Real Estate Appraisal Final Practice
Exam-Graded A
When Scheduled rent is less than market rent, a tenant may benefit by creation of a -
ANSWER-sandwich lease
A rectangular shaped building that is 35 feet wide and 55 feet long has a perimeter of -
ANSWER-180 feet
In the U.S. Government survey system, a one square mile area, or 640 acres, is called
a - ANSWER-section
A time share is always - ANSWER-a right to use property
Deterioration of a building walls and ceilings is considered - ANSWER-long lived
incurable
Deterioration of a building foundation is considered - ANSWER-long lived incurable
Which of the following terms refers to the rights of a person who owns a piece of
property but lease it to someone else - ANSWER-Leased fee estate
the cost to pave a driveway that is 330 feet by 18 feet , at $8.25 per square yard, is -
ANSWER-5,445
The value of 100 acres of land best suited for high density residential use may be found
using the - ANSWER-subdivision development method
Matched pairs analysis is used to determine which of these - ANSWER-Value of
adjustments
A property use (as opposed to a building specification) contrary to local zoning
regulations would require which of the following - ANSWER-Conditional use permit
Under the condominium form of ownership, an owner's interest in an individual unit
would normally be a - ANSWER-fee simple interest
Varying financing terms may be compensated for when considering comparable
properties by using the - ANSWER-Cash equivalency technique
,Generally, gross rent multiplier are used in appraising which of the following -
ANSWER-Single family homes
A house oriented for maximum sunlight in winter will face - ANSWER-south
Between the ground and a foundation slab that rests on piers is (are) the - ANSWER-
crawl space
Which statement is not true with respect to property held in tenancy by the entirety -
ANSWER-There is no right of survivorship
An air conditioning unit of one ton capacity can be rated as - ANSWER-12,000 BTUs
Small outlets evenly spaced around the base of the perimeter of a brick home are called
- ANSWER-weep holes
studs extend continuously to the second floor ceiling in the type of construction called -
ANSWER-ballon frame
A typical neighborhood goes through, in order - ANSWER-growth, equilibrium, decline,
and revitalization
Which of the following statements applies to tenancy in common? - ANSWER-each co-
owner can transfer his or her interest separately
Seventy-four square yards are how many square feet? - ANSWER-666
A building that is 20 yards by 55 yards by 6 yards is how many cubic feet? - ANSWER-
178,200
What is the total area of two adjoining parcels, if one is 65 feet by 180 feet and the other
is 65 feet by 120 feet? - ANSWER-19,500 square feet
The Uniform Residential Appraisal Report form includes use of the - ANSWER-square
foot method of calculating reproduction cost
When using the cost approach, building costs, whether reproduction or replacement, will
be for - ANSWER-a new building at current prices
Direct costs of building construction include - ANSWER-clearing the land
Direct costs of building construction include - ANSWER-supervision
Using the straight-line method, the yearly rate of depreciation of a building with a useful
life of 40 years is - ANSWER-2.5%
, Methods of site valuation include all of the following EXCEPT - ANSWER-quantity
survey
The summation method of appraising is another term for the - ANSWER-cost approach
Which of the following pertain to data collected for an appraisal? - ANSWER-It should
be verified
The GRM is used in the - ANSWER-income approach for single-family homes
Many contemporary-style buildings use - ANSWER-post and beam frame construction
Which one of the following is not required in the income capitalization approach? -
ANSWER-Accrued depreciation
The strength of an electrical current is expressed as - ANSWER-amperage
The formula used in direct capitalization is value
equals - ANSWER-net operating income ÷ cap rate
The capacity of a furnace is rated in - ANSWER-BTUs
In statistical analysis, the mean defines the - ANSWER-average
If office space similar to that being appraised has a typical construction cost of $68.50,
and the regional multiplier for the area is 1.12, what is the estimated construction cost of
office space of 25,000 square feet? - ANSWER-$1,918,000
A warehouse is 50 feet by 100 feet, with walls that are 16 feet high and 8 pre-painted
rolling steel doors that are 12 feet by 12 feet. How much will it cost to paint the exterior
walls of the warehouse at $0.33 per square foot? - ANSWER-$1,269.84
A residence cost $42,350 to construct in 1976. A cost index published at that time was
138. The current cost index from the same cost reporting service is 414. What is the
current reproduction cost of the residence? - ANSWER-$127,050
Using the straight-line method of computing depreciation, a building with a useful life of
45 years will depreciate at what rate per year? - ANSWER-2.22%
The rate that you computed in question 25 is called the - ANSWER-accrued
depreciation rate
If gross income is $38,000 and the GIM is 9.9, the indicated market value is - ANSWER-
$376,200
Exam-Graded A
When Scheduled rent is less than market rent, a tenant may benefit by creation of a -
ANSWER-sandwich lease
A rectangular shaped building that is 35 feet wide and 55 feet long has a perimeter of -
ANSWER-180 feet
In the U.S. Government survey system, a one square mile area, or 640 acres, is called
a - ANSWER-section
A time share is always - ANSWER-a right to use property
Deterioration of a building walls and ceilings is considered - ANSWER-long lived
incurable
Deterioration of a building foundation is considered - ANSWER-long lived incurable
Which of the following terms refers to the rights of a person who owns a piece of
property but lease it to someone else - ANSWER-Leased fee estate
the cost to pave a driveway that is 330 feet by 18 feet , at $8.25 per square yard, is -
ANSWER-5,445
The value of 100 acres of land best suited for high density residential use may be found
using the - ANSWER-subdivision development method
Matched pairs analysis is used to determine which of these - ANSWER-Value of
adjustments
A property use (as opposed to a building specification) contrary to local zoning
regulations would require which of the following - ANSWER-Conditional use permit
Under the condominium form of ownership, an owner's interest in an individual unit
would normally be a - ANSWER-fee simple interest
Varying financing terms may be compensated for when considering comparable
properties by using the - ANSWER-Cash equivalency technique
,Generally, gross rent multiplier are used in appraising which of the following -
ANSWER-Single family homes
A house oriented for maximum sunlight in winter will face - ANSWER-south
Between the ground and a foundation slab that rests on piers is (are) the - ANSWER-
crawl space
Which statement is not true with respect to property held in tenancy by the entirety -
ANSWER-There is no right of survivorship
An air conditioning unit of one ton capacity can be rated as - ANSWER-12,000 BTUs
Small outlets evenly spaced around the base of the perimeter of a brick home are called
- ANSWER-weep holes
studs extend continuously to the second floor ceiling in the type of construction called -
ANSWER-ballon frame
A typical neighborhood goes through, in order - ANSWER-growth, equilibrium, decline,
and revitalization
Which of the following statements applies to tenancy in common? - ANSWER-each co-
owner can transfer his or her interest separately
Seventy-four square yards are how many square feet? - ANSWER-666
A building that is 20 yards by 55 yards by 6 yards is how many cubic feet? - ANSWER-
178,200
What is the total area of two adjoining parcels, if one is 65 feet by 180 feet and the other
is 65 feet by 120 feet? - ANSWER-19,500 square feet
The Uniform Residential Appraisal Report form includes use of the - ANSWER-square
foot method of calculating reproduction cost
When using the cost approach, building costs, whether reproduction or replacement, will
be for - ANSWER-a new building at current prices
Direct costs of building construction include - ANSWER-clearing the land
Direct costs of building construction include - ANSWER-supervision
Using the straight-line method, the yearly rate of depreciation of a building with a useful
life of 40 years is - ANSWER-2.5%
, Methods of site valuation include all of the following EXCEPT - ANSWER-quantity
survey
The summation method of appraising is another term for the - ANSWER-cost approach
Which of the following pertain to data collected for an appraisal? - ANSWER-It should
be verified
The GRM is used in the - ANSWER-income approach for single-family homes
Many contemporary-style buildings use - ANSWER-post and beam frame construction
Which one of the following is not required in the income capitalization approach? -
ANSWER-Accrued depreciation
The strength of an electrical current is expressed as - ANSWER-amperage
The formula used in direct capitalization is value
equals - ANSWER-net operating income ÷ cap rate
The capacity of a furnace is rated in - ANSWER-BTUs
In statistical analysis, the mean defines the - ANSWER-average
If office space similar to that being appraised has a typical construction cost of $68.50,
and the regional multiplier for the area is 1.12, what is the estimated construction cost of
office space of 25,000 square feet? - ANSWER-$1,918,000
A warehouse is 50 feet by 100 feet, with walls that are 16 feet high and 8 pre-painted
rolling steel doors that are 12 feet by 12 feet. How much will it cost to paint the exterior
walls of the warehouse at $0.33 per square foot? - ANSWER-$1,269.84
A residence cost $42,350 to construct in 1976. A cost index published at that time was
138. The current cost index from the same cost reporting service is 414. What is the
current reproduction cost of the residence? - ANSWER-$127,050
Using the straight-line method of computing depreciation, a building with a useful life of
45 years will depreciate at what rate per year? - ANSWER-2.22%
The rate that you computed in question 25 is called the - ANSWER-accrued
depreciation rate
If gross income is $38,000 and the GIM is 9.9, the indicated market value is - ANSWER-
$376,200
