BUSN 221

Please help me with my study sheet:Which of the following terms refers to the stages that a neighborhood goes through over time?A.a. Growth cycleB.b. RevitalizationD.d. RedevelopmentAnswer Key: CQuestion 2 of 502.0/ 2.0 PointsThe value principle that states that two adjacent parcels of land combined into one larger parcel could have a greater value than the two parcels valued separately is calledA.a. regression.B.b. anticipation.D.d. progression.Answer Key: CQuestion 3 of 500.0/ 2.0 PointsThe period in which property values are generally at their highest isA.a. growth.C.c. decline.D.d. equilibrium.Question 4 of 500.0/ 2.0 PointsThe term site refers toA.a. a legal description of a plot of land.B.b. land that has been improved.C.c. raw land with no improvements.D.d. land within a certain set of boundaries.Question 5 of 502.0/ 2.0 PointsThe effects of ordinary wear and tear are consideredA.a. physical deterioration.B.b. functional obsolescence.C.c. external obsolescence.D.d. accelerated depreciation.Question 6 of 502.0/ 2.0 PointsFunctional obsolescence could be caused by which of the following?A.a. A worn-out roofB.b. A poor locationC.c. Deferred maintenanceD.d. A ceiling that is too highQuestion 7 of 502.0/ 2.0 PointsA house with four bedrooms and one bathroom is an example ofA.a. physical deterioration. B.b. functional obsolescence.C.c. external obsolescence.D.d. incurable physical deterioration.Question 8 of 502.0/ 2.0 PointsAn expressway is built near a residential neighborhood resulting in very high traffic noise. This is an example ofA.a. physical deterioration.B.b. functional obsolescence. C.c. external obsolescence.D.d. None of the aboveQuestion 9 of 502.0/ 2.0 PointsThe usual pattern of growth, equilibrium and decline may be amplified byA.a. changes in nearby land use.B.b. availability of newer property nearby.C.c. general economic downturn. D.d. All of the aboveQuestion 10 of 502.0/ 2.0 PointsWhich of the following factors would not be important in comparing properties under the sales comparison approach to value?A.a. Size of lotB.b. Number of rooms C.c. Interior decorD.d. Type of constructionQuestion 11 of 502.0/ 2.0 PointsWhich of the following would not be likely to prevent an arm’s-length transaction?A.a. Parent sells the family home to one of the childrenB.b. Corporation buys its transferred employee’s houseC.c. Pending foreclosure necessitates a sale D.d. Owner planning to move up to more expensive houseQuestion 12 of 502.0/ 2.0 PointsWhich of the following would normally not require a site to be valued separately from the structures on it?A.a. Use of the cost approach B.b. Use of the sales comparison approachC.c. Use of the building residual techniqueD.d. Assessment for ad valorem taxation purposesQuestion 13 of 502.0/ 2.0 PointsResidential property in an area rezoned for commercial use is an example of a(n)A.a. conditional use.B.b. illegal use. C.c. nonconforming use.D.d. speculative use.Question 14 of 502.0/ 2.0 PointsLand value of an improved property can be found using theA.a. sales comparison method. B.b. allocation method.C.c. subdivision development method.D.d. land development method.Question 15 of 502.0/ 2.0 PointsWhen a site’s highest and best use is forecast to change in the near future, the present use is considered a(n)A.a. restricted use. B.b. interim use.C.c. speculative holding.D.d. temporary use.Question 16 of 502.0/ 2.0 PointsThe value of all improvements (less depreciation) is subtracted from total sales price to find land value in theA.a. sales comparison method.B.b. allocation method. C.c. abstraction method.D.d. subdivision development method.13/05/20200.8appliedsciences