General Appraiser Market Analysis Exam
2024-2025 Rated A+
5 STEPS OF THE SCIENTIFIC METHOD - ANSWER-1. identify the problem
2. formulate a hypothesis
3. establish data requirements
4. apply appropriate methodology
5. reconcile the findings to solve the problem
a building's efficiency ratio is the - ANSWER-building net rentable area of the subject
property divided by its gross building area
a building's efficiency ratio is the - ANSWER-rentable area of the subject property
divided by its gross building area
a data point (observation) that is much larger or smaller than the others in the sample is
an _____ - ANSWER-outlier
a generally known process of problem solving and research in the natural and social
sciences - ANSWER-scientific method
a group of complementary land uses - ANSWER-neighborhood
a lot that is approved and fully prepared to support a building - ANSWER-finished lot
a market analysis that culminates in an opinion of value for a particular property -
ANSWER-appraisal
a market study investigates the market conditions in a general area or a _______ -
ANSWER-property type
a marketability study investigates the market conditions in a specific location for a
_______ - ANSWER-specific type
a measure of a central tendency is intended to identify - ANSWER-where the data tends
to lump in the middle
a measure of dispersion is intended to identify - ANSWER-how the data is spread
around the middle
a process for examing the demand for and supply of a property type and the geographic
market area for that property type - ANSWER-market analysis
,a purchaser's wish for an item to satisfy human needs or individual wants beyond the
essentials required to support life - ANSWER-desire
a tract of land that has been divided into lots or blocks - ANSWER-subdivision
according to the theory of consistent use - ANSWER-the improvement must be valued
for the same use as the land
an analysis of a property's linkages is performed in which step of the six-step process? -
ANSWER-property productivity analysis
an appraiser who performs a fundamental demand analysis uses - ANSWER-forecasts
of population, income, and/or employment
an appraiser who performs an inferred demand analysis uses - ANSWER-evidence of
current and historical occupancy and leasing activity
an appraiser who uses historical data as well as forecasts for major variables is
undertaking - ANSWER-fundamental demand analysis
an evaluation of the subject property's direct competition in the market area - ANSWER-
survey of the competion
an inferred demand analysis relies upon _____ and _______ factors to project future
demand - ANSWER-current
historical
analysis of a property's capacity to deliver goods and services to meet human needs -
ANSWER-property productivity analysis
analysis of demand for office space by employment segmentation is based on which of
the following relationships? - ANSWER-total employment housed in a particular class of
office space and the average amount of space each worker occupied
APPRAISAL - ANSWER-the act or process of developing an opinion of value
an opinion of value
a market analysis that culminates in an opinion of value for a particular property
ASSEMBLAGE - ANSWER-the combining of two or more parcels, usually but not
necessarily contiguous, into one ownership or use; the process that may create
plottage.
the combining of separate properties into units, sets, or groups, i.e., integration or
combination under unified ownership
, BASIC INDUSTRY - ANSWER-industries and businesses that generate employment
and income in a community. a community's economic activity that enables it to attract
income from outside its borders
BILATERAL MONOPOLY - ANSWER-only one seller and one buyer
BOUNDARIES - ANSWER-any recognized line or barrier that delineates a perimeter of
a physical area. boundaries may coincide with changes in prevailing land use, occupant
characteristics, natural boundaries, or man-made boundaries
BUILDING COMMON AREA - ANSWER-in office building, the areas of the building that
provide services to building tenants but that are not included in the office area or store
area of any specific tenant.
calculating or estimating a quantity beyond the range of data on which the calculation or
estimate is based on - ANSWER-extrapolation
certification relating to energy conservation and resource recycling - ANSWER-LEED
characterizing market analysis by the way demand is measured - ANSWER-inferred
demand analysis
fundamental demand analysis
classes of office space - ANSWER-trophy class
class A
class B
class C
cluster of similar properties - ANSWER-node
COMPARABLE COMPARISON METHOD - ANSWER-
COMPETITIVE DIFFERENTIAL - ANSWER-the result of a comparison between the
subject property or a competitor against the market standard. the purpose is to discover
the relative strengths and weaknesses of the subject property and the competitive
properties
COMPETITIVE HOUSING - ANSWER-housing that appeals to the same consumer
group as the subject property
COMPETITIVE MARKET AREA - ANSWER-the geographic region adjoining a property
within which a property's DIRECT competitions is located
2024-2025 Rated A+
5 STEPS OF THE SCIENTIFIC METHOD - ANSWER-1. identify the problem
2. formulate a hypothesis
3. establish data requirements
4. apply appropriate methodology
5. reconcile the findings to solve the problem
a building's efficiency ratio is the - ANSWER-building net rentable area of the subject
property divided by its gross building area
a building's efficiency ratio is the - ANSWER-rentable area of the subject property
divided by its gross building area
a data point (observation) that is much larger or smaller than the others in the sample is
an _____ - ANSWER-outlier
a generally known process of problem solving and research in the natural and social
sciences - ANSWER-scientific method
a group of complementary land uses - ANSWER-neighborhood
a lot that is approved and fully prepared to support a building - ANSWER-finished lot
a market analysis that culminates in an opinion of value for a particular property -
ANSWER-appraisal
a market study investigates the market conditions in a general area or a _______ -
ANSWER-property type
a marketability study investigates the market conditions in a specific location for a
_______ - ANSWER-specific type
a measure of a central tendency is intended to identify - ANSWER-where the data tends
to lump in the middle
a measure of dispersion is intended to identify - ANSWER-how the data is spread
around the middle
a process for examing the demand for and supply of a property type and the geographic
market area for that property type - ANSWER-market analysis
,a purchaser's wish for an item to satisfy human needs or individual wants beyond the
essentials required to support life - ANSWER-desire
a tract of land that has been divided into lots or blocks - ANSWER-subdivision
according to the theory of consistent use - ANSWER-the improvement must be valued
for the same use as the land
an analysis of a property's linkages is performed in which step of the six-step process? -
ANSWER-property productivity analysis
an appraiser who performs a fundamental demand analysis uses - ANSWER-forecasts
of population, income, and/or employment
an appraiser who performs an inferred demand analysis uses - ANSWER-evidence of
current and historical occupancy and leasing activity
an appraiser who uses historical data as well as forecasts for major variables is
undertaking - ANSWER-fundamental demand analysis
an evaluation of the subject property's direct competition in the market area - ANSWER-
survey of the competion
an inferred demand analysis relies upon _____ and _______ factors to project future
demand - ANSWER-current
historical
analysis of a property's capacity to deliver goods and services to meet human needs -
ANSWER-property productivity analysis
analysis of demand for office space by employment segmentation is based on which of
the following relationships? - ANSWER-total employment housed in a particular class of
office space and the average amount of space each worker occupied
APPRAISAL - ANSWER-the act or process of developing an opinion of value
an opinion of value
a market analysis that culminates in an opinion of value for a particular property
ASSEMBLAGE - ANSWER-the combining of two or more parcels, usually but not
necessarily contiguous, into one ownership or use; the process that may create
plottage.
the combining of separate properties into units, sets, or groups, i.e., integration or
combination under unified ownership
, BASIC INDUSTRY - ANSWER-industries and businesses that generate employment
and income in a community. a community's economic activity that enables it to attract
income from outside its borders
BILATERAL MONOPOLY - ANSWER-only one seller and one buyer
BOUNDARIES - ANSWER-any recognized line or barrier that delineates a perimeter of
a physical area. boundaries may coincide with changes in prevailing land use, occupant
characteristics, natural boundaries, or man-made boundaries
BUILDING COMMON AREA - ANSWER-in office building, the areas of the building that
provide services to building tenants but that are not included in the office area or store
area of any specific tenant.
calculating or estimating a quantity beyond the range of data on which the calculation or
estimate is based on - ANSWER-extrapolation
certification relating to energy conservation and resource recycling - ANSWER-LEED
characterizing market analysis by the way demand is measured - ANSWER-inferred
demand analysis
fundamental demand analysis
classes of office space - ANSWER-trophy class
class A
class B
class C
cluster of similar properties - ANSWER-node
COMPARABLE COMPARISON METHOD - ANSWER-
COMPETITIVE DIFFERENTIAL - ANSWER-the result of a comparison between the
subject property or a competitor against the market standard. the purpose is to discover
the relative strengths and weaknesses of the subject property and the competitive
properties
COMPETITIVE HOUSING - ANSWER-housing that appeals to the same consumer
group as the subject property
COMPETITIVE MARKET AREA - ANSWER-the geographic region adjoining a property
within which a property's DIRECT competitions is located
