Appraisal Exam II Keyword List

1. letter of transmittal

2. accrued depreciation

3. annual loan constant

4. Assessed value

5. assessment roll

6. building residual technique

7. capitalization rates

8. comparable sales adjustments

9. cost approach

10. debt service ratio

11. disclose confidential factual data

12. discount rate

13. discounted cash flow

14. discounting

15. distinction between curable and incurable

16. documentary stamps

17. dollar adjustments

18. economic obsolescence

19. excess land

20. external obsolescence

21. externalities

22. functional obsolescence

23. gross income multiplier

24. gross rent multiplier

25. highest and best use

26. income capitalization approach

27. indicated capitalization rate

28. Insurance value

29. Investment value

30. land residual technique

31. market extraction of adjustments

32. market extraction of time adjustment

33. Market value

34. maximum age of a comparable sale

35. methods of site valuation

36. net income

37. operating expenses

38. outstanding balance percentage

39. overall capitalization rate

40. percentage adjustments

41. percentage of the loan paid off

42. physical deterioration

43. plottage

44. point estimate

45. present value of a lump sum

46. price paid

47. principle of balance

48. principle of substitution

49. property card

50. replacement cost

51. sales-comparison approach

52. sequence of adjustments

53. simple mortgage-equity

54. supply and demand

55. units of comparison

56. Value in use