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Real Estate Value 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. A divorce proceeding is pending and part of the process includes getting an appraisal of the previously owned home and its value as of the date of dissolution. This type of appraisal would be a:

Question 2 2. An appraisal that needs to be valued as of the date of death of a decedent would need to have this date of value on it:

Question 3 3. In which circumstance would a cost approach be most useful?

Question 4 4. What is the purpose of property appraisal?

Question 5 5. Why is it important to check zoning laws?

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Question 6 6. When analyzing an improved property that requires an extensive amount of work, what other alternatives would you suggest?

Question 7 7. What is real estate market value?

Question 8 8. What is considered when looking at real estate value in use?

Question 9 9. Which of the following is a source for a currently rented property's rent income?

Question 10 10. Which of the following is an investment financing cost?

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Question 11 11. A residential home is built in the middle of an industrial park. This will cause the value of the property to be much less than if a manufacturing plant was built on the site. Which principle is this an example of?

Question 12 12. Nancy's house is the most dilapidated home in her neighborhood. However, her property has been valued higher than she expected. What principle of valuation is likely at play?

Question 13 13. Keynes feared that economies with high unemployment and low production could _____.

Question 14 14. The classical model assumes the economy is _____.

Question 15 15. Economics may be defined as:

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Question 16 16. In terms of economics, the next BEST alternative is called the:

Question 17 17. What is absorption rate?

Question 18 18. Comparative Market Analysis is used to determine:

Question 19 19. The ability to properly determine the approximate value of a piece of property requires that many factors be considered. These factors are generally of which nature?

Question 20 20. The most reliable factors that can influence the value of a property are:

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Question 21 21. What test would Debbie the developer use to determine whether her proposed 200,000 Sq. Ft. warehouse can be built on her 20 acre parcel?

Question 22 22. What is the ultimate goal of the Financially Feasible Test as part of the four-part Highest and Best Use test?

Question 23 23. Which of these is a written code of conduct that lays out principles and guidelines for appraisers to follow?

Question 24 24. The _____ is to treat others as you would like to be treated.

Question 25 25. A homeowner who is getting a loan through a lender and needs an appraisal on their new construction and their house is not quite finished will need this date on their appraisal:

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Question 26 26. What kind of appraisal are retail purchasers most likely to rely on?

Question 27 27. What is highest and best use?

Question 28 28. What is real estate value?

Question 29 29. Which of the following are sources of income for a rental property?

Question 30 30. Jack wants to sell his three bedroom Tudor house for $250,000, but all other similar homes in the area are selling for $225,000. According to the principle of _____, Jack's home is more likely to be worth $225,000.

Real Estate Value 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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