B. The cost approach is most useful for special-purpose or unique properties where there would be few comparables and no rental income.
D. An appraiser never adjusts the subject, so choices A and B can be eliminated. Then remember to ask yourself the question “What do I have to do to the comparable to make it like the subject?†In this case, because the comparable is better, you take away (subtract the value of) the feature.
D. Anticipation is an economic principle. The fourth characteristic of value is scarcity.
D. This question just makes sure you know that the words amperage and wattage relate to the electrical service in a structure.
D. This is definitional.
A. This is definitional.
D. These larger voltages are common in newer homes and in many homes built after 1950.
D. This is definitional.
D. This is definitional. The three incorrect choices are forms of business organization, which could be used for real estate investments.
D. This is definitional and refers to both market risk and risk of default. I made up the term leverage risk.
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