RLE 83 Final Prep Ch 10

RLE 83 Final Prep Ch 10

Assessment

Flashcard

Other

University

Practice Problem

Hard

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14 questions

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1.

FLASHCARD QUESTION

Front

The price a property would most likely bring if it were exposed for sale in the open market for a reasonable period of time is the property’s

Back

market value.

2.

FLASHCARD QUESTION

Front

On a financial statement, liabilities include all of the following items except: loan balances, unpaid taxes, insurance premiums due, notes receivable.

Back

notes receivable.

3.

FLASHCARD QUESTION

Front

Net worth is described as

Back

assets less liabilities.

4.

FLASHCARD QUESTION

Front

In determining the net income for an apartment property, all of the following expenses would be deducted from the gross income except: interest charges, property taxes, management fees, insurance premiums.

Back

interest charges.

5.

FLASHCARD QUESTION

Front

The market value for a specific property is the price it would bring if it were exposed for sale

Back

in the open market for a reasonable period of time.

6.

FLASHCARD QUESTION

Front

Which method is used to estimate a property’s value from an examination of other similar properties’ sale prices?

Back

Direct sales comparison approach

7.

FLASHCARD QUESTION

Front

In the direct sales comparison approach, a comp that sold two years ago would probably not be used because of

Back

changing economic circumstances.

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