Appraisal quiz || Already Passed!!

1. A residence that has a bathroom but not tube would be said to suffer from: a. dysfunctional depreciation b. economic obsolescence c. physical depreciation d. functional obsolescence correct answers d. functional obsolescence The four characteristics of land value are: a. utility, title, social use, and transferability b. demand, utility, economy and escheat c. demand, utility, scarcity, and transferability d. scarcity, social use, utility, and transferability correct answers c. demand, utility, scarcity, and transferability When appraising a rental property, the appraiser should emphasize which of the following? a. the cost approach b. the market data approach c. the income approach d. the commercial approach correct answers c. the income approach The capitalization method is best used in determining the value of: a. school building b. church c. condo d. an income producing property correct answers d. an income producing property 5. When appraising a 20 year old residential home, the appraiser should emphasize which of the following? a. The selling prices of new home in the city b. the selling prices of similar properties c. the selling prices of home nationally d. construction costs of similar sized houses correct answers b. the selling prices of similar properties 6. If the market capitalization rate in the community is going up property values property values would generally be: a. decreasing b. increasing c. stable d. difficult to determine correct answers a. decreasing 7. An appraiser should first consider which of the following when making an appraisal? a. the listed price b. the original cost c. the highest and best use d. the offered price correct answers c. the highest and best use 8. All of the following are operating expenses EXCEPT: a. fuel or utility charges