The gross rent multiplier multiplied by the monthly rent will be equal to
Detailed Answer
A
2
Which of the following appraisal methods would be appropriate for a subject
property when comparable sales data is unavailable?
I. Sales Comparison Approach
II. Income Capitalization Approach
III. Cost-Depreciation Approach
Detailed Answer
D
3
The expense of building a property of equal utility that is similar but not
identical to the subject property is known as its:
Detailed Answer
A
4
After seven years, a motel building in Lake City, Florida, is worth less money
due to wear and tear. This is an example of
Detailed Answer
A
5
Karen owns a large home with a master bedroom that has only a small, single
closet. Karen home is suffering from a condition known as
Detailed Answer
A
6
Robert is preparing to sell his residence. The interior needs repainting at a
cost of $5,000. However, Robert is encouraged because, after the interior is
repainted, it will add $10,000 to the property value. The status of the interior paint
condition is known as:
Detailed Answer
B
7
Effective gross income less operating expenses (including reserves for
replacements) is equal to:
Detailed Answer
D
8
According to the income capitalization method, if the capitalization rate
remains the same but net operating income is increased, how will value be affected?
Detailed Answer
A
9
If a comparable property has a feature that is $5,000 superior to the subject
property, how should this difference be reflected in the reconciliation?
Detailed Answer
B
10
The amount of money actually spent to acquire a property is known as its: