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47 True/False questions

  1. True or False.....Debt service is an operating expense?FALSE

          

  2. Loss of a fire station in your neighborhood is considered?Economic depreciation

          

  3. What type of properties would be used for the cost method?Churches, schools, post offices, custom homes, new construction

          

  4. Loss of a fire station in area is what type of depreciation?Physical

          

  5. True or False.....Principal and interest payments would be considered an operating expense under the income method?TRUE

          

  6. When a property has a cap rate of 8%, each additional $12 of expenses would affect the value of the property by how much?$150 decrease in value

          

  7. The way a house is placed on a lot?Orientation

          

  8. A first right of refusal is a right to?Match an offer from a 3rd party

          

  9. How do you calculate the value of the improvements under cost method?Quantity survey

          

  10. One bathroom in 5 bedroom home is considered?Income

          

  11. True or False.....Scheduled gross income is before vacancy?TRUE

          

  12. A weighted average is called?Capitalization

          

  13. Outdated depreciation is called?Functional

          

  14. True or False.....Property taxes is an operating expense?FALSE

          

  15. True or False.....Income taxes is an operating expense?TRUE

          

  16. Another name for the cost method?Summation

          

  17. True or False.....Net operating income is always after debt service?FALSE

          

  18. What method is the appraiser using if the appraiser calculates a separate value for the land?Cost

          

  19. First duty of the appraiser?Percolation

          

  20. True or False.....Comps are difficult to find under the market data method?TRUE

          

  21. Deferred maintenance depreciation is called?Economic

          

  22. The difference between the present value of a property and replacement cost is called?Effective age

          

  23. If the cap rate goes up, the value goes?Down

          

  24. Another name for market data?Summation

          

  25. Most time consuming way to replace improvements under the cost method?Quantity survey

          

  26. Incurable depreciation is called?Functional

          

  27. Under cost method, land is value by what method?Market data

          

  28. Market data method is used for type of properties?Existing homes and raw land

          

  29. True or False.....Physical and functional depreciation is curable?FALSE

          

  30. Test for septic systems?Percolation

          

  31. Poor layout of a room would be what type of depreciation?Physical

          

  32. Income method is called?Economic

          

  33. What type of depreciation would be always considered incurable?Churches, schools, post offices, custom homes, new construction

          

  34. True or False.....It is difficult to find comps for the cost method?FALSE

          

  35. An appraisal is accurate for what length of time?The date made

          

  36. Quantity survey is associated with which method?Cost

          

  37. Replacement, reproduction, and depreciation would be which appraisal approach?Cost

          

  38. The number one characteristic of value?Orientation

          

  39. Most common way to replace improvements?Percolation

          

  40. The most costly appraisal report?Narrative

          

  41. Adjustments are made under the market data method for what type of features?Dissimilar

          

  42. Rent to land is considered?Income

          

  43. The appraiser's opinion of the age of a home is called?Effective age

          

  44. True or False.....Adjusted gross income is before vacancy?FALSE

          

  45. A gross rent mutiplier will indicate?Income

          

  46. A roof in bad condition is what type of depreciation?Economic

          

  47. Market data is based on what principle?Existing homes and raw land