Barney Fletcher Practice Exam 1 Practice Questions and Answers
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Barney Fletcher
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Barney Fletcher
Barney Fletcher Practice Exam 1 Practice
Questions and Answers
Which would NOT be used in the capitalization approach?
A. gross income
B. operating expenses
C. reproduction cost
D. allowance for vacancy - ANSWER-C. reproduction cost
A property had a land value of $40,000, a 2,000 square feet...
C. modernizing or maintaining the building could decrease the effective age
D. the effective age is usually greater than the chronological age - ANSWER✔✔-D. the effective age is
usually greater than the chronological age
Which is NOT true about a mechanic's lien?
A. it can be filed for the value of the cost of the improvement
B. it must be filed within a specified time period
C. it would have to be enforced by the court
D. its priority rights are determined by the date of recording - ANSWER✔✔-D. its priority rights are
determined by the date of recording
A property was assessed at 25% of market value. The rate was $5 per $1,000. If the homeowner actually
paid $150, what was the total value of the property?
A. $30,000
B. $82,500
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