All Module Quiz Questions

Question 1

This type of study may be characterized as “a site in search on a use”.

a) Fundamental Demand Analysis
b) Inferred demand analysis
c) Marketability study
d) Market Study

Answer 1

c) Marketability Study

Review 2.2 characterizing market analysis by depth of analysis

Question 2

A marketability study investigates the market conditions in a specific location for _____.

a) Several properties
b) General property type
c) A specific property type
d) Any property

Answer 2

c) A specific property

Review: 2.2 Characterizing Market Analysis by Depth of Analysis

Question 3

The two types of market analysis characterized by how demand is measured are inferred and _______.

a) Regressed
b) Directed
c) Forecasted
d) Fundamental

Answer 3

d) Fundamental

Review: 2.8 Market Actions

Question 4

Fundamental demand analysis allows the analyst to make a(n) __________ of future market activity.

a) Guess
b) Indication
c) Prediction
d) Forecast

Answer 4

d) Forecast

Review: 2.23 Levels of Market Analysis

Question 5

A prediction of the future based on the fundamental forces of demand.

a) Forecast
b) Demand
c) Fundamental demand analysis
d) Inferred demand analysis

Answer 5

a) Forecast

Review: 2.17 Fundamental Demand Analysis

Question 6

Information that is gathered first-hand by the analyst for a particular assignment. Facts and information collected specifically for the purpose of the investigation at hand.

a) Historical Data
b) Primary Data
c) Secondary Data
d) Forecasted Data

Answer 6

b) Primary Data

Review: 2.6 Primary and Secondary Data

Question 7

A change in population leads to a change in Households which leads to a change in demand for ________.

a) Office space
b) Housing units
c) Industrial space
d) Retail space

Answer 7

b) Housing units

Review: 2.20 Fundamental forces of demand continued

Question 8

A change in Employment leads to a change in Office jobs which leads to a change in demand for _________.

a) Retail Space
b) Industrial Space
c) Office Space
d) Housing units

Answer 8

c) Office Space

Review: 2.20 Fundamental forces of demand continued

Question 9

This is a characteristic of which marketability study: Relies primarily on macro data found in market studies.

a) None of these answers
b) Level A Marketability Study
c) Level B Marketability Study
d) Level C Marketability Study

Answer 9

b) Level A Marketability Study

Review: 2.25 Level A Marketability Study

Question 10

This is a characteristic of which marketability study: Includes competitive ranking of the subject property and its general location.

a) None of these answers
b) Level A Marketability Study
c) Level C Marketability Study
d) Level B Marketability Study

Answer 10

c) Level C Marketability Study

Review : 2.28 Level C Marketability Study

Question 11

Which items involves examining the demand for and supply of a property type and the geographic market area for that property type but does not focus on a specific property?

a) Market Study
b) Appraisal Process
c) Scientific Method
d) Marketability Study

Answer 11

a) Market Study

Review: 3.13 Step: Delineate the Market Area

Question 12

Which item refers to developing an opinion of a property’s value?

a) Marketability Study
b) Market Study
c) Appraisal Theory
d) Appraisal

Answer 12

d) Appraisal

Review: 3.1 Introduction, Learning Objectives and Learning Tips

Question 13

Which consideration is not used to determine the level of marketability study for an appraisal assignment?

a) Prevailing market conditions affecting the property
b) Complexity of the property
c) Regulatory requirements affecting the property
d) Construction costs for the property

Answer 13

Need to look up this answer**

Review: 3.27 Determining the Adequacy of Market Analysis Checklist

Question 14

Spatial attributes include situs and ______.

a) Market standard
b) Market area
c) Linkage
d) Holes in the market

Answer 14

c) Linkage

Review: 3.9 Location or Spatial Attributes

Question 15

A _______ is a judgement the analyst makes regarding the presence in the subject property of attributes that are typically desired in the subject property’s market area. The result is a single value the represents the subject property’s competitive position relative to accumulated information about rental rates, vacancies, parking adequacy, access onto the site, building design, accessibility to the market area, etc.

a) Legal Attributes
b) Spatial Attributes
c) Competitive differential
d) Market Standard

Answer 15

d) Market Standard

Review: 3.7 Property Productivity Analysis

Question 16

________ uses these steps:

1. Identify the existing situation
2. Identify the future situation

a) Subject capture
b) Stabilized occupancy (or vacancy)
c) Supply analysis
d) Residual demand analysis

Answer 16

d) Residual demand analysis

Review: 3.17 Step 5: Calculate Residual Demand

Question 17

________ is the geographic area adjoining a property from which a majority of demand and the majority of competition are drawn.

a) Linkage
b) Situs
c) Market area
d) Holes in the market

Answer 17

c) Market area

Review: 3.13 Step 2: Delineate the Market Area

Question 18

Which statement best describes capture analysis?

a) Capture analysis is not concerned with the subject property’s stabilized occupancy
b) Capture analysis is concerned with the expected performance of the subject property.
c) Capture analysis does not consider the results of property productivity analysis.
d) Capture analysis is only concerned with the performance of the subject property.

Answer 18

b) Capture analysis is concerned with the expected performance of the subject property.

Review: 3.20 Subject Capture

Question 19

_______ uses the following steps:

1. Identify direct competition
2. Identify significant attributes and characteristics of competing properties
3. Segment supply characteristics to match demand characteristics.

a) Stabilized occupancy (or vacancy)
b) Residual demand analysis
c) Subject capture
d) Supply analysis

Answer 19

d) Supply analysis

Review: 3.16 Step 4: Analyze Supply - Identify, Describe, and Project/Forecast

Question 20

An appraiser who performs a fundamental demand analysis uses ________.

a) Secondary data on absorption in the property market for the overall area.
b) Consumer attitude and preference surveys to predict future behavior.
c) Trend analysis only to predict sales and leasing activity in the city or metropolitan area.
d) Forecasts of population, income, and employment and prices and/or rents in the specific property market.

Answer 20

d) Forecasts of population, income, and employment and prices and/or rents in the specific property market.

Review: 3.15 Step 3: Analyze demand - Identify, Describe, and Project/Forecast

Question 21

_______ is branch of statistics concerned only with characterizing, or describing a set of numbers. The measures used to characterize a set of data (e.g., average, maximum, coefficient of dispersion) or charts and tables depicting the data.

a) Descriptive statistics
b) population
c) Sample
d) Inferential statistics

Answer 21

a) Descriptive statistics

Review: 4.3 Market Analysis and Statistics

Question 22

______ is a set of data drawn from a population – e.g., the office space that was leased in a market during a particular time period.

a) sample
b) Inferential statistics
c) population
d) Descriptive statistics

Answer 22

a) Sample

Review: 4.3 Market Analysis and Statistics

Question 23

Inferential statistic allows the analyst to draw conclusions about a population based on a ________.

a) Sample
b) population
c) description
d) range

Answer 23

a) sample

Review: 4.3 Market Analysis and Statistics

Question 24

___________ is the statistical measure of reliability based on how the data “lumps” in the middle of a data sample.

a) Measures of central tendency
b) Extrapolation
c) Descriptive statistics
d) Measures of dispertion

Answer 24

Need to look up this answer***

Review: 4.6 Inferences and reliability

Question 25

_____ is the middle number in the set of numbers. a) Standard deviation b) Mean c) Median d) Mode

Answer 25

c) Median Review: 4.9 Median

Question 26

When the median does not equal the mean, the distribution is ______ in the direction of the mean. a) Deteriorated b) Distorted (non-normal) c) Normal d) Abstract

Answer 26

b) Distorted (non-normal) Review: 4.15 Distorted Distribution

Question 27

_____ is the value of the highest data point less the value of the lowest data point. a) Mean b) Mode c) Median d) Range

Answer 27

d) Range Reivew: 4.16 Measures of dispertion

Question 28

When the results are unreliable, the data set cannot be relied upon as a basis for projecting a trend into the future. a) True b) False

Answer 28

a) True Review: 4.28 Alternate Market Analysis Tools

Question 29

______ is a data point (an onservation) that is much larger than the others. a) Mean b) Moder c) Median d) Outlier

Answer 29

d) Outlier Review: 4.20 Graphing basics continued

Question 30

In a graph, the _________ is associated with the independent variable, which is typically identified as the x axis a) Horizontal axis b) Legend c) Title d) Vertical axis

Answer 30

a) Horizontal axis Review: 4.18 Graphing Basics

Question 31

A tract of land that has been divided into lots or blockes with streets, roadways, open areas, and other facilities appropriate to its development as residential, commercial, or industrial sites is called_______. a) A finished lot b) Primary competition c) Residential situs d) A subdivision

Answer 31

d) A subdivision Review: 5.2 Overview : Definition

Question 32

A market analysis for a subdivision differs from a market analysis for multi unit and office properties in the subdivision properties have a _______ (the sellout period), whereas the other two properties have indefinite lives with fluctuating occupancy. a. Infinite life b. Finite life c. Half life d. None of these answers

Answer 32

a. Infinite life Review: 5.2 Overview: Definition

Question 33

Residential subdivision properties are typically developed with the purpose of household shelter within an area accessible to centers of employment. a. True b. False

Answer 33

a. True | Review 5.8 Step 1 Analyzing Property Productivity

Question 34

_____ are building characteristics affecting property value. a. Special features b. All of these answers c. Interior features d. Exterior features

Answer 34

b. All of these answers Review: 5.11 Building characteristics affecting property value

Question 35

For residential properties, all of the following linkages are typically positive except for____. a. Proximity to medical services b. High-traffic areas c. Availability of public transportation d. Good roads and access

Answer 35

b. High-traffic areas Review: 5.15 Linkages

Question 36

_________ can affect the size and design of homes, width of streets, the construction of sidewalks, etc. a. Codes, covenants, and restrictions b. Building codes c. Local zoning ordinances d. Neighborhood/homeowner’s associations

Answer 36

Need to look up this answer *** Review: 5.13 Step 1.2 Analyzing Legal Characteristics

Question 37

__________ include these characteristics that might influence the value of specific lots in a suburban residential subdivision: • Size of lot, • Shape, or how the home would site on the property • Topography • Soil quality • Orientation and • Stage of development a. Property characteristics b. Building characteristics c. Locational characteristics d. Legal characteristics

Answer 37

Need to look up this answer *** Review: 5.10 Site Characteristics Affecting Property Value

Question 38

The goals of competitive market delineation are to identify the properties that compete for purchaser demand and dollars, identify acceptable substitutes for a property and ________. a. Identify the location in which properties compete for different purchasing dollars b. Identify the location in which properties compete for the same utilities. c. Identify the location in which properties compete for the different purchasers. d. Identify the location in which properties compete for the same purchasing dollars

Answer 38

d. Identify the location in which properties compete for the same purchasing dollars. Review: 5.22 Step 2.2 Delineating Competitive Properties

Question 39

The time-distance relationship between a property and the most desired destinations is referred to as ____. a. A property productivity analysis b. Primary competition c. Residential situs d. Linkages

Answer 39

d. Linkages | Review: 4.14 Step 1.3 Analyzing the Locational Characteristics

Question 40

The definition “any recognized line or barrier that delineates a perimeter of a physical area. Boundaries may coincide with changes in prevailing land use, occupant characteristics, natural boundaries, or man-made boundaries” refers to ______. a. Competitive housing b. Boundaries c. Delineate d. Residential situs

Answer 40

b. Boundaries Review: 5.22 Step 2.2 Delineating Competitive Properties

Question 41

If variations in historical performance appear unrelated to outside (economic) forces, a measure of central tendency may be a reliable indicator of future performance a. True b. False

Answer 41

a. True | Review: 6.14 Step 3.1 Conduct Trend analysis using inferred data: Step 3.1(1) continued

Question 42

Use the following data set to answer this question. What is the median of this data set: ``` Time Period New Space Leased (SF) 6 yrs ago 11,000 5 yrs ago 11,000 4 yrs ago 15,000 3 yrs ago 20,000 2 yrs ago 21,000 1 yr ago 22,000 current year 40,000 ``` a. 20,000 b. 11,000 c. 15,000 d. 16,750

Answer 42

a. 20,000 Review: 4.11 Problem: Calculating Mean, Median, and Mode

Question 43

________ is a type of analysis that focuses on the percentage of the total potential market a residential property or project is expected to attract. a. Trend analysis b. Residential capture analysis c. Residual demand analysis d. Subject capture

Answer 43

b. Residential capture analysis | Review: 6.25 Step 4 measure and project competitive supply: Step 4.1 Continued

Question 44

Which statement is true about the inventory of competitive supply? a. It must come from the same competitive market area as demand and appeal to the same market segment b. It is always derived from secondary sources c. It covers the same general property type within the same general area d. It covers all residential properties within the competitive market area.

Answer 44

a. It must come from the same competitive market area as demand and appeal to the same market segment. Review: 6.2 Overview of Study steps

Question 45

Most communities contain examples of all four categories: single-unit detached, single-unit attached, mulitunit rental, and condominium. a. True b. False

Answer 45

a. True Review: 6.6 Types of Housing Units

Question 46

_______ analysis is used to understand the extent and nature of the local economy and to generate data for real estate market research. a. Macro b. . Trend c. Micro d. Residual Demand

Answer 46

a. Macro Review: 6.9 Step 3.1 Conduct Trend Analysis using inferred Data: Step 3.1(1) continued

Question 47

Macro analysis answers the question: "What local economic factors drive the local economy and market?" a. True b. False

Answer 47

a. True Review: 6.9 Step 3.1 Conduct Trend Analysis using inferred Data: Step 3.1(1) continued

Question 48

Which statement is true regarding subject capture analysis in a Level B marketability study? a. Capture analysis is only concerned with the performance of the subject property b. Capture analysis does NOT consider the results of property productivity analysis c. Capture analysis is NOT concerned with the performance of the subject property's primary competition d. Capture analysis is concerned with the expected performance of the subject property.

Answer 48

d. Capture analysis is concerned with the expected performance of the subject property. Review: 3.20 Capture Analysis

Question 49

Which area of inquiry regarding competing properties does this following question apply to: "What are the past sales pace including settled and under contract sales?" a. Absorption projection b. Absorption summary c. Type of project d. Identification of finished product

Answer 49

b. Absorption summary Review: 6.20 Step 3.1 Conduct trend analysis using inferred data: Step 3.1(3) continued

Question 50

Which area of inquiry regarding competing properties does the following question apply to" "When did the project begin marketing and how long has it been marketed?" a. Identification of finished product b. Total number of lots c. Type of project d. Age of project

Answer 50

d. Age of project Review: 6.20 Step 3.1 Conduct trend analysis using inferred data: Step 3.1(3) continued

Question 51

______ is a multifamily property form of ownership with limited ownership interests in, or the rights of use and occupancy of, residential apartments or hotel room. a. Cooperative b. Condominium c. Timesharing d. Retirement housing

Answer 51

d. Retirement housing | 7. 16 Multifamily Property Forms of Ownership: Timeshare

Question 52

_______ is a multifamily property form of ownership often used for seasonal (vacation) housing. a. Condominium b. Cooperative c. Retirement housing d. Timesharing

Answer 52

d. Timesharing | 7. 16 Multifamily Property Forms of Ownership: Timeshare

Question 53

_______ is a multifamily property form of ownership when each owner possess the exclusive right to use and occupy an alloted unit plus an undivided interest in common areas. a. Cooperative b. Timeshare c. Rental d. Condominium

Answer 53

d. Condominium | 7. 14 Multifamily Property Forms of Ownership: Condominium

Question 54

The four types of multifamily ownership are rental unit, condominium, cooperative, and timeshare. a. True b. False

Answer 54

a. True | 7. 12 Multifamily Property forms of ownership

Question 55

Rental rates can be unregulated (market rate), regulated (rent control), or _____. a. Specialized b. Franchised c. Substandard d. Subsidized

Answer 55

d. Subsidized | 7. 13 Multifamily Property forms of ownership: Rental Unit

Question 56

_______ is a multifamily property type with eight stories or more, depending on the area, elevator provided, usually of steel and masonry construction, achieve densities well in excess of 20 units per acre, often include above or below grade structured parking - can be related to number of bedrooms, and often include unit amenities such as balcony, washer-dryer, unique features. a. Garden Apartment b. Two- to four-unit building c. High-rise apartment d. Mid-rise apartmentd

Answer 56

c. High-rise apartment | 7. 7 Multifamily Property Types: High Rise Apartments

Question 57

______ is achieved when the project is properly conceived with respect to its location and intended tenants. a. Gross building area (GBA) b. Optimum unit mix c. Net rentable area (NRA) d. Efficiency ratio

Answer 57

b. Optimum unit mix | 7. 23 Property analysis: Physical Characteristics - Unit size, Design, and Utility

Question 58

_______ is the distribution of allocation of the various unit types. a. Efficiency ratio b. Gross building area (GBA) c. Net rentable area (NRA) d. Unit Mix

Answer 58

d. Unit Mix | 7. 23 Property analysis: Physical Characteristics - Unit size, Design, and Utility

Question 59

Residential neighborhoods identified and compared on the basis of their appeal and characteristics are included in a _____ analysis. a. Micro location b. Neighborhood c. Market Area d. Macro location

Answer 59

Need to look up this answer 8.23 Six-Step Process: Step 1.4 and 1.4(1)

Question 60

What is: Six step process: Step 3.1(2) a. Evaluate demand for the subject property type within the competitive market area b. Identify the performance of the subject property's primary competition c. None of these answers d. Measure and project the number of households in the market area.

Answer 60

a. Evaluate demand for the subject property type within the competitive market area 8. 41 Six-Step Process: Step 3.1(1)

Question 61

_______ refers to analysis of a property's capacity to deliver goods and services to meet human needs. a. Property productivity analysis b. Neighborhood c. Boundaries d. Competitive market area

Answer 61

a. Property productivity analysis | 8. 19 Six-Step Process: Step 1 and 1.1

Question 62

What is: Six step process: Step 3.1(1)? a. Measure and project the number of households in the market area b. Evaluate demand for the subject property type within the competitive market area. c. None of these answers d. Identify the performance of the subject property's primary competition

Answer 62

a. Measure and project the number of households in the market area 8. 39 Six Step Process: Step 3.1(1)

Question 63

_______ are a function of many factors, including the subject property's amenities, unit sizes, and neighborhood quality. a. Boundaries b. Property productivity analysis c. Competitive market area d. Neighborhood

Answer 63

a. Boundaries | 8. 33 Six Step Process: Step 2.2

Question 64

The competitive market area excludes projects that may be geographically similar but do not compete in terms of price, quality, or product type. a. True b. False

Answer 64

a. True | 8. 33 Six Step Process: Step 2.2

Question 65

Renter households tend to be smaller than owner households and are less likely to include children; schools are therefore often not a major factor. a. True b. False

Answer 65

a. True | 8. 29 Six-Step Process: Step 2.1 continued

Question 66

________ is not a standard building property class. a. C b. A c. B d. D

Answer 66

d. D | 8. 19 Six-Step Process: Step 1 and 1.1

Question 67

Characteristics of ______ include renter or owner occupant, user stability and age/income-restricted or general residential market. a. Building characteristics b. Competitive market area c. User characteristics d. Locational characteristics

Answer 67

c. User characteristics | 8. 19 Six-Step Process: Step 1 and 1.1

Question 68

________ is a certification relating to energy conservation and resource recycling a. LEAD b. None of these answers c. LEED d. LEID

Answer 68

c. LEED | 10. 16 What Office Tenants Want

Question 69

One of the ways categories of Office Market users can be identified is by the SIC system. What does SIC stand for? a. Standard Incremental Classification system b. None of these answers c. Standard Industrial Classification system d. Sanctioned Industrial Classification system

Answer 69

c. Standard Industrial Classification System | 10. 12 Office Market Segmentation: User Categories

Question 70

_______ is generally the lowest quality space in a community. a. Class B b. Trophy class c. Class C d. Class A

Answer 70

c. Class C | 10. 7 Class C characteristics

Question 71

________ is the highest quality office space category in most markets. a. Trophy b. Class B c. Class C d. Class A

Answer 71

d. Class A | 10. 5 Class A Characteristics

Question 72

For office buildings _______ refers to the actual occupiable area of a floor or an office space. a. Floor common area b. Usable area c. Building common area d. Floor area

Answer 72

b. Usable area | 10. 17 Key Office Building Terms

Question 73

__________ refers to a rental arrangement whereby the tenant's rent is intended to be inclusive of all expenses associated with occupancy. a. Usable area b. Efficiency ratio c. Rentable area d. Full-service rent

Answer 73

d. Full-service rent | 10. 17 Key Office Building Terms

Question 74

A ______ results in less rentable area (thus less income) a. None of theses answers b. Low efficiency ratio c. Efficiency ratio d. High efficiency ratio

Answer 74

b, Low efficiency ratio 10.18 Discussion: Efficiency Ratio

Question 75

______ refers to the occupiable area of a floor or an office space. a. Floor area b. Usable area c. Efficiency ratio d. Market segmentation

Answer 75

b. Usable area | 10. 17 Key Office building terms

Question 76

In appraising ____ refers to the ratio between the rentable and gross area of a building. a. Rentable area b. Efficiency ratio c. Usable area d. Full-service rent

Answer 76

b. Efficiency ratio | 10. 17 Key Office Building Terms

Question 77

The subject building's location, building class, and most likely users/tenants are key variables that are usually _____ in any segmentation. a. Considered last b. Not considered c. None of these answers d. Considered first

Answer 77

d. Considered first | 10. 9 Office Market Segmentation

Question 78

_______ refers to the identification of general nature of office users. a. Key demographics b. Linkages c. Node d. Tenant profile

Answer 78

d. Tenant profile | 5. 15 Linkages

Question 79

______ is the process used in estimating total office demand for a specific property. a. Frictional vacancy calculation b. Market analysis c. Market Study d. segmentation

Answer 79

b. Market analysis Step 3.1 estimating demand

Question 80

______ refers to the identification of the node as it related to location features. a. Maxi b. Mini c. Macro d. Micro

Answer 80

c. Macro | 11. 7 Step 1: Analyze Property Productivity - Step 1.4(1)

Question 81

The most important factor in delineating a market area for office properties is ______________. a. Data must be applied the same way as it is extracted b. Identifying and studying all similar office building c. Finding office buildings with similar rents that have sold d. Demand and supply must be measured from the same market area

Answer 81

d. Demand and supply must be measured from the same market area Delineating the Market Step 2.1

Question 82

_________ is a cluster of properties with the same or complementary uses; generally a nucleus of office buildings and retail stores. a. Node b. Linkages c. Key Demographics d. Tenant Profile

Answer 82

a. Node | 11. 7 Step 1: Analyze Property Productivity - Step 1.4(1)

Question 83

Which of the following is the least reliable source for an estimate of employment? a. BLS (bureau of labor statistics) b. Local Chamber of Commerce brochure c. Commercial vendors d. State employment commission

Answer 83

b. Local Chamber of Commerce brochure Step 3.1(1)(a) Demand Estimation or Projection

Question 84

________ is an office building competes primarily with other office buildings in its own node, so the subject property's location within the node is critical to determining its competitive position. a. Intranodal considerations b. Survey of the competition c. All of theses answers are specific steps in the market analysis for office demand d. Identify the performance of the subject property's primary competition.

Answer 84

a. Intranodal considerations | 11. 12 Step 2: Delineate the Market Areas - Step 2.2

Question 85

________ is not a specific step in inferred market analysis for office demand. a. Measure and project the number of office jobs in the market area. b. Convert the projected market area office hobs into demand for aoffice space c. All of these answers are specific step in the market analysis for office demand. d. Identify the performance of the subject property's primary competition

Answer 85

c. All of these answers are specific step in the market analysis for office demand. Step 3.1 in the market analysis six-step process. These steps apply in both inferred and fundamental market analysis.

Question 86

If population is growing but not employment, it could indicate ____________. a. A future increase in demand for local office space. b. A dependence on commuters c. No possible increase in demand for local office space d. An immediate urgent increase in demand for local office space.

Answer 86

a. A future increase in demand for local office space. | 11. 17 Step 3.1(1)

Question 87

In an intranodal analysis, an office building competes primarily with other office buildings in its own node, so the subject property's location within the node is critical to determining its competitive position. a. True b. False

Answer 87

a. True Step 2.2 Delineating the Market Area

Question 88

If the subject property's competitive market area is expected to attract its pro rata share of future supply and demand, the __________ for the market area need not be calculated. a. Residual demand b. Frictional vacancy c. Supportable demand d. Available office space

Answer 88

a. Residual demand | 12. 8 Step 5.2

Question 89

_______ refers to a comparison of supply and demand to determine the amount of oversupply or undersupply. a. Supportable demand b. Subject capture c. Residual demand d. Pro rata share method

Answer 89

c. Residual demand | 12. 8 Step 5.2

Question 90

Gross building area is the ________________. a. Gross measured area less major vertical penetrations on that same floor b. Sum of usable areas of office areas, store areas, and common areas of a floor c. Total floor area of a building, excluding unenclosed areas, measured from the exterior of the walls of the above-grade area. d. Total area of all floors of a building enclosed by the dominant portion of an exterior wall excluding all construction outside the building's vertical line.

Answer 90

c. Total floor area of a building, excluding unenclosed areas, measured from the exterior of the walls of the above-grade area Module 10, Page 10.17 Key office building terms

Question 91

Usable area is the ____________ a. Gross measured area less major vertical penetrations on that same floor. b. Actual occupiable area of a floor or an office space. c. Total area of all floors of a building enclosed by the dominant portion of an exterior wall excluding all construction outside the building's vertical line. d. Total area of all floors measured from the exterior of the walls plus superstructure and substructure floor areas.

Answer 91

b. Actual occupiable area of a floor or an office on that same floor. See Module 10, Page 10.17 Key office building terms

Question 92

Rentable area typically does NOT include __________ a. Any element that penetrates through the floor b. Toilets, HVAC rooms, electric and telephone closets c. Public corridors and lobbies d. Internal hallways

Answer 92

a. Any element that penetrates through the floor Module 10, Page 10.17 Key office building terms

Question 93

If the subject property is rated superior to its competition, it should attract demand ____________ of its proportionate share of supply. a. Less than b. In excess c. The same as d. None of these answers

Answer 93

b. In excess | 12. 14 Step 6: Project subject capture - Step 6.1

Question 94

________ is nothing more than determining the residual demand for the subject property within the node. a. Future performance b. Subject capture c. Supportable demand d. Pro rata share method

Answer 94

need to look up this answer 12.13 Step 6: Project Subject Capture

Question 95

In a contemporary appraisal analysis, the appraiser should be more concerned about _______ a. Past supply b. future demand c. current supply d. current demand

Answer 95

b. future demand | 12. 7 Step 5.1

Question 96

Which statement is incorrect? a. The competitive space inventoried must match the characteristics defined in Step 3, which addresses demand. b. The first part of Step 4 involves inventorying current supply. Like demand, supply is measured first in the market area, then in the node. c. If demand is measured for a particular type or class of office space, the inventoried competitive supply must be of the same type and class. d. The first part of Step 4 involves inventorying current supply. Like demand, supply is measured first in the node, then in the market area.

Answer 96

d. The first part of Step 4 involves inventorying current supply. Like demand, supply is measured first in the node, then in the market area. See Step 4, measure and project competitive supply. Step 4.1

Question 97

_________ refers to a comparison of supply and demand to determine the amount of oversupply or undersupply a. Supportable demand b. Subject capture c. Residual demand d. Pro rata share method

Answer 97

c. Residual demand | 12. 8 Step 5.2

Question 98

Step 6: Project Subject Capture is a projection of the subject property's __________. a. Subject capture b. Supportable demand c. Pro rata share method d. Future performance

Answer 98

d. Future performance. | 12. 13 Step : Project Subject capture

Question 99

___________ is based on the premise that the subject property should attract demand in relation to its size. a. Future performance b. Subject capture c. Pro rata share method d. Supportable demand

Answer 99

c. Pro rata share method | 12. 14 Step 6: Project subject capture - Step 6.1

Question 100

Which statement is true? a. All of these statements are true. b. Under-construction space is typically considered equivalent to existing space if it is competing for current office tenants. c. Like demand, supply is measured first in the market area, then in the node. d. Projecting competitive space requires gathering information and expert opinion about office projects currently being planned for development and analyzing the probability of these projects being developed.

Answer 100

a. All of these statements are true. See step 4.1