Compucram test questions and answers 2022 | Graded a
When programs administered by public federal agencies (such as FHA) are amended allowing more buyers to qualify for home purchases and thus boosting the economy, whic
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Compucram test questions and answers 2022 | Graded a
When programs administered by public federal agencies (such as FHA) are amended allowing more buyers to qualify for home purchases and thus boosting the economy, which broad force of value is causing this result? Correct Answer: Governmental
Because there are numerous definitions of market value, USPAP requires an appraiser to do what in an assignment? Correct Answer: Cite the source and definition in your report
A small subdivision contains 12 homes of different floor plans with differing square footage. Using the information provided, what is the standard deviation? 1500, 1485, 1740, 1665, 1575, 1450, 1720, 1695, 1545, 1530, 1770, 1635 Correct Answer: On calculator:
2nd, Data
Enter data in the x value and scroll past Y values
once all is entered, 2nd Stat and make sure it sales 1-valubile or 1-V
Then scroll down
N= total numbers
x= mean
Sx= Standard deviation
ox= Variance
108.97
For the purpose of estimating depreciation via the extraction method, you have utilized Comparable Sale #1, which is a 2,400 sq. ft. home with a two-car, 440 sq. ft. attached garage, having a replacement cost of $85/sq. ft. for gross living area and $18/sq. ft. for the garage area. This property sold for $240,000 and has a chronological age of 10 years. Through your research, the indicated land value is $50,000 and the site improvements have a replacement cost of $25,000. What is the percentage total amount of accrued depreciation indicated by this sale? Correct Answer: Steps.1. Determine Cost
2400 * 85= 204,000
440 * 18= 7,920
Total= 211,920
2. Determine Depreciation Cost
Sale price $240,000 - Land Value $50,000 - Improvements $25,000 =165,000
3. Determine Total Depreciation
$211,920-165,000=46,920
4. Determine Depreciation Percentage
Depreciation $46,920/Cost new $211,920=
An appraiser is considering four adjusted comparables and decides to conclude at the median of the range. The adjusted sale prices are $186,000, $196,000, $173,000, and $169,000. What is the appraiser's value conclusion?
$179,500
$169,000
$173,000
$177,500 Correct Answer:
Research revealed the following rates for rental units in a market. For what will the landlord rent his units if he uses the mode? $580 - $490 - $575 - $580 - $570 Correct Answer: $580
The allocation method for determining site value Correct Answer: Takes a ratio of the land or site value to the total improved value
An appraiser must determine the cost of carpet in a residential dwelling. The areas needing carpet measure 12' x 14', 15.5' x 17.25', and 12.3' x 17.5'. If the carpet must be purchased in full square yards and will cost $14.50 per square yard, and the installation is $1.50 per square foot, what percent of the total cost is for the carpet? Correct Answer: 650.625 sq. ft. To convert square yards to square feet, divide by 9: 650.625 / 9 = 72.291666, or 73 full square yards.
$650.63 * $1.50= $975.95 Labor
$73*$14.50= $1058.50 Carpet
Total=2034.45
1058.50/2034.45= .52%
Once a neighborhood has reached the phase of stability in its life cycle Correct Answer: It could remain in that phase indefinitely
What or who most influences the appraiser's judgment regarding the appropriateness of the type of value being sought in an assignment?C Correct Answer:
What is the highest and best use of a rural property that has 300 lineal feet of frontage and a depth of 300 lineal feet, when zoning requires a site to be at least two acres for the development of a single-family home? Correct Answer: utilize the site as one home site, since the site cannot legally be split
Regardless of the desire for a property in a particular market, if there is not general purchase ability linked to the desire within the market, the market is lacking
effective demand.
social force.
utility.
conformity. Correct Answer:
Using the number set 51.72 - 34.42 - 22.57 - 22.46 - 48.37 - 44.11, what is the standard deviation? Correct Answer: 12.82
A client's building will need a new roof in 15 years. The estimated cost at that time will be $24,000. If the client can invest at 11% annually, how much should the client deposit each month to have the required funds at the end of 15 years? (Round your answer to the nearest penny.) Correct Answer:
As the depth of the lot increases, the value per front footage Correct Answer: Increases at a decreasing rate.
With a fixed frontage, as the depth of the lot increases, the overall value of the lot increases. However, as the lot extends back, the value of the land farther back becomes less and the increase in overall value becomes smaller. Therefore, the front foot rate will increase, but as the lot extends farther back, the amount of increase in rate will decrease.
Research revealed the following rates for rental units in a market. For what will the landlord rent his units if he uses the median? $580 - $490 - $575 - $580 - $570 Correct Answer: $575
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