13 Ch11 Green Building quiz - Sheet1

Question 1

What term is defined as “Of, or relating to, or being a method of harvesting or using a resource so that the resource is not depleted or permanently damaged”?

Answer 1

sustainable

Question 2

Green building principles can be used in ___________________.

Answer 2

Residential properties, New buildings, Renovation and rehabbing buildings

Question 3

“The practice of creating structures and using processes that are environmentally responsible and resource-efficient” is the definition of:

Answer 3

green building

Question 4

What is the Green Building Finance Consortium?

Answer 4

a group of corporations and trade groups that are addressing the need for independent research and analysis in investment in green buildings

Question 5

Which of these would you be MOST likely to find in a green community?

Answer 5

hiking trails and recreation areas, higher-density built-up areas with large green space areas, development of retail or office uses

Question 6

Green building is often called:

Answer 6

sustainable building

Question 7

According to ENERGY PULSE, 86% of Americans:

Answer 7

would choose one home over another based on energy efficiency

Question 8

What is “green washing”?

Answer 8

when a person falsely claims a structure is green without a third-party certification

Question 9

What is the most common type of value sought by real property appraisers?

Answer 9

market value

Question 10

Which statement is TRUE regarding market value?

Answer 10

There are many different definitions of market value.

Question 11

The value of some green properties could be affected because:

Answer 11

they may be difficult to finance

Question 12

According to USPAP, a property’s “green” features:

Answer 12

would be considered relevant property characteristics

Question 13

Under USPAP, an appraiser is not permitted to be a/an _________ or to perform assignments with ________.

Answer 13

advocate, bias

Question 14

In a properly-developed market value appraisal on a green property:

Answer 14

the prospect of future energy savings is built into the process

Question 15

A non-green home sells for $750,000, while a similar-size green home in the same neighborhood sells for $810,000. What is the indicated bonus value?

Answer 15

8%. $810,000 ÷ $750,000 = 1.08 or 8%.

Question 16

A ________ value can be extracted from another market, another price range (expressed as a percentage), or from old sales.

Answer 16

Bonus

Question 17

If an on-site sewage system is used, the system should be situated:

Answer 17

Below the house to eliminate the need for pumps

Question 18

To take advantage of passive solar heating, a house should be situated on a ________ - facing slope.

Answer 18

South

Question 19

It is not recommended you use the words “certified” or “green” in any appraisal report without ______________.

Answer 19

Having a certification concerning the property

Question 20

Energy Star is a program of

Answer 20

The EPA.

Question 21

A non-green home sells for $650,000, while a similar-size green home in the same neighborhood sells for $760,000. What is the indicated bonus value?

Answer 21

17%. $760,000 ÷ $650,000 = 1.17 or 17%.

Question 22

The Certified Green Professional designation is offered through the

Answer 22

NAHB, National Association of Home Builders

Question 23

With respect to location, one of the most significant trends in commercial green building is:

Answer 23

Re-use of existing building sites

Question 24

In a properly-developed market value appraisal on a green property:

Answer 24

the prospect of future energy savings is built into the process

Question 25

“sustainable” can be used to refer to the _________ in construction.

Answer 25

methods, materials, operating costs

Question 26

In the Cost Approach, if a green building costs 20% more than a conventional building, but the market only will pay a premium of 15% for a green building, the other 5% is attributable to:

Answer 26

functional obsolescence

Question 27

An alternative method of extracting an adjustment is asking people who are knowledgeable in the market (buyers, sellers, agents, brokers, other appraisers) what the contributing value of a feature would be. This method is called

Answer 27

Market survey. An alternative method of extracting an adjustment is asking people who are knowledgeable in the market (buyers, sellers, agents, brokers, other appraisers) what the contributing value of a feature would be.

Question 28

The valuation of green buildings today is analogous to the valuation of buildings with ________________ 50-60 years ago.

Answer 28

air conditioning

Question 29

All of these statements are true about sustainable design

Answer 29

It is applicable to new construction, It is used for remodeling existing homes, It is applicable to residential construction

Question 30

Sustainable design considers the

Answer 30

entire life cycle of the building

Question 31

In the Income Approach, all of these factors increase value

Answer 31

higher building rents, lower maintenance and utility costs, lower vacancy rates