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1

The greatest possible degree of ownership in real property is

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What type of ownership has definite rights of survivorship?

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An appraisal is:

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The boundary of a neighborhood might logically be set at

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Of the four essential elements of value, which of the following must be coupled with purchasing power?

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Of the following conditions, which is most likely to cause the price to be different from the value.

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The bundles of rights includes

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When the title to property reverts to the state because the owner left no will or heirs, it is because of the government's right of

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When should property be reappraised?

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Which of the following are private rather than public limitations to property rights?

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Controls that arise from the government's police power include all except which of the following?

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The Petersons found a home they like very much but decided not to buy it after learning the price. Their reasoning was probably based on principle of:

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A home which cost $150,000 is surrounded by homes priced substantially higher. Which principle would be most applicable to the $150,000 in a current appraisal?

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Which statement is not true?

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An appraisal may be necessary to establish a value for:

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When a very expensive home is built in a neighborhood of small modest homes, the results will most likely be:

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The value of a property tends to be set by the cost of acquiring an equally desirable property. This is a statement of the principle:

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The interaction of supply and demand factors in real estate markets:

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The first step in the appraisal process is to:

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Which appraisal principle states that economic factors outside the property may have a positive or negative effect on the property's value?

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What term is used to explain the appraisal principle that states the value of a property is influenced by its being in harmony with the surrounding properties?

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Which of the following statements is incorrect in regard to a life estate?

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A land use that existed before a certain zoning district was established and is currently not consistent with the restrictions imposed on land uses in that district is referred to as a:

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The process of a local government in exercising its power of eminent domain is known as:

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Which of the following rights of government is based on police power?

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What term is used to describe the value to a typical buyer?

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When appraising property the appraiser must appraise the appraisal unit which is:

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The legal right of government to acquire private property for a public use or purpose with just compensation is known as:

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What term is used for a transaction in which all parties to the transaction are dealing from equal bargaining positions?

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Which statement is true about the relationship between the market value of a property and its sales price at the time of the property sold?

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A study of the supply and demand conditions in a specific area is referred to as:

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In considering the highest and best use of a parcel of land to be improved with an office building, the appraiser determines the optimal land and building increments for the parcel. Which of the following economic principles does this illustrate:

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Which of the following principles best describes the effect of an international airport on the value of a nearby residential subdivision?

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Which of the following best describes what an appraiser does in rendering an opinion of value for tract of land?

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The primary reason an appraiser analyzes a neighborhood is to:

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The process by which the appraiser correlates the indicators of value into a final estimate of the defined value is known as:

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Poor room arrangement is an example of:

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In which case is it best to use cost approach?

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When the improvement is new and represents highest and best use, the upper limit of real property value is usually found by the:

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How many acres are there in the parcel of land described below?

"The SW 1/4 of the SE 1/4 of the NW 1/4, and the SW 1/4 of the NW 1/4 of Section 20"

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Residential lots are often described by reference to their relation to streets and surrounding lots. Which of the following has the least thru-traffic?

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The area of a township is:

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Which of the following would you consider to be external obsolescence?

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The type of depreciation that is considered to be nearly always incurable is:

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Of the following property defects, which is least likely to be curable?

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As contrasted with the term "reproduction cost," "replacement cost" refers to:

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"Effective" age most nearly means:

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When measuring for living or floor area, the appraiser uses:

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Construction classification refers to the:

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The three methods of legal description for real estate are:

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The process of reconciliation involves:

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A particular improvement being appraised is known to have cost $122,000 in 1976, Your construction cost index indicates that today's costs are 58% higher. What is the indicated reproduction cost today?

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A means by which land is specifically and definitely located is known as a:

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Which of the following is true?

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Which approach to value is considered to be the most direct?

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The cost approach is more reliable when appraising

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The typical appraisal assignment is to appraise

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The cost approach is generally unreliable in the appraisal of older buildings because

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In the cost approach, value is estimated by:

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The replacement cost method most commonly used is:

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An item of accrued depreciation is curable if the cost to cure is not greater than the:

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An example of functional obsolescence is:

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A curable item of depreciation is:

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If the site value is indicated to be $80,000 of the total value in a particular neighborhood, how much improvement value would allocated from a $200,000 sale of a single family home?

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A prospective use that represents the "Highest and Best Use" of the land must be:

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The orderly plan of action in the appraisal of real property is known as which of the following?

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As it used in appraising, the term "reconciliation" means

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For which of the following types of property is "price per acre" the term most often used as a unit of comparison for estimating the land value?

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The principle of substitution can be applied to

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In the rectangular survey system a legal description describing, one quarter of a section contains

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A vacant lot measures 200 feet by 381 feet. What is its estimated worth if the land is valued at $20,000 per acre?

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Excess land is land that is:

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The term "plottage" refers to:

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A lot measuring 130 by 200 feet recently sold for $71,500. What was the selling price per square foot?

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A house has a living area of 1,900 square feet. An attached garage has a total area of 420 square feet. The building has an expected life of 50 years and an effective age of five years. The lot is worth $15,000. If it costs $50 to reproduce the living area and $25 to reproduce the garage on a square foot basis, what is the indicated value of property?

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The proximity of a parcel of land to a supporting land use is referred to as:

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Which statement is true?

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Owner A gives owner B an easement across A's land to shorten the distance B has to travel to reach land he owns. The land B owns has benefited by the easement and is known as the:

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A parcel of land 440 feet by 792 feet contains how many acres?

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The description of the surface features of a parcel of land such as elevation or drainage is known as its:

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Which statement is true about the relationship between the market value of a property and its sales price at the time the property sold?

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Which of the following land is generally not considered income property?

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The houses in a neighborhood under study were all built around 20 years ago. Most are owner occupied and well maintained. In all likelihood, the neighborhood is in:

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Appraisers study real estate markets in order to

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Maximum value results where properties in neighborhood are relatively similar. Select the principle which most applies:

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Value is the present worth of future benefits, according to the principle of:

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The grantor is the:

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Which of the following is not an agent of production?

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The principle of increasing and decreasing returns says that maximum value results from adding to agents of production

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The four elements which create value are:

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The limitation on fee simple absolute property rights are:

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If the demand for homes remains constant and the supply:

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An appraisal report can be

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When making an appraisal for property tax purposes the appraiser is to appraise the property at:

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Which economic principle is indicated by the statement, potential buyers of property consider prices paid for similar properties?

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Which of the following is a true statement concerning the accessability of manufactured homes?

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Residential percent good tables provide the most reliable adjustments to replacement cost estimates of which of the following:

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An agreement between the buyer and the seller on the asking price of a property is:

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A commercial lot 50 feet wide and 150 feet deep just sold for $70,000 cash. The sale price per front foot comes to:

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The price paid for a property sold under conditions of duress most likely will represent:

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The presumption that the market value of a property will conform to that sales price of close substitutes is based upon the:

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Two identical properties have recently sold, one for $60,000 and the other $55,000. Both sales appear to meet the conditions of a market value sale. The proper conclusion for you to draw is that:

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Generally the rights to be appraised for property tax purposes are:

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Replacement cost, as used in the field of appraisal, may be defined as the cost, as of the date of:

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Satisfactory application of the appraisal process permits the appraiser to:

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Which of the following procedures would be most valid in the market approach when comparing houses with normal size differences:

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Which of the following categories of depreciation cannot be cured by the property owner:

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The township is:

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In the replacement cost approach, representative costs should reflect:

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Lannie and Carol bought a homesite several years ago. It remained vacant until this year when they built and coccupied a new home. How should the assessor treat the property?

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Property tax laws permit the preparation of current market value appraisals under which of the following circumstances?

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The definition of personal property as defined in the Revenue and Taxation Code:

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The California Constitution provides that:

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The analysis of an apartment neighborhood indicates that income expectations have been adversely affected by closing a large industrial plant. This is an example of depreciation:

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The term "Unit appraisal" refers to:

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The reactions of people in the market toward real estate are different from many other commodities because:

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Land value can be estimated by:

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What would be the documentary transfer tax on all cash sale of $65,000?

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If a documentary transfer tax of $275.00 is paid, what is the indicated price of the sale assuming cash to a new loan?

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One of the basic assumptions of Income Approach is that:

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A house is rented unfurnished for $500 per month. Using the gross rent multiplier method, the appraiser estimated the value of the property to be $80,000. What monthly gross rent multiplier did he use?

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If the appropriate monthly gross rent multiplier is 180 and the monthly rental is $600, what is the indicated value of the subject property?

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The maximum earnings of a property based on economic rent is:

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An apartment has a schedule gross of $140,000 per year. Vacancy and collection loss is 5%. Other expenses will amount to $47,000 per year. Using a gross rent multiplier of 8 will result in an appraisal of:

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How many acres are in the S 1/2 of the SW 1/4 of section 12.

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When a property's highest and best use can reasonably be expected to change in the near future, the prevailing highest and best use is referred to as a(n):

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An office building has a leasable area of 45,000 square feet. It's current reproduction cost is $65 per square foot. The building is on one acre of land. Comparable land cost $17 per square foot. The building has suffered $40,000 depreciation. What is the total value of the property using the cost approach?

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What information is not needed to apply the building residual technique?

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After freeway construction, the volume of business on a street decreased by 50%.This can be considered as:

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The principle of anticipation can be applied to

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Which of the following is exempt from property taxes only when an exemption is filed?

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A warehouse has a market value of $3,000,000. It generates an annual gross income of $500,000. Annual operating expenses are also $350,000. What is the gross income multiplier?

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Land values of parcels which are same size and are side by side:

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It is proper to adjust a sale price as an indicator of value when the:

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Which of the following describes the manner in which the real property transfer tax in California is determined:

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The existing lease on a property:

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In valuing an improvement, the interest which a contractor must pay to borrow construction money:

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While actual sales are preferred in the market approach, listings and offers may help bracket the value. In this respect:

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A house built in 1939, remodeled in 1970, and incorporating all significant features of houses built in 1965 would probably have an effective year of:

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While actual sales are preferred in the market approach, listings and offers may help bracket the value. In this respect:

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The reliability of the cost approach is directly related to

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The basic characteristic of real property is:

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Which of the following is an example of a taxable possessory interest?

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Access the second bedroom of a house may be gained only through the first bedroom. This an example of:

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Which of the following is not a typical purpose of the cost approach?

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Which of these is considered an indirect cost?

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Increasing the floor area of a structure has the usual effect of

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The Replacement Cost New (RCN) of the Miramar Hotel is $3,000,000. You determine that land values in the area are estimated to be $10.00/sq. ft. The subject lot size is 22,550 sq. ft. If the property sold for $2,500,000, what is the indicated accrued depreciation?

This test is made up of practice exams given to us by fellow trainees and peers. Please check answers if you are not sure with these. Please email me at johncmarquez2@yahoo.com (or text!) if you feel any of these answers are wrong. Thanks

SUPERQUIZ DELUXE!!!

SUPERQUIZ DELUXE!!!

The greatest possible degree of ownership in real property is

What type of ownership has definite rights of survivorship?

An appraisal is:

The boundary of a neighborhood might logically be set at

Of the four essential elements of value, which of the following must be coupled with purchasing power?

Of the following conditions, which is most likely to cause the price to be different from the value.

The bundles of rights includes

When the title to property reverts to the state because the owner left no will or heirs, it is because of the government's right of

When should property be reappraised?

Which of the following are private rather than public limitations to property rights?

Controls that arise from the government's police power include all except which of the following?

The Petersons found a home they like very much but decided not to buy it after learning the price. Their reasoning was probably based on principle of:

A home which cost $150,000 is surrounded by homes priced substantially higher. Which principle would be most applicable to the $150,000 in a current appraisal?

Which statement is not true?

An appraisal may be necessary to establish a value for:

When a very expensive home is built in a neighborhood of small modest homes, the results will most likely be:

The value of a property tends to be set by the cost of acquiring an equally desirable property. This is a statement of the principle:

The interaction of supply and demand factors in real estate markets:

The first step in the appraisal process is to: