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Chapter 11 Quiz Sample Solutions

Chapter 11 Quiz Sample Solutions - 1 Answer Key 1 2 3 4 5 6...

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Answer Key 1. B 2. B 3. D 4. D 5. B 6. C 7. C 8. D 9. A 10. A 11. D 12. D 13. C 14. C 15. C 2
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Answer Key with Explanations Question #1 Answer: B Explanation: Effective gross income is calculated by subtracting vacancies and collection losses from the gross rental income. Question #2 Answer: B Explanation: Functional and economic obsolescence cause much greater losses in property value than any type of physical deterioration. Question #3 Answer: D Explanation: Substitution applies to all three appraisal methods. Question #4 Answer: D Explanation: The income approach should be used, since the restaurant is a commercial property. Question #5 Answer: B Explanation: Indirect methods of estimating depreciation are considered more accurate because they involve taking information from the market. Question #6 Answer: C Explanation: The purpose of an appraisal is usually to determine the value of a property. The "function" or "use" of an appraisal is the reason for having the property appraised. So the purpose
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Chapter 11 Quiz Sample Solutions - 1 Answer Key 1 2 3 4 5 6...

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