Valuation of Real Property 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!

Page 1

Question 1 1. Ben wants to buy a house but needs a loan. What market does he need to go to for the loan?

Question 2 2. Who provides loans to mortgage originators?

Question 3 3. What is a tax shelter?

Question 4 4. Which of the following happens if a taxpayer has passive losses but exceeds the allowable limit for that year?

Question 5 5. 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?

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Question 6 6. 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 7 7. Fannie Mae repackages purchased mortgages into what kind of investments?

Question 8 8. Fannie Mae was founded in what time period?

Question 9 9. Which term refers to the individual records of each appraisal assignment according to USPAP?

Question 10 10. Which of the following is true when local law conflicts with USPAP standards?

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Question 11 11. Comparative Market Analysis is used to determine:

Question 12 12. What is absorption rate?

Question 13 13. Which of the following is not a section found in the Uniform Residential Appraisal Report form:

Question 14 14. The Uniform Residential Appraisal Report form is a _____ type of form

Question 15 15. What's the key difference between real property and real estate?

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Question 16 16. The process by which personal property becomes part of real property is known as what?

Question 17 17. Which of the following is not a common approach to appraisal?

Question 18 18. What is the purpose of property appraisal?

Question 19 19. What type of hazards would an inspector look for?

Question 20 20. The Certificate of Reasonable Value is done to determine:

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Question 21 21. What are the steps involved in a project feasibility study?

Question 22 22. Why should the project feasibility study include a project timeline?

Question 23 23. All of the following are physical factors considered in performing a site analysis EXCEPT:

Question 24 24. What's the best source to determine the legally recognizable location and boundaries of a parcel of real estate?

Question 25 25. Two houses are almost identical but one is in an A+ rated school district and the other nearby home is in a mediocre school district. Because of this, the house in the A+ school district is likely to sell for more money. What type of consideration is this indicative of?

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Question 26 26. A copper mine was the town's biggest employer and recently closed. House values have collapsed and houses have become difficult to sell at any price. What type of consideration is this an example of?

Question 27 27. Which of the following is not a requirement to have a sale at fair value?

Question 28 28. What does market value require?

Question 29 29. Which of the following is NOT an originator of mortgages?

Question 30 30. What impact does depreciation have on real estate taxation?

Valuation of Real Property 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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