CE Shop Appraisal Exam
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1. Which of the following is a true statement about Adjustments are made to
adjustments when using the sales comparison ap- the comparables, and not
proach? to the subject property.
2. What are constructed on top of footings? Foundation walls
3. How does an appraiser determine site value when By using the sales com-
using the cost approach method? parison method
4. Which one of the four methods used to find the repro- Square-foot
duction cost of a structure is the appraiser using if she
multiplies the cost per square foot of a recently built
comparable structure by the number of square feet in
the subject building?
5. What's a fraction? Something that's divided
into a number of equal
parts
6. Who or which of the following entities uses the ap- Buyer
praisal to determine how much to pay for the prop-
erty?
7. What is the formula NOI ÷ V = R used to calculate? The capitalization rate
8. What does the lot and block system use to develop a Plat references
property's legal description?
9. A thorough identification of the property, which pro- Introduction
vides the reader with a true picture of the property
being valued, is located in the ______ section of the
narrative appraisal report.
10. Market extraction
, CE Shop Appraisal Exam
Study online at https://quizlet.com/_cac59v
Abel is using the sales comparison method to mea-
sure depreciation. By what other name is this method
known?
11. When ______ capitalization is used, future income esti- Yield
mates are calculated, then a discount rate is applied.
12. What is a section? A one-square-mile square
formed in the use of the
rectangular survey system
13. When the land value is known, but the building value Building residual
is unknown, the ______ technique can be used.
14. With which of the four methods used to measure de- Observed condition
preciation does the appraiser estimate the property's
loss in value for both curable and incurable items of
depreciation?
15. Edwin is appraising a newer building using the cost Reproduction costs
approach method. Because it will be fairly easy for
him to conduct a cost analysis with similar structures
of the same or nearly the same age, Edwin is going
to calculate his construction cost-new estimate using
______.
16. Compared with condominiums, the monthly fees for Higher
a cooperative owner are typically ______.
17. Condominiums involve what type of ownership? Real property
18. What type of information would an appraiser gather General data
from transit authorities?
, CE Shop Appraisal Exam
Study online at https://quizlet.com/_cac59v
19. The umbrella organization that's authorized by Con- The Appraisal Foundation
gress to develop and oversee the standards and re-
quirements real estate appraisers must follow is called
______.
20. What term means the power of the government to Eminent domain
take private land for public use?
21. Which of the four methods used to find the reproduc- Quantity survey
tion cost of a structure requires the appraiser to know
every facet of building construction?
22. Harmony is looking at the legal description on her Lot and block
purchase contract. It mentions that the plat of her
property is recorded in Map Book 12, page 14, at the
county courthouse. What type of legal description is
this?
23. Sinead is using the market comparison method to Market extraction
measure depreciation. By what other name is this
method known?
24. Which of the following loans may require compliance Conventional
with Appraiser Independence Requirements?
25. Jan is an appraiser analyzing a site that's in an earth- Important feature
quake zone. This is considered a(n) ______ of the site.
26. Although you've told her that the value of a modular A label installed in the
home is basically the same as a site-built one and cabinet underneath the
that the quality may even be better, Sandy absolutely kitchen sink
refuses to buy a modular home. What tell-tale sign of a
modular home should you look for during showings?
Study online at https://quizlet.com/_cac59v
1. Which of the following is a true statement about Adjustments are made to
adjustments when using the sales comparison ap- the comparables, and not
proach? to the subject property.
2. What are constructed on top of footings? Foundation walls
3. How does an appraiser determine site value when By using the sales com-
using the cost approach method? parison method
4. Which one of the four methods used to find the repro- Square-foot
duction cost of a structure is the appraiser using if she
multiplies the cost per square foot of a recently built
comparable structure by the number of square feet in
the subject building?
5. What's a fraction? Something that's divided
into a number of equal
parts
6. Who or which of the following entities uses the ap- Buyer
praisal to determine how much to pay for the prop-
erty?
7. What is the formula NOI ÷ V = R used to calculate? The capitalization rate
8. What does the lot and block system use to develop a Plat references
property's legal description?
9. A thorough identification of the property, which pro- Introduction
vides the reader with a true picture of the property
being valued, is located in the ______ section of the
narrative appraisal report.
10. Market extraction
, CE Shop Appraisal Exam
Study online at https://quizlet.com/_cac59v
Abel is using the sales comparison method to mea-
sure depreciation. By what other name is this method
known?
11. When ______ capitalization is used, future income esti- Yield
mates are calculated, then a discount rate is applied.
12. What is a section? A one-square-mile square
formed in the use of the
rectangular survey system
13. When the land value is known, but the building value Building residual
is unknown, the ______ technique can be used.
14. With which of the four methods used to measure de- Observed condition
preciation does the appraiser estimate the property's
loss in value for both curable and incurable items of
depreciation?
15. Edwin is appraising a newer building using the cost Reproduction costs
approach method. Because it will be fairly easy for
him to conduct a cost analysis with similar structures
of the same or nearly the same age, Edwin is going
to calculate his construction cost-new estimate using
______.
16. Compared with condominiums, the monthly fees for Higher
a cooperative owner are typically ______.
17. Condominiums involve what type of ownership? Real property
18. What type of information would an appraiser gather General data
from transit authorities?
, CE Shop Appraisal Exam
Study online at https://quizlet.com/_cac59v
19. The umbrella organization that's authorized by Con- The Appraisal Foundation
gress to develop and oversee the standards and re-
quirements real estate appraisers must follow is called
______.
20. What term means the power of the government to Eminent domain
take private land for public use?
21. Which of the four methods used to find the reproduc- Quantity survey
tion cost of a structure requires the appraiser to know
every facet of building construction?
22. Harmony is looking at the legal description on her Lot and block
purchase contract. It mentions that the plat of her
property is recorded in Map Book 12, page 14, at the
county courthouse. What type of legal description is
this?
23. Sinead is using the market comparison method to Market extraction
measure depreciation. By what other name is this
method known?
24. Which of the following loans may require compliance Conventional
with Appraiser Independence Requirements?
25. Jan is an appraiser analyzing a site that's in an earth- Important feature
quake zone. This is considered a(n) ______ of the site.
26. Although you've told her that the value of a modular A label installed in the
home is basically the same as a site-built one and cabinet underneath the
that the quality may even be better, Sandy absolutely kitchen sink
refuses to buy a modular home. What tell-tale sign of a
modular home should you look for during showings?
