Module 10+11

Question 1

Hazard of aluminum wiring

Answer 1

Expands and contracts at a high rate - leads to loose connections and a fire hazard

Question 2

Hazard of knob and tube wiring

Answer 2

fire risk bc it is not grounded, cannot carry heavy electrical load

Question 3

Signs of poor insulation

Answer 3

high energy bills, drafts, mould growth in the summer

Question 4

Problems w/ galvanized pipings

Answer 4

rust from the inside out

Question 5

galvanized piping results in

Answer 5

reduced water pressure, flood damag

Question 6

galvanized piping has a

Answer 6

chalky look and feel

Question 7

Phase 1 site assessment

Answer 7

visual inspection + reviewing of documents

Question 8

Phase 2 site assessment

Answer 8

soil testing

Question 9

Phase 3 site assessment

Answer 9

made to clean up the contamination

Question 10

Minstry of env. conservation and parks

Answer 10

administers the env. protection act

Question 11

Minstry of natural resources and forestry

Answer 11

natural and scientific interest on public and private lands (seeks owners co=operation

Question 12

Canadian Residential appraiser

Answer 12

dwellings containing not more than four family house units

Question 13

Accredited Appraiser Canadian Institute

Answer 13

Every type of property

Question 14

CNAREA

Answer 14

regulates RE appraisers in canada

Question 15

3 designations offered by CNREA

Answer 15

Designated Appraiser Residential and commercial & certified appraisal reviewer

Question 16

Form report

Answer 16

short form used for financial institutions, relocation companies and gov. agencies.

Question 17

Used to estimate market values for buildings and agricultural land

Answer 17

narrative report

Question 18

CMA should only mention comparable listings from the

Answer 18

past 12 months

Question 19

Geowarehouse provides information on

Answer 19

ownership details, assessment, sales history, lot size, prop tax

Question 20

Municipality provides info on

Answer 20

lot size, dimensions, floor plans

Question 21

Comparables should be __ months old

Answer 21

12

Question 22

Different kinds of comparable that should be included

Answer 22

for sale now, sold in the past 12 months, and expired in the last 12 months

Question 23

Highest and best use is when not just the present use is considered but also

Answer 23

the potential value associated with alternative uses

Question 24

The cost approach cannot be applied to

Answer 24

condos

Question 25

Cost approach

Answer 25

focuses on the objective value (cost to create)

Question 26

Cost approach is guided by the

Answer 26

principal of substitution

Question 27

Income approach is based on the theory that the value of an investment property

Answer 27

is the present worth of the revenue (future benefits) that it is capable of producing

Question 28

Direct comparison approach

Answer 28

subject property is compared to other recently sold proprieties

Question 29

Adjusted sale price

Answer 29

all adjustments are totalled -/+ a time-adjusted sale price

Question 30

Adjustments arent made for properties that were sold

Answer 30

1 month ago