Question: Which of these controls would be used to prevent a neighboring lot owner from violating the recorded deed restrictions in a subdivision?

Answer: Injunction.

Question: How is a homeowner’s total tax bill derived?

Answer: Multiply each district’s tax rate times the taxable value of the owner’s property

Question: An appraiser, using the cost approach method would do which of the following?

Answer: Use replacement cost minus depreciation.

Question: Which principle of value holds that a property can increase or decrease in value in expectation of something in the future?

Answer: Anticipation

Question: What is the fundamental purpose of a building permit?

Answer: To ensure that improvements comply with codes

Question: Functional and economic obsolescence are aspects of

Answer: depreciation.

Question: Which of the following approaches to value figures the land separately from the value of the improvements?

Answer: Cost approach.

Question: A $175,000 house was built next to a $75,000 house. Which of the following principles of value would apply?

Answer: Progression and Regression.

Question: A house is constructed in a neighborhood that is substantially larger than the existing houses. Based on the value principle of ___________________, the larger house’s value will therefore be adversely affected.

Answer: conformity

Question: The depreciation most difficult to remedy would be:

Answer: Economic.