Chapter 7 Questions And Answers Exam Questions (37 Terms) With Verified Definitions Updated 2024

When estimating the value of property using the cost approach, all of the following would be considered by the appraiser EXCEPT the: A. loss of value due to uncollected delinquent rent. B. estimated loss attributable to an outdated heating system. C. quality of materials and workmanship in the original structure. D. excessive amount of traffic noise outside the property. {Ans: A. Loss of value due to uncollected delinquent rent}The sales comparison approach to value would be most important when estimating, the value of a(n): A. existing residence. B. apartment building. C. retail location. D. new residence. {Ans: A. Existing residence}When appraising a commercial property, the appraiser is most concerned with the: A. accrued depreciation on the property. B. income generated by the property. C. sales prices of comparable properties. D. total debt service on the property. {Ans: B. Income generated by the property}Which of the following would be classified as external depreciation? A. A leaking roof that needs to be completely replaced B. Poorly maintained properties in the neighborhood C. A poorly designed floor plan that could be modified D. Convenient access to schools and recreational facilities {Ans: B. Poorly maintained properties in the neighborhood}To find