BASIC APPRAISAL PROCEDURES FINAL EXAM QUESTIONS
WITH COMPLETE SOLUTION
Appraisal fees are examples of _______________ costs.
Indirect Costs
Segregated cost method is another name for the _________ method.
Unit-In place
The most common type of framing in residential construction today is
Platform Frame
Ranking analysis is a form of __________ analysis.
Qualitative
A partial estate could be created by the existence of all the following EXCEPT
Condominium
Fannie Mae says the cost approach ____________________.
Is optional
When the property being appraised is a one-family property that will be used as
an investment property, Fannie Mae requires that the appraiser must prepare a
______________.
Form 1004, Form 1007
The method that estimates land value based on a percentage of the total property
value is the _______________ method.
Allocation
In a federally related transaction, a licensed residential appraiser is permitted to
appraise non-complex 1-4 unit residential properties with a transaction value of
less than ________ and complex 1-4 unit residential properties with a transaction
value less than _________.
$1,000,000 and $250,000
The ground rent capitalization method should only be used when appraising a
property that is
income-producing or suitable for income production
Which of the stages in the life cycle of a market area does not always occur?
Revitalization
Which type of valuation analysis would typically NOT include a separate site
valuation?
Gross Rent Multiplier
Price per room is a common unit of comparison when appraising
2-4 unit residential properties
A one-and-a-half-story house is commonly known as a
Cape Cod
In most residential appraisals, the appraiser values
Site
"A method of estimating land value in which the depreciated cost of the
improvements on the improved property is calculated and deducted from the total
WITH COMPLETE SOLUTION
Appraisal fees are examples of _______________ costs.
Indirect Costs
Segregated cost method is another name for the _________ method.
Unit-In place
The most common type of framing in residential construction today is
Platform Frame
Ranking analysis is a form of __________ analysis.
Qualitative
A partial estate could be created by the existence of all the following EXCEPT
Condominium
Fannie Mae says the cost approach ____________________.
Is optional
When the property being appraised is a one-family property that will be used as
an investment property, Fannie Mae requires that the appraiser must prepare a
______________.
Form 1004, Form 1007
The method that estimates land value based on a percentage of the total property
value is the _______________ method.
Allocation
In a federally related transaction, a licensed residential appraiser is permitted to
appraise non-complex 1-4 unit residential properties with a transaction value of
less than ________ and complex 1-4 unit residential properties with a transaction
value less than _________.
$1,000,000 and $250,000
The ground rent capitalization method should only be used when appraising a
property that is
income-producing or suitable for income production
Which of the stages in the life cycle of a market area does not always occur?
Revitalization
Which type of valuation analysis would typically NOT include a separate site
valuation?
Gross Rent Multiplier
Price per room is a common unit of comparison when appraising
2-4 unit residential properties
A one-and-a-half-story house is commonly known as a
Cape Cod
In most residential appraisals, the appraiser values
Site
"A method of estimating land value in which the depreciated cost of the
improvements on the improved property is calculated and deducted from the total
