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Residential Appraiser Site Valuation and Cost Approach exam with verified answers
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Residential Appraiser Site Valuation and Cost Approach exam with verified answers
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Residential Appraiser Site Valuation andCost Approach exam with verified
answers
Direct |costs |are |sometimes |called |________ |costs.
improvement
hard
soft
entrepreneurial |profit |- |ANSWERS✔✔hard
A |comparable |new |property |recently |sold |for |$445,000 |and |contained |2,630 |SF. |You |estimate |
the |site |value |to |be |$90,000 |and |the |value |of |the |site |improvements |to |be |$25,000. |What |
portion |of |the |selling |price |would |be |attributed |to |the |building |improvements?
$330,000
$355,000
$365,000
$385,000 |- |ANSWERS✔✔$330,000
A(n) |__________ |easement |is |a |positive |easement.
Access |easement
Conservation |easement
Historic |preservation |easement
Facade |easement |- |ANSWERS✔✔Access |easement
You |examine |a |construction |contract |to |build |a |2,156 |square |foot |house. |The |total |cost |is |
$295,450. |The |site |improvements |cost |$26,000. |How |much |is |the |indicated |cost |per |square |
foot |of |the |improvements?
,$109,024
$117.843
$124.98
$128.08 |- |ANSWERS✔✔$124.98
The |____________ |sale |price |of |homes |in |a |market |area |and |the |___________ |land |sale |price |
in |that |market |area |could |be |used |in |calculating |land |values |by |the |allocation |method.
Median, |mean
Mean, |modal
Median, |median
Modal, |average |- |ANSWERS✔✔Median, |median
By |definition, |mass |appraisals |employ |all |of |the |following |EXCEPT
Standard |methodology
Statewide |data
Common |data
Statistical |testing |- |ANSWERS✔✔Statewide |data
Which |of |these |is |NOT |a |quantitative |method |of |valuation?
Ground |rent |capitalization
Ranking |analysis
Sales |comparison |analysis
Discounted |cash |flow |analysis |- |ANSWERS✔✔anking |analysis
The |house |you |are |appraising |has |a |total |cost |new |of |$244,085. |It |is |15 |years |old |and |has |an |
estimated |remaining |economic |life |of |45 |years. |The |cost |to |cure |deferred |maintenance |items |
is |$1,225. |Replacement |cost |of |short |lived |items |have |been |identified |totaling |$14,600. |What |is
|the |amount |of |long-lived |depreciation |attributable |to |the |building?
,$46,902
$57,065
$58,873
$60,717 |- |ANSWERS✔✔$57,065
You |find |a |comparable |sale |that |recently |sold |for |$300,000. |The |typical |land |value |to |property |
value |ratio |in |that |area |is |30:70. |By |allocation, |what |is |the |value |of |the |land |for |that |
comparable |sale?
$90,000
100,000
$120,000
$210,000 |- |ANSWERS✔✔$90,000
Which |would |be |an |example |of |indirect |costs?
Labor
Materials
Insurance |during |construction
All |of |the |answers |are |correct |- |ANSWERS✔✔Insurance |during |construction
In |the |Government |Survey |System, |each |quarter |section |contains |_____ |acres.
640
180
320
160 |- |ANSWERS✔✔160
The |contract |cost |for |constructing |a |house |in |June |2005 |was |$242,555. |The |index |for |that |
month |was |205.2 |and |the |current |index |is |288.8. |What |is |the |estimated |cost |to |build |the |house
|today?
, $325,824
$341,374
$349,882
$368,093 |- |ANSWERS✔✔$341,374
Legal |fees |paid |by |a |contractor |would |be |included |in |_________ |costs.
indirect
direct
customary |and |reasonable
entrepreneurial |- |ANSWERS✔✔indirect
A |house |would |rent |for |$900 |per |month |if |it |had |air |conditioning. |Without |air |conditioning, |it
|can |only |rent |for |$870. |The |appropriate |GRM |for |that |type |property |is |120. |What |is |the |value |
loss |due |to |the |lack |of |air |conditioning?
$2,450
$3,600
$300
$8,700 |- |ANSWERS✔✔$3,600
A |parcel |is |valued |at |$200,000. |Zoning |allows |it |to |be |subdivided |into |6 |lots |and |it |is |estimated |
that |each |lot |could |sell |for |$45,000. |Site |development |costs |(sewer, |grading, |road, |etc.) |would |
amount |to |$90,000. |What |is |the |highest |and |best |use?
Develop |it
Leave |it |alone
Unable |to |determine
Subdivide |into |fewer |lots |- |ANSWERS✔✔Leave |it |alone
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