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Market Data Analysis and Property Appraisals Quiz

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1. What is the primary purpose of market data analysis in property appraisal?

2. The 'sales comparison approach' to property appraisal primarily relies on which type of market data?

3. What does the term 'Highest and Best Use' refer to in the context of property appraisal?

4. In market data analysis, what does the term 'adjusted sales price' refer to?

5. Which factor is NOT typically considered in the sales comparison approach for property appraisal?

6. What is the relevance of 'market trends' in property appraisal?

7. In the context of property appraisal, what does 'functional obsolescence' refer to?

8. Which method of property appraisal involves calculating the present value of expected future income from the property?

9. What role does 'zoning' play in property appraisal?

10. How does the principle of 'substitution' affect property values and appraisals?