1. The most common definition of appraisal is:

a. an opinion of value.

b. an absolute amount.

c. an uneducated guess.

d. all of the above.

2. Eminent domain is the power of the government to:

a. take private property for public use.

b. arrest spies.

c. set lending rates.

d. none of the above.

3. What approach assumes that the value of improved property is indicated by the value of the site, plus the cost of improvements, minus depreciation?

a. Cost approach

b. Income approach

c. Gross multiplier

d. All of the above

4. With the sales comparison approach, a propertys value is compared to:

a. the value of other similar properties in the market.

b. the value of unimproved properties in adjoining neighborhoods.

c. the cost of tearing down the structure.

d. sales in foreign markets.