Question 1

A condominium type of unit is more popular than a cooperative apartment unit because

Accepted Answer

A)  It generally provides more living space 
B)  They are located in more desirable living areas 
C)  Ownership rights in a condo permit resale without approval of others 
D)  A greater number are available 
A)  It generally provides more living space 
B)  They are located in more desirable living areas 
C)  Ownership rights in a condo permit resale without approval of others 
D)  A greater number are available C

Question 2

The principle of appraising that considers the amount of value that may be added by an improvement is

Accepted Answer

A)  Substitution 
B)  Anticipation 
C)  Conformity 
D)  Contribution 
A)  Substitution 
B)  Anticipation 
C)  Conformity 
D)  Contribution D

Question 3

The normal method to reach a final estimate of value in a narrative appraisal is

Accepted Answer

A)  an adjusted average of the approaches to value as determined by the judgment of the appraiser. 
B)  whatever value is shown by the major approach. 
C)  a mathematically determined average of all approaches. 
D)  only the capitalized value as determined by the current market rate of return. 
A)  an adjusted average of the approaches to value as determined by the judgment of the appraiser. 
B)  whatever value is shown by the major approach. 
C)  a mathematically determined average of all approaches. 
D)  only the capitalized value as determined by the current market rate of return. A

Question 4

Which FHA software technology allows a approved FHA seller/servicer to find a FHA approved appraiser?

Accepted Answer

A)  Desktop Underwriter 
B)  FHA Connection 
C)  Loan Prospector 
D)  Uniform Appraisal Dataset 
A)  Desktop Underwriter 
B)  FHA Connection 
C)  Loan Prospector 
D)  Uniform Appraisal Dataset

Question 5

What is that the maximum time that an approved FHA Appraisers appraisal report is valid on construction loans

Accepted Answer

A)  90 Days 
B)  120 Days 
C)  180 Days 
D)  1 year 
A)  90 Days 
B)  120 Days 
C)  180 Days 
D)  1 year

Question 6

Which of the following types of legal description is most commonly found in urban areas?

Accepted Answer

A)  Geodetic or government survey 
B)  Metes and Bounds 
C)  General Survey 
D)  Lot and Block 
A)  Geodetic or government survey 
B)  Metes and Bounds 
C)  General Survey 
D)  Lot and Block

Question 7

The sales comparison approach to value is most widely used for which of the following types of properties?

Accepted Answer

A)  Residential property 
B)  Income producing property 
C)  Buildings serving specialized purposes 
D)  For transactions involving government agencies 
A)  Residential property 
B)  Income producing property 
C)  Buildings serving specialized purposes 
D)  For transactions involving government agencies

Question 8

If the appropriate present worth factor is .90909 and it is applied to an income stream of $35,000, the discounted value would be

Accepted Answer

A)  $18,333 
B)  $31,818 
C)  $38,500 
D)  $66,818 
A)  $18,333 
B)  $31,818 
C)  $38,500 
D)  $66,818

Question 9

The capitalization value of a $30,000 income stream to an investor seeking a 12.5 percent return is:

Accepted Answer

A)  $120,000 
B)  $200,000 
C)  $240,000 
D)  $480,000 
A)  $120,000 
B)  $200,000 
C)  $240,000 
D)  $480,000

Question 10

Which of the following statements regarding certification of appraisers is correct?

Accepted Answer

A)  It is illegal to undertake an appraisal unless that person is properly certified 
B)  Appraisers may be certified by each state as long as federal guidelines are adhered to 
C)  Certified appraisers must be used for every loan whether or not the lender is federally related 
D)  All appraisers with peer designations have been grandfathered into state certified status. 
A)  It is illegal to undertake an appraisal unless that person is properly certified 
B)  Appraisers may be certified by each state as long as federal guidelines are adhered to 
C)  Certified appraisers must be used for every loan whether or not the lender is federally related 
D)  All appraisers with peer designations have been grandfathered into state certified status.

Question 11

The kind of depreciation most closely associated with inadequate building design is

Accepted Answer

A)  Design inadequacy 
B)  Physical deterioration 
C)  Functional obsolescence 
D)  External obsolescence 
A)  Design inadequacy 
B)  Physical deterioration 
C)  Functional obsolescence 
D)  External obsolescence

Question 12

The underlying theories that support evaluation of a property are called:

Accepted Answer

A)  Approaches to value 
B)  Qualification for designations 
C)  Principles of appraisal 
D)  Whatever local practices prevail 
A)  Approaches to value 
B)  Qualification for designations 
C)  Principles of appraisal 
D)  Whatever local practices prevail

A condominium type of unit is more popular than a cooperative apartment unit because

The principle of appraising that considers the amount of value that may be added by an improvement is

The normal method to reach a final estimate of value in a narrative appraisal is

Which FHA software technology allows a approved FHA seller/servicer to find a FHA approved appraiser?

What is that the maximum time that an approved FHA Appraisers appraisal report is valid on construction loans

Which of the following types of legal description is most commonly found in urban areas?

The sales comparison approach to value is most widely used for which of the following types of properties?

If the appropriate present worth factor is .90909 and it is applied to an income stream of $35,000, the discounted value would be

The capitalization value of a $30,000 income stream to an investor seeking a 12.5 percent return is:

Which of the following statements regarding certification of appraisers is correct?

The kind of depreciation most closely associated with inadequate building design is

The underlying theories that support evaluation of a property are called:

History and Background

Money and Interest Rates

Mortgage Money: Regulated Lenders

Other Primary Market Lenders

Mortgage Money: the Secondary Market

The Mortgage Documents

Mortgage Repayment Plans

Federal Government Underwriting Programs

Borrower Qualiﬁcation

Commercial Loans: Construction and Land Loans

Commercial Building and Farm Loans

Other Financing Practices

Technology Advances in Mortgage Lending

Environmental Issues

Settlement Procedures

Filters

Exam 10: Property Analysis

A condominium type of unit is more popular than a cooperative apartment unit because

The principle of appraising that considers the amount of value that may be added by an improvement is

The normal method to reach a final estimate of value in a narrative appraisal is

Which FHA software technology allows a approved FHA seller/servicer to find a FHA approved appraiser?

What is that the maximum time that an approved FHA Appraisers appraisal report is valid on construction loans

Which of the following types of legal description is most commonly found in urban areas?

The sales comparison approach to value is most widely used for which of the following types of properties?

If the appropriate present worth factor is .90909 and it is applied to an income stream of $35,000, the discounted value would be

The capitalization value of a $30,000 income stream to an investor seeking a 12.5 percent return is:

Which of the following statements regarding certification of appraisers is correct?

The kind of depreciation most closely associated with inadequate building design is

The underlying theories that support evaluation of a property are called:

History and Background

Money and Interest Rates

Mortgage Money: Regulated Lenders

Other Primary Market Lenders

Mortgage Money: the Secondary Market

The Mortgage Documents

Mortgage Repayment Plans

Federal Government Underwriting Programs

Borrower Qualiﬁcation

Commercial Loans: Construction and Land Loans

Commercial Building and Farm Loans

Other Financing Practices

Technology Advances in Mortgage Lending

Environmental Issues

Settlement Procedures

Filters