PRINCIPLES OF REAL ESTATE 2
QUIZZES & ANSWERS
The appraised value of a property is: - ANSWER An opinion of value
For tax purposes the_______Is determined by the taxing authority - ANSWER
Assessed value
In the appraisal report, the property being appraised is referred to as
the_______Properly - ANSWER Subject property
The principle of_____suggest that the value of property is equal to the sum of the
contributory value of each of its component parts. - ANSWER Contribution
An appraisal has a limited "shelf life "because of the principle of_______. - ANSWER
Change
To satisfy an unpaid promissory note,________Is the legal procedure whereby the
secured property may be sold. - ANSWER Foreclosure
Since they are responsible for enforcing federal consumer financial law, the consumer
financial protection bureau is responsible for the enforcement of which of the following?
- ANSWER The real estate settlement procedures act, the fair credit reporting act, the
truth in lending act
The investors assign large blocks of loans into___as collateral to back mortgage -
backed securities. - ANSWER Loan pools
Located in between incompatible uses, a___Is an area of land separating one land use
from another, such as residential from commercial. - ANSWER Buffer zone
Changing the zoning of a property to a lower value is called____ - ANSWER
Downzoning
Additional capital or property included in a transaction to even cut out the exchange is
called: - ANSWER Boot
The potential income of a property that is derived from rents collected in the year is
called: - ANSWER Gross Scheduled Income
Real estate investment syndicates: - ANSWER May be organized as limited or general
partnerships
QUIZZES & ANSWERS
The appraised value of a property is: - ANSWER An opinion of value
For tax purposes the_______Is determined by the taxing authority - ANSWER
Assessed value
In the appraisal report, the property being appraised is referred to as
the_______Properly - ANSWER Subject property
The principle of_____suggest that the value of property is equal to the sum of the
contributory value of each of its component parts. - ANSWER Contribution
An appraisal has a limited "shelf life "because of the principle of_______. - ANSWER
Change
To satisfy an unpaid promissory note,________Is the legal procedure whereby the
secured property may be sold. - ANSWER Foreclosure
Since they are responsible for enforcing federal consumer financial law, the consumer
financial protection bureau is responsible for the enforcement of which of the following?
- ANSWER The real estate settlement procedures act, the fair credit reporting act, the
truth in lending act
The investors assign large blocks of loans into___as collateral to back mortgage -
backed securities. - ANSWER Loan pools
Located in between incompatible uses, a___Is an area of land separating one land use
from another, such as residential from commercial. - ANSWER Buffer zone
Changing the zoning of a property to a lower value is called____ - ANSWER
Downzoning
Additional capital or property included in a transaction to even cut out the exchange is
called: - ANSWER Boot
The potential income of a property that is derived from rents collected in the year is
called: - ANSWER Gross Scheduled Income
Real estate investment syndicates: - ANSWER May be organized as limited or general
partnerships
