Reference no: EM132513438
1. Which of the following terms refers to the stages that a neighborhood goes through over time?
a. Growth cycle
b. Revitalization
d. Redevelopment
Answer Key: C
Question 2 of 50
2.0/ 2.0 Points
The value principle that states that two adjacent parcels of land combined into one larger parcel could have a greater value than the two parcels valued separately is called
a. regression.
b. anticipation.
c. progression.
2. The period in which property values are generally at their highest is
a. growth.
b. decline.
c. equilibrium.
3. The term site refers to
a. a legal description of a plot of land.
b. land that has been improved.
c. raw land with no improvements.
d. land within a certain set of boundaries.
4. The effects of ordinary wear and tear are considered
a. physical deterioration.
b. functional obsolescence.
c. external obsolescence.
d. accelerated depreciation.
5. Functional obsolescence could be caused by which of the following?
a. A worn-out roof
b. A poor location
c. Deferred maintenance
d. A ceiling that is too high
6. A house with four bedrooms and one bathroom is an example of
a. physical deterioration.
b. functional obsolescence.
c. external obsolescence.
d. incurable physical deterioration.
7. An expressway is built near a residential neighborhood resulting in very high traffic noise. This is an example of
a. physical deterioration.
b. functional obsolescence.
c. external obsolescence.
d. None of the above
8. The usual pattern of growth, equilibrium and decline may be amplified by
a. changes in nearby land use.
b. availability of newer property nearby.
c. general economic downturn.
d. All of the above
9. Which of the following factors would not be important in comparing properties under the sales comparison approach to value?
a. Size of lot
b. Number of rooms
c. Interior decor
d. Type of construction
10. Which of the following would not be likely to prevent an arm's-length transaction?
a. Parent sells the family home to one of the children
b. Corporation buys its transferred employee's house
c. Pending foreclosure necessitates a sale
d. Owner planning to move up to more expensive house
11. Which of the following would normally not require a site to be valued separately from the structures on it?
a. Use of the cost approach
b. Use of the sales comparison approach
c. Use of the building residual technique
d. Assessment for ad valorem taxation purposes
12. Residential property in an area rezoned for commercial use is an example of a(n)
a. conditional use.
b. illegal use.
c. nonconforming use.
d. speculative use.
13. Land value of an improved property can be found using the
a. sales comparison method.
b. allocation method.
c. subdivision development method.
d. land development method.
14. When a site's highest and best use is forecast to change in the near future, the present use is considered a(n)
a. restricted use.
b. interim use.
c. speculative holding.
d. temporary use.
15. The value of all improvements (less depreciation) is subtracted from total sales price to find land value in the
a. sales comparison method.
b. allocation method.
c. abstraction method.
d. subdivision development method.