Barney Fletcher Exam 2: 2024
Updated Questions with Verified
100% Correct Answers | Latest
Edition
B. highest and best use - An appraiser recommended tearing down a
$28,000 house. There was a shopping center across the street. Which of the
following appraisal principles BEST describes this si...
B. highest and best use - ✔✔An appraiser recommended tearing down a
$28,000 house. There was a shopping center across the street. Which of the
following appraisal principles BEST describes this situation?
A. deterioration
B. highest and best use
C. capitalization
D. substitution
B. title insurance policy - ✔✔What could guarantee no encroachments and good
title?
A. assumption package
B. title insurance policy
C. survey
D. termite inspection
A. it is imposed by an individual on other people through a contract or deed -
✔✔Which of the following statements is true of a private deed restriction?
A. it is imposed by an individual on other people through a contract or deed
B. it is put on a property by an owner to reduce tax liability
C. it applies only to crops on agricultural property
D. it is imposed by the city restricting the use on the property
, B. aesthetic zoning because of architecture - ✔✔A city council zoned a two
block area so that only Spanish style homes could be built because of the
Spanish heritage in the area. This is usually referred to as which type of zoning?
A. directive zoning
B. aesthetic zoning because of architecture
C. cultural zoning
D. bulk zoning
C. zoning ordinances because sometimes these contain what animals may be
kept - ✔✔A person bought a house and wanted to bring along a pet cougar to
keep in the backyard. Which of the following governmental rights would MOST
likely prohibit this?
A. police power because the police have authority over types of animals for pets
B. urban development regulations as they list allowable animals for the properties
C. zoning ordinances because sometimes these contain what animals may be
kept
D. building codes as they would contain the most restrictions for city dwellings
A. the ad valorem tax on Rand's property is higher than Howe's - ✔✔Howe's
property was assessed at $30,000. Rand's property was assessed at $35,000.
Which is true?
A. the ad valorem tax on Rand's property is higher than Howe's
B. the improvement tax on Rand's property is higher than Howe's
C. the special assessments on Rand's property are higher than Howe's
D. the special assessments on Howe's property are higher than Rand's property
B. $28,000
$4,200 divided by 2 years = yearly interest of $2,100. $2,100 divided by 10% =
$21,000 loan divided by 75% = $28,000 price - ✔✔A 3 year straight note was
obtained at 10% per year. Interest paid the first two years was $4,200. The loan
on the house was 75% of the value. What was the total value of the property?
A. $21,000
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AnswersCOM. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.