True or False
Depreciation is when a decrease in value suffered by a
property because of a diminished ability to serve the needs of its users and
potential users typically due to age or functional disutility.
T
True or False
Income approach is one of the three valuation techniques
taught to real estate appraisers requiring an estimate of the market value of
the land combined with an estimate of the reproduction cost new of all
improvements adjusted by estimated depreciation.
F: Cost
Approach fits the description above.
Multiple Choice
The process of
converting an income stream into a lump sum estimate of present value.
(A)
Dual Agency
(B)
Descriptive Appraisal Process
(C)
Most Probable Sales Price
(D)
Capitalization
D
Multiple Choice
Who is part of the
developer’s team?
(A)
Architects
(B)
Engineers
(C)
Contractors
(D)
All of the Above
(E)
Non of the above
D
True or False
A descriptive
appraisal process is the process that an appraiser actually follows when
valuing real property.
T
True or False
Value Estimate via
Income Approach = Estimated Gross Monthly Rent x GRM
T
Multiple Choice
An analogous term
for the prescriptive appraisal process, that systematic process that appraisers
are taught to follow when valuing real estate is a ________________.
(A)
Normative Process
(B)
Investment Value
(C)
Market Value
(D)
Non of the Above
A
True or False
Heuristics is the
subconscious mental shortcuts employed by human problem solvers needing to
minimize cognitive efforts.
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