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RPA Level 3 Questions and answers /100% pass
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RPA Level 3 Questions and answers /100% pass
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RPALevel
3
Questions
and
answers
/100%
pass
The
appraisal
phase
includes
the
-
ANSWER-administration
of
exemptions
The
appraisal
district
board
of
directors
does
not
-
ANSWER-appraise
property
Listing
is
-
ANSWER-the
process
of
recording
property
characteristics
in
the
appraisal
district
The
10%
cap
on
appraisal
increase
applies
to
-
ANSWER-all
residential
homesteads
Appraisal
value
less
the
total
amount
of
exemptions
that
apply
equals
-
ANSWER-taxable
value
Inventory
in
a
feed
store
is
not
exempt
-
ANSWER-under
state
law
The
phase
in
which
the
governing
body
sets
the
tax
rate
is
-
ANSWER-the
assessment
phase
Can
the
property
owner
protest
the
appraisal
of
a
category
of
a
property?
-
ANSWER-no
To
be
publicly
recognized,
deeds
must
be
recorded
with
-
ANSWER-the
county
clerk
in
the
county
where
the
property
is
located
In
most
counties,
the
arb
must
complete
substantially
all
hearings
and
approve
the
appraisal
records
by
-
ANSWER-July
20
Levy
divided
by
taxable
value
equals
-
ANSWER-Tax
rate A
document
prepared
by
the
tax
collector
that
shows
the
amount
of
delinquent
tax,
penalty,
and
interest
due
on
a
property
is
a
-
ANSWER-tax
certificate
Conditions
of
ownership
can
-
ANSWER-increase
or
decrease
a
property's
value
It
is
imperative
that
tax
offices
and
appraisals
districts
work
together
in
maintaining
-
ANSWER-accurate
ownership
records
"Accepted
appraisal
practice"
means
-
ANSWER-producing
an
estimated
of
value
through
an
orderly
set
of
steps
which
eliminates
bias
and
enable
testing
Land
value
may
be
estimated
using
-
ANSWER-the
market
or
income
approach
Explain
the
bundle
of
rights
-
ANSWER-Total
ownership
of
property
consists
of
a
number
of
distinct
and
seperable
rights
A
value
schedule
will
reflect
the
value
of
a
structure
would
have
if
it
were
-
ANSWER-100%
good
(RCN)
The
chief
appraiser,
under
law,
must
use
the
income
approach
when
-
ANSWER-appraising
properties
that
qualify
for
special-use
valuation
Depreciation
refers
to
-
ANSWER-an
improvements
loss
of
value
from
all
causes
You
must
always
adjust,
or
consider
adjusting,
the
value
schedule
to
reflect
the
-
ANSWER-subject
property's
depreciation
Most
appraisal
districts
base
value
schedules
for
residential
properties
on
a
combination
of`
-
ANSWER-market
approach
and
cost
approach
When
the
most
probable
use
for
a
property
is
single
family
residential,
the
use
is
-
ANSWER-consumptive
One
source
of
generally
accepted
appraisal
practice
is
-
ANSWER-Uniform
Standards
of
Professional
Appraisal
Practice
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