FIN 459 Exam Review

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Across
  1. 1. Cost to build an exact duplicate
  2. 4. Appraisal delivers this, not fact
  3. 5. Depreciation due to poor design or layout
  4. 6. Process of developing an opinion
  5. 8. Estimating costs by building components
  6. 9. Loss in value due to age or wear
  7. 13. Expected resale value
  8. 15. Final conclusion of the appraisal
  9. 17. Ratio of NOI to value
  10. 19. Buyers won’t pay more for alternatives
Down
  1. 2. Cost to build a structure with equal utility
  2. 3. Highest and best use test involving profit
  3. 7. One of the depreciation methods
  4. 10. Acceptable value spread
  5. 11. What investors actually buy
  6. 12. Most subjective step in appraisal
  7. 14. Written communication of appraisal results
  8. 16. Land is always valued as if
  9. 18. Required investor return
  10. 19. Describing work performed