Real /
Estate
/ /
Appraisals
/ /
Exam 2 Questions With Correct Answers
/ // // // // //
1. //The //sales //comparison //(or //market //data) //approach //is:
a. //The //most //direct //of //the //value //approaches
b. //The //most //easily //understood //approach
c. //Based //on //the //principle //of //substitution
d. //All //of //the //above //- //CORRECT //ANSWERS(S)✔✔d. //All //of //the //above
2. /
/All /
/of //the //following //would //be //considered //in //the //cost //approach //appraisal //method //EXCEPT:
a. //Operating //expenses
b. //Depreciation
c. //Land //value
d. //Replacement //cost
e. //b //& //d //- //CORRECT //ANSWERS(S)✔✔a. //Operating //expenses
3. //Which //of //the //following //BEST //describes //the //concept //of //highest //and //best //use?
a. //Gross //return //which //has //the //highest //amount //over //the //holding //period
b. //Natural //and //legal //use
c. //Greatest //overall //value //of //the //property
,d. /
/That /
/use /
/which /
/has /
/the /
/highest /
/return /
/on /
/any /
/physically /
/probable //use //- //CORRECT //ANSWERS(S)✔✔c. //Greatest //overall //value //of //the //property
4. //A //word //or //phrase //used //to //describe //components //of //a //home //that //are //out //of //style //is:
a. //Dated
b. //To //vogue //
c. //Ugly //
d. //Not //done //- //CORRECT //ANSWERS(S)✔✔a. //Dated
5. //A //wood //framed //exterior //wall //with //brick //siding //is //best //known //as:
a. //Block //masonry //wall
b. //Masonry //wall
c. //Class //C //construction
d. //Brick //veneer //- //CORRECT //ANSWERS(S)✔✔d. //Brick //veneer
7. //The //most //common //type //of //residential //roof //cover //is:
a. //Asphalt //roll //roofing
b. //Comprehensive //shingles
c. //Up //and //grooved
d. //Built-up //composition //- //CORRECT //ANSWERS(S)✔✔b. //Comprehensive //shingles
, 8. //An //appraiser //measuring //the //living //area //of //a //house //would //use //the:
a. //Exterior //dimensions //of //above //grade //and //before //grade //structure
b. //Exterior //dimensions //of //above //grade //structure
c. //Room //sizes
d. /
/Interior /
/dimensions, /
/excluding /
/porches //- //CORRECT //ANSWERS(S)✔✔b. //Exterior //dimensions //of //above //grade //structure
9. //Which //of //the //following //facts //might //be //classified //as //functional //obsolescence?
a. //The //exterior //needs //painting
b. //The //property //backs-up //to //a //busy //expressway //
c. //The //property //has //a //single //car //garage
d. /
/The /
/neighborhood /
/is //50 //years //old //- //CORRECT //ANSWERS(S)✔✔c. //The //property //has //a //single //car //garage
10. //
A/
/church /
/of //a //unique //design //and //construction //is //BEST //appraised //by //which //of //the //following?
a. //Income
b. //Market //comparison
c. //Land //residual
d. //Cost
e. //All //of //the //above //- //CORRECT //ANSWERS(S)✔✔d. //Cost
Estate
/ /
Appraisals
/ /
Exam 2 Questions With Correct Answers
/ // // // // //
1. //The //sales //comparison //(or //market //data) //approach //is:
a. //The //most //direct //of //the //value //approaches
b. //The //most //easily //understood //approach
c. //Based //on //the //principle //of //substitution
d. //All //of //the //above //- //CORRECT //ANSWERS(S)✔✔d. //All //of //the //above
2. /
/All /
/of //the //following //would //be //considered //in //the //cost //approach //appraisal //method //EXCEPT:
a. //Operating //expenses
b. //Depreciation
c. //Land //value
d. //Replacement //cost
e. //b //& //d //- //CORRECT //ANSWERS(S)✔✔a. //Operating //expenses
3. //Which //of //the //following //BEST //describes //the //concept //of //highest //and //best //use?
a. //Gross //return //which //has //the //highest //amount //over //the //holding //period
b. //Natural //and //legal //use
c. //Greatest //overall //value //of //the //property
,d. /
/That /
/use /
/which /
/has /
/the /
/highest /
/return /
/on /
/any /
/physically /
/probable //use //- //CORRECT //ANSWERS(S)✔✔c. //Greatest //overall //value //of //the //property
4. //A //word //or //phrase //used //to //describe //components //of //a //home //that //are //out //of //style //is:
a. //Dated
b. //To //vogue //
c. //Ugly //
d. //Not //done //- //CORRECT //ANSWERS(S)✔✔a. //Dated
5. //A //wood //framed //exterior //wall //with //brick //siding //is //best //known //as:
a. //Block //masonry //wall
b. //Masonry //wall
c. //Class //C //construction
d. //Brick //veneer //- //CORRECT //ANSWERS(S)✔✔d. //Brick //veneer
7. //The //most //common //type //of //residential //roof //cover //is:
a. //Asphalt //roll //roofing
b. //Comprehensive //shingles
c. //Up //and //grooved
d. //Built-up //composition //- //CORRECT //ANSWERS(S)✔✔b. //Comprehensive //shingles
, 8. //An //appraiser //measuring //the //living //area //of //a //house //would //use //the:
a. //Exterior //dimensions //of //above //grade //and //before //grade //structure
b. //Exterior //dimensions //of //above //grade //structure
c. //Room //sizes
d. /
/Interior /
/dimensions, /
/excluding /
/porches //- //CORRECT //ANSWERS(S)✔✔b. //Exterior //dimensions //of //above //grade //structure
9. //Which //of //the //following //facts //might //be //classified //as //functional //obsolescence?
a. //The //exterior //needs //painting
b. //The //property //backs-up //to //a //busy //expressway //
c. //The //property //has //a //single //car //garage
d. /
/The /
/neighborhood /
/is //50 //years //old //- //CORRECT //ANSWERS(S)✔✔c. //The //property //has //a //single //car //garage
10. //
A/
/church /
/of //a //unique //design //and //construction //is //BEST //appraised //by //which //of //the //following?
a. //Income
b. //Market //comparison
c. //Land //residual
d. //Cost
e. //All //of //the //above //- //CORRECT //ANSWERS(S)✔✔d. //Cost
