Plant Appraisal

Question 1

Correctness or absence of error or bias

Answer 1

Accuracy

Question 2

Act or process of developing an opinion of value cost or some other specified assignment result

Answer 2

Appraisal

Question 3

Systematic steps that an appraiser takes to solve an appraisal problem

Answer 3

Appraisal process

Question 4

Appraisers opinions and conclusions developed for a specific assignment

Answer 4

Assignment result

Question 5

Attributes that benefit or provide utility to someone or something

Answer 5

Benefits

Question 6

Percentage rate derived by dividing a properties net operating income by its sale price a rate divided into the subject property’s net operating income for purposes of estimating market value

Answer 6

Capitalization rate

Question 7

Damage destruction or loss of property resulting from an identifiable event, that is sudden unexpected or unusual

Answer 7

Casualty loss

Question 8

Instrument used for measuring the height of a tree or other structure

Answer 8

Clinometer

Question 9

A plant appraisal, the amount awarded by a court to settle a legal claim

Answer 9

Compensation

Question 10

Amount by which the addition of an item increases the value of the whole or the amount by which the value of the whole decreases in the absence of that item

Answer 10

Contributory value

Question 11

Amount of money required to create produce or obtain a property or service

Answer 11

Cost

Question 12

Cost approach technique in which the cost of a smaller plant is extrapolated to a larger plant based on the cost of money and time to achieve parity; also known as cost forwarding

Answer 12

Cost compounding technique CCT

Question 13

Upper part of a tree consisting of the branches and foliage it’s length is measured from the lowest branch to the top of the tree

Answer 13

Crown

Question 14

Cost to replace an item with an exact replica, less depreciation

Answer 14

Depreciated reproduction cost

Question 15

Loss in value from any cause typically caused by either physical, deterioration, functional limitations or external factors

Answer 15

Depreciation

Question 16

Tree diameter measured at 4.5 feet above the soil line in the United States and some other countries

Answer 16

Diameter at breast height DBH

Question 17

Extent to which the fair market value of a property has declined as a direct result of a casualty event

Answer 17

Diminution in market value

Question 18

Income based evaluation in which the appraiser develops a stabilized net operating income for an asset and an appropriate capitalization rate the estimated value equals net operating income divided by the capitalization rate

Answer 18

Direct capitalization

Question 19

An income based valuation in which the appraiser uses an evaluation of the actual or estimated periodic net income produced by the revenues and expenses in the operation and ultimate resale of an income producing property

Answer 19

Discounted cash flow analysis

Question 20

Legal non-possessory interest in real property that conveys use or partial use, but not ownership of all or more typically a portion of an owner’s property

Answer 20

Easement

Question 21

Value that ecosystem services produced by plants and other natural resources such as habitat, clean air, water, and wildlife contribute to society typically a non-market value

Answer 21

Ecosystem value

Question 22

Body of moral principles or values governing a group or individuals conduct

Answer 22

Ethics

Question 23

Factors outside the property and outside the control of the tree owner that affect life expectancy, structure, health or form

Answer 23

External limitations

Question 24

Formulaic method of inferring from the total or unit cost of a small tree what the theoretic installed cost or value of a larger tree might be

Answer 24

Extrapolation

Question 25

Synonymous with market value

Answer 25

Fair market value

Question 26

Factors associated with the property or the tree itself that limit future plant development

Answer 26

Functional limitations

Question 27

Cost of substitute item that provides equivalent, utility benefits or function rather than the cost to produce an exact replica

Answer 27

Functional replacement cost

Question 28

Fax or data that are understood or assumed to be true such as a homeowner telling an appraiser the location of their property property boundaries

Answer 28

General assumptions

Question 29

A tree specimen considered significant because of its size form shape, beauty, age, color, rarity, genetic constitution, historic origin, or some other distinctive feature

Answer 29

Heritage tree

Question 30

Reasonably probable and legal use of a property that is physically possible and financially feasible, and results in the highest value, the cornerstone of market value estimation

Answer 30

Highest and best use (HBU)

Question 31

Condition stipulated by the appraiser that is contrary to what is known to be true. example - the condition of a damaged plant before the damage occurred or new zoning

Answer 31

Hypothetical condition

Question 32

Constraints imposed upon appraisals, often associated with items, such as the scope of work, the availability of data access, and use of the report

Answer 32

Limiting conditions

Question 33

Venue or economic structure within which goods and services are exchanged for money

Answer 33

Market

Question 34

Most probable price as of a specified date in cash, or in real terms equivalent to cash, or in other precisely revealed terms for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale with the buyer and seller, each acting prudently, knowledgeably, and for self interest and assuming that neither is under undue duress

Answer 34

Market value

Question 35

Standing timber large enough to be sold to a mill

Answer 35

Merchantable timber

Question 36

Explicit form of depreciation in which the value of an object is reduced directly by the cost to repair that item

Answer 36

Monetary reduction

Question 37

Process for estimating the value of resources that are not commonly bought and sold in the marketplace

Answer 37

Non-market valuation

Question 38

General term for any value that is not based on the concept of exchange or rooted in actual transactions between buyers and sellers or cannot be obtained from a market price

Answer 38

Non-market value

Question 39

State of being equivalent in size or quality or producing equivalent benefits

Answer 39

Parity

Question 40

Situation in which a damaged plant or landscape item cannot be fully restored to its pre-damaged condition, but is otherwise expected to produce future benefits

Answer 40

Partial loss

Question 41

Tangible property that is not permanently fixed to the real estate, such as nursery stock prior to planting lumber, equipment, furniture, and money also refers to intangible property

Answer 41

Personal property

Question 42

Loss and value caused by wear and tear or other physical deterioration maybe curable or incurable

Answer 42

Physical deterioration

Question 43

Act or process of formulating an opinion of a defined value or a defined cost may apply to plants, landscape elements or services

Answer 43

Plant appraisal

Question 44

Information collected for the plants on a site

Answer 44

Plant inventory

Question 45

Measure of exactness, how fine or precise a quantity measurement or estimate is a number can be precise without being accurate

Answer 45

Precision

Question 46

Amount of money asked offered or paid for property or services

Answer 46

Price

Question 47

Principal asserting that value is created by the expectation of future benefits

Answer 47

Principle of anticipation

Question 48

Principle asserting that property value is created when contrasting opposing or interacting components are in a state of equilibrium

Answer 48

Principle of balance

Question 49

Principle asserting that property value is created and sustained with the property characteristics that conform to the demands of its market as expressed in economic pressures and shared preferences for certain types of structure, amenities and services

Answer 49

Principle of conformity

Question 50

Principal asserting that land should not be valued based on one use while improvements on the land are valued based on another use

Answer 50

Principle of consistent use

Question 51

Principal asserting that value of a particular component of a property is measured in terms of its contribution to the value of the whole property or the amount by which it’s absence would detract from the value of the whole

Answer 51

Principle of contribution

Question 52

Principal asserting that when several similar commodities goods or services are available, the one with the lowest price will attract the greatest demand and widest distribution value of a replacement property is dictated by the value of an equally desirable sub substitute property

Answer 52

Principle of substitution

Question 53

Term used in appraisal to refer to real estate, real property or personal property. Property implant appraisal property often refers to the real estate of which the item being appraised is a part.

Answer 53

Property

Question 54

General term for values that are recognized by or a crew to the general public public interest value is often associated with property held or sought by a government agency and is derived from intangible, ecosystems and recreation values that private markets may not recognize

Answer 54

Public interest value

Question 55

Amount determined by a court or other entity and levied against the defendant as punishment for wrongful acts and to discourage similar behavior

Answer 55

Punitive damages

Question 57

Data that are descriptive relating to qualities such as plant health site conditions, and management history

Answer 57

Qualitative data

Question 58

Data that are readily measured or have natural order or ranking

Answer 58

Quantitative data

Question 59

Physical land and appurtenances attached to the land, including the land things that are naturally part of the land and things that are attached to the land by people native or installed trees and landscaping are real estate

Answer 59

Real estate

Question 60

Act of estimating the cost or value of real estate

Answer 60

Real estate appraisal

Question 61

All the interests, benefits and rights accruing to the owner of real estate otherwise described as the bundle of rights. simply put the legal interest in real estate

Answer 61

Real property

Question 62

Part of the overall appraisal process that involves review of the data and the resolution of disparate indications of value or cost into a meaningful defensible conclusion

Answer 62

Reconciliation

Question 63

Mathematical method for quantifying, whether there is a statistically significant relationship between one and more independent variables, and a particular dependent variable maybe used to predict diameter breast height from stump diameter, or to define how property value is affected by the presence of trees

Answer 63

Regression analysis

Question 64

The cost to replace the landscape item with an item or items having equivalent utility it may, or may not include depreciation from benefits, function, or utility previously referred to as “cost of cure“

Answer 64

Replacement cost

Question 65

Cost to produce an exact or nearly exact replica of a land landscape item

Answer 65

Reproduction cost

Question 66

Market in which small quantities of goods and services are exchanged for money

Answer 66

Retail

Question 67

Full price that a consumer or end user should expect to pay

Answer 67

Retail price

Question 68

Legal rights to passage or conveyance from one point to another across one or more parcels of land

Answer 68

Right of way ROW

Question 70

1. Established or widely recognized authority of acceptable performance. 2. Document established by consensus or government agency that provides rules, guidelines or characteristics for activities or results.

Answer 70

Standard

Question 71

Value specified in a statute or law

Answer 71

Statutory value

Question 72

Value of standing timber to be sold into local timber markets generally applied to volume considered a type of market value

Answer 72

Stumpage value

Question 73

Excess in the capacity or quality of a structure or structural component that does not add value or functional utility to an object or property

Answer 73

Superadequacy

Question 74

Cost extrapolation technique based on extrapolating the cost of nursery grown tree up to the size of the subject tree being appraised

Answer 74

Trunk formula technique

Question 75

Usefulness or benefits, provided by an item giving rise to demand for it

Answer 75

Utility

Question 76

Actor process of developing an opinion of value interchangeable with appraisal

Answer 76

Valuation

Question 77

Monetary worth of a property, good, or service to buyers and sellers at a given point in time expectation of present worth of future benefits, economic value is created by scarcity, restricting supply and utility enhancing demand

Answer 77

Value

Question 78

Market in which a discounted price is generally paid for goods and services

Answer 78

Wholesale market

Question 79

Idea that an items value can be demonstrated empirically and inferentially by how much someone is willing to pay to obtain preserve or protect. It can be applied to both market and lawn market evaluation.

Answer 79

Willingness to pay

Question 81

Substitute item that provides equivalent, utility, benefits, or function rather than the cost to produce an exact replica

Answer 81

Functional replacement