APPRAISER I & II EXAM 2025
___________ is the loss of value due to consumption, such as mining and timer
removal. - ANSWER-Depletion
_______________ is the number of years from the date of appraisal to the date
when the building becomes economically valueless. - ANSWER-Remaining Economic
Life
1 acre = ______ square feet - ANSWER-43,560 SF
3 Elements of Capitilization - ANSWER-Income, Rate, Value
4 methods to estimate RCN of improvement - ANSWER-1. Quantity Survey - inventory
of cost to build (mat., equip, labor)
2. Unit in Place
3. Square foot - Most popular
4. Factored Historical Cost (trend) - Cost index(OCN) = RCN.
48-5-11 - ANSWER-Tax situs for residents
48-5-16 - ANSWER-Tax situs for businesses, boats, and aircrafts.
A company sells a variety of office machinery, equipment, furniture, and fixtures should
classify the personal property as - ANSWER-CI - Commercial Inventory
A court of appeals decision ruled that certain improvement to leased space are not
taxable to the taxpayer/lessee. True or False? - ANSWER-True
A hearing officer may hear appeals for which issues? - ANSWER-Value and uniformity
A low assessment could point to one of two problems. They are: - ANSWER-1. There
were unusual conditions in the sale.
2. The property needs to be reappraised.
A person must obtain at least an appraiser ___ to hold the position of chief appraiser. -
ANSWER-3
A PRD greater than 1 indicates __________. - ANSWER-Regressivity
A PRD of less than 1 indicates _________. - ANSWER-Progressivity
Absolute Deviation from median ratio - ANSWER-Total deviations divided by number of
samples
, Actual Age - ANSWER-The chronological age of the improvements.
Ad valorem - ANSWER-"according to value" based on the value of the property
Ad Valorem Taxation of property is found in Title ___ Chapter ___ in the official Code of
Georgia Annotated law book. - ANSWER-Title 48 Chapter 5
Age-Life method - ANSWER-Based primarily upon observation.
Effective Age/ Typical Economic Life = Depreciation of Reproduction Cost
Aggregate Ratio Formula - ANSWER-total of sales divided into the total of assessment
Aircrafts are taxible in the county where ________________. - ANSWER-They are
hangered or tied down and where flights normally originate.
All property shall be returned for taxation at its ___________, except as otherwise
provided. - ANSWER-FMV
An acceptable range for the COD when measuring the uniformity of residential property
is _________ to __________. - ANSWER-0 to .15
An acceptable range of compliance for the PRD is _____ to _____. - ANSWER-.95 to
1.10
An airplane owned by a corporation should be classified as - ANSWER-Commercial
Aircraft
An Arbitrator may hear appeals for which issue(s)? - ANSWER-value
An assessor shall be appointed by the county governing authority for a term of.... -
ANSWER-not less than three nor more than six years.
Another name for straight line depreciation method is the ____________ method. -
ANSWER-Age/life
Anticipation - ANSWER-Value is created by the expectation of future benefits.
Arms length transaction - ANSWER-In good faith, non family, non affiliated
Assessed value / .40 = - ANSWER-Fair Market Value
At what point is it appropriate to average to arrive at the final value estimate? -
ANSWER-Never
At which meeting of the year should the BOA elect a chairman? - ANSWER-1st
___________ is the loss of value due to consumption, such as mining and timer
removal. - ANSWER-Depletion
_______________ is the number of years from the date of appraisal to the date
when the building becomes economically valueless. - ANSWER-Remaining Economic
Life
1 acre = ______ square feet - ANSWER-43,560 SF
3 Elements of Capitilization - ANSWER-Income, Rate, Value
4 methods to estimate RCN of improvement - ANSWER-1. Quantity Survey - inventory
of cost to build (mat., equip, labor)
2. Unit in Place
3. Square foot - Most popular
4. Factored Historical Cost (trend) - Cost index(OCN) = RCN.
48-5-11 - ANSWER-Tax situs for residents
48-5-16 - ANSWER-Tax situs for businesses, boats, and aircrafts.
A company sells a variety of office machinery, equipment, furniture, and fixtures should
classify the personal property as - ANSWER-CI - Commercial Inventory
A court of appeals decision ruled that certain improvement to leased space are not
taxable to the taxpayer/lessee. True or False? - ANSWER-True
A hearing officer may hear appeals for which issues? - ANSWER-Value and uniformity
A low assessment could point to one of two problems. They are: - ANSWER-1. There
were unusual conditions in the sale.
2. The property needs to be reappraised.
A person must obtain at least an appraiser ___ to hold the position of chief appraiser. -
ANSWER-3
A PRD greater than 1 indicates __________. - ANSWER-Regressivity
A PRD of less than 1 indicates _________. - ANSWER-Progressivity
Absolute Deviation from median ratio - ANSWER-Total deviations divided by number of
samples
, Actual Age - ANSWER-The chronological age of the improvements.
Ad valorem - ANSWER-"according to value" based on the value of the property
Ad Valorem Taxation of property is found in Title ___ Chapter ___ in the official Code of
Georgia Annotated law book. - ANSWER-Title 48 Chapter 5
Age-Life method - ANSWER-Based primarily upon observation.
Effective Age/ Typical Economic Life = Depreciation of Reproduction Cost
Aggregate Ratio Formula - ANSWER-total of sales divided into the total of assessment
Aircrafts are taxible in the county where ________________. - ANSWER-They are
hangered or tied down and where flights normally originate.
All property shall be returned for taxation at its ___________, except as otherwise
provided. - ANSWER-FMV
An acceptable range for the COD when measuring the uniformity of residential property
is _________ to __________. - ANSWER-0 to .15
An acceptable range of compliance for the PRD is _____ to _____. - ANSWER-.95 to
1.10
An airplane owned by a corporation should be classified as - ANSWER-Commercial
Aircraft
An Arbitrator may hear appeals for which issue(s)? - ANSWER-value
An assessor shall be appointed by the county governing authority for a term of.... -
ANSWER-not less than three nor more than six years.
Another name for straight line depreciation method is the ____________ method. -
ANSWER-Age/life
Anticipation - ANSWER-Value is created by the expectation of future benefits.
Arms length transaction - ANSWER-In good faith, non family, non affiliated
Assessed value / .40 = - ANSWER-Fair Market Value
At what point is it appropriate to average to arrive at the final value estimate? -
ANSWER-Never
At which meeting of the year should the BOA elect a chairman? - ANSWER-1st
