50. A buyer will settle on a property on October 15. The buyar is assuning the seller's mortgage at the rate. The seller has paid the October 1 payment, and the interest is paid in arrears. The balance ($ 310,000). What proration is necessary? A. ($ 710.42) to the seller B. ($710.42) to the buyer C. ($ 1,420.83 ) to the seller D. ($ 1,420.83 ) to the buyer Questions 51-59 are related to content from Section 8 of the Student Manual, "Vaication of textbook readings (Chapters 15 & 16). 51. Which of the following is NOT an example of functional obsolescence? A. a master bedroom with a tiny closet B. a toxic soil condition in the back yard C. a fifteen year old roof D. a five bedroom home with one bath 52. Which of the following is NOT considered by an appraiser? A. property rights B. the local economy C. the future appreciation potential of the property D. the purpose of the appraisal 53. Weighting is most characteristic of which approach to value? A. Cost B. Market data C. Capitalization D. Valuation 54. Which of the following statements is NOT true about appraisals? A. Appraisers do not create value. B. If possible, all three approaches to value are used. C. Pending transactions (the purchase agreement is signed and the transaction is awaiting settlem D. Different appraisers may create differing opinions of value. 55. In appraising, depreciation is considered when using which approach to value? A. cost approach B. market data approach C. income approach D. after tax approach 56. Having real property attain its greatest economic advantage is referred by an appralser as A. highest and best use. B. economic gain. C. supply and demand saximum production agents.
50. A buyer will settle on a property on October 15. The buyar is assuning the seller's mortgage at the rate. The seller has paid the October 1 payment, and the interest is paid in arrears. The balance ($ 310,000). What proration is necessary? A. ($ 710.42) to the seller B. ($710.42) to the buyer C. ($ 1,420.83 ) to the seller D. ($ 1,420.83 ) to the buyer Questions 51-59 are related to content from Section 8 of the Student Manual, "Vaication of textbook readings (Chapters 15 & 16). 51. Which of the following is NOT an example of functional obsolescence? A. a master bedroom with a tiny closet B. a toxic soil condition in the back yard C. a fifteen year old roof D. a five bedroom home with one bath 52. Which of the following is NOT considered by an appraiser? A. property rights B. the local economy C. the future appreciation potential of the property D. the purpose of the appraisal 53. Weighting is most characteristic of which approach to value? A. Cost B. Market data C. Capitalization D. Valuation 54. Which of the following statements is NOT true about appraisals? A. Appraisers do not create value. B. If possible, all three approaches to value are used. C. Pending transactions (the purchase agreement is signed and the transaction is awaiting settlem D. Different appraisers may create differing opinions of value. 55. In appraising, depreciation is considered when using which approach to value? A. cost approach B. market data approach C. income approach D. after tax approach 56. Having real property attain its greatest economic advantage is referred by an appralser as A. highest and best use. B. economic gain. C. supply and demand saximum production agents.
Chapter13: Property Transact Ions: Determination Of Gain Or Loss, Basis Considerations, And Nontaxable Exchanges
Section: Chapter Questions
Problem 3DQ
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Transcribed Image Text:50. A buyer will settle on a property on October 15. The buyar is assuning the seller's mortgage at the rate. The seller has
paid the October 1 payment, and the interest is paid in arrears. The balance ($ 310,000). What proration is necessary? A. ($
710.42) to the seller B. ($710.42) to the buyer C. ($ 1,420.83 ) to the seller D. ($1,420.83 ) to the buyer Questions 51-59
are related to content from Section 8 of the Student Manual, "Vaication of textbook readings (Chapters 15 & 16). 51. Which
of the following is NOT an example of functional obsolescence? A. a master bedroom with a tiny closet B. a toxic soil
condition in the back yard C. a fifteen year old roof D. a five bedroom home with one bath 52. Which of the following is NOT
considered by an appraiser? A. property rights B. the local economy C. the future appreciation potential of the property D.
the purpose of the appraisal 53. Weighting is most characteristic of which approach to value? A. Cost B. Market data C.
Capitalization D. Valuation 54. Which of the following statements is NOT true about appraisals? A. Appraisers do not create
value. B. If possible, all three approaches to value are used. C. Pending transactions (the purchase agreement is signed and
the transaction is awaiting settlem D. Different appraisers may create differing opinions of value. 55. In appraising,
depreciation is considered when using which approach to value? A. cost approach B. market data approach C. income
approach D. after tax approach 56. Having real property attain its greatest economic advantage is referred by an appralser
as A. highest and best use. B. economic gain. C. supply and demand saximum production agents.
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