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PA Certified Evaluator questions & actual answers.
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PA Certified Evaluator questions & actual answers.
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PA Certified Evaluator questions &actual answers.
Depreciation ANS -loss in value from cost new from all causes for property having a limited economic
life.
(a) Loss due to wear and tear
(b) Presence of features that are deficient
(c) Excessive, currently undesirable
(d) External factors causing loss in value
Accrued Depreciation ANS -the total depreciation from all causes taken on an asset from the time of
purchase to the present
External Obsolescence ANS -loss in value as a result of impairment in utility and desirability caused by
factors external to the property
USPAP ANS -Uniform Standards of Professional Appraisal Practice
Intangible Property ANS -nonphysical assets, including but not limited to franchises, trademarks,
patents, copyrights. (something we can't see)
Market Value ANS -A type of value, stated as an opinion, that presumes the transfer of a property.
Ethics Rule: ANS -An appraiser must promote and preserve the public trust inherent in appraisal practice
by observing the highest standards of professional ethics.
An appraiser must: ANS -perform assignments with impartiality, objectivity, and independence, and
without accommodation of personal interests.
How many years must an appraiser retain a work file? ANS -a period of at least 5 years after preparation,
or at least 2 years after the final disposition.
, An appraiser must be.... ANS -competent to perform the assignment, acquire the necessary competency
to perform the assignment, or decline or withdraw from the assignment.
Apex on the street ANS -35%
Apex in the rear ANS -65%
An assessor is responsible for ANS -himself, tax payer, and taxing authorities
Base Year ANS -the year in which property values are based.
Predetermined Ratio ANS -A percentage of the base year value, set by the county commissioners to
calculate taxes
Assessed Value: ANS -Total value of base year less predetermined ratio.
Taxable Assessed Value ANS -Total value of base year less predetermined ration
What are the 4 agents of production ANS -Labor, Management Coordination, Capitol, Land
S.L.U.G.E.R. ANS -Right to sell, Right to lease, right to use, right to give away, right to give away, right to
enter and exit, right to refuse to do anything with.
P.E.G.S ANS -Physical, Location, Location, Location
Economic
Governmental/Legal
Social
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