Quiz_________________?
1. Principal of Balance -
Answers✅
value is created and sustained where there is equilibrium
Quiz_________________?
10. Principal of Substitution -
Answers✅
a buyer will pay no more for a property than the cost of acquiring a similar and equally
desirable property
Quiz_________________?
11. Principal of Contribution -
Answers✅
value of a property attribute relates to the value it adds to the overall value of the property.
basis by which adjustments are made to the sale prices of comparable properties
Quiz_________________?
1
, 12. Principal of Progression -
Answers✅
properties in the same area are dissimilar, the property with the lesser value will be
enhanced in value its proximity to properties of greater value.
Quiz_________________?
13. Principal of Regression -
Answers✅
where properties in the same area are dissimilar, the property with the greater value will be
adversely affected in value by its proximity to properties of lesser value
Quiz_________________?
14. Principal of Anticipation -
Answers✅
value is created for the buyer by the expectation of future benefits, whether based on
money or amenities
Quiz_________________?
2. Principal of Change -
Answers✅
economic, political, and social forces are constantly in play and contribute to the dynamic
nature of property values
Quiz_________________?
3. Principal of Competition -
Answers✅
2
, excessive profits breed opportunities which then tend to destroy those profits
Quiz_________________?
4. Principal of Consistent Use -
Answers✅
when improved land is in transition to another highest and best use, one use cannot be
allocated to the land and another allocated to the building
Quiz_________________?
5. Principal of External Factors -
Answers✅
various factors beyond the property itself can impact its value and these factors may include
economic, political, social and physical issues
Quiz_________________?
6. Principal of Increasing/decreasing return -
Answers✅
capital improvements add value to a property to a certain point
Quiz_________________?
7. Principal of Surplus productivity -
Answers✅
factors of production that generate net income, which is then attributed to the land and
tends to set the value
3
, Quiz_________________?
8. Principal of Supply and Demand -
Answers✅
market value is determined by the interaction of market forces such as the quantity of
available properties and the interest of buyers able to purchase them
Quiz_________________?
9. Principal of highest and best use -
Answers✅
considers legal permissibility, physical possibility, financial feasibility and maximum
productivity
Quiz_________________?
Administrative penalties -
Answers✅
- actions breached a section of rules and deemed potentially serious
Quiz_________________?
Advisory Notes -
Answers✅
Technical breach of legislation
- ex. forgetting brokerage name on marketing
Quiz_________________?
4
1. Principal of Balance -
Answers✅
value is created and sustained where there is equilibrium
Quiz_________________?
10. Principal of Substitution -
Answers✅
a buyer will pay no more for a property than the cost of acquiring a similar and equally
desirable property
Quiz_________________?
11. Principal of Contribution -
Answers✅
value of a property attribute relates to the value it adds to the overall value of the property.
basis by which adjustments are made to the sale prices of comparable properties
Quiz_________________?
1
, 12. Principal of Progression -
Answers✅
properties in the same area are dissimilar, the property with the lesser value will be
enhanced in value its proximity to properties of greater value.
Quiz_________________?
13. Principal of Regression -
Answers✅
where properties in the same area are dissimilar, the property with the greater value will be
adversely affected in value by its proximity to properties of lesser value
Quiz_________________?
14. Principal of Anticipation -
Answers✅
value is created for the buyer by the expectation of future benefits, whether based on
money or amenities
Quiz_________________?
2. Principal of Change -
Answers✅
economic, political, and social forces are constantly in play and contribute to the dynamic
nature of property values
Quiz_________________?
3. Principal of Competition -
Answers✅
2
, excessive profits breed opportunities which then tend to destroy those profits
Quiz_________________?
4. Principal of Consistent Use -
Answers✅
when improved land is in transition to another highest and best use, one use cannot be
allocated to the land and another allocated to the building
Quiz_________________?
5. Principal of External Factors -
Answers✅
various factors beyond the property itself can impact its value and these factors may include
economic, political, social and physical issues
Quiz_________________?
6. Principal of Increasing/decreasing return -
Answers✅
capital improvements add value to a property to a certain point
Quiz_________________?
7. Principal of Surplus productivity -
Answers✅
factors of production that generate net income, which is then attributed to the land and
tends to set the value
3
, Quiz_________________?
8. Principal of Supply and Demand -
Answers✅
market value is determined by the interaction of market forces such as the quantity of
available properties and the interest of buyers able to purchase them
Quiz_________________?
9. Principal of highest and best use -
Answers✅
considers legal permissibility, physical possibility, financial feasibility and maximum
productivity
Quiz_________________?
Administrative penalties -
Answers✅
- actions breached a section of rules and deemed potentially serious
Quiz_________________?
Advisory Notes -
Answers✅
Technical breach of legislation
- ex. forgetting brokerage name on marketing
Quiz_________________?
4
