Texas Appraisals SAE Exam Flashcards

Texas Appraisals SAE Exam Flashcards What type of window consists of one or more panes that either move up and down or side to side in tracks?Sliding Which of the following best describes what an appraisal is?It's an opinion of value ___ is allowed to perform appraisals on any type of real estate A certified general real property appraiser How many approaches to value do appraisers generally use?Three The four stages of the neighborhood life cycle are growth, equilibrium, decline, and what?Rejuvenation What's the name of a process that estimates future income and then applies a discount rate in order to provide an investment's present value?Yield capitalizationThe describes the process of yield capitalization, which is often used to value complex commercial properties.An office building with 15 tenants sold for $5 million. Your estimates show that the property can earn $400,000 in annual income from all sources. What is the GIM 12.5x Maria is an appraiser performing an income-based appraisal. How will she use operating statement ratios?To test the validity of the numbers used for income and expenses in the appraisal report.Which of the following analyzes net operating income (NOI) for a single year, and is used the property's income isn't expected to vary much over time?Direct CapitalizationThe Direct capitalization method converts a single year's expected income (or an annual average) in to a market value. This is the expected return on investment the property is capable of producing in a

single year: the first year of ownership.

A lot with dimensions of 560 feet x 600 feet sold for $195,000. What was the cost per foot front?$348 per front foot Which property type presents the most potential drawbacks to using the cost approach to determine value?Residential What's 2/5 x 5/61/3 Which site valuation method uses a percentage of an improved property's total value to arrive at a market value for the land?Allocation method In which section of the URAR will you find a grid with quantitative information about the subject property alongside information about three comparable properties?Sales Comparison approachA grid in the Sales comparison approach section of the URAR provides quantitative information about the subject property and three comparable.When building value is known, but the land value is unknown, the __ technique can be used.Land residualThe land residual technique calculates how much residual income is earned by the land, and provides an estimate of land value.As part of completing an appraisal using the cost approach method, what must appraisers do?Complete the cost approach section of the URAR form.The ___ is required to perform appraisals under the supervision of an appraiser who has qualifications

consistent with the type of property under appraisal.Appraiser Tranee

Which of these is a colorless, odorless, radioactive gas that is released when uranium decays RadonRadon is a radioactive gas released when uranium decays.Real property rights include the right ___ of enjoyment Which part of the cost approach equation is considered the most difficult part to estimate accurately?Accrued depreciation Maggie ,an appraiser, has been asked to do an appraisal on a specific property that has been put up for sale. Maggie is identifying fixtures in the back yard. WHich of the following will she mark as a fixture in her report?Built-in sandbox What are the general influencers of real property value?Physical, Geographic, economic, social, govermental Real estate, plus all of the interests, benefits, and rights included in ownership, is also known as _____ Real Property The appraiser independence requirements protect which party or parties?The appraiser the lender and the consumer Hannah's seller client has asked her to give her a visual breakdown of the latest market trends in the area.Hannah's trying to decide how to graphically represent this data. Upon what should Hannah base her decision?They type of graphic that will best convey the data Bianca wants to buy a cooperative, but she's unsure that she can afford it. With a cooperative, her share of mortgage interest and real estate taxes will be ____.Deductible on her personal income tax returnsAs the resident in a cooperative, her share of mortgage interest and real estate taxes is deductible on personal income tax returns.Which statement best describes the method used to reconcile the value found for a property from the three appraisal approaches?The appraiser may weigh one or two approaches more heavily than the others, as appropriate for the property type.Which fraction is improper?1/85/87/89/89/8 Sandra creates a trust to convey her assets to her children.Her brother, James, is placed in charge of making sure the terms of the trust are carried out. in this example, Sandra is the TrustorThe Trustor is the person who makes the trust.Appraisers use two ways to capitalize net operating income (NOI) into a value using residual income. These are The building residual technique and the land residual technique The US census Bureau is a good source of what type of data needed by appraisers?General DataThe Census Bureau provides demographic information that appraisers need to understand social trends in the market.What is 25% of 250?62.5 What is the primary difference between reproduction cost and replacement cost?Reproduction cost is estimated using an exact duplicate of the subject property versus a similar property.Reproductions cost is the cost to construct an exact duplicate of the subject property at the current costs as of the appraisal date, whereas replacement cost is the current cost to construct a building with the same usefulness as the subject building.What's the most common form of property ownership and therefore the one on which most appraisals would be

based?Fee Simple