True/False
1) Sales comparison approach is sometimes called the market approach.
2) Overall capitalization rate is commonly indicated by OCR.
3) Value in use originates from the worth or utility that a property has for a particular individual who uses it.
4) Capitalization is the process of converting an income stream into a lump sum estimate of present value.
5) There are 6 steps in the prescriptive appraisal process.
Multiple Choice
6) Which approach is taught to real estate appraisers for valuing property:
a) cost approach
b) sales comparison approach
c) income approach
d) all of the above
7) The broker who brings the buyer to the transaction is:
a) selling broker
b) listing broker
c) cooperating broker
d) buyer's broker
8) Which is NOT part of the prescriptive appraisal process:
a) city/regional analysis
b) neighborhood analysis
c) highest and best use analysis
d) all are part of the prescriptive appraisal process
Key
1) T 2) F 3) T 4) T 5) F 6) d 7) a 8) d
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