Chapter 18 Flashcards
1
Q
Which of these unit indicators was a new addition to the March 2005 version of the SRIPAR? Sale price per square foot of GBA Sale price per unit Sale price per room Sale price per bedroom
A
sale price per bedroom
2
Q
What does SRIPAR stand for?
Small Residential Income Property Appraisal Report
Subsidized Residential Income Property Appraisal Report
Supervised Rented Income Property Annual Report
Small Reconciled Income Property Analysis Report
A
Small Residential Income Property Appraisal Report
3
Q
What is the form number for the Fannie Mae SRIPAR form? 1120 1025 1125 1020
A
1025
4
Q
In the current SRIPAR (Mar 05) you must reconcile a minimum of \_\_\_\_\_\_\_ value indicators. 3 4 6 7
A
7
5
Q
Adjustments for quality, condition and energy efficiency can be made in the \_\_\_\_\_\_\_\_\_ of the SRIPAR. Sales comparison grid Cost comparison grid Income comparison grid Reconciliation section
A
sales comparison grid
6
Q
In the current SRIPAR (Mar 05) unit indicators are developed from \_\_\_\_\_\_\_\_\_\_\_ figures. Gross only Adjusted only Both gross and adjusted Neither
A
both gross and adjusted
7
Q
A property sold for $140,000. It had two 5 room apartments, two 4 room apartments and a 3 room studio apartment. What did it sell for per room? $6,667 $6.892 $7,258 $8,431
A
2 X 5 = 10 rooms. 2 X 4 = 8 rooms. 10 + 8 + 3 = 21 rooms. $140,000 ÷ 21 = $6,667
8
Q
Where do you address the strengths and weaknesses of each approach of the SRIPAR form? In the Income Approach section In the sales comparison grid In the URAR portion In the reconciliation section
A
in the reconciliation section
9
Q
Income and value are \_\_\_\_\_\_\_ and move in the same direction. Independent Interdependent Self sufficient Opposites
A
interdepndent
10
Q
The Income Approach is required by Fannie Mae for properties appraised on the \_\_\_\_\_\_\_\_\_\_\_\_\_\_ form. 1004 1025 1004C 2055
A
1025
11
Q
A property sold for $125,000. It had two 5 room apartments, one 4 room apartment and a 3 room studio apartment. What did it sell for per room? $7,353 $7,892 $8,258 $6,667
A
$7,353
12
Q
Which technique is commonly used for estimating the value of small residential income properties? Net income multiplier Estimated income multiplier Gross Rent Multiplier Discounted Cash Flow analysis
A
Gross Rent Multiplier
13
Q
Which of the following indicators was on the old SRIPAR form? Sale price per square foot of GBA Sale price per unit Sale price per room All of the above were on the old form
A
all of the above were on the old form
