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ASREB Exam prep A-1 (gray packet) Questions and Answers
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ASREB Exam prep A-1 (gray packet)
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ASREB Exam prep B-5 (gold packet)A rate of return: - answer Cap rate
Buying An apartment building. It would be apprised using: - answer Income approach
When a house is built with cheap material and shows signs of deterioration this is
called: - answer Physical depreciation
This is considered functional obsolescence: - answer Five bedroom house with one
bathroom
The market data approach in appraisal would refer to as: - answer Substitution
When buying a rental property it would be appraised using: - answer Income approach
A use of a property that produces the greatest net return: - answer Highest and best use
This appraisal approach would be used in appraising an older home: - answer Market
approach
An old home in an area of new home development would be appraised using: -
answerCost approach
Economic life of a building would be: - answerPeriod of time it remains profitable to
operate
When a property increases in value but the owner did nothing to cause the increase this
would be called: - answerUnearned increment
The cost approach takes into account: - answerDepreciation
What is meant my marginal land: - answerLand that does not always cover the cost if
operation
The value one is to pay today for future rental income is called: - answerCapitalization
value
A real estate licensee cannot prepare an: - answerAppraisal
When people will pay more for a property but there is no objective reason to do so, this
is most likely do to: - answerAmenities
, A reproduction cost approach would be used in: - answerA historical house
An example of functional depreciation is : - answerOutdated interior
What does an appraiser look for first? - answerHighest and best use of land
What does the gross rent multiplier find? - answerA multiple of gross rents to determine
price
This is reflective of value given in exchange for a property: - answerMarket price
For the best appraisal of residential property, the appraiser should use: - answerA
similar neighborhood
When you re-build today, you would most likely use this principle: - answerReplacement
Best appraisal approach on a 50 year old school: - answerCost approach
In the market approach the appraiser considers: - answerAmenities, past sales, and
current listings
(Not original cost)
Vacancies and loss of credit would NOT be an: - answerOperating expense
Capitalization rates usually consider: - answerNet income
Incurable depreciation would apply to: - answerEconomic depreciation
In the income approach of appraising the most important figure is: - answerNet income
The difference between replacement cost and present value is: - answerDepreciation
After gathering all appraisal data the appraiser would: - answerReconcile and correlate
The loss of nearby fire service in a rural area would be considered: - answerEconomic
depreciation
When calculating net operating income you take into account: - answerProperty tax,
loss of credit and utilities
(Not cap rate)
Property depreciation would NOT apply to: - answerIncome approach
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