deck_3168770

Question 1

THE COST OF PRODUCING A BUILDING OR STRUCTURE HAVING THE SAME UTILITY BUT USING MODERN MATERIALS, DESIGN AND WORKMANSHIP IS CALLED:INDIRECT COSTREPRODUCTION COSTREPLACEMENT COSTDIRECT COST

Answer 1

REPLACEMENT COST

Question 2

THE UNDERLYING PRINCIPLE IN THE ADJUSTMENT PROCESS IN THE SALES COMPARISON APPROACH IS THE PRINCIPLE OF:SUBSTITUTIONCONTRIBUTIONCOMPLEMENTARY USECHANGE

Answer 2

CONTRIBUTION

Question 3

THE FIRST ADJUSTMENT IN THE SALES COMPARISON APPROACH IS:MARKET CONDITIONSFINANCINGLOCATIONPHYSICAL CHARACTERISTICS

Answer 3

FINANCING

Question 4

WHICH OF THE FOLLOWING INFLUENCES DEMANDAVAILABILITY OF HUMAN SKILLSMATERIALLOCAL SERVICESCAPITAL

Answer 4

LOCAL SERVICES

Question 5

WHICH OF THE FOLLOWING IS NOT A CHARACTERISTIC OF COST?MATERIALSQUALITYDESIGNFLOOR AREA

Answer 5

MATERIALS

Question 6

The principle of ___ states that market value is never constant because environmental, governmental, social and economic forces are at work influencing the property and its environment

Answer 6

change

Question 7

Direct costs for a sf residence containing 1500 sq ft are 80/sq ft. indirect costs, including profit and overhead are 20% of direct costs. Land value is well supported at 50000. improvements are 10 years old and have depreciated .5% per year. What is the cost new of the improvement? indirect value based on cost approach?

Answer 7

144000=120+24

186800=144-(144(10.005))+50000

Question 8

Diminished utility withing the building is an example of ____ obsolescence

Answer 8

functional

Question 9

The most accurate and time consuming cost estimation method is

Answer 9

quantity survey method

Question 10

RCN 368000
actual age 20 yrs
total useful life 80 yrs
RCN:physical curable items 8800
Total depr: physical curable 10000
RCN: physical incurable short lived 60000
total depr: phys incurable short lived 17200
land value 75000
a) amount of deprecitaion for physical incurable long lived items?
b)total amount of physical depreciation for the property
c)indicated value of the property, based on cost approach

Answer 10

a) 74800
b) 102000
c) 341000

Question 11

which of the following is not an indirect cost?
engineering fees
real estate taxes during construction
insurance
supervision

Answer 11

supervision

Question 12

which of the cost estimating is the easiest and fastest to use
unit in place
comparative unit
quantity survey
none of the above

Answer 12

comparative unit

Question 13

outlets in a home are inadequate. RCN for outlets is 3600. depreciation is 50%. Cost to remove and install new is $4200. What is the amount of depreciation attributable and what type of depreciation is it?

Answer 13

3600*.5=1800 3600-1800=1800+4200=6000

functional curable

Question 14

Wear and tear-age, cost more to fix

Answer 14

physical incurable

Question 15

Built wrong- cost effective to fix

Answer 15

functional curable

Question 16

physical location-something you cant change

Answer 16

functional incurable

Question 17

single family residence located on busy street rents for 850/mo. similar residences off busy street rent for 900/mo. GRM is 150. The land to building ratio is 1:4. What is indicated depreciation?

Answer 17

900-850-50
1+4=5 4/5=.8
Rent lossxGRMx% of building
50x150x.8=6000

Question 18

costs that occur on the construction site are considered

Answer 18

direct costs

Question 19

cost components such as floor, roof, or roofing are considered _____ cost, and are expressed as cost per sq ft

Answer 19

horizontal

Question 20

curable phys deterioration is measured by

Answer 20

cost to cure

Question 21

incurable phys deterioration is measured by

Answer 21

age-life method