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Question 1
An office property generates first-year NOI of $500,000 and is expected to grow at 3% annually. If the discount rate (yield rate) is 9%, what value does the constant-growth (Gordon) model indicate?
Correct Answer:
$$8,333,333
Question 2
Which statement BEST distinguishes the discount rate (yield rate, Y) from the overall capitalization rate (R0)?
Correct Answer:
The discount rate is applied to a stream of forecast cash flows over time, while the overall cap rate converts a single year's stabilized income into value
Question 3
In a 10-year DCF for a commercial property, the appraiser projects Year-11 NOI of $1,200,000 and applies a terminal cap rate of 7.5%. Selling expenses are 3% of gross reversion. What is the net reversion at end of Year 10?
Correct Answer:
$$15,520,000
Question 4
The Inwood premise of yield capitalization assumes that the reinvestment rate for recaptured capital is:
Correct Answer:
Equal to the discount rate (yield rate)
Question 5
Hoskold premise capitalization is most appropriately used when the income-producing asset:
Correct Answer:
Is a wasting asset (e.g., mineral rights, timber, a quarry) where the safe sinking-fund rate is appropriate for capital recovery
Question 1
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About this Exam

Prepare with the MAI Practice Questions - MAI Appraisal Institute Designation Exam practice quiz. This question bank includes 100 questions covering rate, appraiser, value, uspap, and rent. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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MAI Practice Questions - MAI Appraisal Institute Designation Exam

This practice set contains 100 questions from the matching question bank and focuses on rate, appraiser, value, uspap, and rent. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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