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State Cert Exam - AI Test Questions, CGA Exact Questions _ EXAM QUESTIONS AND ANSWERS
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State Cert Exam - AI Test Questions, CGA Exact Questions _ EXAM QUESTIONS AND ANSWERS
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8/29/24, 9:02 PM*State Cert Exam - AI Test Questions, CGA Exact Questions
Jeremiah
Terms in this set (179)
In preparing a market value appraisal with a Yes; the appraiser may use data subsequent to the effective date as a confirmation of
retrospective date of value, is the appraiser trends.
allow to consider any information after the
effective date of value, and why?
Which of the following values would a bank Going concern value
request for a new loan on an established
hotel?
Which of the following demand-side Desire & effective purchasing power
economic factors creates value?
An appraiser concluded a market-derived Investment value
9% overall capitalization rate within the
income cap approach. The user of the
appraisal asked the appraiser to render a
second value based upon the user's required
8.75% overall rate. What definition of value
applies to the secondary value conclusion?
Which of the following methods of cost Quantity survey
estimating is the most comprehensive and
accurate?
An appraiser is contacted by a property The appraiser must disclose the the commission in the certification & any letter of
manager to appraise a large & complex non- transmittal that includes conclusions.
residential property. The property manager
requires the appraiser pay $3,000 to procure
the assignment. How can the appraiser
accept the assignment & still comply with
USPAP?
What construction class of buildings has Class D
wood or light steel frames & roof structures?
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, 8/29/24, 9:02 PM
What term describes the lump sum benefit Reversion
an investor receives upon termination of an
investment or at the intermediate analysis
period during the term of an investment?
A staff appraiser, employed by a local bank No; the appraiser may make arrangements with the bank to access or retrieve the files.
for 5 years, plans to leave the bank to open
an independent appraisal business. Must the
appraiser remove all work files for
assignments completed for the bank?
An appraiser receives an appraisal The appraiser must disclose in the report's certification that no prior services has been
assignment. The appraiser has not performed performed in the last three years.
any services in connection with this property
in the past three years. What disclosures are
required under the USPAP?
The assignment is to value a 9,600 sf church Market value
on a 25-acre single family parcel. Residential
land is currently selling for $55,000 an acre.
However, demand for new single-family
construction is eight years out with a
discount rate of 15%. Similar churches have
recently sold for between $50-$55 sf. What
type of value is illustrated?
A parcel in the path of development is Interim use
zoned for high-density apartment use. It
currently has a single-unit owner-occupied
dwelling on the site. The improvements do
not represent the highest & best use of the
site but the current use is likely to continue
until competing sites are developed. How is
the highest & best use of the site as
improved described?
Which influence on real estate is considered Extent of owner occupancy
economic
In what part of the appraisal report must Certification
prior services be disclosed?
What type of assignment should be Market analysis
employed to determine general conditions
of supply, demand, & pricing for a specific
property type?
The subject property is a 6,000 ft by 1,452 ft Surplus land
home site with a single-unit dwelling. When
the site was platted, there was no zoning.
The current zoning requires a 160-acre
minimum site size for a residence. What is the
status of the lot?
The appraisal assignment of a building under Prospective market value and extraordinary assumption
construction requires a value as of the date
of stabilized occupancy. What value is
required, and what assignment condition is
employed?
*State Cert Exam - AI Test Questions, CGA Exact Questions
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