CGA Property Evaluation & Analysis 2

Question 1

Which depreciation category accounts for a roof that has exceeded its expected useful life?

Accepted Answer

Physical deterioration

Answer

Physical deterioration includes wear and tear or age-related decline such as a roof reaching the end of its useful life.

Question 2

A property's effective age is best described as:

Accepted Answer

The age indicated by the property's condition and utility relative to new construction

Answer

Effective age reflects the property's apparent condition and functional utility rather than its actual chronological age.

Question 3

In the sales comparison approach, a paired sales analysis is used to:

Accepted Answer

Isolate the contribution of a single feature by comparing sales that differ only in that feature

Answer

Paired sales analysis identifies market-supported adjustments by comparing two otherwise identical sales that differ by one characteristic.

Question 4

The term 'plottage' refers to the:

Accepted Answer

Additional value created when two or more parcels are combined into one larger parcel

Answer

Plottage is the increment of value that results from combining contiguous parcels into a single, larger, more useful parcel.

Question 5

When reconciling value indications in a CGA appraisal, the appraiser should:

Accepted Answer

Weight each approach based on data quality, relevance, and applicability to the property type

Answer

Reconciliation requires the appraiser to exercise professional judgment by weighting approaches according to their reliability and applicability to the subject property.

(CGA) Certified General Appraiser Practice Test

(CGA) Certified General Appraiser Practice Test

CGA Property Evaluation & Analysis 2