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Question 1 of 10
1. Question
To arrive at effective gross income, one of the following is deducted from potential gross income. Which one is it?
Correct
To arrive at effective gross sales, a vacancy and collection loss factor is subtracted from potential gross income. Efficient gross income is subtracted from operating expenses.
In preparing an operating statement for appraisal purposes, debt service is never considered.Incorrect
To arrive at effective gross sales, a vacancy and collection loss factor is subtracted from potential gross income. Efficient gross income is subtracted from operating expenses.
In preparing an operating statement for appraisal purposes, debt service is never considered. -
Question 2 of 10
2. Question
An assessment may have more than one date on it. The date of the calculation of value is the date of?
Correct
All four of these dates should, in principle, be the same, but if they are different, the effective date is the date on which the value calculation of the appraiser is based.
Incorrect
All four of these dates should, in principle, be the same, but if they are different, the effective date is the date on which the value calculation of the appraiser is based.
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Question 3 of 10
3. Question
If you think depreciation happens at an even rate, which approach will you use to measure depreciation?
Correct
Often referred to as the straight-line approach is the economic age life method. More specific approaches for estimating depreciation are the breakdown and demand extraction methods.
Indeed, the index approach is a way of calculating the cost of construction, not depreciation.Incorrect
Often referred to as the straight-line approach is the economic age life method. More specific approaches for estimating depreciation are the breakdown and demand extraction methods.
Indeed, the index approach is a way of calculating the cost of construction, not depreciation. -
Question 4 of 10
4. Question
Which of the following statements about the capitalization rate is true?
Correct
The rate of capitalization is also referred to as the return rate. In income method appraisals, the other three words are used but do not apply to the rate of capitalization.
Incorrect
The rate of capitalization is also referred to as the return rate. In income method appraisals, the other three words are used but do not apply to the rate of capitalization.
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Question 5 of 10
5. Question
A parking lot in a downtown area is more likely to be built with office buildings?
Correct
This question might be tricky because to some degree, all the wrong answers could be correct. However, interim usage is the better option since the parking lot is possibly just a
temporary use to which the land is placed while waiting for its highest and best use, an office building, to be built.Incorrect
This question might be tricky because to some degree, all the wrong answers could be correct. However, interim usage is the better option since the parking lot is possibly just a
temporary use to which the land is placed while waiting for its highest and best use, an office building, to be built. -
Question 6 of 10
6. Question
The gross rent multiplier technique is a valuable revenue strategy in the assessment of?
Correct
For special-purpose buildings, the cost approach is beneficial. For large scales revenue properties such as shopping malls and office buildings, the income capitalization
the strategy will be used. As the income technique for one- and two-family homes, the gross rent multiplier approach is best used.Incorrect
For special-purpose buildings, the cost approach is beneficial. For large scales revenue properties such as shopping malls and office buildings, the income capitalization
the strategy will be used. As the income technique for one- and two-family homes, the gross rent multiplier approach is best used. -
Question 7 of 10
7. Question
After applying all three approaches to value, which of the following should an assessor do?
Correct
By evaluating them and weighting them according to the form of property being measured and the process used, the appraiser reconciles the three values.
Incorrect
By evaluating them and weighting them according to the form of property being measured and the process used, the appraiser reconciles the three values.
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Question 8 of 10
8. Question
An investment property’s future gross income is the same as the investment property’s what?
Correct
Potential gross revenue includes a market rent calculation plus revenue from other sources, such as washing machines and parking.
Incorrect
Potential gross revenue includes a market rent calculation plus revenue from other sources, such as washing machines and parking.
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Question 9 of 10
9. Question
What approach to valuation separately estimates land and building value?
Correct
The cost approach is the only valuation approach that measures land and construction separately for a total value calculation, with a depreciated building value being applied
to the land value.Incorrect
The cost approach is the only valuation approach that measures land and construction separately for a total value calculation, with a depreciated building value being applied
to the land value. -
Question 10 of 10
10. Question
Which of the following statements about ad valorem is true?
Correct
Ad valorem refers to the value calculated on which beneficial property taxes are normally based.
Incorrect
Ad valorem refers to the value calculated on which beneficial property taxes are normally based.