Basic Appraisal Principles Final Exam with complete solutions graded A+

Basic Appraisal Principles Final ExamIn a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? - correct answer there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a business and share in its profits and losses" is the definition of - correct answer partner transferable development rights ship Property Owner A has the right to develop his property into 10 lots. He sells this right to nearby Property Owner B who wishes to develop his property into additional lots. This is an example of - correct answer transferable development rights What is the mean of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129) - correct answer 104 Short term money instruments are traded on the - correct answer money market Which entity is responsible for making periodic changes to USPAP? - correct answer Appraisal Standards Board The real property market is generally classified as a(n) __________ market. - correct answer imperfect The appraisal standards and qualification criteria that are published by The Appraisal Foundation achieve legal authority by adoption, citation or implementation by - correct answer government agencies with the power to regulate or administrate Eric pays $35,000 to have an inground swimming pool constructed in his back yard. When he sells the property, he only receives $10,000 more for his property than what similar property sold for without a pool. This is an example of the principle of - correct answer contribution