100% CORRECT ANSWERS|LATEST
T/F:
the sales comparison approach is based on the principle of substitution. -
ANSWER true
T/F:
the first step in the sales comparison approach is to research comparable sales -
ANSWER true
T/F:
the sales comparison approach has no statistical connections - ANSWER false
T/F:
in the analysis of sales transaction data, the actual date that the sale price was agreed upon
is the theoretical date of sale - ANSWER true
T/F:
USPAP requires that any listing or sale of the subject property around the date of value be
considered in the appraisal - ANSWER true
T/F:
a sale between the property owner and a tenant can be assumed to be an open market
transaction - ANSWER false
1
,T/F:
even though listings and offers may be available, they are of no significant use to an
appraiser - ANSWER false
T/F:
sales data published and/or available online for the use of subscribing appraisers is often
generated by cooperating lenders and appraisers - ANSWER true
T/F:
data resources on the internet provide general data on the economy and regulatory
information of use to the appraiser - ANSWER true
T/F:
a neighborhood sales study finds selling prices of $150,000, $157,500, $159,000, $162,000,
and $164,000 for homes similar to the subject property. The median price of this sample is
$158,500. - ANSWER false
T/F:
the four elemtns of comparison used in the sales comparison approach include the terms
and time of sale, as well as location and physical elements about the property -
ANSWER true
T/F:
sales adjustments should be market-related - ANSWER true
T/F:
two or more percentage adjustments should theoretically be multiplied together (instead of
added) when they are dependent upon each other - ANSWER true
2
, T/F:
units of comparison are dollar or percentage amounts that are added to, or subtracted from,
the comparable sales prices - ANSWER true
T/F:
to adjust the sales price of a comparable sale with a 10% better location, you should add
10% to the price - ANSWER false, comparable better subtract
T/F:
an example of an economic unit of comparison in the appraisal of land is the price per
buildable apartment or dwelling unit - ANSWER true
T/F:
if the 1,800 square-foot houses in the subject neighborhood sell typically at $200 per square
foot, you would expect that a 1,400 square-foot house would sell for under $200 per square
foot - ANSWER false
T/F:
variable units of comparison can often be effectively analyzed by graphing the sales -
ANSWER true
T/F:
using "matched pairs" of comparable sales is considered an indirect method of estimating
sales adjustments - ANSWER false
T/F:
a comparable sale should be adjusted for the terms of sale when the sale involves unique
financing that offers and advantage to the buyer - ANSWER true
3
T/F:
the sales comparison approach is based on the principle of substitution. -
ANSWER true
T/F:
the first step in the sales comparison approach is to research comparable sales -
ANSWER true
T/F:
the sales comparison approach has no statistical connections - ANSWER false
T/F:
in the analysis of sales transaction data, the actual date that the sale price was agreed upon
is the theoretical date of sale - ANSWER true
T/F:
USPAP requires that any listing or sale of the subject property around the date of value be
considered in the appraisal - ANSWER true
T/F:
a sale between the property owner and a tenant can be assumed to be an open market
transaction - ANSWER false
1
,T/F:
even though listings and offers may be available, they are of no significant use to an
appraiser - ANSWER false
T/F:
sales data published and/or available online for the use of subscribing appraisers is often
generated by cooperating lenders and appraisers - ANSWER true
T/F:
data resources on the internet provide general data on the economy and regulatory
information of use to the appraiser - ANSWER true
T/F:
a neighborhood sales study finds selling prices of $150,000, $157,500, $159,000, $162,000,
and $164,000 for homes similar to the subject property. The median price of this sample is
$158,500. - ANSWER false
T/F:
the four elemtns of comparison used in the sales comparison approach include the terms
and time of sale, as well as location and physical elements about the property -
ANSWER true
T/F:
sales adjustments should be market-related - ANSWER true
T/F:
two or more percentage adjustments should theoretically be multiplied together (instead of
added) when they are dependent upon each other - ANSWER true
2
, T/F:
units of comparison are dollar or percentage amounts that are added to, or subtracted from,
the comparable sales prices - ANSWER true
T/F:
to adjust the sales price of a comparable sale with a 10% better location, you should add
10% to the price - ANSWER false, comparable better subtract
T/F:
an example of an economic unit of comparison in the appraisal of land is the price per
buildable apartment or dwelling unit - ANSWER true
T/F:
if the 1,800 square-foot houses in the subject neighborhood sell typically at $200 per square
foot, you would expect that a 1,400 square-foot house would sell for under $200 per square
foot - ANSWER false
T/F:
variable units of comparison can often be effectively analyzed by graphing the sales -
ANSWER true
T/F:
using "matched pairs" of comparable sales is considered an indirect method of estimating
sales adjustments - ANSWER false
T/F:
a comparable sale should be adjusted for the terms of sale when the sale involves unique
financing that offers and advantage to the buyer - ANSWER true
3
