Final Exam

Question 1

Housing costs and location near Swift River make this neighborhood competitive.
Typical marketing time is less than 30 days. Marketing time in comparable
neighborhoods not located on Swift River is typically more than 60 days. Because
they are close to a variety of recreation opportunities, homes in this neighborhood
are being sold to young, often first-time buyers.

In this paragraph, the sentence that states the topic is the

Answer 1

first sentence.

Question 2

Which of the following words best signals to the reader that the writer has come
to a conclusion?

A. because
B. moreover
C. pursuant to
D. therefore

Answer 2

therefore

Question 3

Governmental, economic, social, and environmental forces
value .
In this sentence, what word would be correct?

Answer 3

affect

Question 4

A sentence that describes what will be discussed in the rest of the sentences in
the paragraph is called the

Answer 4

topic sentence.

Question 5

Comparable Improved Sale 1, which sold for $73,000, has one and one-half baths.
The market area analysis indicates that buyers in this market area prefer an extra
full bath. Because the subject property has one and one-half baths, Comparable
Improved Sale 1 requires no adjustment for number of bathrooms.
This paragraph appears in a report to explain an adjustment made in the sales
comparison approach.
What form of depreciation would you expect to see discussed in the cost
approach analysis for the same subject property?

Answer 5

functional obsolescence

Question 6

Some buyers in this market seem to prefer two-car garages.
The sentence suggests that the writer is that there is a
preference for two-car garages.

Answer 6

not sure

Question 7

Form and narrative reports are similar in that both require

Answer 7

the same amount of research and analysis.

Question 8

All of the following are best understood if the writer presents them in a
table except:

A. adjustments to comparable site sales.
B. market-extracted site value indications.
C. ranking analysis of comparable sales.
D. reconciliation of value indications from comparable site sales.

Answer 8

reconciliation of value indications from comparable site sales.

Question 9

The site is large and has a deep ravine.
This is a weak descriptive sentence because the writer uses

Answer 9

imprecise language.

Question 10

“Because of the fact that” is an example of

Answer 10

verbal flab.

Question 11

If a comparable single-unit residence is new and the subject property is eight
years old, which of the following would you expect to be discussed in all the
approaches to value?

Answer 11

physical deterioration

Question 12

An argument that begins with specific details and ends with a conclusion displays

Answer 12

inductive reasoning.

Question 13

Which rewrite of the following sentence corrects an error in the original sentence?
Entrepreneurial incentive as taken from the Appraisal Institute’s publication,
The Dictionary of Real Estate Appraisal , 7th edition, is … .

Answer 13

The definition of the term entrepreneurial incentive taken from the
Appraisal Institute’s publication The Dictionary of Real Estate Appraisal ,
7th edition, is … .

Question 14

Therefore, development as a two-story duplex the most
reasonable legally permitted use.
What is the most accurate word for the space above?

Answer 14

is

Question 15

This large community in Alabama is experiencing a state of serious undersupply;
therefore, new development of residences is financially feasible.
Which word(s) in this sentence is (are) redundant?

Answer 15

a state of

Question 16

Development as a single-unit residence similar to the existing home represent
highest and best use of the site as though vacant.
The grammatical error in this sentence is in

Answer 16

subject-verb agreement.

Question 17

As discussed in the regional and neighborhood analysis section of this report,
heightened demand for single unit housing, combined with the location of the
Greenfield neighborhood, provides support for increased residential demand for
single unit housing.
How would you correct the errors in this sentence?

Answer 17

Place a hyphen between single and unit.

Question 18

To emphasize a new discussion, writers use at the beginning of
distinct parts of a single discussion.

Answer 18

headings

Question 19

Which words in the following sentence should begin with capital letters?
The Appraisal was performed in January 2005, using a Sales Comparison Approach.

Answer 19

The, January

Question 20

If typical buyers in the subject’s neighborhood want houses with 2.5 bathrooms
and the subject property has 1.5 bathrooms, the cost approach would have to
contain a discussion of

Answer 20

functional obsolescence.

Question 21

When the writer thinks there is no overwhelming evidence for the conclusion, but
1. When the conclusion the writer probably thinks there is reasonable is no overwhelming, the most appropriate evidence forword the conclusion is

Answer 21

nonetheless.

Question 22

It is necessary to spell out a word

Answer 22

before it appears as an acronym.

Question 23

What appraisal and writing technique do appraisers typically use to narrow a range
3. What of value appraisal indications and? writing

Answer 23

qualitative analysis.

Question 24

This letter must remain attacked to the appraisal report, which contains 65 pages,
4. This including letter addenda must remain, in order attacked for the tovalue the appraisal opinion to report be considered, which contains valid. 65 pages,
including addenda, in order for the value opinion to be considered valid.
The incorrect word in the sentence above is

Answer 24

attacked.

Question 25

If the appraiser says that a property is located in an area suffering from external
obsolescence due to overbuilding, the income capitalization approach discussion
would most likely include anticipation of

Answer 25

lower market rents.

Question 26

In a final reconciliation, a sentence that says, “the cost approach sets the upper
limit of value” is undesirable because it

Answer 26

is a broad generalization.

Question 27

Spell out $1,250,700 correctly.

Answer 27

one million two hundred fifty thousand seven hundred dollars

Question 28

Rewrite the following sentence using the active voice.
The home on 12th Street was sold by Dr. Johnson and purchased by Dr. Smith.

Answer 28

Dr. Johnson sold the home on 12th Street to Dr. Smith.

Question 29

Rewrite the following sentence to eliminate legalistic language.
Pursuant to the existing lease, the lessee, Mary Jones, is entitled to forbearance of
the rent until January 2007.

Answer 29

According to the lease, the renter pays nothing until January 2007.

Question 30

In my opinion, I believe the value of the leased fee estate in the apartment building
located at 75 South Street is $950,500 dollars as of December 6, 2005.
Which words or phrases can be deleted from the sentence above to eliminate
redundancy?

Answer 30

In my opinion and dollars