Course 6 Practice Test Flashcards
Which statement best reflects the roles of the market analyst and the appraiser?
The market analyst evaluates market trends such as supply and demand and the appraiser determines income (rent) and expenses (operating).
What criteria is used to determine a primary market area?
Contiguous area within which households compete for available housing and geographic area in which units with similar characteristics are in equal competition.
How is an unemployed person defined?
A person who does not have a job, has actively looked for work in the prior four weeks and is currently available for work.
Besides births and deaths, what is the third factor that impacts cohort survival models?
Migration
The secondary market area is more relevant for which property type?
Retail
In terms of the competitive survey, what is the key vacancy rate indicator?
Vacant units in stabilized communities versus total units in stabilized communities.
Which of the following is not a consideration in the economic context of a market study?
Age distribution of the population
Why is net demand analysis limited to 36 months?
It is difficult to project pipeline of proposed projects beyond a 36 month period.
What term defines a spatial relationship between different land uses?
Linkages
Which types of data are obtained and collected directly from first hand experience?
Primary data
