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21 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Choose the wrong answer A- The major provisions of real estate are based on the IRR B- The major provisions of real estate are based on the IVS C- Transparent evaluation requires process description demonstrable and supported by calculations D- Transparency is a basic standard of the red book (Appraisal and Valuation manual) |
A- The major provisions of real estate are based on the IRR |
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What is the consequence if Cap Rate decrease and transaction value remains the same A- the discount rate decrease B- the discount rate increase C- the rent decrease D- the rent increase |
C- the rent decrease |
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Which of the estimate values is used to assess the value of the property on its current use, in case the property is unusual or for which there is no significant market? A- Depreciated replacement cost B- Book value C- Market comparison approach D- Open market Value |
A- Depreciated replacement cost |
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The sum of the net assignable area and the non assignable area corresponds to: A- GOA B- GIA C- NUSF D- EXTW |
C- NUSF : Net Usable Square Foot |
A- Gross outside Area B- Gross internal Area C- Net Usable Square Foot D- Exterior walls |
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The building service area is: A- the sum of all areas on all floors of a building assigned to, or available for, an occupant or specific use B- the sum of all areas on all floors of a building that cannot be occupied or put to use because of structural building features C- The sum of all areas on all floors of a building required for physical access to subdivided spaces, wether physically bounded by partitions or not D- the sum of all areas in all floors of a building used for custodial supplies, janitorial sink rooms, janitorial closets and public rest rooms |
D- the sum of all areas in all floors of a building used for custodial supplies, janitorial sink rooms, janitorial closets and public rest rooms. |
A- Net assignable Area B- Structural area C- Circulation area |
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Choose the wrong sentence A- Transparent evaluations require real estate data updated B- Transparent evaluation require process description demonstrable and supported by calculations, arguments and opinions C- transparency is a basic standard of the red book D- transparent evaluation requires scientific methods of calculation in accordance to ISS standards |
D- transparent evaluation requires scientific methods of calculation in accordance to ISS* standards *IVS |
Quality standard |
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Choose the right answer: GIA = GOA + EXTW NASF = GIA - EXTW NUSF > NASF GOA = BSA + NASF + NUA |
NUSF > NASF Net usable square foot = NASF (net assignable square foot) + Non assignable square foot |
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The internal rate of return (IRR): A- Is the rate that increases the NPV B- is the rate that equals the positive and negative cash flow of a project C- are represented by the difference between revenues (sales or lease) and cost (construction and management) D- is the interest rate of the project |
B- is the rate that equals the positive and negative cash flow of a project |
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What is the consequence if the cap rate increase and rent remains the same A- the market value decrease B- the market value increase C- the discount rate decrease D- the discount rate increase |
A- the market value decrease |
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The estimated realization price: A- is the beat price obtainable for the sale of a property on the date of evaluation, assuming that, prior to the date of evaluation, there had been a reasonable period for the proper marketing of the interest B- corresponds to the sum of money for which the property could be bought and sold, at the moment of the estimate, assuming that both parties act freely, prudently and in an informed manner C- is an opinion, at the time of the evaluation, about the sum of money that can be reasonably expected to obtain, before deduction of the selling costs, at future completion of an unconditional sale of property D- is the interest rate of the project |
C- is an opinion, at the time of the evaluation, about the sum of money that can be reasonably expected to obtain, before deduction of the selling costs, at future completion of an unconditional sale of property |
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Ferrero defines the operational phase as: A- The preparation of the work program that aims to define time, resources, costs and investigation areas where the expert and his colleagues will have to work B- the collection and analysis of relevant data and information, the application of the criteria and evaluation techniques and finally the elaboration of the final results C- the check of results and drafts of the final report with the assignment of probability ratios and temporal validity of the estimated prices (minimum, most likely and maximum) D- the initial phase that identify the estimate purpose |
B- the collection and analysis of relevant data and information, the application of the criteria and evaluation techniques and finally the elaboration of the final results |
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List the three pillars of evaluation A- B- C- |
A- take scientific character B- use the data transparently C- apply methods reproducible and clear with discipline |
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building service area |
The sum of all areas on all floors of a building used for custodial supplies, janitorial sink rooms, janitorial closets and public rest rooms |
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preliminary phase of valuation |
The preparation of the work program that aims to define time, resources, costs and investigation areas where the expert and his colleagues will have to work |
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market value |
The market value corresponds to the sum of money for which the property could be bought and sold |
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Cap rate formula |
Net operating Income (annual rent value)/current market value |
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Replacement cost approach |
The sum of the land value and the cost of rebuilding the properties depreciated in respect to the age, general conditions, ...etc, |
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Front (Term) |
The Net Assignable Square Feet The sum of all areas of all floors of a building assigned to, or available for assignment to, an occupant or specific use. |
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transparency values |
1) up to date data 2) Descriptive skill demonstration, supported by calculations from arguments and opinions. 3) in case of mortgage loans, reliable calculations of the loan value LTV |
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Commercial area is |
The sum of all areas that compose the building we have to evaluate considering some coefficients for building accessories (e.g. balconies, cellars) |
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Cadastral area |
The gross area of the interior walls and perimeter until the middle of those bordering other properties |
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