Certified General Appraiser Exam And Practice Exam
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Exam Prep With Complete 300 Real Exam Questions And
Correct Verified Answers/ Already Graded A+ (Most
Recent!!)
Four Powers of Government - ans -1. Police Power
2. Eminent Domain
3. Taxation
4. Escheat
(PETE)
Police Power - ans -zoning, health codes, building codes, traffic, environmental
regulations, air
Eminent Domain - ans -the RIGHT of government to take private property for
public use
Condemnation - ans -The PROCESS of exercising eminent domain through court
action.
Concepts of Land - ans -geographic and environmental, legal, economic, social
Forces that Influence Real Estate - ans -Social, Economic, Governmental,
Environmental (SEGE)/
Agents of Production - ans -Land, Labor, Capital, Entrepreneurial Coordination
(LLCEC)
Factors of Value - ans -utility, scarcity, desire, effective purchasing power (USDE)
Valuation Process - ans -1.Definition of Problem
2. Scope of Work
3. Data Collection and Property Description
4. Data Analysis (HBU and Market Analysis)
,5. Land Value Estimate
6. Three Approaches to Value
7. Reconciliation
8. Report
Going Concern Value - ans -The value of an established business including the
value of real property and goodwill generated through business operations.
Includes Real, Personal, and Intangibles.
Investment Value - ans -The value of the property to a particular investor, based
on his or her specific requirements, discount rate, expectations, and so on.
Substitution - ans -when several similar or commensurate things are available the
lowest price will attract the greatest demand and widest distribution.
hypothetical condition - ans -a condition, directly related to a specific assignment,
which is contrary to what is KNOWN by the appraiser to exist on the effective
date of the assignment results, but is used for the purpose of analysis.
Extraordinary Assumption - ans -something that is BELIEVED to be True for the
sake of the Appraisal... but may or may not be True as of the Effective Date of the
Appraisal.
Appraisal - ans -the act or process of developing an opinion of value
Marketing Period - ans -Time Period required to actually sell the property once
the decision to sell is made. Time necessary to close a sale.
Exposure Time - ans -the time period assumed to have occurred prior to the date
of the appraisal
Attributes of Land - ans -unique in location and composition, physical immobile,
durable, finite, and useful
Individual Ownership - ans -sole proprietorship
, General Partnership - ans -partnership in which partners share equally in both
responsibility and liability
Limited Partnership (LP) - ans -A partnership consisting of one or more general
partners and one or more limited partners. General partner is liable and limited
partners are to the extent of their initial investment
Tenant in Common - ans -A form of ownership where two or more people hold
title on the same property. Each person's interest is held in severalty and each
person retains the right to will away their interest.
Joint Tenancy - ans -The joint ownership of property by two or more co-owners in
which each co-owner owns an undivided portion of the property. On the death of
one of the joint tenants, his or her interest automatically passes to the surviving
joint tenants.
Corporation - ans -
Condominium Ownership - ans -A form of ownership for units in a multiple-family
complex. Each person owns his or her own unit and shares ownership of common
areas such as hallways and grounds.
Tenancy by the Entirety - ans -The joint ownership, recognized in some states, of
property acquired by husband and wife during marriage. Upon the death of one
spouse, the survivor becomes the owner of the property.
Book Value - ans -the capital amount at which the property is shown on the
account books of the corporation.
Cooperative Ownership - ans -Investor resident acquires stock in the corporation
owning the facility and receives a permanent lease on one unit of the facility
Timesharing - ans -Property occupancy arrangement in which multiple individuals
have use of property but, unlike traditional forms of co-ownership, the interests
are at different time intervals rather than simultaneous. A timesharing
arrangement may involve true co-ownership, leasehold interests (fee
timesharing), or simply permission to occupy (i.e., license).
Newest 2026/ 2027 Test Bank/ Certified General Appraiser
Exam Prep With Complete 300 Real Exam Questions And
Correct Verified Answers/ Already Graded A+ (Most
Recent!!)
Four Powers of Government - ans -1. Police Power
2. Eminent Domain
3. Taxation
4. Escheat
(PETE)
Police Power - ans -zoning, health codes, building codes, traffic, environmental
regulations, air
Eminent Domain - ans -the RIGHT of government to take private property for
public use
Condemnation - ans -The PROCESS of exercising eminent domain through court
action.
Concepts of Land - ans -geographic and environmental, legal, economic, social
Forces that Influence Real Estate - ans -Social, Economic, Governmental,
Environmental (SEGE)/
Agents of Production - ans -Land, Labor, Capital, Entrepreneurial Coordination
(LLCEC)
Factors of Value - ans -utility, scarcity, desire, effective purchasing power (USDE)
Valuation Process - ans -1.Definition of Problem
2. Scope of Work
3. Data Collection and Property Description
4. Data Analysis (HBU and Market Analysis)
,5. Land Value Estimate
6. Three Approaches to Value
7. Reconciliation
8. Report
Going Concern Value - ans -The value of an established business including the
value of real property and goodwill generated through business operations.
Includes Real, Personal, and Intangibles.
Investment Value - ans -The value of the property to a particular investor, based
on his or her specific requirements, discount rate, expectations, and so on.
Substitution - ans -when several similar or commensurate things are available the
lowest price will attract the greatest demand and widest distribution.
hypothetical condition - ans -a condition, directly related to a specific assignment,
which is contrary to what is KNOWN by the appraiser to exist on the effective
date of the assignment results, but is used for the purpose of analysis.
Extraordinary Assumption - ans -something that is BELIEVED to be True for the
sake of the Appraisal... but may or may not be True as of the Effective Date of the
Appraisal.
Appraisal - ans -the act or process of developing an opinion of value
Marketing Period - ans -Time Period required to actually sell the property once
the decision to sell is made. Time necessary to close a sale.
Exposure Time - ans -the time period assumed to have occurred prior to the date
of the appraisal
Attributes of Land - ans -unique in location and composition, physical immobile,
durable, finite, and useful
Individual Ownership - ans -sole proprietorship
, General Partnership - ans -partnership in which partners share equally in both
responsibility and liability
Limited Partnership (LP) - ans -A partnership consisting of one or more general
partners and one or more limited partners. General partner is liable and limited
partners are to the extent of their initial investment
Tenant in Common - ans -A form of ownership where two or more people hold
title on the same property. Each person's interest is held in severalty and each
person retains the right to will away their interest.
Joint Tenancy - ans -The joint ownership of property by two or more co-owners in
which each co-owner owns an undivided portion of the property. On the death of
one of the joint tenants, his or her interest automatically passes to the surviving
joint tenants.
Corporation - ans -
Condominium Ownership - ans -A form of ownership for units in a multiple-family
complex. Each person owns his or her own unit and shares ownership of common
areas such as hallways and grounds.
Tenancy by the Entirety - ans -The joint ownership, recognized in some states, of
property acquired by husband and wife during marriage. Upon the death of one
spouse, the survivor becomes the owner of the property.
Book Value - ans -the capital amount at which the property is shown on the
account books of the corporation.
Cooperative Ownership - ans -Investor resident acquires stock in the corporation
owning the facility and receives a permanent lease on one unit of the facility
Timesharing - ans -Property occupancy arrangement in which multiple individuals
have use of property but, unlike traditional forms of co-ownership, the interests
are at different time intervals rather than simultaneous. A timesharing
arrangement may involve true co-ownership, leasehold interests (fee
timesharing), or simply permission to occupy (i.e., license).
