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1
Q

The process by which a value indication is derived in the Sales Comparison Approach. May employ quantitative or qualitative techniques, either separately or in combination

A

comparative analysis

2
Q

Based on numbers and results in either dollar or percentage amounts.

A

quantitative analysis

3
Q

Used for elements that cannot be given a numerical value.

A

Qualitative

4
Q

There are various techniques we may employ when using quantitative adjustments. They include:

A
Paired Data Analysis
Graphic Analysis
Trend Analysis
Statistical Analysis
Cost Analysis
Capitalization of Rent Differences
5
Q

Comparative analysis may employ quantitative analysis and qualitative analysis
Separately only
Together only
Separately or together
Only in the appraisal of non-residential properties

A

separately or together

6
Q
Qualitative analysis is used for elements that
Defy description
Are too far apart
Can’t be ranked
Cannot be given a numerical value
A

cannot be given a numerical value

7
Q
The process by which a value indication is derived in the Sales Comparison Approach is called
Comparative Analysis
Quantitative Analysis
Qualitative Analysis
Highest and Best Use analysis
A

comparative analysis

8
Q

A quantitative technique used to identify and measure adjustments to the sale prices or rents of comparable properties; to apply this technique, sales or rental data on nearly identical properties is analyzed to isolate and estimate a single characteristic’s effect on value or rent. Often referred to as paired sales analysis

A

paired data analysis

9
Q

Comparable 1 sells for $185,000 and has a fireplace. Comparable 2 was built by the same builder, is right across the street and is similar in all aspects except that it has no fireplace. It sells for $180,000.

A

$5,000

$185,000 - $180,000 = $5,000

10
Q

Analyzing a sale and re-sale of a property is another type of paired data analysis. Here’s an example. A home sells in January for $180,000 and sells again in November for $189,000. When the home resold it had not been improved at all. The only change was the time. What is the indicated adjustment for time or change in market conditions?

A

1.05

$189,000 ÷ $180,000 = 1.05

11
Q

Quantitative techniques used to identify and measure adjustments to the sale prices of comparable properties; a variant of statistical analysis in which an appraiser interprets graphically displayed data visually or through curve fit analysis. Graphs can also be used to support and exhibit value trends for comparison elements in qualitative analysis

A

graphic analysis

12
Q

“A quantitative technique used to identify and measure trends in the sale prices of comparable properties; useful when sales data on highly comparable properties is lacking, but a broad database on properties with less similar characteristics is available. Market sensitivity is investigated by testing various factors that influence sale prices

A

trend anaylsis

13
Q

In the Sales Comparison Approach, a quantitative adjustment technique in which adjustments are based on cost indicators, such as depreciated building cost, cost to cure, or permit fees

A

cost analysis

14
Q
"A quantitative technique used to identify and measure trends in the sale prices of comparable properties; useful when sales data on highly comparable properties is lacking, but a broad database on properties with less similar characteristics is available. Market sensitivity is investigated by testing various factors that influence sale prices" is the definition of \_\_\_\_\_\_\_\_\_\_\_ analysis.
Ranking
Cost
Graphic
Trend
A

trend

15
Q

A property sold for $250,000 and then sold later in the same year for $237,000. What was its percentage of decline?

  1. 2%
  2. 0%
  3. 2%
  4. 7%
A

5.2%

237,000 ÷ 250,000 = .948 or 94.8%.

1.00 - .948 = .052 or 5.2%

16
Q
An analysis technique in which nearly identical properties are analyzed to isolate a single characteristic's effect on value or rent is called
Economic base analysis
Paired data analysis
Ranking Analysis
Trend Analysis
A

paired data analysis

17
Q

The process of accounting for differences (such as between comparable properties and the subject property) that are not quantified; may be combined with quantitative techniques

A

qualitative analysis

18
Q

Qualitative analysis techniques would include:

A

relative comparison analysis
ranking analysis
personal interviews

19
Q

A qualitative technique for analyzing comparable sales; used to determine whether the characteristics of a comparable property are inferior, superior, or equal to those of the subject property. Relative comparison analysis is similar to paired data analysis, but quantitative adjustments are not derived”

A

relative comparison analysis

20
Q

A qualitative technique for analyzing comparable sales; a variant of Relative Comparison Analysis in which comparable sales are ranked in descending or ascending order of desirability and each is analyzed to determine its position relative
to the subject.

A

ranking analysis

21
Q
Which of the following is NOT a form of qualitative analysis?
Ranking analysis
Graphic Analysis
Relative Comparison Analysis
Interviews
A

graphic analysis

22
Q
"The process of accounting for differences (such as between comparable properties and the subject property) that are not quantified; may be combined with quantitative analysis" is the definition of \_\_\_\_\_\_\_\_\_\_\_\_ techniques.
Economic
Relative Comparison
Graphic
Qualitative
A

qualitative

23
Q
The procedure in which we employ just plusses and minuses in sales comparison is called \_\_\_\_\_\_\_\_\_\_\_\_\_\_ analysis.
Gross Rent Multiplier
Graphic
Relative Comparison
Paired Data
A

relative comparison

24
Q
"A numerical (dollar or percentage) adjustment to the indicated value of a comparable property to account for the effect of a difference between two properties on value” is the definition of
Quantitative adjustments
Qualitative adjustments
Intermediation
Comparative analysis
A

quantitative adjustments

25
Q
Which of the following is NOT a form of qualitative analysis?
Ranking Analysis
Graphic Analysis
Relative Comparison Analysis
Interviews
A

graphic analysis

26
Q
The procedure in the Sales Comparison Approach in which we employ just pluses and minuses is called \_\_\_\_\_\_\_\_\_\_\_\_\_\_ analysis.
Ranking
Graphic
Relative comparison
Paired data
A

relative comparison

27
Q
Which is NOT a form of quantitative analysis?
Paired data analysis
Graphic Analysis
Ranking Analysis
Cost Analysis
A

ranking analysis

28
Q
Qualitative analysis is used for elements that
Defy description
Are too far apart
Can't be ranked
Cannot be given a numerical value
A

cannot be given numerical value

29
Q
"In the Sales Comparison Approach, a quantitative adjustment technique in which adjustments are based on cost indicators, such as depreciated building cost, cost to cure, or permit fees” is the definition of
Cost Analysis
Construction Analysis
Cost to Cure Analysis
Cost Matrix
A

cost analysis

30
Q
An analysis technique in which nearly identical properties are analyzed to isolate a single characteristic's effect on value or rent is called
Economic base analysis
Paired data analysis
Ranking Analysis
Trend Analysis
A

1.5%

$245,000 ÷ $225,000 = 1.09 or 9%. 9% ÷ 6 = 1.5% per month.

31
Q
Comparative analysis may employ quantitative analysis and qualitative analysis
Separately only
Together only
Separately or together
Only in series
A

seperately or together

32
Q
"Quantitative techniques used to identify and measure adjustments to the sale prices of comparable properties; a variant of statistical analysis in which an appraiser interprets graphically displayed data visually or through curve fit analysis” is the definition of
Qualitative analysis
Curvilinear Analysis
Graphic Analysis
Quantitative analysis
A

graphic analysis

33
Q
Comparative analysis may employ
Qualitative analysis only
Quantitative analysis only
Both quantitative and qualitative analysis separately or together
Paired data analysis only
A

Both quantitative and qualitative analysis separately or together

34
Q
"A quantitative technique used to identify and measure adjustments to the sale prices of comparable properties; useful when sales data on highly comparable properties are lacking, but a broad database on properties with less similar characteristics is available" is the definition of \_\_\_\_\_\_\_\_\_\_\_ analysis.
Ranking
Cost
Graphic
Trend
A

trend

35
Q
Which of the following is FALSE, concerning quantitative analysis?
It is based on numbers
It cannot be given a numerical value
It may result in a dollar amount
It may result in a percentage amount
A

it cannot be given a numerical value

36
Q
An analysis technique in which nearly identical properties are analyzed to isolate a single characteristic's effect on value or rent is called
Economic base analysis
Paired data analysis
Ranking Analysis
Trend Analysis
A

paired data analysis

37
Q
The process by which a value indication is derived in the Sales Comparison Approach is called
Comparative Analysis
Quantitative analysis
Qualitative analysis
Highest and Best Use analysis
A

comparative analysis

38
Q
"In the Sales Comparison Approach, a quantitative adjustment technique in which adjustments are based on cost indicators, such as depreciated building cost, cost to cure, or permit fees” is the definition of
Cost Analysis
Construction Analysis
Cost to Cure Analysis
Cost Matrix
A

cost analysis