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Question 1
A commercial property has a net passing income of $120,000 per annum. The current market capitalisation rate for similar properties in the area is 6.0%. If the valuer applies a vacancy and collection loss allowance of 5% to the net passing income prior to capitalisation, what is the indicated capital value of the property?
Correct Answer:
$$1,900,000
Question 2
A developer plans to subdivide a block of land in Selwyn into 10 residential lots. The expected gross realisation per lot is $400,000 including GST (at 15%). The total development costs (civil works, consents, fees) are $1,500,000. Finance costs are estimated at $120,000, and the developer requires a profit and risk margin of 20% on the gross realisation (excluding GST). What is the residual value of the land (excluding GST)?
Correct Answer:
$$1,162,609
Question 3
An industrial cold store building in Hamilton has a gross external area of 1,500 square metres. The replacement construction cost is estimated at $3,000 per square metre. The land value is assessed at $1,500,000. The building is 12 years old, has a total economic life of 40 years, and suffers from $200,000 of functional obsolescence. What is the property value using the Depreciated Replacement Cost (DRC) approach?
Correct Answer:
$$4,450,000
Question 4
A retail property has net passing rent of $160,000 per annum, but the current market net rent is assessed at $200,000 per annum. The lease is set to expire in exactly 3 years. The valuer uses the Term and Reversion method, with a term yield of 6.5% and a reversion yield of 7.5%. (The 3-year Years' Purchase / annuity factor at 6.5% is 2.6485, and the present value factor deferring the reversion 3 years at 7.5% is 0.8050.) What is the capital value of the property?
Correct Answer:
$$2,570,427
Question 5
A commercial building in Dunedin is purchased for $3,200,000. It has a net passing income of $192,000 per annum. The market net rent is assessed at $224,000 per annum. What are the passing (initial) yield and the reversionary yield for this property?
Correct Answer:
Passing yield: 6.00%; Reversionary yield: 7.00%
Question 1
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About this Exam

Prepare with the NZ Registered Valuer Exam Practice Questions - NZ Valuers Registration Board Registration Examination (New Zealand) Exam practice quiz. This question bank includes 100 questions covering valuer, property, value, land, and commercial. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NZ Registered Valuer Exam Practice Questions - NZ Valuers Registration Board Registration Examination (New Zealand) Exam

This practice set contains 100 questions from the matching question bank and focuses on valuer, property, value, land, and commercial. 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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