Chapter 16 - Product Knowledge Flashcards
What is a corner lot?
Bounded with streets on two sides
What is an interior lot?
Bounded on each side by another lot
What is a T-intersection lot?
Interior lots that suffer from their location at the end of a T intersection
What is a cul-de-sac lot?
Occurs when a street is open at one end only and it has a circular turn-around at the other end
What is a flag lot?
Lots with a long access road or driveway back to the main part of the lot
What are key lots?
Lots that are generally long skinny lots similar to the shaft of a key that are often bounded by as many as five or six lots
What is a pier?
Column of masonry; four or more piers are used to support a structure
They lift the structure above ground level to allow a crawl space below the surface
What is slab-on-grade?
Involves pouring a concrete slab directly on the ground; the slab is reinforced with steel mesh, and the ground is covered with a plastic, waterproof vapor barrier
What is a platform?
Each floor is built separately, with the first floor providing a work platform for the structure above
What is balloon construction?
The studs extend continuously to the ceiling of the second floor, providing a smooth unbroken wall surface at each floor level
What is post-and-beam?
Sturdy posts support beams that are spaced up to eight feet apart and covered with 2-inch planks that serve to form the floor, ceiling, and roof deck
What is the pitch of the roof?
Its slope
What are the roof styles?
Gable Hip Saltbox Shed Flat Gambrel Mansard
What are gable roofs?
Use a single truss design
Peak at center ridge and extend downward on two opposite sides
What are hip roofs?
Peak at the center ridge but extend downward on four opposite sides
What are saltbox roofs?
Characterized by what appears to be a gable roof that then slopes steeply on one side
What are shed roofs?
Consist of a single steep plane
What are flat roofs?
Commonly referred to as built-up roofs because of the way they are constructed in layers of tar and gravel
What are gambrel roofs?
Characterized by the American barn style of roof
What are mansard roofs?
The shingles come down the walls of the top floor
Years ago, voltage entering houses was rated at ______ and _____ volts.
110 and 220 volts
What has the voltage entering houses been increased to?
120 and 240 volts
What is the purpose of a cold water main?
Carries water to the water heater and to all cold-water-using fixtures
Mechanical components include:
Air cooling and heating systems
What is the most common type of heat distribution system?
A ducted system (distributes warm air through ducts to each room of the house)
What are air-conditioning systems rated in?
BTUs or tons
_______ BTUs are equivalent to a one-ton capacity.
12,000 BTUs
The efficiency of electric air-conditioning systems is measured by a:
Seasonal Energy Efficiency Ratio (SEER)
What is the national minimum standards for central air conditioners?
SEER of 13
The higher the SEER rating:
The more energy efficient the equipment
What are the styles of windows?
Fixed Awning Casement Jalousie Sliding Hopper Center pivot Double or single-hung
What are fixed windows?
Also called picture windows; they do not open; have sealed edges
What are awning windows?
Typically fixed at the top and tilt out with the aid of a crank to provide ventilation but have a limited open space
What are casement windows?
Consist of one or more sashes hinged at the side like a door, swinging horizontally out or in, usually with the aid of a crank
What are jalousie windows?
Glass louvers that overlap one another from the panes; operated with a crank or turn-screw, the glass louvers tilt to open, permitting airflow
What are sliding windows?
Horizontal sliding windows move back and forth on tracks; usually only one of the sashes moves and the other is fixed
What are hopper windows?
Hinged at the bottom and opens into the room
What are center pivot windows?
Window pivots from a point at the center of the frame
What are double-hung windows?
Open by sliding the bottom half of the window up or sliding the top half down
What are single-hung windows?
Similar to double-hung, but only the lower sash is movable
A type of foundation that is used in low-lying coastal areas is called:
Pier foundation
A type of frame construction that allows for large spans between supporting side walls is:
Post-and-beam construction
If you were to build a commercial structure and because of limited ground space wanted to install the mechanical equipment on the roof, which roof design would be most appropriate?
Flat
In areas near water in kitchens and bathrooms, building codes require special electrical outlets referred to as:
Ground-fault-interrupters
You want to replace a ceiling fan and have removed the old fixture. The wiring to the old fixture consists of three wires: a black wire, a white wire, and a green wire. Which wire is the ground wire?
Green
The pipe that carries water to the hot water heater is referred to as a:
Cold water main
The purpose of a U-shaped trap under a kitchen sink is to:
Prevent combustible gases from entering the home
An electrical cable stamped with the words “6/2 with ground” is most appropriate for wiring to a:
Window air conditioner
You are interested in adding roof installation to your home to reduce your monthly electrical bill. Which government agency establishes minimum recommended R-values specific to your local area?
Department of Energy
You are walking through a seller’s contemporary-design home. There are windows set high into a loft area, that are not designed to be opened. They function simply to bring light into the loft. What window type does this describe?
Fixed
Which type of lot provides an open view down the street but may also suffer from vehicular headlights shining into the windows?
T-intersection
Which type of lot is bounded by five or six other lots?
Key
What is the income approach?
"Pick Violets Every Other Night" P - V = E E - O = N Potential Gross Income Vacancy and Collection Losses Effective Gross Income Operating Expenses Net Operating Income
The first step in an appraisal is:
Define the problem
What are the assumptions of market value?
The seller can provide a marketable title
Both buyer and seller are well informed and not related to each other
Neither buyer or seller aer under duress, menace or undue influence
Market value refers to a specific date
The property is on the open market and exposed for a reasonable time
The terms are cash or its equivalent
The decision to convert a two-family residential home into a commercial office, housing a real estate firm, and an insurance company is an example of what appraisal principle?
Highest and best use
What best describes the principle that a home maintains its highest value by being in a neighborhood with similar-type housing?
Conformity
What principle is the market data approach based on?
Substitution
External obsolescence in a property is generally:
A type of depreciation that is incurable
When an appraiser uses the phrase “effective age”, he is referring to:
The age of the property based on its condition
A man owns a building with six apartments. Three of the 6 apartments net him $200 per month, and the other three net him $150 per month. For what amount should he sell the building to net the same profit if he invests his money in a 9% savings account?
$140,000 3 x 200 = 600 x 12 = 7,200 3 x 150 = 450 x 12 = 5,400 7,200 + 5,400 = 12,600 12,600 / .09 = 140,000
The gross rent multiplier uses:
Sale price and monthly rental rates
Peeling paint on a home is an example of:
Physical deterioration
The three distinct boards of TAF are:
Appraisal Qualification Board
Appraisal Standards Board
Appraisal Practices Board
