Chapter 9,10,11 Flashcards
(38 cards)
Severe-cold climate
The northern-most portions of states that border
Canada often fall into this group—along with Alaska
Cold climate
This area takes a broad path across the country and includes
states that experience freezing temperatures during the winter months.
Some examples are New York, Iowa, Oregon, and northern California
Mixed-humid climate
This area includes the Mid-Atlantic states and
extends to the northeast portion of Texas. Some examples are North
Carolina, Tennessee, and the northern portions of Georgia and Louisiana
Hot-humid climate
The southwest portion of the country
includes states such as New Mexico, Arizona, Southern California, and
parts of Texas
Mr. Chatsworth’s residence is on the historic register, and he wants to know
the insurable value in order to replicate the building in the event of fire or storm
damage. What type of cost should the appraiser use?
A. direct cost
B. replacement cost
C. reproduction cost
D. indirect cost
C
What area is included in gross living area?
A. all floor areas in the house, garage, porches, decks, etc.
B. finished and habitable floor areas above grade
C. finished floor areas above and below grade
D. open non-floored area of a two-story foyer
B
Because of the unique attributes of the cost approach, it is ideally suited for
A. estimating insurable value.
B. estimating market value for lenders.
C. estimating value in a condemnation.
D. subdivision development analysis.
A
Steve has estimated the cost of excavation, the floor, wall, and roof components,
and the packaged costs for the electrical, heating, and plumbing. What cost
method is Steve using?
A. comparative unit method
B. price-index method
C. quantity survey method
D. unit-in-place method
D
Fogarty knows that the original cost of the building three years ago was
$750,000. If the cost index was 235 when the structure was built, what is the
estimated cost now if the index is at 267.9?
A. $657,895
B. $855,000
C. $996,750
D. $1,117,735
B. (267.9 / 235 = 1.14 × $750,000 = 855000)
What is the predominant type of frame construction used after World War II?
A. balloon
B. concrete block and stucco
C. platform
D. post and beam
C.
An appraiser observes that the distance between a private sewage system’s drain
field and the water well does not meet the minimum requirements. Under which
component of a building does this fall?
A. electrical
B. foundation
C. framing
D. plumbing
D
What type of foundation is likely to be found in housing that is located in a warm
climate and subject to occasional standing water?
A. basement wall foundation
B. monolithic slab foundation
C. pier foundation
D. slab with stem wall foundation
C
An earth-sheltered dwelling would likely be placed into which of the following
categories of housing design?
A. contemporary
B. specialized
C. split level
D. zero-story
B
An appraiser is analyzing the cost on a 1,500 sq.-ft., one-story residence and has
estimated the base cost at $75 per sq. ft. If the local multiplier is 1.10 and the
current cost multiplier is 1.05, what is the cost for the dwelling?
A. $107,386
B. $117,857
C. $129,937
D. $241,875
C
Reilly is counting the plumbing fi xtures in a second-fl oor bath and found that there
are two sinks, a toilet, a bathtub, and a separate shower stall. How many plumbing
fi xtures should Reilly include in his count?
A. 3
B. 4
C. 5
D. 7
C
In an appraisal of a typical detached residential structure, an appraiser
determines the gross living area by
A. measuring the exterior perimeter dimensions of the residence and
multiplying it by the current cost modifier.
B. using the exterior perimeter dimensions of the residence.
C. using the interior dimensions of the residence’s overall perimeter shell.
D. using the size provided by the real estate broker.
B
Low Cost (building)
These buildings are generally constructed to minimum code
requirements often with little regard for architectural appearance or amenities
Average (Building)
Buildings are generally
designed for maximum economic potential. They comply with standard code
construction and have simple ornamentation and finishes
Good (Buildings)
These buildings are designed for good appearance, comfort, and
convenience, as well as an element of prestige. Ornamentation treatment is
usually of higher quality, and interiors are designed for upper-class rentals
Excellent (buildings
These are sometimes referred to as prestige buildings. On an
economic basis, part of the cost must be written off to pride of ownership and
some of the income intangibly derived from advertising. Excellent dwellings
are generally built for the established professional or those with higher
incomes and have some degree of expensive finishes and fixtures
3 categories of depreciation:
- Physical deterioration
- Functional obsolescence
- External obsolescence
Physical deterioration
This is the slow destruction (or wear and tear) of the
structural components that goes on every day, from the moment a building is
completed
Functional obsolescence
The impairment of functional capacity attributed to
a particular property according to market tastes and standards
External obsolescence
a loss in value from physical or economic causes external to the
property
