EXAM 2 Real Estate Appraisal (RISK) Questions and Answers Already Passed
1. The data required during the building inspection depends upon
a. The purpose and scope of the appraisal
b. The intended use of the report
c. The value approaches to be emphasized
d. All of the above - Answers D
2. Rating the house for its marketability and appeal involves a judgment of
a. The demands of the market
b. The quality of construction
C. The condition and livability
d. All of the above - Answers D
3. Construction quality is usually rated as either
a. Excellent, good, or average
b. Good, average, fair, or poor
c. Superior or inferior
d. None of the above - Answers B
4. "Effective" age most nearly means
a. Relative condition and marketability for age
b. Original age
c. The difference between original and average age
,d. Average age - Answers A
5. According to FNMA guidelines, the gross living area (square footage) of detached homes should
normally include
a. The square footage of all finished areas
b. The sum of all exterior measurements
c. Only those living areas that are above grade
d. Everything under the roof - Answers C
6. Construction classification refers to the
a. Type of use or occupancy
b. Type of basic frame, wall, floor and roof construction
c. The quality of construction
d. Number of stories in a building - Answers B
7. Class "D" construction can be best identified by its
a. Fireproof frame
b. Wood frame
c. Wood exterior
d. Masonry frame - Answers B
8. Adobe walls were chosen by early builders in the West because of
a. Climate
b. Availability of materials
c. Both a and b
d. None of the above - Answers C
, 9. Good architecture should be most concerned with
a. Pure style
b. Exterior looks, but not floor plan
c. Functional utility
d. Use of expensive materials - Answers C
10. In income properties, functional utility in a structure is measured by design features
a. In demand by tenants
b. That maximize investment return
c. Both of the above
d. None of the above - Answers C
11. Which style features a half-timbered exterior as part of its design?
a. California-Monterey
b. Victorian
c. French Provincial
d. English - Answers D
12. What is the square foot living area of the house shown below?
a. 1,360 c. 1,720
b. 1,200 d. 1,500 - Answers A
The sales comparison (or market) approach is
a. The most direct of the value approaches
b. The most easily understood approach
1. The data required during the building inspection depends upon
a. The purpose and scope of the appraisal
b. The intended use of the report
c. The value approaches to be emphasized
d. All of the above - Answers D
2. Rating the house for its marketability and appeal involves a judgment of
a. The demands of the market
b. The quality of construction
C. The condition and livability
d. All of the above - Answers D
3. Construction quality is usually rated as either
a. Excellent, good, or average
b. Good, average, fair, or poor
c. Superior or inferior
d. None of the above - Answers B
4. "Effective" age most nearly means
a. Relative condition and marketability for age
b. Original age
c. The difference between original and average age
,d. Average age - Answers A
5. According to FNMA guidelines, the gross living area (square footage) of detached homes should
normally include
a. The square footage of all finished areas
b. The sum of all exterior measurements
c. Only those living areas that are above grade
d. Everything under the roof - Answers C
6. Construction classification refers to the
a. Type of use or occupancy
b. Type of basic frame, wall, floor and roof construction
c. The quality of construction
d. Number of stories in a building - Answers B
7. Class "D" construction can be best identified by its
a. Fireproof frame
b. Wood frame
c. Wood exterior
d. Masonry frame - Answers B
8. Adobe walls were chosen by early builders in the West because of
a. Climate
b. Availability of materials
c. Both a and b
d. None of the above - Answers C
, 9. Good architecture should be most concerned with
a. Pure style
b. Exterior looks, but not floor plan
c. Functional utility
d. Use of expensive materials - Answers C
10. In income properties, functional utility in a structure is measured by design features
a. In demand by tenants
b. That maximize investment return
c. Both of the above
d. None of the above - Answers C
11. Which style features a half-timbered exterior as part of its design?
a. California-Monterey
b. Victorian
c. French Provincial
d. English - Answers D
12. What is the square foot living area of the house shown below?
a. 1,360 c. 1,720
b. 1,200 d. 1,500 - Answers A
The sales comparison (or market) approach is
a. The most direct of the value approaches
b. The most easily understood approach
