JULY-62024-Mock-Exam-01-100pts

Started on Saturday, 6 July 2024, 8:12 PM
State Finished
Completed on Saturday, 6 July 2024, 10:09 PM
Time taken 1 hour 57 mins
Grade 68.00 out of 100.00
Question 1
Incorrect
Mark 0.00 out of 1.00
001. income is the total rental and miscellaneous income anticipated from a property___________ after vacancy and collection losses:
a. Cash flow 
b. Maximum potential
c. Effective gross
d. Potential gross
The correct answer is: Effective gross
Question 2
Correct
002. A building that has an effective gross income of P 500,000.00 and total operating expenses of P 100,000.00 has what net income ratio?
a. 0.80 
b. 0.90
c. 1
d. 5
The correct answer is: 0.80

Question 3
Correct
003. A building that has an effective gross income of P 500,000.00 and total operating expenses of P 100,000.00 has what operating expense
ratio?
a. 0.10
b. 0.15
c. 0.20 
d. 0.25
Question 4
Correct
004. Given a building with a purchase cost of P45,000,000.00, an estimated economic life of 25 years, and an actual age of 7 years. Compute
the amount of the building’s total depreciation:
a. P 12,600,000 
b. P 13,600,000
c. P 11,600,000
d. P 14,600,000
The correct answer is: P 12,600,000
Question 5
Incorrect
005. A good’s capacity to satisfy human desires or needs is known as:
a. Creative demand 
b. Utility
c. Functional obsolescence
d. Effective demand
The correct answer is: Utility

Question 6
Correct
006. A single-family residence that sold recently for P 2,850,000.00 can be rented for P 14,000 per month. The property’s gross rent multiplier
is:
a. 17 
b. 204
c. 207
d. 210
The correct answer is: 17
Question 7
Correct
007. Adjustments in the sales comparison approach are commonly made for:
a. Financing terms
b. Conditions of sale
c. Location and physical characteristics
d. All of these 
The correct answer is: All of these
Question 8
Incorrect
008. After estimating the cost to reproduce or replace an existing structure, an appraiser normally estimates and deducts:
a. Land value 
b. Cost to cure
c. Accrued depreciation
d. Entrepreneurial profits
The correct answer is: Accrued depreciation

Question 9
Incorrect
009. An appraisal review assignment:
a. Must include the reviewer’s opinion of the value of the subject property of the report under review, as of the date of the first 
appraisal
b. Must not include the reviewer’s opinion of the value of the subject property of the report under review, as of the first appraisal
c. Can include the reviewer’s opinion of the value of the subject property of the report under review, as of the date of the appraisal
d. Must include the reviewer’s opinion of the value of the subject property of the report under review, as of the review appraisal.
The correct answer is: Must not include the reviewer’s opinion of the value of the subject property of the report under review, as of the first
appraisal
Question 10
Correct
010. An appraiser:
a. Determine price
b. Measures and develops an opinion of value 
c. Measure price
d. Determine values
The correct answer is: Measures and develops an opinion of value
Question 11
Correct
011. Appraisal are always used:
a. To settle divorces
b. To settle lawsuits
c. To make residential mortgages
d. To solve problems that involve real estate valuation 
The correct answer is: To solve problems that involve real estate valuation
Question 12
Correct
012. Appraisal is:
a. Th report conveyed to the client

b. A lucrative profession
c. The act or process of developing an opinion of value 
d. The act or process of telling the client the market value of the real estate
The correct answer is: The act or process of developing an opinion of value
Question 13
Incorrect
013. In the formula for the net income ratio:
a. Effective gross income is divided by potential gross income

b. Potential gross income is divided by effective gross income
c. Effective gross income is divided by net operating income 
d. Net operating income is divided by potential gross income
The correct answer is: Net operating income is divided by potential gross income
Question 14
Correct
014. In the formula for the operating expense ratio:
a. Operating expenses are divided by effective gross income 

b. Effective gross income is divided by operating expenses
c. Potential gross income is divided by effective gross income
d. Effective gross income is divided by potential gross income
The correct answer is: Operating expenses are divided by effective gross income
Question 15
Correct
015. Land is unique because:
a. No two parcels have the same soil composition

b. No two parcels have the same owners
c. No two parcels have the same tax levies
d. No two parcels can occupy the same space on the face of the earth 
The correct answer is: No two parcels can occupy the same space on the face of the earth
Question 16
Incorrect
016. Private limitations on real property ownership include all of the following except:
a. Easements
b. Encroachments
c. Escheat
d. Deed restrictions 
The correct answer is: Escheat
Question 17
Correct
017. Real property has value because:
a. It is nearby
b. It is popular
c. It is desirable
d. It provides future benefits 
The correct answer is: It provides future benefits

Question 18
Correct
018. The basic information in the sales comparison approach is:
a. Comparison of size and architecture of properties

b. Loan terms on area properties
c. Original cost of comparable properties
d. Recent market prices of comparable properties 
The correct answer is: Recent market prices of comparable properties
Question 19
Correct
019. The concept of the “Typically informed buyer and seller” is used in estimating:
a. Market value 
b. Strict liability
c. Replacement value
d. None of the above
The correct answer is: Market value
Question 20
Incorrect
020. The concept of land is:
a. Leasehold, leased fib and fee simple

b. Land, labor, capital and entrepreneurialism 
c. Land is immobile, durable, finite and useful
d. Governmental and legal, economics, social, geographic and environmental
The correct answer is: Land is immobile, durable, finite and useful
Question 21
Correct
021. The elements of Financial Reporting are:
a. Assets, liabilities, Owner’s Equity

b. Revenues, Expenses, Contributions, Distributions
c. Both of these 
d. Either of these
The correct answer is: Both of these
Question 22
Incorrect
022. The predominant depreciation category for severe termite damage throughout a structure:
a. Physical deterioration - curable 

b. Physical deterioration - long-lived incurable
c. Functional obsolescence - curable
d. External obsolescence - incurable
The correct answer is: Physical deterioration - long-lived incurable
Question 23
Correct
023. The ratio of net operating income to effective gross income is the:
a. Operating expense ratio

b. Net income ratio 
c. Effective gross income ratio
d. Break-even ratio
The correct answer is: Net income ratio

Question 24
Incorrect
024. The ratio of the operating expenses plus annual debt service to potential gross income is:
a. Operating expense ratio 

b. Net income ratio
d. Break-even ratio
The correct answer is: Break-even ratio
Question 25
Correct
025. The ratio of total operating expenses to effective gross income is the:
a. Operating expense ratio 

b. Net income ratio
d. Break-even ratio
The correct answer is: Operating expense ratio
Question 26
Incorrect
026. The tenant of a small, freestanding retail building is a baker who has installed ovens to bake breaD. The ovens are large and heavy and
were:
a. You should not include the ovens because they are trade fixtures.
b. You should include the oven in the appraisal because they are worth a lot of money and will add a lot to the property value 
c. You should include the ovens as part of the real estate since it would be difficult to remove them
d. You should not include the ovens because they add no value in most markets
The correct answer is: You should include the ovens as part of the real estate since it would be difficult to remove them
Question 27
Correct
027. The value increment derived from greater utility when two or more sites are assembled under a single ownership is called:
a. Zoning
b. Synergistic, Plottage, or Marriage 
c. Ground rent
d. Land easement
The correct answer is: Synergistic, Plottage, or Marriage
Question 28
Correct
028. Unusually high quality or oversized improvements or components, which are classified as super adequacies:
a. May result in functional inadequacy and detract from value

b. Add to value in proportion to their cost
c. Are so classified because they represent departures from prevailing market standards
d. Both a and c 
The correct answer is: Both a and c
Question 29
Correct
029. Value means the:
a. Worth, usefulness or utility of an object to someone for some purpose

b. Importance, transferability, and usefulness of an object to someone for some purpose 
c. Usefulness, transferability and utility of an object to someone for some purpose
The correct answer is: Importance, transferability, and usefulness of an object to someone for some purpose
Question 30
Correct
030. When real property is sold by one person to another, the amount of money used to compensate the seller is called:
a. The cost of the real property

b. The value of the real property
c. The price of the real property 
d. The income of the real property
The correct answer is: The price of the real property
Question 31
Correct
031. You are a licensed appraiser who has been asked to help sell a small family farm. The client specifically needs help with a market plan:
a. Acting as an appraiser
b. Acting as a consultant, not an appraiser 
c. Violating the code of ethics for appraisers
d. Not competent to perform the assignment
The correct answer is: Acting as a consultant, not an appraiser
Question 32
Correct
032. You are appraising a small residential property and observe that there is clothes washer and dryer in the property.
a. You should not include these items because they are personal property
b. You can include them because they were intended to be left with the property
c. You cannot include these items because they could be taken out when the current owners leave
d. You can include these items but you need to identify them in the appraisal as such an estimate their contributory value 
The correct answer is: You can include these items but you need to identify them in the appraisal as such an estimate their contributory value
Question 33
Correct
033. “Based on existing market conditions, houses in that market should sell for approximately P 162,000.00,” is a ___________ of ___________
value:
a. Establishment, purchase
b. Estimate, market 
c. Certified appraisal, exchange
d. Certified appraisal, market
The correct answer is: Estimate, market
Question 34
Correct
034. 1/2 plus 3/7 is equal to:
a. 5/7
b. 13/14 
c. 11/14
d. 10/7
The correct answer is: 13/14
Question 35
Correct
035. 15/16 divided 1/3 is equal to:
a. 14/16
b. 2 13/16 
c. 2 11/16
The correct answer is: 2 13/16

Question 36
Correct
036. 2/3 minus 1/8 is equal to:
a. 13/24 
b. 3/8
c. 15/24
The correct answer is: 13/24
Question 37
Correct
037. A bad floor plan would generally be classified as:
a. Physical depreciation
b. Economic obsolescence
c. Functional obsolescence 
d. Economic deterioration
The correct answer is: Functional obsolescence
Question 38
Incorrect
038. A balloon payment will normally be required when a loan is:
a. Partly amortized
b. Paid in full
c. Fully amortized 
d. Miscalculated
The correct answer is: Partly amortized

Question 39
Correct
039. A building that has an effective gross income of P 500,000.00 and total operating expenses of P 100,000.00 has what net income ratio?
a. 0.80 
b. 0.90
c. 1
d. 5
Question 40
Correct
040. A building that has an effective gross income of P 500,000.00 and total operating expenses of P 100,000.00 has what operating expense
ratio?
a. 0.10
b. 0.15
c. 0.20 
d. 0.25
Question 41
Correct
041. A buyer invests in a small strip center because she believes the property will net P250,000.00 per year. This is an example of:
a. Anticipation 
b. Change
c. Competition
d. Substitution
The correct answer is: Anticipation

Question 42
Correct
042. A church in a residential area is an example of:
a. Police power
b. Forecast absorption
c. A nonconforming use 
d. A private restriction
The correct answer is: A nonconforming use
Question 43
Correct
043. A common example of an interim use would be:
a. A starter home
b. A downtown parking lot 
c. A subdivision during the “Pink Report” stage
d. An easement
The correct answer is: A downtown parking lot
Question 44
Correct
044. A comparable property is identical to the subject property being appraised. The comparable sold six months ago for P 1,000,000.00. as
the:
a. P 800,000.00
b. P 1,000,000.00
c. P 1,050,000.00
d. Uncertain 
The correct answer is: Uncertain

Question 45
Incorrect
045. A conditions of sale adjustment reflects:
a. The differences in the market on the effective date of the appraisal and the dates of sale of the comparable 
b. The differences in sale prices of properties that sold from non-related parties
c. The differences in the sale prices of properties that sold for cash and the ones the sold with financing
d. The differences between the-motivations of the seller and buyer on the date of sale of a comparable and the typical motivations of
buyers
The correct answer is: The differences between the-motivations of the seller and buyer on the date of sale of a comparable and the typical
motivations of buyers
Question 46
Correct
046. A condominium is essentially a distinctive type of:
a. Building
b. Ownership 
c. Luxury
d. Easement
The correct answer is: Ownership
Question 47
Correct
047. A conventional loan is most nearly the opposite of a ________loan:
a. Jumbo
b. Adjustable rate
c. Insured or guaranteed 
d. Alternative
The correct answer is: Insured or guaranteed

Question 48
Correct
048. A creditor’s claim against another’s real property resulting from a debt owed to the creditor is called a/an._________
a. Easement
b. Note
c. Judgement
d. Lien 
The correct answer is: Lien
Question 49
Incorrect
049. A deed is required by law to contains a description: _______
a. Legal
b. Adequate 
c. Metes and bounds
d. Tract and block
The correct answer is: Metes and bounds
Question 50
Correct
050. A deed of trust is:
a. A document that makes a third party responsible for the money

b. A document that gives a third party the deed until the mortgage loan is paid . 
c. A deed given by a prisoner who has behaved for many years
d. Used as tool to make foreclosure more efficient
The correct answer is: A document that gives a third party the deed until the mortgage loan is paid .
Question 51
Incorrect
051. A deed should be recorded because:
a. Recording gives public notice of the transaction and sets the priority
b. It is required by law
c. Tide does not pass until the deed is recorded
d. Recording makes the deed a legal document 
The correct answer is: Recording gives public notice of the transaction and sets the priority
Question 52
Correct
052. A financial institution considering a loan on a single family home would probably request a appraisal report
a. Form
b. Oral
c. Letter
d. Narrative 
The correct answer is: Narrative
Question 53
Correct
053. A house and lot are priced at P 8,800,000.00. The lot alone is valued at P 1,650,000.00. What percentage of the total asking price is
attributable?
a. 18.5%
b. 19.0%
c. 18 3/4 % 
d. 18 1/4 %
The correct answer is: 18 3/4 %

Question 54
Incorrect
054. A leasehold interest may be created only if the contract rent is:
a. Greater than market rent 

b. Less than the market rent
c. Equal to market rent
The correct answer is: Less than the market rent
Question 55
Correct
055. A letter of transmittal would not include:
a. Property address
b. Neighborhood data 
c. The effective date of the appraisal
d. Identification of interests appraised
The correct answer is: Neighborhood data
Question 56
Incorrect
056. A life estate ends with the death of the:
a. Grantor 
b. Grantee
c. Specified third party
d. Any of the above, as determined by the grantor
The correct answer is: Grantee

Question 57
Correct
057. A life estate is a partial interest in real estate, consisting of total rights of use, occupancy, and control, but limited to the lifetime of the:
a. Grantor
b. Grantee
c. Life tenant 
d. Any of the above
The correct answer is: Life tenant
Question 58
Correct
058. A life estate is a :
a. Present, possessory interest 

b. Future interest
c. Estate of tenancy
d. Fee simple defeasible
The correct answer is: Present, possessory interest
Question 59
Incorrect
059. A loan which is not made, insured, or guaranteed by an agency of the National Government (NG) is called:
a. Conventional
b. High-risk
c. Private 
d. Conforming
The correct answer is: Conventional

Question 60
Incorrect
060. A long-lived component of a building is one with expected economic life that is the ______ economic life of the entire structure.
a. Shorter than
b. Longer than
c. The same as
d. Different from 
The correct answer is: The same as
Question 61
Incorrect
061. A major requirement and limitation of the market approach or sales comparison approach is that it requires:
a. Accurate information on investor’s expectations 

b. Accurate cost information
c. Several new constructions
d. An active market of competitive properties
The correct answer is: An active market of competitive properties
Question 62
Incorrect
062. A_________market is one with many properties for sale and relatively few potential buyers.
a. Demand
b. Buyers
c. Seller’s 
d. Perfect
The correct answer is: Buyers

Question 63
Correct
063. A market requires all except
a. Supply and demand

b. Transferable goods and services
c. A physical marketplace where transactions occur 
d. Buyers and sellers
The correct answer is: A physical marketplace where transactions occur
Question 64
Correct
064. A market with few properties for sale and many potential buyers is called a market
a. Demand
b. Buyers
c. Seller’s 
d. Low-priced
The correct answer is: Seller’s
Question 65
Correct
065. A method of estimating accrued depreciation in which the total loss in property value is estimated by analyzing and measuring each
cause:
a. Market extraction method

b. Breakdown method 
c. Quantity survey method
d. Age-life method
The correct answer is: Breakdown method

Question 66
Incorrect
066. A mortgage is a:
a. Document that makes a barrower promise to repay the money

b. Document that gives the interest rate and terms of a loan
c. Pledge of collateral for a real estate loan 
d. Pledge of collateral for a car loan
The correct answer is: Document that makes a barrower promise to repay the money
Question 67
Correct
067. A narrative report is:
a. The least detailed report option available

b. The most detailed report option available 
c. The most detailed appraisal option
d. The least detailed appraisal reporting option
The correct answer is: The most detailed report option available
Question 68
Correct
068. A neighborhood is:
a. A residential subdivision
b. An area with similar zoning and density
c. A group of complementary land uses 
d. An area with homes of the same price
The correct answer is: A group of complementary land uses

Question 69
Correct
069. A neighborhood’s life cycle consists of which of the following states?
a. Growth, stability, decline and disintegration

b. Growth, stability, decline and revitalization 
c. Stability, decline, gentrification and gratification
The correct answer is: Growth, stability, decline and revitalization
Question 70
Correct
070. A parcel of farmland lies in the path of development of a metropolitan area, two freeway exists beyond an area currently being built up
with tract:
a. Interim 
b. Nonconforming
c. Obsoletep
d. Highest and best
The correct answer is: Interim
Question 71
Correct
071. A property has a poor floor plan because it has only 1 ¥2 bathrooms in a market that clearly requires 2 or 2 ¥2 bathrooms. This problem
could:
a. Functional incurable obsolescence

b. External curable obsolescence
c. Physical curable obsolescence
d. Functional curable obsolescence 
The correct answer is: Functional curable obsolescence

Question 72
Incorrect
072. A property has an overhead garage door that is 13 years old. It cost $1,900 to replace. Because the inclement weather comes out of the
northwest, these doors typically last 15 years if they face west and 25 ears of they face east. The door faces east. What is the amount of the
value left on this item?
a. $253
b. $912
c. $988 
d. $1,647
The correct answer is: $912
Question 73
Correct
073. A property just sold for P 1,000,000.00 and the gross income was P 235,000.00 per year. The operating expenses were P 100,000.00. what
can you say?
a. The ratio of gross income to sale price is 23.5%

b. The ratio of sale price to gross income is 425%
c. The ratio of net income to sale price is 13.5%
d. All of these 
Question 74
Correct
074. A property that has been maintained will usually have an effective age its actual age.
a. Well, greater than

b. Well, lower than 
c. Poorly, lower than
d. Poorly, equal to
The correct answer is: Well, lower than

Question 75
Correct
075. A property's price in a given transaction is a historical fact which market value.
a. May or may not have a specific relationship to its 

b. Establishes its future
c. Is wholly irrelevant to its
d. Establishes its present
The correct answer is: May or may not have a specific relationship to its
Question 76
Correct
076. A property’s highest and best use is that which is most, from among those uses which are physically possible, legally permitted, and
economically:
a. Profitable 
b. Probable
c. Long-lasting
d. Socially responsible
The correct answer is: Profitable
Question 77
Correct
077. A property’s highest and best use need not be:
a. Economically feasible
b. Legally permitted
c. The current use 
d. Physically possible
The correct answer is: The current use

Question 78
Correct
078. A property’s highest and best use:
a. Is unaffected by market forces

b. Is unchanging, in contrast to actual use which varies over time
c. Is stated as of the effective date of the appraisal 
d. Is purely speculative in nature
The correct answer is: Is stated as of the effective date of the appraisal
Question 79
Correct
079. A real estate market is:
a. A shopping center office of a realty company

b. A group of individuals or firms that are in contract with one another for the purpose of conducting real estate transactions 
c. A list of potential buyers for the subject
d. A list of potential sellers who have property similar to the one requested by the buyer
The correct answer is: A group of individuals or firms that are in contract with one another for the purpose of conducting real estate
transactions
Question 80
Correct
080. A reconstructed operating statement should include:
a. Income tax
b. Book depreciation
c. Management charges 
d. Additional to capital
The correct answer is: Management charges

Question 81
Incorrect
081. A report communicated orally to a client must be supported by a work file:
a. And, at a minimum, followed up by a written summary of the valuation

b. No written report needs to be submitted after the oral report
c. Both of these 
d. None of these
The correct answer is: And, at a minimum, followed up by a written summary of the valuation
Question 82
Correct
082. A revocable personal privilege allowing a person to go upon or use land belonging to another is called a/an:
a. Easement
b. Encroachment
c. License 
d. Life estate
The correct answer is: License
Question 83
Incorrect
083. A sample consists of the observations 85, 79,87,91,82, 75, 72, 68, find the midrange.
a. 75.0
b. 79.5
c. 79.9 
d. 79.00

Question 84
Correct
084. A seller pays the lender P 200,000.00 so the lender can offer a lower rate and lower payments early in the mortgage term, enabling the
buyer:
a. Kickback
b. Buydown 
c. Balloon payment
d. Unethical practice
The correct answer is: Buydown
Question 85
Incorrect
085. A series of equal periodic receipts is referred to as a/an:
a. Debt service
b. Annuity
c. Equity dividend
d. Amortization 
The correct answer is: Annuity
Question 86
Correct
086. A single-family home owner who builds a new and unique structure will commonly find that:
a. The uniqueness will cause the market to like it and pay more for it
b. Properties that do not conform to the popular designs will sell for more
c. By definition, uniqueness means that fewer people will want to buy it 
d. The market will pay as much for this property as any other because of its unique nature
The correct answer is: By definition, uniqueness means that fewer people will want to buy it
Question 87
Incorrect
087. A site is land with:
a. Or without improvements 
b. Man-made improvements to the extent that it is ready for use
c. Marketability
d. Legal boundaries
The correct answer is: Man-made improvements to the extent that it is ready for use
Question 88
Incorrect
088. A technique for extracting adjustments based on the contribution of a feature is called:
a. Grid analysis
b. Cost analysis 
c. Income analysis
d. Paired sales analysis
The correct answer is: Paired sales analysis
Question 89
Incorrect
089. A trade fixture:
a. Contributes to the value of the property to which it is attached 

b. Contributes nothings to the value of real estate
c. Is considered, but given no value by real estate appraisers
d. Both (b) and (c)
The correct answer is: Both (b) and (c)

Question 90
Incorrect
090. A unit of comparison based on property’s utility would be sales price per:
a. Square meter of living

b. Bedroom 
c. Square meter of foundation area
d. Years of remaining life
The correct answer is: Square meter of foundation area
Question 91
Incorrect
091. A unit of comparison commonly used for appraising single family residences is price per:
a. Square meter 
b. Cubic meter
c. Room
d. Any of these, depending on the market and local custom
The correct answer is: Any of these, depending on the market and local custom
Question 92
Correct
092. A valuation claiming to be prepared under the International Valuation Standards (IVS):
a. Binds the Valuer to follow the IVS Code of Conduct 

b. Does not bind the Valuer to follow the IVS Code of Conduct
c. Any of these
d. None of these
The correct answer is: Binds the Valuer to follow the IVS Code of Conduct
Question 93
Correct
093. A Valuation Report:
a. Is a document that records the instructions for the assignment, the basis and purpose of the valuation, and the results of the analysis.
b. May also explain the analytical processes undertaken in carrying out the valuation, and present meaningful information used in the
analysis.
c. Can be either oral or written.
d. All of these 
Question 94
Incorrect
094. A value of a building with a first year net operating income of P 200,000.00 and with an overall capitalization rate of 9.52% is:
a. P 1,904.00
b. P 19,040.00
c. P 194.00
d. None of the above 
The correct answer is: P 19,040.00
Question 95
Correct
095. A Valuer must at all times deal with clients’ affairs with:
a. Proper discretion and confidentially 

b. Utmost braggadocio
c. Both of these
d. None of these
The correct answer is: Proper discretion and confidentially

Question 96
Incorrect
096. A Valuer must disclose any:
a. direct personal or corporate relationship with the property or company that is the subject of any assignment and that might lead to
b. indirect personal or corporate relationship with the property or company that is the subject of any assignment and that might 
lead to
c. both of these
d. either of these
The correct answer is: both of these
Question 97
Correct
097. A Valuer should prepare a work file for each assignment which, upon completion, should contain a true copy, in paper or electronic form
suitable:
a. Six months
b. One year
c. Three years
d. Five years 
The correct answer is: Five years
Question 98
Correct
098. According to the principle of, the valuer of a property in the market tends to be the cost of acquiring an equally desirable property.
a. Equilibrium
b. Substitution 
c. Balance
d. Supply and demand
The correct answer is: Substitution

Question 99
Correct
099. According to the principle of, the maximum value of a property will not exceed_________ the cost of its replacement
a. Supply and demand

b. Substitution 
c. Balance
d. Increasing and decreasing returns
The correct answer is: Substitution
Question 100
Correct
100. According to the principle of increasing and decreasing returns, additional investments in a given property add to its value at a rate
which:
a. At an ever-increasing rate
b. Only up to the point at which maximum value is developed 
c. Only after the point at which maximum value is developed
d. Completely unpredictably
The correct answer is: Only up to the point at which maximum value is developed

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Started on Saturday, 6 July 2024, 8:12 PM

Mark 0.00 out of 1.00

The correct answer is: Effective gross

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The correct answer is: 0.80

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The correct answer is: 0.20

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The correct answer is: P 12,600,000

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005. A good’s capacity to satisfy human desires or needs is known as:

The correct answer is: Utility

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The correct answer is: 17

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The correct answer is: All of these

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The correct answer is: Accrued depreciation

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009. An appraisal review assignment:

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The correct answer is: Measures and develops an opinion of value

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011. Appraisal are always used:

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012. Appraisal is:

a. Th report conveyed to the client

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013. In the formula for the net income ratio:

a. Effective gross income is divided by potential gross income

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014. In the formula for the operating expense ratio:

a. Operating expenses are divided by effective gross income 

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015. Land is unique because:

a. No two parcels have the same soil composition

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The correct answer is: Escheat

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017. Real property has value because:

The correct answer is: It provides future benefits

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018. The basic information in the sales comparison approach is:

a. Comparison of size and architecture of properties

The correct answer is: Recent market prices of comparable properties

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The correct answer is: Market value

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020. The concept of land is:

a. Leasehold, leased fib and fee simple

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021. The elements of Financial Reporting are:

a. Assets, liabilities, Owner’s Equity

The correct answer is: Both of these

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a. Physical deterioration - curable 

The correct answer is: Physical deterioration - long-lived incurable

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a. Operating expense ratio

The correct answer is: Net income ratio

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a. Operating expense ratio 

The correct answer is: Break-even ratio

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