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Property Valuation and Appraisal

California Real Estate Salesperson Exam Property Valuation and Appraisal
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  1. Question 1 of 25
    1. Question

    What is the objective of most appraisals?

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  2. Question 2 of 25
    2. Question

    Market value is different from market price in that market price ___.

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  3. Question 3 of 25
    3. Question

    The sales comparison approach to valuation is directly related to ____.

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  4. Question 4 of 25
    4. Question

    Jane is depositing $400 dollars in a savings account in hopes of earning interest. If the annual rate of interest is 6%, and she keeps the money in her account for 5 years, what would her balance be at the end of the 5 year period?

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  5. Question 5 of 25
    5. Question

    Interest paid on the accrued interest as well as the principal is called ____.

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  6. Question 6 of 25
    6. Question

    Of these individuals, who can perform an appraisal?

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  7. Question 7 of 25
    7. Question

    How is land different than other property assets?

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  8. Question 8 of 25
    8. Question

    You may need to know the value of the house you inherited ____.

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  9. Question 9 of 25
    9. Question

    An appraisal is ____.

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  10. Question 10 of 25
    10. Question

    When estimating the value for a particular piece of property, an appraiser will not investigate ____.

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  11. Question 11 of 25
    11. Question

    Most appraisers work ____.

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  12. Question 12 of 25
    12. Question

    The property being appraised is called ____.

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  13. Question 13 of 25
    13. Question

    An appraisal will not help you with ____.

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  14. Question 14 of 25
    14. Question

    Location is ____.

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  15. Question 15 of 25
    15. Question

    The location of a piece of property ____.

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  16. Question 16 of 25
    16. Question

    Heavy vehicle traffic will ____.

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  17. Question 17 of 25
    17. Question

    The change in value of a piece of property based in its location is not affected by ____.

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  18. Question 18 of 25
    18. Question

    Fair market value cannot be established unless a transaction is considered ____.

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  19. Question 19 of 25
    19. Question

    Value in use is ____.

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  20. Question 20 of 25
    20. Question

    Investment value is ____.

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  21. Question 21 of 25
    21. Question

    Property taxes are based on ____.

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  22. Question 22 of 25
    22. Question

    Why would a lender order an appraisal prior to giving a loan?

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  23. Question 23 of 25
    23. Question

    Which of the following is not one of the three methods of property appraisal?

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  24. Question 24 of 25
    24. Question

    Which appraisal approach would an insurance underwriter be most likely to use?

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  25. Question 25 of 25
    25. Question

    In real estate valuation, what does reconciliation entail?

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