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Question 1 reset

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In a adjustment grid model exercise assignment of weightages to factors is best done on the basis of:

Relative importance of factors to the local people

Relative importance to the valuer

Valuer’s intuition and knowledge

Valuer’s judgement of value

Question 2 reset

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Size, shape, plot area, frontage and depth, vista, orientation, soil type, topography etc. are characteristics of land, are __________ factors that affect the value of a subject land.

legal

cultural

physical

economic

Question 3 reset

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Which method of valuation is best used to estimate fair market value of land of large size on the basis of sale of smaller plots?

Adjustment grid method

Hypothetical plotting method

Hedonic sales

Belting method

Question 4 reset

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In its simplest form, the residual method yields the maximum purchase of a site as __________

Expected price of the developed property –(expected development costs + allowance to cover risk and profit)

Expected income from property – development cost

Expected cost of development + profits

expected development costs + allowance to cover risk and profit

Question 5 reset

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Asset which has become outdated mainly due to the planning and designing being unsuitable for present day requirement of the user is an example of:

technological obsolescence

economic obsolescence

functional obsolescence

excess depreciation due to wear and tear

Question 6 reset

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Which of the following is true with reference to reproduction cost, under cost approach of valuation of immovable properties?

It is not derived using cost inflation index

It is derived with same utility

It is derived with different material of construction

It is derived with the same material of construction

Question 7 reset

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Which of the following approach-property combination is not a practical valuation possibility?

Income capitalization approach – house on lease

Sales comparison approach - Owner occupied

Cost approach –Public school

Income capitalization approach – owner occupied bungalow

Question 8 reset

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Which of the following statements is true in relation to obligation of insured on notification of a claim?

To defend the insurer

To indemnify the insurer

To investigate and settle potentially covered claim

Ensure liability for the damage is covered by the policy

Question 9 reset

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Section 247(2) of the Companies Act 2013, any valuation undertaken should not be carried out using a method that is _______.

an internationally accepted valuation methodology

adopted by any valuation professional organisation

specified by Reserve Bank of India, Securities and Exchange Board of India or any other statutory regulatory body

customized to client needs

Question 10 reset

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Which of the following statement is not true with reference to fair value measurement under Ind AS 113?

Fair value represents an exit price and is not an entry price

Fair value is market based measurement and not an entity specific measurement

Estimation of fair value based on Highest and best use premise

Fair value measurement is adjusted for transaction costs

Question 11 reset

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Valuer may generally be invited under following capacity in Court:

to cross examine the valuer of the other side

to take the examination in chief of valuer of the other side

to question the advocate of the other side

to appear as an expert witness in court

Question 12 reset

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The Supreme Court observed that this value is “unaffected by the special needs of a particular purchaser” in __________ case.

R.C. Cooper Vs. Union of India (1970)

CWT Vs. P.N. Sikand (1977)

Wenger & Co. Vs. DVO (1978)

Jawajee Nagnathan Vs. Revenue Divisional Officer (1994)

Question 13 reset

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In which case did the Supreme Court hold that the factor can be discounted by making deduction by way of allowances at an appropriate rate ranging approximately between 20% to 50%, while deriving land rate of large plot of land from sale instances of small plot of land.

Chimanlal Hargovindas Vs. Special Land Acquisition Officer (1988)

CED Vs. Radhadevi Jalan (1968)

CIT Vs. Ashima Sinha (1979)

CIT Vs. Anupkumar Kapoor & others (1980)

Question 14 reset

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Which of the following tasks are not covered within the scope of Valuers’ functions?

To advise individual clients and corporate firms on effective strategies for buying properties

To verify revenue

To conduct marketing work to make the property attractive to potential purchasers

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