Chapter 12

1) Value in use is one of two concepts or real estate considered by appraisers.

True / False

2) Appraisal assignments usually consist of a prescriptive appraisal process and a descriptive appraisal process.

True / False

3) Sales approach is one of the three valuation techniques taught to real estate appraisers.

True / False

4) Capitalization is the process of converting an income stram into a lump sum estimate of present value.

True / False

5) When buyer and seller operating at arms length both are fully informed and under no undue pressure.

True / False

6) Property management does not include following aspect.

a) Overall physical maintenance of the property

b) Management of the population of leases and tenants.

c) Administration of necessary paperwork, accounts, and records for documentation property operations.

d) All of the above represent aspects of property management.

7) The broker who brings the buyer to the transaction.

a) Selling broker

b) Listing broker

c) Cooperating broker

d) Buyer’s broker

8) A Gantt Chart

a) is a project management technique used to schedule work and measure progress against expectations.

b) represents the cash in- and outflows during the construction period.

c) compares the estimated return with the actual return.

d) None of the above

Answer:

True, True, False, True, True, d), a), a)