Factors that influence the value of a parcel of land would be:
A. It's size
B. It's location
C. The topography
D. All of the above
D.
Which of the following best describes market value?
A. Market price
B. Willing buyer-willing seller concept
C. Cost concept
D. Offered price
B.
The value of real estate is created, maintained, modified and destroyed by the interplay of three great forces. Which of the following is not included in these three?
A. Private restrictions
B. Government regulations
C. Social ideals and standards
D. Econ
A. Private restrictions could be an influence on value, but they are not considered one of the three great forces.
The first step in the appraisal process is to:
Define the appraisal problem.
In order for demand to be effective, it must be accompanied by:
Purchasing power
Amenities are a major value factor for which kinds of properties?
Residential
One of the important considerations in the appraisal of land is establishing its "highest and best use". This can best be defined as:
The use that will produce the greatest net return
The most complete and extensive appraisal report that can be issued would be the:
Narrative
In appraising, the term value most nearly means:
Worth
Which of the following commercial lots located at an intersection would be preferable from the standpoint of shade and comfort of pedestrians:
A. Northwest
B. Northeast
C. Southwest
D. Southeast
Since the Southwest corner is the shadiest during the entire day, this would be the most preferable corner.
An increase in value resulting from improved usability where two or more contiguous lots are joined under a single ownership" would be a definition most appropriately applied to:
Plottage
When the real estate appraiser is concerned with the "present worth of future potential benefits" in the appraisal, he or she is concerned with:
Income
An appraiser who is a member of the American Institute of Real Estate Appraisers may use which of as a professional designation?
MAI. The initials MAI indicate a Member of the Appraisers Institute
Which of the following is not one of the four basic elements that contribute to the production of income?
A. Depreciation
B. Capital
C. Land
D. Coordination
A. Depreciation does not contribute to the production of income but would reduce it. The four elements are Labor, Capital, Land and Coordination.
Which of the following group of terms best defines the essential elements of value of real property?
A. Transferability, utility, scarcity, demand
B. Transferability, cost, utility, scarcity
C. Utility, scarcity, cost demand
D. Utility, cost, demand, tran
A. The original cost of the item cannot be considered as an essential element of its value. Choice 'A' is the only correct answer.
Which of the following has the least effect on today's value of property:
A. Utility
B. Scarcity
C. Value
D. Original cost
Original cost of a property has nothing to do with its value today.
The past expenditures of dollars for the improvements on a residential lot is:
Cost
The principle of progression can best be explained by which of the following statements:
A. A home of lesser value placed among homes of greater value will receive an increase in value.
B. A home of lesser value placed among homes of a greater value will
A.
To a purchaser of a new home, the most important thing is the :
Location
In California, a real estate appraiser:
A. Must be licensed by the Bureau of Real Estate
B. Must be a California resident for at least one year
C. Must base his fee on a percentage of the appraised value
D. None of the preceding
D. Appraisers for "federally related transactions" must be licensed by the California Office of Real Estate Appraisers, not the Bureau of Real Estate