Question

8. What is the standard deviation?

A. measure of the difference between the highest and lowest variates.

B. measures how far the average variate differs from the mean.

C. measure of differences between the individual variate and the entire population.

D. measure of how widely individual variates in a population vary.

13. An appraiser should be

A. objective.

B. consulted only in sales transactions.

C. compensated based on the determined value of the property.

D. a party to a transaction.

14. Real estate includes which of the following?

A. Anything appurtenant to the land.

B. Crops

C. Anything left on the land

D. Personal property

15. A counteroffer to an offer to purchase real estate means that

A. the original offer is considered rejected.

B. there is no offer on the table.

C. no commission needs to be paid to the real estate agent(s).

D. the original offer is provisionally accepted.

16. Which one of the following is not an element that affects real estate value?

A. Cost

B. Scarcity

C. Transferability

D. Demand

Answer 1

8) What is Standard Deviation? - B

B It is a measure of how far the average variates differ from the mean

13) An Appraiser should be Objective (he should not be influenced by personal feelings or opinions) - A

14) Real estate include Anything appurtenant to the land - A - Appurtenant to land means anything attached to the land

15) A counteroffer to an offer to purchase real estate means that the original offer is considered rejected. - A - When an offer is made and the other person makes a counter offer it implies the second party has not accepted the offer but made another fresh offer to the first party

16) Which one of the following is not an element that affects real estate value - A -Cost

The rest 3 Scarcity, Transferability and demand affects the real estate value of a property