QUESTION 13

1. Which type of value is the focus of most real property appraisal assignments?

   		Use value
   		Value of the going concern
   		Investment value
   		Market value

1 points

QUESTION 14

1. Which of the following is the typical life cycle of a market area?

   		Development, growth, stability, and decline
   		Growth, stability, decline, and revitalization
   		Development, growth, decline, and revitalization
   		Farming, platting, construction, and demolition

1 points

QUESTION 15

1. An appraisal that is based on a fact known to be false but assumed to be true for the purposes of the analysis is based on a(n) _____.

   		Extraordinary Assumption
   		Rational Assumption
   		Unusual Condition
   		Hypothetical Condition

1 points

QUESTION 16

1. The subject property is a 2.25-acre, non-corner site with 210 feet of road frontage. A single-family home is located on the far east side of the site. The zoning requires one acre of land and a minimum of 100 feet of road frontage, which means that this parcel could be divided into two legal buildable parcels with the house on one site and the other site remaining vacant. This is an example of

   		Surplus land
   		Excess land
   		A zoning violation
   		A grandfathered use