REE 4143 Exam Questions With Correct
Answers
Which of the following about appraisal is incorrect?
is the act of process of developing an opinion of value
provides an unbiased estimate of the value of an identified interest in real property, related
personal property, or intangible assets
foll...
EXAM STUDY MATERIALS July 30, 2024 11:26 AM REE 4143 Exam Questions With Correct Answers Which of the following about appraisal is incorrect? is the act of process of developing an opinion of value provides an unbiased estimate of the value of an identified interest in real property, related personal property, or intangible assets follows the uniform standards of professional appraisal practice (USPAP) requires an appraiser to use all of the three approaches. - answer✔✔requires an appraiser to use all of the three approaches. ___ assumes the business operation will continue. business enterprise value market value going -concern value - answer✔✔going -concern value ___ can be valued as the PV of th e difference between the market rent and the rent specified by the lease. Fee simple estate Leased fee estate Leasehold estate - answer✔✔Leasehold estate Which of the following is most likely to be analyzed in a feasibility study? Accrued depreciatio n Economic success Income tax shelter EXAM STUDY MATERIALS July 30, 2024 11:26 AM Liquidation value - answer✔✔Economic success Hospitals can be classified as which type of nonresidential income property? commercial industrial hotel and motel special purpose - answer✔✔special purpose Which on e of the following is the most complete ownership unencumbered by any other interest or estate? Fee simple estate Leased fee estate Leasehold estate - answer✔✔Fee simple estate The term "real estate" refers to what? The physical land and improvements affixed to it. Machinery and equipment. Land, buildings, and fixtures. All rights, interests, and benefits inherent in the ownership of physical land and the structures affixed to it. - answer✔✔The physical land and im provements affixed to it. The three methods used to estimate value in an appraisal report include: cost, sales comparison and income capitalization approaches. income capitalization, sales comparison and market approaches. cost, income and direct capit alization. sales comparison, income capitalization and accrued depreciation. - answer✔✔cost, sales comparison and income capitalization approaches. Which of the following statements is true in regard to real estate markets? EXAM STUDY MATERIALS July 30, 2024 11:26 AM Price always equals value. Supply and demand are seldom in balance. Supply adjusts more quickly than demand. Government regulations rarely affect value. - answer✔✔Supply and demand are seldom in balance. Motor home is real property personal property real estate - answer✔✔perso nal property In ____, the tenants holds a leasehold interest in the land and owns the improvements until the land lease expires. - answer✔✔land lease ___ assumes the use of vacant land or an improved property is legally permissible, physically possible, fi nancially feasible, and maximally productive. Marketability study Market study HBU analysis Feasibility study - answer✔✔HBU analysis In determining whether or not an item is classified as "real property" or "personal property," which of the following tests are NORMALLY considered? Manner of attachment, intention of the party who made the attachment, purpose for which the item is used. Manner of attachment, size of the item, cost of the item. The number of items in question, current market value, purpose for which the item(s) is used. Who owns the item, manner of attachment, size of item. - answer✔✔Manner of attachment, intention of the party who made the attachment, purpose for which the item is used. EXAM STUDY MATERIALS July 30, 2024 11:26 AM The interest or value that the owner has in real estate above the liens against it is referred to as capital. debt. principal. equity. - answer✔✔equity. Shopping centers can be cla ssified as which type of nonresidential income property? commercial industrial hotel and motel special purpose - answer✔✔commercial The term "fee simple estate" refers to which of the following? - answer✔✔An estate that is not subject to any leases. Which of the following is incorrect about the real estate market? Supply and demand seldom in balance Value may differ considerably from cost Few buyers and sellers at one time All of the above are correct - answer✔✔All of the above are correct ____ reflects the relationship between the acquisition price and anticipated future benefits. It is often used as a general term to any studies on expected future cash flows. Feasibility study Investment analysis HBU analysis Cost-benefit study - answ er✔✔Investment analysis Bundle of rights refers to legal rights associated with owning the property.
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