Texas Principles of Real Estate 2 Exam Questions with
100% Correct Answers Latest 2025
Terms in this set (158)
The approach used as the best B
indicator of value for existing
properties.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
Refers to the loss in desirability A
of the style, layout, or function
of an element of a
property over time.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
,The price a willing seller will D
sell for, and the price a
willing buyer will pay.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The legal use for property that C
gives the
greatest return in money and/or
amenities.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The loss in value of a property E
caused by factors outside of
the property itself.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The appraised value of a property B
is:
a.The sale price
b. An opinion of value
c. A market analysis
d. The market value of a property
A "lite" appraisal is often referred A
to as a(n):
a. Drive-by appraisal
b. Full appraisal
,c. Appraisal
review
d. Summary appraisal
In the appraisal report, the D
property being appraised is
referred to as the
___________________.
a.Target property
b. Comparable property
c. Sold property
d. Subject property
, A homeowner added a swimming D
pool to a home at a cost of
$75,000. During an
appraisal, the appraiser
determined that the pool added
$55,000 to the value of the
property. In this case, the
appraiser was
applying the principle of___in the
analysis.
a. Anticipation
b. Change
c. Substitution
d. Contribution
An appraisal has a limited B
"shelf life" because of the
principle of
________________________
_.
a. Anticipation
b. Change
c. Substitution
d. Contribution
The legal use of a property B
that gives the greatest return
in money and/or amenities is
known as the property's___.
a. Net adjusted value
b. Highest and best use
c. Going concern value
d. Assessed value
The value of a property can B
automatically be inferred from
the prices at which other
similar properties have sold.
100% Correct Answers Latest 2025
Terms in this set (158)
The approach used as the best B
indicator of value for existing
properties.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
Refers to the loss in desirability A
of the style, layout, or function
of an element of a
property over time.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
,The price a willing seller will D
sell for, and the price a
willing buyer will pay.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The legal use for property that C
gives the
greatest return in money and/or
amenities.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The loss in value of a property E
caused by factors outside of
the property itself.
a. functionalobsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence
The appraised value of a property B
is:
a.The sale price
b. An opinion of value
c. A market analysis
d. The market value of a property
A "lite" appraisal is often referred A
to as a(n):
a. Drive-by appraisal
b. Full appraisal
,c. Appraisal
review
d. Summary appraisal
In the appraisal report, the D
property being appraised is
referred to as the
___________________.
a.Target property
b. Comparable property
c. Sold property
d. Subject property
, A homeowner added a swimming D
pool to a home at a cost of
$75,000. During an
appraisal, the appraiser
determined that the pool added
$55,000 to the value of the
property. In this case, the
appraiser was
applying the principle of___in the
analysis.
a. Anticipation
b. Change
c. Substitution
d. Contribution
An appraisal has a limited B
"shelf life" because of the
principle of
________________________
_.
a. Anticipation
b. Change
c. Substitution
d. Contribution
The legal use of a property B
that gives the greatest return
in money and/or amenities is
known as the property's___.
a. Net adjusted value
b. Highest and best use
c. Going concern value
d. Assessed value
The value of a property can B
automatically be inferred from
the prices at which other
similar properties have sold.
