Module 19 Quiz Flashcards
A grain elevator, corn fields, low density, and distant linkage are characteristics of which district type?
A. agricultural district
B. industrial district
C. specialty district
D. single-family district
A. agricultural district
A market area’s focus is on buyer and seller behavior.
True
False
True
Which type of district would include a medical research center, hospital, and physician’s office center?
A. specialty district
B. agricultural district
C. office district
D. central business district
A. specialty district
A declining market area experiences a resurgence in demand due to buyers wanting to move closer to the center of the city. As a result, the current tenants are gradually displaced from the area. What is this
process called?
A. gentrification
B. growth
C. market cycle
D. renaissance
A. Gentrification
Which of the following best clarifies the difference, if any, between the concepts of change and transition?
A. change and transition describe the same thing
B. change is always in the context of short-term; whereas transition is in the context of long-term
C. change takes place either within a short or a long-term time period, whereas transition is usually over an extended duration
D. change has positive effects, whereas transition has negative effects
C. change takes place either within a short or a long-term time period, whereas transition is usually over an extended duration
Note: Transition is generally associated with changes in use, which happen over an extended period of time
Appraiser Mills described the market area as a blue-collar area with good pride of ownership in the area residences. This is an example of
A. conformity.
B. homogeneity.
C. stereotyping.
D. lessor interest
C. stereotyping
Note: Appraiser Mills was making statements on the people in the area and not how they interact to create a market. The focus should be on the market interaction.
Open land transitioning to new residential developments is an example of
A. decline.
B. stability.
C. growth.
D. revitalization.
C. growth.
In the ___________, the neighborhood life cycle stage gains public favor and acceptance.
A. stability phase
B. revitalization phase
C. growth phase
D. prior to the decline phase
C. growth phase
When an appraiser analyzes a residential neighborhood, what are the life cycle stages the appraiser must understand in order to evaluate the neighborhood market?
A. new, stable, old, blighted
B. growth, stability, decline, revitalization
C. growth, static, decline, gentrification
D. progression, stability, instability, regression
B. growth, stability, decline, revitalization
An appraiser is analyzing a residential property located in a blighted neighborhood. The property is part of a legal dispute and the client’s lawyer cautioned the appraiser regarding discriminatory appraisal practices. Which of the following statements best exemplifies the issue of discrimination in an appraisal assignment?
A. It is illegal for an appraiser to discriminate based on race, gender, religion, etc., unless there is marketplace support for the conclusions.
B. An appraiser may be biased but cannot discriminate.
C. It is illegal for an appraiser to discriminate based on race, gender, religion, etc., even if there is marketplace support for the conclusions.
D. It is illegal for an appraiser to employ any type of discrimination in an appraisal
C. It is illegal for an appraiser to discriminate based on race, gender, religion, etc., even if there is marketplace support for the conclusions.
Rent levels in a community are generally identified with which of the four forces that influence value in a market area?
A. social
B. economic
C. governmental and legal
D. environmental and geographic
B. economic
An appraiser may consider race, religion, or gender in an appraisal when
A. none of these answers.
B. supported by subjective data.
C. supported by a university research study.
D. the data is provided by a published source
A. none of these answers.
Write a number on the line opposite each item below to indicate whether the item is best described as:
- One-unit residential districts
- Multifamily districts
- Central business districts
- Retail districts
- Office districts
- Industrial districts
- Agricultural districts
- Specialty districts
- Historic districts
- Growth
- Stability
- Decline
- Revitalization
- Gentrification
- Regional shopping center
- Downtown business area
- A cluster of condominium projects
- A mix of big box stores, fast-food restaurants, and a car dealership
- Vintage, one-unit residential homes
- Grain elevator, corn fields, low density, distant linkage
- Acme Fluid Power, Advanced Metal Etching, Jimson Anodizing
- City organized effort to invigorate a declining retail district
- Duplexes and apartments
- Open land transitioning to new residential developments
- A stage where vacant and abandoned industrial buildings are observed
- Medical research center, hospital, physician’s office center
Write a number on the line opposite each item below to indicate whether the item is best described as:
- One-unit residential districts
- Multifamily districts
- Central business districts
- Retail districts
- Office districts
- Industrial districts
- Agricultural districts
- Specialty districts
- Historic districts
- Growth
- Stability
- Decline
- Revitalization
- Gentrification
4 Regional shopping center
3 Downtown business area
1 A cluster of condominium projects
4 A mix of big box stores, fast-food restaurants, and a car dealership
1 Vintage, one-unit residential homes
7 Grain elevator, corn fields, low density, distant linkage
6 Acme Fluid Power, Advanced Metal Etching, Jimson Anodizing
13 City organized effort to invigorate a declining retail district
2 Duplexes and apartments
10 Open land transitioning to new residential developments
12 A stage where vacant and abandoned industrial buildings are observed
8 Medical research center, hospital, physician’s office center
