APPRAISAL CHP 8

Question 1

Which does NOT contribute to land’s inherent value?
a. immobility
b. improvements
c. indestructibility
d. scarcity

Answer 1

b. improvements

Question 2

The combining of two or more parcels of land into one larger parcel is known as
a. annexation.
b. assemblage.
c. platted.
d. plottage.

Answer 2

b. assemblage.

Question 3

“S 1/2 of NW 1/4” represents which type of legal description?
a. government survey system
b. lot and block system
c. metes and bounds system
d. plottage system

Answer 3

a. government survey system

Question 4

How many acres are in a section?
a. 406
b. 460
c. 640
d. 6,400

Answer 4

c. 640

Question 5

A detailed survey map of a subdivision is called a(n)
a. county recorded map.
b. plat map.
c. plot map.
d. elevation map.

Answer 5

b. plat map.

Question 6

Which may NOT be found in a metes and bounds legal description?
a. compass directions
b. monuments
c. point of beginning
d. township markers

Answer 6

d. township markers

Question 7

The process of verifying that an improvement properly sits within the boundaries of the property, and that there are no encroachments from neighboring land onto the subject property is called a
a. encroachment survey.
b. location analysis.
c. location survey.
d. survey.

Answer 7

c. location survey.

Question 8

The most important physical factor in determining site value is
a. demographics.
b. improvements.
c. size.
d. taxes.

Answer 8

c. size.

Question 9

The most important governmental factor in determining site value is
a. census data.
b. private deed restrictions.
c. public utility easements.
d. zoning.

Answer 9

d. zoning.

Question 10

The most important economic factor in determining site value is
a. land is more valuable with improvements than vacant.
b. land is valuable no matter where it is.
c. location of the lot with regard to market demand
d. the size of any existing improvements.

Answer 10

c. location of the lot with regard to market demand

Question 11

Which site valuation method uses adjustments to make other properties closer to the subject property
a. allocation method
b. ground rent capitalization method
c. sales comparison method
d. subdivision analysis method

Answer 11

c. sales comparison method

Question 12

Which site valuation method uses a ratio of land value to total property value?
a. allocation method
b. land residual method
c. sales comparison method
d. subdivision analysis method

Answer 12

a. allocation method

Question 13

Which site valuation method takes the total projected sales value of all lots and subtracts development costs to arrive at a land value?
a. allocation method
b. ground rent capitalization method
c. sales comparison method
d. subdivision analysis method

Answer 13

d. subdivision analysis method