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CGA Exact Questions EXAM QUESTIONS AND ANSWERS VERIFIED 100- CORRECT_.pdf
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8/29/24, 9:02 PMCGA Exact Questions
Jeremiah
Terms in this set (38)
The "as vacant" highest and best use is for Consistent Use
retail and the as improved highest and best
use is for single tenant-office What
principle underlies the valuation process?
A property's site is leased for $40,000 per $491,228
year, which is considered the market rate.
The site represents 35% of the total value.
The overall cap rate is 10% and the building
cap rate is 11%. What is the site value?
A property was purchased for $325, 000 and 12.5%
the buyer expected to hold the property for
five years. The pro forma projections call for
a net oper. incoome of $30,000 for Yrs 1 & 2,
$35,000 for Yrs 3& 4 and $37,000 for Yr. 5.
The property is expected to increase in
value to $375k at the end of the holding
period. What is the overall capitalization rate
from the investment?
In preparing a market value appraisal with Yes, the appraiser may use data subsequent to the eff. date as a confirmation of trends.
retrospective date of value, is the appraiser
allowed to consider any info after the eff.
date of value, and why?
Which of the following demand-side Desire and effective purchasing power
economic factors creates value?
*"Always Appears" - If the overall cap rate for 14.17%
the fee simple interest is 10% and the leased
fee cap rate is 8.5%, market net operating
income is $20,000 and contract net
operating income is $12,500. What is the
implied leasehold cap rate?
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?
1/6
, 8/29/24, 9:02 PM
The subject property is a 5,000 sf single $36,000
tenant office building that is currently leased
for $9.00 per sf with three years remaining
on the lease... vacancy credit loss 10% ...
owner expenses 25% of of eff. gross income
... market rent $12 per sf per year. Market
overall rates 9.5%. a sale of a leasehold
interest sold for $29,000 with a net leasehold
inocme of $12000 per year with 3 yrs
remaining. What is the value of the leasehold
estate, rounded to the nearest $1000
A property sold for $330, 000 with 10% 5.85%
down, financed at 7.5% interest for 20 years
with monthly payments. The property has a
gross annual income of $42k. / Vacancy /
collection loss totals 8% and expenses are
$8k per year. What is the equity dividend rate
indicated by this sale?
The market value of a property is $2,300,000 $475,000
at stabilized occupancy. The direct building
cost is $1,500,000. The indirect costs are
$200,000 and the land costs are $125,000.
What is the indicated entrepreneurial profit?
What term refers to a division of a total Submarket
market based on the preferences of buyers
and sellers?
The subject property has 200 acres on $960 per acre
improved pasture, 300 acres of native
pasture, and 500 acres of woodland. Comp
A has 300 acres of improved pasture, 300
acres of native pasture, and 400 acres of
woodland. Comp A sold for $1050 per acre.
Assuming native pasture sells for 80% of
improved pasture prices and woodland sells
for 40% of improved pasture prices, what is
the per acre value of the subject property?
2/6
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