Land & Site Valuation Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Real estate valuation can be used by many entities, such as _____.

Question 2 2. The word extraction refers to what aspect of the extraction method?

Question 3 3. 'Land' as used as a term in real estate appraisal, means _____.

Question 4 4. The extraction method is used _____.

Question 5 5. The steps for completing an extracted valuation include _____.

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Question 6 6. What does it mean when an assessor predicts highest and best use?

Question 7 7. If the market predicts that an entire parcel can be sold as lots for a total of $2,000,000 and total development costs are estimated to be about 72% of that sale price, then what is the valuation of the property using the subdivision method?

Question 8 8. Which of the following is not a risk factor in the subdivision sale of land?

Question 9 9. When is the subdivision method an ideal method to utilize?

Question 10 10. If the market predicts that an entire parcel can be sold as lots for a total of $3,000,000 and the total development costs are estimated to be about 78% of that sale price, then what is the valuation of the property using the subdivision method?

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Question 11 11. When is the residual method used in real estate?

Question 12 12. Which of the following is not a disadvantage to the residual method?

Question 13 13. If land is bought for forty thousand dollars ($40,000), and development, maintenance, and resale total one hundred thousand dollars ($100,000), and it is sold for two hundred twenty thousand dollars ($220,000), then what is the residual value of the land?

Question 14 14. If land is bought for fifty six thousand dollars ($56,000), and development, maintenance, and resale total one hundred eighty five thousand dollars ($185,000), and it is sold for three hundred fifty thousand dollars ($350,000), then what is the residual value of the land?

Question 15 15. If land is bought for fifteen thousand dollars ($15,000), and development, maintenance, and resale total seventy five thousand ($75,000), and it is sold for one hundred fifteen thousand ($115,000), then what is the residual value of the land?

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Question 16 16. When is it ideal to use the allocation method for land/site valuation?

Question 17 17. What is the site/land value of a property that was sold for $125,000 and has comparable lot values worth about 22% of those properties' total values?

Question 18 18. Which of the following is not an improvement that is ideal to consider when using the allocation method?

Question 19 19. What is the site/land value of a property that was sold for $375,000 and has comparable lot values worth about 24% of those properties' total values?

Question 20 20. What is the site/land value of a property that was sold for $200,000 and has comparable lot values worth about 25% of those properties' total values?

Land & Site Valuation Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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