Appraisal

Question 1

Which of the following is an appraisal?

Answer 1

An estimate of value

Question 2

Which of the following represents external obsolescence?

Answer 2

Loss of value due to changes is the neighborhood.

Question 3

When appeasing a commercial property, the appraiser is most concerned with:

Answer 3

Net annual income

Question 4

The sales comparison approach is most important in estimating the value of a/an:

Answer 4

Existing residence

Question 5

The income approach is most important in estimating the value of a/an:

Answer 5

Office building

Question 6

The first step in the appraisal process should be to:

Answer 6

Determine the objective or problem.

Question 7

Capitalization is a process to:

Answer 7

Convert income into present value.

Question 8

Loss of value due to the property being unsuitably located is known as:

Answer 8

External obsolescence

Question 9

In Appraising older structures, consideration must be given to:

Answer 9

Depreciation

Question 10

When the capitalization rate increases, the value of the property:

Answer 10

Decreases