principle L 11 quiz

principle L 11 quiz - Lesson 11 Cumulative Quiz 1. The...

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Lesson 11 Cumulative Quiz 1. The purpose of most appraisals is: B. estimating the property's market value 2. A sale will not be considered an arm's length transaction unless: D. the buyer and the seller had no previous personal or business relationship 3. Highest and best use refers to the use that would: D. provide the greatest net return 4. Which one of the following is not an element of value? B. Expectation 5. In a residential neighborhood, strictly enforced zoning and private restrictions: C. promote conformity and protect property values Note that more value is typically lost due to functional and external obsolenscene than to physical deterioration 6. In selecting comparables for the sales comparison approach, an appraiser looks for properties that: A. are similar to the subject property and have recently been sold 7. To appraise a single-family home using the sales comparison approach, an appraiser generally needs: A. at least three good comparables 8. The rent that a property would generate if it were currently available for lease on the open market is called the: D. economic rent
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This note was uploaded on 01/29/2012 for the course REAL 1 taught by Professor Haynes during the Fall '11 term at West Valley.

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principle L 11 quiz - Lesson 11 Cumulative Quiz 1. The...

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