Rpa Level Iv Practice Exam Questions And Correct Answers Updated.

RPA LEVEL IV PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS UPDATED
Question 1
You should promise "confidentiality" of information only if confidentially
Correct Answer
is protected by law



Question 2
allocation by ratio is a technique for arriving at
Correct Answer
land value



Question 3
a group of appraisal ratios that has been ranked from highest to lowest or lowest to
highest is called what
Correct Answer
a array



Question 4
the amount the developer expects to receive
Correct Answer
entrepreneurial profit



Question 5
the general term for a restriction on the buys rights that is built into the deed is called
Correct Answer
Encumbrance




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,Question 6
list of all taxable property with the name and address of the owners and the taxable
value
Correct Answer
appraisal roll



Question 7
In appraisal, to "capitalize" means
Correct Answer
to convert an income stream into and indicated value



Question 8
THE PROCESS OR RECORDING PROPERTY CHARACTERISTICS IN THE APPRAISAL
DISTRICT IS CALLED
Correct Answer
listing



Question 9
the type and extent of research and analyses in a assignment defines which USPAP
term
Correct Answer
scope of work



Question 10
if a taxing unit collects less than its tax levy, then the unit must first meet its
Correct Answer
debt obligations




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,Question 11
a "normalized" income stream defines;
Correct Answer
net operating income



Question 12
THE 10% CAP ON APPRAISAL INCREASES APPLIES TO
Correct Answer
all residence homesteads



Question 13
what term describes the use of debt capital to acquire an income producing asset
Correct Answer
leverage



Question 14
multiplying a property's overall car rate times the property's value tell you?
Correct Answer
the amount of NOI



Question 15
what does not make up part of a property's return rate
Correct Answer
mortgage amortization rate



Question 16
professional fees, licenses, INSURANCE, over head and profit
Correct Answer
indirect cost




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, Question 17
an appraisal district is:
Correct Answer
an independent political subdividson



Question 18
under "open Records", all persons are entitles to full information unless
Correct Answer
access is denied by law



Question 19
In order to correct an excessive appraisal after the protest deadline the appraised
value must be higher then the correct value by more then
Correct Answer
one- third



Question 20
the fundamental formula used in the traditional income approach states that:
Correct Answer
Value= income divided by rate



Question 21
a statistically derived number that relates directly to appraisal accuracy is
Correct Answer
a measure of central tendency




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