DONALDSON RE NATL FINAL 100%
CORRECT.
A real estate development corporation purchased land for a condominium project. The
corporation most likely took title to the land
A. as a general partnership.
B. as a joint tenant.
C. In severalty.
D. as a syndication. - D. as a syndication.
Pulls funds for the development of projects
.Man made markers such as a steel rod or concrete post may be part of what type of
legal description?
A. Metes and Bounds
B. Subdivision System
C. Lot & Block
D. Government Survey System - A. Metes and Bounds
.Which of the following is an economic characteristic of land?
A. Non-homogeneity
B. Indestructibility
C. Immobility
D. Situs - D. Situs
.If an unmarried couple wished to purchase a home together and have the right of
survivorship, which form of ownership would they choose?
Select one:
A. Tenancy at Will
B. Joint Tenancy
C. Tenancy in Common
D. Tenancy by the Entirety - B. Joint Tenancy
.The process of taking property while providing just compensation is called:
Select one:
A. escheat.
B. eminent domain.
C. police power.
D. condemnation. - D. condemnation.
.CC&Rs can be recorded by whom?
Select one:
A. Only by subdivision developers.
, B. Only by the civil sheriff.
C. Only for one year at a time and must be renewed.
D. By any property owner, usually the developer or current owner of the subdivision. -
D. By any property owner, usually the developer or current owner of the subdivision.
.Zoning regulations and decisions are usually handled by:
Select one:
A. towns and cities.
B. the federal government.
C. the state government.
D. the courts. - A. towns and cities.
.Which of the following is most likely used in the cost approach?
Select one:
A. future value of residential comparable property
B. original cost of building or improvement
C. a competitive market analysis
D. estimating cost of building using today's cost - D. estimating cost of building using
today's cost
.The Principal of Substitution is most directly illustrated in the
______________________ to value by valuing a subject by comparing it to recently
sold equivalent properties and the price they sold for.
Select one:
A. the Cost Approach
B. the Market Price method
C. the Income Approach
D. the Sales Comparison Approach - D. the Sales Comparison Approach
.Which of the following types of depreciation is generally incurable?
Select one:
A. Physical deterioration
B. Physical depreciation
C. Economic obsolescence
D. Functional obsolescence - C. Economic obsolescence
.You are appraising a property in which seller motivation is a significant factor. The
motivation would be most important in utilizing which of the following?
Select one:
A. Gross rent multiplier method
B. Cost approach
C. Sales comparison approach
D. Income approach - C. Sales comparison approach
.The nactual nprice npaid nfor nproperty nas na nresult nof na nsale nis nknown nas nits:
CORRECT.
A real estate development corporation purchased land for a condominium project. The
corporation most likely took title to the land
A. as a general partnership.
B. as a joint tenant.
C. In severalty.
D. as a syndication. - D. as a syndication.
Pulls funds for the development of projects
.Man made markers such as a steel rod or concrete post may be part of what type of
legal description?
A. Metes and Bounds
B. Subdivision System
C. Lot & Block
D. Government Survey System - A. Metes and Bounds
.Which of the following is an economic characteristic of land?
A. Non-homogeneity
B. Indestructibility
C. Immobility
D. Situs - D. Situs
.If an unmarried couple wished to purchase a home together and have the right of
survivorship, which form of ownership would they choose?
Select one:
A. Tenancy at Will
B. Joint Tenancy
C. Tenancy in Common
D. Tenancy by the Entirety - B. Joint Tenancy
.The process of taking property while providing just compensation is called:
Select one:
A. escheat.
B. eminent domain.
C. police power.
D. condemnation. - D. condemnation.
.CC&Rs can be recorded by whom?
Select one:
A. Only by subdivision developers.
, B. Only by the civil sheriff.
C. Only for one year at a time and must be renewed.
D. By any property owner, usually the developer or current owner of the subdivision. -
D. By any property owner, usually the developer or current owner of the subdivision.
.Zoning regulations and decisions are usually handled by:
Select one:
A. towns and cities.
B. the federal government.
C. the state government.
D. the courts. - A. towns and cities.
.Which of the following is most likely used in the cost approach?
Select one:
A. future value of residential comparable property
B. original cost of building or improvement
C. a competitive market analysis
D. estimating cost of building using today's cost - D. estimating cost of building using
today's cost
.The Principal of Substitution is most directly illustrated in the
______________________ to value by valuing a subject by comparing it to recently
sold equivalent properties and the price they sold for.
Select one:
A. the Cost Approach
B. the Market Price method
C. the Income Approach
D. the Sales Comparison Approach - D. the Sales Comparison Approach
.Which of the following types of depreciation is generally incurable?
Select one:
A. Physical deterioration
B. Physical depreciation
C. Economic obsolescence
D. Functional obsolescence - C. Economic obsolescence
.You are appraising a property in which seller motivation is a significant factor. The
motivation would be most important in utilizing which of the following?
Select one:
A. Gross rent multiplier method
B. Cost approach
C. Sales comparison approach
D. Income approach - C. Sales comparison approach
.The nactual nprice npaid nfor nproperty nas na nresult nof na nsale nis nknown nas nits:
