Valuation Terms Quiz

Which approach is also known as the comparative or comparable Sales Approach?

What is the estimated amount for which a property should exchange between a willing buyer and a willing seller in an arm's-length transaction after proper marketing?

What is the measure of the differences between the discounted revenues and the costs in a discounted cash flow analysis?

What is a loss in value due to a decrease in the usefulness of property caused by various factors?

Which term refers to the cost of creating a virtual replica of an existing structure, employing the same design, features, and materials?

What is the estimated amount that an entity would currently obtain from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life?

Which approach to value considers the sales of similar properties and establishes a value estimate by processes involving comparison?

What is a table of market values of real properties within a local government unit, prepared by assessors?

Which of the following best defines Tax Mapping?

What is the definition of Useful Life?

What is the definition of Valuation?

What is the definition of Zoning?

Which one of the following best describes Lease Interest?

What are Leasehold Improvements also known as?

Which of the following is considered machinery for RPt purposes?

Which one of the following best defines the Principle of Substitution?

Which one of the following is true about Real Estate?

Which one of the following best defines Remaining Economic Life?

Which one of the following best defines Replacement Cost (New)?

Which of the following statements accurately describes how to compute the value of a triangular lot with its base on the street?

How should the value of a triangular lot with its apex on the street be computed?

How should the value of a trapezoidal lot be computed?