1. Appraiser Baker is working on an appraisal for 1982 Bellefair Road. Baker is trying to determine the price trend in the neighbourhood in order to make the neccessary time adjustments to comparable sold properties. He has come across in the area that sold nine months ago for $342,500 and resold two dasy ago for $324,000. Based on these two sales, what is the monthly percentage that Baker would use when calcuating time adjustment (rounded to 2 decimal places)?
a. +0.63%
b. +0.71%
c. -0.60%
d. -0.68%
2. Appraiser Chan, in attempting to determine the current value of a vacant site in order to complete an appraisal, has found two simialr vacant sies that have sold. If site values have been increasing by 0.75% per month, what time adjustments should be made for the two lots if one sold three months ago for $171,000 and the other sold for $168,000 five months ago.
a. -$5,130 AND -$8,480
b. +3,847 and +$6,300
c. -$3,847 snd -$3,780
d. +$6412 and +6,300
3. Sometimes an Agency realtionship is created even if the agent and the principle DO NOT enter into an express agrement.
Which of the following statements best describes the creation of an agency relationship without a prior express agreement?
a. The conduct of the agent creates a legal obligation on the priniciple to ratify the agency relationship
b. The agent gives advice to the principle and performs acts to protect the principle's interests and the prinicple responds by relying on the agent's effort.
c. The agent and the principle enter into a written agreement that the principle will use the services of the agent
d. If the agent implies to the others that the agent represents the principle, the principle must acknowledge that agency relationshio has been created.