1.Once all of the comparables have been adjusted the appraiser simply averages the best 3 to get a final value: A. True B. False 2.The three forms of depreciation are: A. labor, capital and management. B. curable, incurable and age-life. C. physical, economic and social. D. physical, functional and external obsolescence. 3.A parcel is listed on the Assessors records as being .48 of an acre, how many square feet is the parcel A. 20,908.80 B. not enough information to determine C. 24,393.60 D. 307.2 4.The four stages of the life cycle of a market area are: A. stability, decline, rejuvenation, equilibrium. B. growth, stability, decline, revitalization. C. rejuvenation, stability, decline, equilibrium. D. growth, decline, equilibrium, stability. 5.The first step in the valuation process is to: A. define the problem. B. collect relevant market data. C. define the scope of work. D. apply the cost approach, the sales comparison approach, then the income approach. 6.The method that results in the most accurate cost estimate is the A. index method. B. unit-in-place method. C. quantity survey method. D. square-foot method. 7.In the income capitalization approach, property value is treated as a function of A. sale prices of comparable properties. B. net operating income. C. depreciation. D. original construction cost. 8. In using the sales comparison approach, the appraiser finds that in terms of location sale #1 is superior to the subject while the subject is superior to sale #2. The correct procedure would be to adjust: A. sale #1 down and sale #2 up. B. sale #1 up and sale #2 down. C. both sales down to the subject property. D. both sales up to the subject 9.Which of the following properties would be best valued using a cost approach? A. office building. B. manufactured home. C. museum. D. single family residence. 10.What is the best method for valuing land? A. extraction. B. cost approach. C. sales comparison approach. D. allocation. 11.The value of adjustments to be made in the sales comparison approach can be determined using A. cost comparison analysis. B. paired sales analysis. C. income capitalization. D. regression analysis. 12.Land plus improvements that make it ready for use, including streets and utilities is: A. improved land. B. on-site improvements. C. site. D. finished land. 13.The value increase that occurs by combining one or more parcels into one though assemblage is? A. plottage B. partial interest value. C. reconciliation. D. excess land. 14.A vacant lot 100 feet by 140 feet sold for $24,500. What is the selling price per square foot? A $1.75 B. $1..00 C. $1.40 D. $1.25 15.Which type of value is used for tax purposes? A. liquidation value B. assessed value C. none of the above D. salvage value