NATIONAL PSI BROKER EXAM POST TEST EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (80)
,In the appraisal process, the C)
capitalization rate is used by an
appraiser to determine which type of The answer is present value of an income-producing
value? property. The capitalization formula uses current net
operating income (NOI) to determine the present
A) value of an income-producing property.
Future value of any type of property
B)
Past value of a unique and income-
producing property
C)
Present value of an income-
producing property
D)
Probable value of residential
property
If the current monthly GRM on a B)
single-family home is 100 with an
estimated annual income of $24,000, The answer is $200,000. Monthly gross rent
what is the estimated value of the multiplier (GRM) × monthly income = value. 100 ×
property? 2,000 ($24,000 ÷ 12) = $200,000.
A)
$120,000
B)
$200,000
C)
$240,000
D)
$2,400,000
,An appraiser is using the sales C)
comparison approach to estimate the
value of a residential home. The The answer is actual replacement and reproduction
appraiser will make positive and cost. Appraisers using the sales comparison
negative adjustments to the sold approach will adjust for square footage, lot size and
comparables for all of the following location, and date of sale in a rapidly changing
factors EXCEPT market. Reproduction cost is used in the cost
approach to value, not the sales comparison
A) approach.
square footage of the sold
properties.
B)
lot size and location of each sold
comparable in relation to the subject.
C)
actual replacement and reproduction
cost.
D)
date of sale of each sold
comparable.
, The BEST approach for an appraiser B)
trying to determine market value of a
shopping center, apartment building, The answer is income approach to value. The
or office building would be the income approach is used when a property, such as a
shopping center, generates revenue.
A)
replacement approach to value.
B)
income approach to value.
C)
sales comparison approach to value.
D)
summation approach to value.
An active real estate professional A)
must be able to help consumers
determine the probable sales price The answer is setting the loan value. Appraisals, not
of a real property. A broker's or competitive market analyses (CMAs), are used to set
salesperson's competitive market or determine loan value. CMAs are often used to
analysis would be used for all of the provide an estimate of market value or a probable
following EXCEPT price. Appraisals also estimate market value.
A)
setting the loan value.
B)
determining the listing price.
C)
assisting sellers and buyers in
determining market value.
D)
estimating the probable sales price.
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (80)
,In the appraisal process, the C)
capitalization rate is used by an
appraiser to determine which type of The answer is present value of an income-producing
value? property. The capitalization formula uses current net
operating income (NOI) to determine the present
A) value of an income-producing property.
Future value of any type of property
B)
Past value of a unique and income-
producing property
C)
Present value of an income-
producing property
D)
Probable value of residential
property
If the current monthly GRM on a B)
single-family home is 100 with an
estimated annual income of $24,000, The answer is $200,000. Monthly gross rent
what is the estimated value of the multiplier (GRM) × monthly income = value. 100 ×
property? 2,000 ($24,000 ÷ 12) = $200,000.
A)
$120,000
B)
$200,000
C)
$240,000
D)
$2,400,000
,An appraiser is using the sales C)
comparison approach to estimate the
value of a residential home. The The answer is actual replacement and reproduction
appraiser will make positive and cost. Appraisers using the sales comparison
negative adjustments to the sold approach will adjust for square footage, lot size and
comparables for all of the following location, and date of sale in a rapidly changing
factors EXCEPT market. Reproduction cost is used in the cost
approach to value, not the sales comparison
A) approach.
square footage of the sold
properties.
B)
lot size and location of each sold
comparable in relation to the subject.
C)
actual replacement and reproduction
cost.
D)
date of sale of each sold
comparable.
, The BEST approach for an appraiser B)
trying to determine market value of a
shopping center, apartment building, The answer is income approach to value. The
or office building would be the income approach is used when a property, such as a
shopping center, generates revenue.
A)
replacement approach to value.
B)
income approach to value.
C)
sales comparison approach to value.
D)
summation approach to value.
An active real estate professional A)
must be able to help consumers
determine the probable sales price The answer is setting the loan value. Appraisals, not
of a real property. A broker's or competitive market analyses (CMAs), are used to set
salesperson's competitive market or determine loan value. CMAs are often used to
analysis would be used for all of the provide an estimate of market value or a probable
following EXCEPT price. Appraisals also estimate market value.
A)
setting the loan value.
B)
determining the listing price.
C)
assisting sellers and buyers in
determining market value.
D)
estimating the probable sales price.
