©THESTAR 2025 ALL RIGHTS RESERVED 11:44 AM A+
Basic Appraisal Principles Ch. 5 Questions
And Answers |Latest 2025 | Guaranteed Pass.
"An identified parcel or tract of land, including improvements, if any" is the definition of?
A) Real Property
B) Private property
C) Land
D) Real Estate - Answer✔D) Real Estate
Modern definitions of the word "appraisal" have replaced the word _______ with ________.
A) Price, Cost
B)Estimate, Opinion
C) Value, Cost
D) Opinion, Estimate - Answer✔B)Estimate, Opinion
Property Owner A has the right to develop his property into 10 lots. He sells this right to nearby
Property Owner B who wishes to develop his property into additional lots. This is an example
of...
A) vertical rights
B) passive rights
C) temporary rights
D) transferable development rights - Answer✔D) Transferable development rights
"The party or parties who engage, by employment or contract, an appraiser in a specific
assignment" is the definition of
A) Customer
B) Intended user
C) Manager
D) Client - Answer✔D) Client
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, ©THESTAR 2025 ALL RIGHTS RESERVED 11:44 AM A+
T/F: By exercising one of his/her bundle of rights, a property owner may be giving up another
one of those rights from the bundle. - Answer✔TRUE
Which of these would be considered a public restriction on real property ownership?
A) Zoning
B) Escheat
C) Environment laws
D) Building codes - Answer✔B) Escheat
"A development right that cannot be used by the landowner, or that the owner chooses not to
use, but can be sold to landowners in another location" are called ___________________
rights.
D) vertical
C) passive
B) temporary
A) transferable development - Answer✔A) transferable development
"The interests, benefits, and rights, inherent in the ownership of real estate" is the definition of
A) real estate
B) personal property
C) real property
D) intangible property - Answer✔C) real property
If you were to die intestate, which means without a will, and there were no provable heirs;
ownership of the property would revert to the state. The state would turn around and sell the
property.
This is the definition of
A) Eminent domain
B) Escheat
C) Survivorship
D) Repossession - Answer✔B) Escheat
"A document or a clause in a document in which the borrower accepts responsibility for the
repayment of a debt." is the definition of a
2|Page
Basic Appraisal Principles Ch. 5 Questions
And Answers |Latest 2025 | Guaranteed Pass.
"An identified parcel or tract of land, including improvements, if any" is the definition of?
A) Real Property
B) Private property
C) Land
D) Real Estate - Answer✔D) Real Estate
Modern definitions of the word "appraisal" have replaced the word _______ with ________.
A) Price, Cost
B)Estimate, Opinion
C) Value, Cost
D) Opinion, Estimate - Answer✔B)Estimate, Opinion
Property Owner A has the right to develop his property into 10 lots. He sells this right to nearby
Property Owner B who wishes to develop his property into additional lots. This is an example
of...
A) vertical rights
B) passive rights
C) temporary rights
D) transferable development rights - Answer✔D) Transferable development rights
"The party or parties who engage, by employment or contract, an appraiser in a specific
assignment" is the definition of
A) Customer
B) Intended user
C) Manager
D) Client - Answer✔D) Client
1|Page
, ©THESTAR 2025 ALL RIGHTS RESERVED 11:44 AM A+
T/F: By exercising one of his/her bundle of rights, a property owner may be giving up another
one of those rights from the bundle. - Answer✔TRUE
Which of these would be considered a public restriction on real property ownership?
A) Zoning
B) Escheat
C) Environment laws
D) Building codes - Answer✔B) Escheat
"A development right that cannot be used by the landowner, or that the owner chooses not to
use, but can be sold to landowners in another location" are called ___________________
rights.
D) vertical
C) passive
B) temporary
A) transferable development - Answer✔A) transferable development
"The interests, benefits, and rights, inherent in the ownership of real estate" is the definition of
A) real estate
B) personal property
C) real property
D) intangible property - Answer✔C) real property
If you were to die intestate, which means without a will, and there were no provable heirs;
ownership of the property would revert to the state. The state would turn around and sell the
property.
This is the definition of
A) Eminent domain
B) Escheat
C) Survivorship
D) Repossession - Answer✔B) Escheat
"A document or a clause in a document in which the borrower accepts responsibility for the
repayment of a debt." is the definition of a
2|Page
