Chapter 7.2 Quiz (14% Of The Exam)

25 Questions | Total Attempts: 43

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Chapter 7.2 Quiz (14% Of The Exam) - Quiz

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Questions and Answers
  • 1. 
    When building a home, which of the following workers normally install the conduit? 
    • A. 

      Roofers

    • B. 

      Plumbers

    • C. 

      Electricians

    • D. 

      Carpenters

  • 2. 
    Each of the following is  dangerous gas which may be present in a home, except: 
    • A. 

      Carbon monoxide

    • B. 

      Radon

    • C. 

      Carbon dioxide

    • D. 

      Formaldehyde

  • 3. 
    An elevation sheet for a new subdivision shows which of the following? 
    • A. 

      Topography of the land, including slope, elevation of grading of the site

    • B. 

      Interior views of the homes as they will appear when finished

    • C. 

      Drawings of the front and side views of the homes as they will appear when finished

    • D. 

      Aerial views of the homes as they will appear when finished

  • 4. 
    In home construction, a "footing" refers to: 
    • A. 

      A masonry beam found under the floorboard

    • B. 

      A steel girder to which the floorboards are affixed

    • C. 

      The spreading part at the base of a foundation wall or pier

    • D. 

      A slab of concrete upon which asphalt is usually laid

  • 5. 
    A real estate broker would look at which of the following in order to find the location, size and dimensions of the footings, concrete piers and details of the subfloor area? 
    • A. 

      Floor plan

    • B. 

      Plot plan

    • C. 

      Elevation plan

    • D. 

      Foundation plan

  • 6. 
    Water seeping up from the ground from an indeterminable source would be described as: 
    • A. 

      Riparian water

    • B. 

      Littoral water

    • C. 

      Percolating water

    • D. 

      Appropriation water

  • 7. 
    Water that is suitable for drinking and is not contaminated is said to be: 
    • A. 

      Potable water

    • B. 

      Privy water

    • C. 

      Alluvium water

    • D. 

      Avulsion liquid

  • 8. 
    A commercial development that has a single line of store buildings constructed along a major transportation route is described as: 
    • A. 

      A cluster development site

    • B. 

      A strip commercial development

    • C. 

      A neighborhood shopping center

    • D. 

      A street commercial zone development

  • 9. 
    What state agency would a consumer contact in order to obtain a written report disclosing the presence of wood destroying organisms? 
    • A. 

      Bureau of Real Estate

    • B. 

      Department of Corporations

    • C. 

      Structural Pest Control Board

    • D. 

      Department of Housing and Community Development

  • 10. 
    An appraiser is appraising a home, and notices an abandoned gas station next door. The appraiser should recommend which of the following? 
    • A. 

      A soil report by a civil engineer

    • B. 

      A toxic waste report from the EPA

    • C. 

      A rezoning of the property

    • D. 

      A structural pest control report

  • 11. 
    Which of the following would best describe a turnkey project? 
    • A. 

      A subdivision located in a remote area

    • B. 

      A subdivision whose design has been approved by the local planning commission

    • C. 

      A construction project that is ready for occupancy

    • D. 

      An interior lot located in the middle of a subdivision

  • 12. 
    The ultimate test of functional utility is: 
    • A. 

      Marketability

    • B. 

      Maintenance costs

    • C. 

      Design

    • D. 

      Utility costs

  • 13. 
    When may an appraiser appraise a property owned by a corporation in which he is a shareholder? 
    • A. 

      Never

    • B. 

      Only when the lender is that corporation

    • C. 

      When he discloses his ownership of shares in the appraisal report

    • D. 

      Only when the action is approved by the board of directors

  • 14. 
    Value (worth) is defined by appraisers as: 
    • A. 

      Relationship between the thing desired and the purchaser

    • B. 

      Power of one commodity to attract other commodities in exchange

    • C. 

      Present worth of future benefits arising from ownership of the property

    • D. 

      All of the above

  • 15. 
    When an appraiser determines market value, he would be least concerned with: 
    • A. 

      Prudent value in exchange for a prudent price

    • B. 

      Original cost

    • C. 

      Objective value

    • D. 

      An open market

  • 16. 
    When a developer purchases two or more contiguous lots, thus placing them under common ownership for the purpose of increasing the value per lot, it is known as: 
    • A. 

      Co-ownership

    • B. 

      Cooperative ownership

    • C. 

      Plottage

    • D. 

      Disassemblage

  • 17. 
    When using the market data approach to appraise a single-family residence, the unit of comparison is: 
    • A. 

      The entire property

    • B. 

      Square foot

    • C. 

      Cubic foot

    • D. 

      Capitalization rate

  • 18. 
    When an appraiser compares "reproduction cost" and "replacement cost," "replacement cost" would best be described as: 
    • A. 

      The cost to replace a building with some other building which would then be able to use the land to its highest and best use

    • B. 

      The original cost to build the building

    • C. 

      The present cost to build an exact replica of the building

    • D. 

      The present cost to build a comparable building having the same utility as the building it would replace

  • 19. 
    All of the following would be considered economic obsolescence, except: 
    • A. 

      Community businesses closing

    • B. 

      An old kitchen

    • C. 

      Incompatible zoning laws

    • D. 

      A new sewage treatment plant next to the property

  • 20. 
    An appraiser would use which of the following approaches in appraising a shopping center? 
    • A. 

      Comparison approach

    • B. 

      Capitalization (income) approach

    • C. 

      Replacement cost approach

    • D. 

      Market data approach

  • 21. 
    When a real estate appraiser is using a gross multiplier to determine property value, the appraiser calculates the appropriate gross multiplier by: 
    • A. 

      Dividing the sale price by the net monthly income

    • B. 

      Multiplying the annual gross income by the appropriate capitalization rate

    • C. 

      Diving the sales price by the gross monthly income

    • D. 

      Dividing the sale price of comparable properties by the appropriate capitalization rate

  • 22. 
    Under the Contractors' State License Law, every person who performs the work of a contractor in this state must be licensed by the Contractors' State License Board. Licensing exemptions include: 
    • A. 

      An owner's own work if the owner intends to offer the property for sale within one year of completion

    • B. 

      Minor work not exceeding $500

    • C. 

      Minor work not exceeding $1,000

    • D. 

      Work done by the property owner's relative

  • 23. 
    During the site inspection of a home, an appraiser finds that the inside of an exterior wall of a building is about the same temperature as the other interior walls. What does this tell the appraiser? 
    • A. 

      The heater is doing a great job

    • B. 

      The wall insulation is adequate

    • C. 

      Heat is leaking out through the exterior walls

    • D. 

      The heating duct system is inadequate

  • 24. 
    The lowest part of a frame house that rests on the foundation is called the: 
    • A. 

      Flooring

    • B. 

      Soleplate

    • C. 

      Mudsill

    • D. 

      Header

  • 25. 
    Who must receive a copy of the structural pest control report? 
    • A. 

      Buyer

    • B. 

      Seller

    • C. 

      Agent

    • D. 

      Both buyer and seller

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