Question 1

The direction and speed of price movements may suggest how strong or weak the
market is.

Accepted Answer

A) True 
 B)False  True

Question 2

The neighborhood is the starting point of the market data search in an appraisal.

Accepted Answer

A) True 
 B)False  True

Question 3

A perfect market occurs only when an active and large role is played by government.

Accepted Answer

A) True 
 B)False  False

Question 4

The sales price chart shown below suggests an average monthly increase of about one percent for the area under study.
$\begin{array}{ll}
\underline{\text { Month }} &\underline{ \text { Average Price }}\
\
\
\text { April } & \$ 170,000 \
\text { May } & \$ 171,700 \
\text { June } & \$ 173,500 \
\text { July } & \$ 174,000 \
\text { August } & \$ 176,000 \
\text { September } & \$ 178,750 \
\text { October } & \$ 180,500
\end{array}$

Accepted Answer

A) True 
 B)False

Question 5

Real estate markets do not meet any of the criteria of a perfect market.

Accepted Answer

A) True 
 B)False

Question 6

A town seldom changes its main function.

Accepted Answer

A) True 
 B)False

Question 7

The boundaries of a neighborhood may be determined by either physical, economic, or legal factors.

Accepted Answer

A) True 
 B)False

Question 8

The neighborhood cycle is noted by development, stability, decline, and renaissance
or renewal.

Accepted Answer

A) True 
 B)False

Question 9

The so-called central town is selected mainly to provide services along a
transportation route.

Accepted Answer

A) True 
 B)False

Question 10

The economic base of a town depends upon its production for local use.

Accepted Answer

A) True 
 B)False

The direction and speed of price movements may suggest how strong or weak the market is.

The neighborhood is the starting point of the market data search in an appraisal.

A perfect market occurs only when an active and large role is played by government.

The sales price chart shown below suggests an average monthly increase of about one percent for the area under study. April \ 170,000 May \ 171,700 June \ 173,500 July \ 174,000 August \ 176,000 September \ 178,750 October \ 180,500

Real estate markets do not meet any of the criteria of a perfect market.

A town seldom changes its main function.

The boundaries of a neighborhood may be determined by either physical, economic, or legal factors.

The neighborhood cycle is noted by development, stability, decline, and renaissance or renewal.

The so-called central town is selected mainly to provide services along a transportation route.

The economic base of a town depends upon its production for local use.

Real Estate Appraisal and You

Legal Considerations in Appraisal

The Formal Appraisal Process

Real Estate Economics and Value

Property Inspection and Analysis: the Site

Property Inspection and Analysis: the Improvements

The Sales Comparison Approach

Analyzing and Adjusting Comparable Sales

Valuing the Site

Introducing the Cost Approach

Estimating Loss in Value: Accrued Depreciation

The Income Approach

Income Capitalization: Rates and Techniques

Reconciling the Value Estimates

Reporting Appraisal Opinions

Appraising Special Ownership and Interests

The Professional Appraiser Answers to Reviewing Your Understanding Glossary Index

Filters

Exam 4: Focus on Neighborhood, Community, and Market

The direction and speed of price movements may suggest how strong or weak the market is.

The neighborhood is the starting point of the market data search in an appraisal.

A perfect market occurs only when an active and large role is played by government.

The sales price chart shown below suggests an average monthly increase of about one percent for the area under study. April \ 170,000 May \ 171,700 June \ 173,500 July \ 174,000 August \ 176,000 September \ 178,750 October \ 180,500

Real estate markets do not meet any of the criteria of a perfect market.

A town seldom changes its main function.

The boundaries of a neighborhood may be determined by either physical, economic, or legal factors.

The neighborhood cycle is noted by development, stability, decline, and renaissance or renewal.

The so-called central town is selected mainly to provide services along a transportation route.

The economic base of a town depends upon its production for local use.

Real Estate Appraisal and You

Legal Considerations in Appraisal

The Formal Appraisal Process

Real Estate Economics and Value

Property Inspection and Analysis: the Site

Property Inspection and Analysis: the Improvements

The Sales Comparison Approach

Analyzing and Adjusting Comparable Sales

Valuing the Site

Introducing the Cost Approach

Estimating Loss in Value: Accrued Depreciation

The Income Approach

Income Capitalization: Rates and Techniques

Reconciling the Value Estimates

Reporting Appraisal Opinions

Appraising Special Ownership and Interests

The Professional Appraiser Answers to Reviewing Your Understanding Glossary Index

Filters