QUESTIONS When fully amortizing loans call for equal periodic payments over the life of the loan they are known as O adjustable rate mortgages O early payment mortgages O interest-only mortgages O level-payment mortgages QUESTION 6 4 While there is no specific number of comparables that is required for every appraisal assignment, how many comparable sales are considered adequate as long as the properties are very similar to the subject property O One Three Five O Ten QUESTION 7 The NPV valuation type allows for uneven cashflows throughout the investment lifecycle. True False QUESTION 8 This table shows outstanding loan payments throughout the cycle of a loan: O Amortization Schedule O Payment Schedule General Ledger O Statement of Cash Flows QUESTION 9 While there are several conventional approaches used to estimate the market value of real estate, which of the following is typically considered the most reliable approach? Income approach (NPV) Sales comparison approach O Cost approach O Investment approach QUESTION 10 Which of the following measures is considered the fundamental determinate of market value for income-producing properties? O Net operating income O Potential gross income Operating expenses O Capital expenditures QUESTION 11 Given the following information, determine the value of having an additional bathroom. Assume that the comparable properties are similar in all other attributes besides those listed in the table below. Comparable 1 Comparable 2 Comparable 3 Comparable 4 Time Sold Today 1 Year Ago Today Today Bathrooms 1 1 2 2 Size 3500 sq.ft 3000 sq.ft 3500 sq.ft 3000 sq. ft. Sale Price $150,000 140,000 $160,000 $156,000 $4000 $6000 $10000 $16000