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Fundamentals Of Real Property Appraisal-course 101

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Assessment and Appraisal Theory

Questions and Answers
  • 1. 
    PARCEL OF LAND AND ANY STRUCTURES THAT ARE PERMANENTLY AFFIXED THERETO:
    • A. 

      REAL ESTATE

    • B. 

      CONSISTENT USE

    • C. 

      THE PRINCIPLE OF BALANCE

    • D. 

      HIGHEST AND BEST USE

    • E. 

      ALL OF THE ABOVE

  • 2. 
    FOUR TESTS USED IN THE ANALYSIS OF "HIGHEST AND BEST USE"
    • A. 

      PHYSICALLY POSSIBLE, LEGALLY PERMISSIBLE, FINANCIALLY FEASIBLE AND MOST PRODUCTIVE

    • B. 

      PHYSICAL ABILITY, LEGAL AUTHORITY, FINANCIAL NECESSITY AND HIGH PRODUCTION

    • C. 

      LEGALLY BINDING, FINANCIAL AUTHORITY, PRODUCTIVITY INCREASES AND NECESSARY

    • D. 

      EFFECTIVE TAX RATE, MARKET VALUE, APPRAISAL VALUE AND SITUS

    • E. 

      ALL THE ABOVE

  • 3. 
    _________________  AFFIRMS THAT LAND CANNOT BE VALUED ON THE BASIS OF ONE USE WHILE IMPROVEMENTS ARE VALUED ON THE BASIS OF ANOTHER.
  • 4. 
    __________________ STATES THAT MAXIMUM VALUE OF NEIGHBORHOOD IS ATTAINED WHEN THE USES OF LAND ARE PERFECTLY COMPLIMENTARY.