General Appraiser Income
Approach (McKissock) fully
solved & verified for
accuracy(latest updated
version)
You are working with your HP12C. Suddenly you notice a
flashing (*) on the register. What does that mean? -
answer The battery needs to be replaced
USPAP identifies standards for determining the
acceptability of the appraiser's Scope of Work decision.
They are: - answer Both of these:
-Expectations of regular intended users of similar
assignments
-The actions of the appraiser's peers in a similar
assignment
The technique which derives a capitalization rate through
combining the rates attributable to a capital investment
(mortgage and equity) is: - answer Band of investment
A fundamental difference between direct capitalization
and yield capitalization is: - answer Direct deals with
current year's income and yield with future benefits
,USPAP is fundamentally about - answer Ethics and
competency
Using your financial calculator, what answer results from
the following keystrokes: 2 [enter] 3 [+] 8 [x] ? - answer
40
The concept that the value of an inferior property is
enhanced by its association with better properties of the
same type is known as: - answer Progression
Agents of production include Land, Labor, Capital, and -
answer Coordination
In economic theory, supply and demand always move
proportionally with each other. - answer False
An appraiser wants to determine the present value of
future income streams. This process is referred to as: -
answer Discounting
The debt coverage ratio measures a property's ability to
meet its debt service requirements out of - answer Net
Operating Income
Pre-tax cash flow, which is the cash flow of a property
after expenses and debt service have been paid, but
before income and capital gains taxes, is another name
for: - answer Equity dividend
,Standards Rule 1-1 of USPAP states that an appraiser
must: - answer Be aware of, understand, and correctly
employ those recognized methods and techniques
necessary to produce a credible appraisal
Using the calculator, add 80,000 to 93,000, and then
divide by 10, and then subtract 1,300, and multiply by 2.
The answer is: - answer 32,000
An appraiser who is adjusting sales prices of properties
with atypical financing is performing ____________ analysis. -
answer Cash Equivalency
Prior to listing his property for sale, the owner spent
$35,000 remodeling the bathroom. The market will only
bear $20,000 of this expenditure. Which economic
principle does this demonstrate? - answer Law of
decreasing returns
Your HP 12c is set to two decimal places. You want to
change it to 4 decimal places. What keystrokes would you
use? - answer Gold [ f ], 4
The concept that the value of a particular component is
measured as the amount that its absence would detract
from the value of the whole is known as: - answer
Contribution
, To add two numbers on an HP12C calculator, you key in
the first number and then: - answer [ENTER]
On your calculator add 75,000 to 63,000 and then divide
by 10. Then, subtract 1,800, then multiply by 12. The
answer is: - answer 144,000
The delta symbol means - answer Change
When an appraiser determines the cash flow after debt
service but before income and capital gains taxes, it is
referred to as the: - answer Equity dividend
Which principle holds that value is created by the
expectation of benefits to be derived in the future? -
answer Anticipation
The concept that the value of a superior property is
adversely affected by its association with an inferior
property of the same type is: - answer Regression
The basic formula when dealing with multipliers is: -
answer I x M = V
A common thread within various definitions of market
value is: - answer Buyer & seller are willing &
knowledgeable
Approach (McKissock) fully
solved & verified for
accuracy(latest updated
version)
You are working with your HP12C. Suddenly you notice a
flashing (*) on the register. What does that mean? -
answer The battery needs to be replaced
USPAP identifies standards for determining the
acceptability of the appraiser's Scope of Work decision.
They are: - answer Both of these:
-Expectations of regular intended users of similar
assignments
-The actions of the appraiser's peers in a similar
assignment
The technique which derives a capitalization rate through
combining the rates attributable to a capital investment
(mortgage and equity) is: - answer Band of investment
A fundamental difference between direct capitalization
and yield capitalization is: - answer Direct deals with
current year's income and yield with future benefits
,USPAP is fundamentally about - answer Ethics and
competency
Using your financial calculator, what answer results from
the following keystrokes: 2 [enter] 3 [+] 8 [x] ? - answer
40
The concept that the value of an inferior property is
enhanced by its association with better properties of the
same type is known as: - answer Progression
Agents of production include Land, Labor, Capital, and -
answer Coordination
In economic theory, supply and demand always move
proportionally with each other. - answer False
An appraiser wants to determine the present value of
future income streams. This process is referred to as: -
answer Discounting
The debt coverage ratio measures a property's ability to
meet its debt service requirements out of - answer Net
Operating Income
Pre-tax cash flow, which is the cash flow of a property
after expenses and debt service have been paid, but
before income and capital gains taxes, is another name
for: - answer Equity dividend
,Standards Rule 1-1 of USPAP states that an appraiser
must: - answer Be aware of, understand, and correctly
employ those recognized methods and techniques
necessary to produce a credible appraisal
Using the calculator, add 80,000 to 93,000, and then
divide by 10, and then subtract 1,300, and multiply by 2.
The answer is: - answer 32,000
An appraiser who is adjusting sales prices of properties
with atypical financing is performing ____________ analysis. -
answer Cash Equivalency
Prior to listing his property for sale, the owner spent
$35,000 remodeling the bathroom. The market will only
bear $20,000 of this expenditure. Which economic
principle does this demonstrate? - answer Law of
decreasing returns
Your HP 12c is set to two decimal places. You want to
change it to 4 decimal places. What keystrokes would you
use? - answer Gold [ f ], 4
The concept that the value of a particular component is
measured as the amount that its absence would detract
from the value of the whole is known as: - answer
Contribution
, To add two numbers on an HP12C calculator, you key in
the first number and then: - answer [ENTER]
On your calculator add 75,000 to 63,000 and then divide
by 10. Then, subtract 1,800, then multiply by 12. The
answer is: - answer 144,000
The delta symbol means - answer Change
When an appraiser determines the cash flow after debt
service but before income and capital gains taxes, it is
referred to as the: - answer Equity dividend
Which principle holds that value is created by the
expectation of benefits to be derived in the future? -
answer Anticipation
The concept that the value of a superior property is
adversely affected by its association with an inferior
property of the same type is: - answer Regression
The basic formula when dealing with multipliers is: -
answer I x M = V
A common thread within various definitions of market
value is: - answer Buyer & seller are willing &
knowledgeable
