference between the unimpaired and
impaired values of the property being appraised" is the definition of
1) impaired value
2) diminution in value
3) opportunity cost
4) remediation cost - CORRECT ANSWER: diminution in value
"The market value of the property being appraised with full consideration of the effects
of its environmental condition and the presence of environmental contamination on,
adjacent to, or proximate to the property" is the definition of
1) Remediated value
2) Stigma value
3) Impaired value
4) As-repaired value - CORRECT ANSWER: impaired value
"The periodic expenditures necessary to maintain the real estate and continue
production of the Effective Gross Income, assuming prudent and competent
management" is the definition of ______________.
1) cash flow
2) total operating expenses
3) operating expenses
4) gross operating expenses - CORRECT ANSWER: operating expenses
,"The practice of creating structures and using processes that are environmentally
responsible and resource-efficient" is the definition of:
1) political correctness
2) green building
3) structural sustainability
4) life-cycle cost accounting - CORRECT ANSWER: green building
"The sum of all fixed and variable operating expenses and the replacement allowance
cited in the appraiser's operating expense estimate" is the definition of _____________
expenses.
1) net
2) total operating
3) reserve
4) gross operating - CORRECT ANSWER: total operating
A ________ value can be extracted from another market, another price range
(expressed as a percentage), or from old sales.
1) Bonus
2) Green
3) Market
4) Survey - CORRECT ANSWER: Bonus
A manufactured home that is delivered in three
sections is called a
1) tagalong
2) double-wide
3) multi-section
4) tip-out - CORRECT ANSWER: multi-section
, A marriage wall is a characteristic of a ____________ home.
1) pre-cut
2) panelized
3) modular
4) log - CORRECT ANSWER: modular
A property has four units. 2 are rented for $700, 1 for $725, and 1 for $775. The market
rent for each unit is $750 per month. The indicated GRM is 118. What is the indicated
value for the subject by the income approach?
1) $342,200
2) $345,000
3) $354,000
4) $360,000 - CORRECT ANSWER: $354,000
MARKET RENT
A structural system composed of a core of rigid foam insulation laminated between two
layers of structural board is called an
1) OSB
2) RFP
3) SIP
4) FRB - CORRECT ANSWER: SIP
About ______ of manufactured houses today are on rented land.
1) 10%
2) 25%
3) 50%
4) 75% - CORRECT ANSWER: 50%
