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MCKISSOCK HIGHEST & BEST USE QUESTIONS WITH COMPLETE ANSWERS

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MCKISSOCK HIGHEST & BEST USE QUESTIONS WITH COMPLETE ANSWERS

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The _____________ is the simplest measure of dispersion.


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Range

,If 200 new homes are sold in Newtown in a single year, and XYZ Homes sold 40 of them,
what is XYZ's capture rate?


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20%




If a building does not represent the highest and best use of the land as vacant:
The building may suffer functional obsolescence
The building may have no contributory value to the land
The building may have a negative value
Any of the above


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Any of the above




When do improvements add the most value to a property?


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When the property is used for its highest and best use




When analyzing legal permissibility, what should an appraiser consider?

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Covenants, conditions, and restrictions




___________________ is the net income attributed to the land remaining after the costs of the
agents of production have been paid.


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Surplus Productivity




Market delineation defines the _____________ demand for a specific property.


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Geographic




Applications for GIS software include:


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Evaluation of places for location of new stores

, In deciding which highest and best use test constraint to apply first, an appraiser may
find it helpful to:


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Apply the restrictive covenant first




Demolition illustrates the difference between Economic life and ___________ life.


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Physical




What is the appraiser's opinion of site value based on?


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The property's highest and best use




Level __ market analysis projects future growth.


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