31.Market rent as used in the income approach to valuation refers to: A. an uneconomic rate that a property is burdened with. B. what a property's lease documents specify. C. the current and typical rate that a property could command. D. what a retail grocery store is contracted to pay in rent. 32.What ratio results when the sales price of a property is divided by its gross monthly unfurnished rental? A. Gross rent multiplier B. Rent coverage ratio C. Net operating income D. Operating sales ratio 33.In using the sales comparison approach, the appraiser finds that in terms of condition sale #2 is superior to the subject and the location of sale #1 is superior to the subject. The correct procedure would be to adjust: A. both sales up to the subject property. B. sale #1 up and sale #2 down. C. both sales down to the subject property. D. sale #1 down and sale #2 up. 34.The tests for a fixture to be called real property do not include A. the method of attachment B. the agreement of the parties. C. the cost of the item. D. the intention of the person who placed the item on the land. 35.Market Value is defined as: the most probable price paid for a property exposed to the market for a sufficient time to produce a buyer ready, willing and able to purchase the property given that all parties are knowledgeable about the property and the transaction is an arms length transaction. A. list price. B. offering price. C. asking price. 36.Which of the following properties would be best valued using a sales comparison approach? A. church. B. race track. C. none of the above. D. high-rise condominium unit. 37.Most appraisals are based on the subject's property's A. historical use. B. tax basis. C. highest and best use. D. certification of value. 38.Which of the following statements best describes the final value estimate? A. It is always the value set by the sales comparison approach, since this is the most reliable approach. B. It is an opinion of the appraiser supported by documentation and analysis. C. It is an average of the three approaches to value. D. It is the narrowing of the range of value estimates. 39.Land is described by natural or artificial boundaries in the A. metes and bounds method. B. perimeter system. C. lot and block system. D. rectangular survey system. 40.When it comes to market area analysis, an appraiser must be: A. careful not to offend anyone. B. conservative. C. liberal. D. objective. 41.Which of the following normally would not be considered part of the real estate? A. Foundation walls B. Area rugs C. Trees D. Fences 42.In the sales comparison approach, if the comparable has an amenity that the subject does not have, the following adjustment is made: A. the comparable is adjusted up. B. the subject is adjusted up. C. the comparable is adjusted down. D. the subject is adjusted down. 43.The technique of direct capitalization is employed by the appraiser primarily in which of the following approaches? A. gross rent multiplier. B. income. C. sales comparison. D. cost. 44.Methods of site valuation include all of the following except A. subdivision development. B. allocation. C. quantity survey. D. sales comparison. 45.The boundaries of a neighborhood could include all of the following except: A. ethnic homogeneity. B. man-made physical boundaries. C. economic homogeneity. D. natural physical barriers