RPA LEVEL IV PRACTICE EXAMINATION
QUESTIONS WITH CORRECT ANSWERS
THE |APPRAISAL |PHASE |INCLUDES |WHICH |FUNCTION |- |CORRECT |ANSWER✔✔-administration |of
|exemptions
THE |PROCESS |OR |RECORDING |PROPERTY |CHARACTERISTICS |IN |THE |APPRAISAL |DISTRICT |IS |
CALLED |- |CORRECT |ANSWER✔✔-listing
THE |10% |CAP |ON |APPRAISAL |INCREASES |APPLIES |TO |- |CORRECT |ANSWER✔✔-all |residence |
homesteads
what |best |describes |taxable |value |- |CORRECT |ANSWER✔✔-appraised |value |less |the |total |
amount |of |exemptions |that |apply
the |phase |in |which |the |governing |body |sets |the |tax |rate |is |- |CORRECT |ANSWER✔✔-
assessment
in |most |counties, |the |appraisal |review |board |must |complete |substantially |all |hearing |and |
approve |the |appraisal |records |by |- |CORRECT |ANSWER✔✔-july |20th
if |a |taxing |unit |wants |to |generate |a |levy |of |$50,000 |and |its |total |taxable |value |is |$20,000,000, |
what |tax |rate |must |it |impose |- |CORRECT |ANSWER✔✔-.25 |per |100
"accepted |appraisal |practice" |mean |producing |an |estimate |of |value |through |- |CORRECT |
ANSWER✔✔-orderly |set |of |steps |which |eliminate |bias |and |enable |testing
, land |value |may |be |estimated |using |the |- |CORRECT |ANSWER✔✔-market |or |income |approach
best |explains |the |bundle |of |rights |- |CORRECT |ANSWER✔✔-total |ownership |of |property |
consists |of |owning |a |number |of |distinct |and |separable |rights
the |chief |appraiser |must |, |under |law, |use |the |income |approach |when |appraising |- |CORRECT |
ANSWER✔✔-properties |that |qualify |for |special- |use |valuation
you |must |always |adjust, |or |consider |adjusting, |the |value |schedule |to |reflect |the |subjects |
propertys |- |CORRECT |ANSWER✔✔-depreciation
most |appraisal |districts |base |value |schedules |for |residential |properties |on |a |combination |of |- |
CORRECT |ANSWER✔✔-cost |approach |and |market |approach
when |the |most |probable |use |of |a |property |is |a |single-family |residential, |the |use |is |- |CORRECT |
ANSWER✔✔-consumptive
cash |equivalency |analysis |requires |adjusting |the |sales |price |of |a |comparable |- |CORRECT |
ANSWER✔✔-seller |pays |points |on |the |buyers |new |loan |to |provide |the |buyer |with |a |below |
market |interest |rate
which |of |the |following |statements |best |explains |"value |in |use" |- |CORRECT |ANSWER✔✔-value |
is |estimated |based |upon |a |specific |land |use |for |the |property
which |of |the |following |explains |the |theory |of |consistent |use? |- |CORRECT |ANSWER✔✔-the |use |
of |the |improvement |must |be |the |same |as |the |use |creating |the |lands |value
QUESTIONS WITH CORRECT ANSWERS
THE |APPRAISAL |PHASE |INCLUDES |WHICH |FUNCTION |- |CORRECT |ANSWER✔✔-administration |of
|exemptions
THE |PROCESS |OR |RECORDING |PROPERTY |CHARACTERISTICS |IN |THE |APPRAISAL |DISTRICT |IS |
CALLED |- |CORRECT |ANSWER✔✔-listing
THE |10% |CAP |ON |APPRAISAL |INCREASES |APPLIES |TO |- |CORRECT |ANSWER✔✔-all |residence |
homesteads
what |best |describes |taxable |value |- |CORRECT |ANSWER✔✔-appraised |value |less |the |total |
amount |of |exemptions |that |apply
the |phase |in |which |the |governing |body |sets |the |tax |rate |is |- |CORRECT |ANSWER✔✔-
assessment
in |most |counties, |the |appraisal |review |board |must |complete |substantially |all |hearing |and |
approve |the |appraisal |records |by |- |CORRECT |ANSWER✔✔-july |20th
if |a |taxing |unit |wants |to |generate |a |levy |of |$50,000 |and |its |total |taxable |value |is |$20,000,000, |
what |tax |rate |must |it |impose |- |CORRECT |ANSWER✔✔-.25 |per |100
"accepted |appraisal |practice" |mean |producing |an |estimate |of |value |through |- |CORRECT |
ANSWER✔✔-orderly |set |of |steps |which |eliminate |bias |and |enable |testing
, land |value |may |be |estimated |using |the |- |CORRECT |ANSWER✔✔-market |or |income |approach
best |explains |the |bundle |of |rights |- |CORRECT |ANSWER✔✔-total |ownership |of |property |
consists |of |owning |a |number |of |distinct |and |separable |rights
the |chief |appraiser |must |, |under |law, |use |the |income |approach |when |appraising |- |CORRECT |
ANSWER✔✔-properties |that |qualify |for |special- |use |valuation
you |must |always |adjust, |or |consider |adjusting, |the |value |schedule |to |reflect |the |subjects |
propertys |- |CORRECT |ANSWER✔✔-depreciation
most |appraisal |districts |base |value |schedules |for |residential |properties |on |a |combination |of |- |
CORRECT |ANSWER✔✔-cost |approach |and |market |approach
when |the |most |probable |use |of |a |property |is |a |single-family |residential, |the |use |is |- |CORRECT |
ANSWER✔✔-consumptive
cash |equivalency |analysis |requires |adjusting |the |sales |price |of |a |comparable |- |CORRECT |
ANSWER✔✔-seller |pays |points |on |the |buyers |new |loan |to |provide |the |buyer |with |a |below |
market |interest |rate
which |of |the |following |statements |best |explains |"value |in |use" |- |CORRECT |ANSWER✔✔-value |
is |estimated |based |upon |a |specific |land |use |for |the |property
which |of |the |following |explains |the |theory |of |consistent |use? |- |CORRECT |ANSWER✔✔-the |use |
of |the |improvement |must |be |the |same |as |the |use |creating |the |lands |value
