Exam 9: Real Estate Appraisal

Which of the following are major types of California lenders:

The difference between the current replacement cost new and the estimated value of the building as of the date of the appraisal:

The appraisal principle that states that the value of a property tends to be influenced by the price of acquiring an equally desirable property:

All things being equal, the higher the market gross rent multiplier compared to the subject property gross rent multiplier, the:

Which of the following types of loans are made only to individuals who are intending to occupy the property as a personal residence?

Which of the following is a political force that influences value?

The principle that states that land should be applied to generate its greatest net return:

Land is valued at $80,000. New construction cost for a minimum quality home 35 feet by 45 feet is $100 per square foot. For a garage 25 feet by 25 feet, the cost is $40 per square foot. Depreciation is 10% of new replacement cost. What is the value estimate?

The market (sales comparison) approach to value is most important for determining the value of:

Discount points are typically found in

"Value in use" refers to:

Objective value is also known as:

You are appraising Home X in an affordable area. You find comparables A, B, and C, which have sold recently. Adjustment Figures Difference in condition use $8,000 Difference in lot size use $4,000 Difference in location use $8,000 Home X should have a value of:

All of the following are non-institutional lenders, except:

The type of appraisal report required by most lenders is the:

The cost approach would be given the least weight if appraising a:

Who is not a player in the secondary mortgage market

Which of the following is not an annual operating expense?

Private mortgage insurance (PMI):

For gross income purposes, most lenders want the borrower to have at least a: