Certified Apartment Portfolio Supervisor (CAPS) Practice Exam - Module 2

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Prepare for the CAPS Exam with a comprehensive study of Module 2. Utilize our practice resources filled with flashcards, multiple choice questions, and thorough explanations to ensure your success!

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Which type of value is primarily influenced by emotional attachment?

Market value
Replacement value
Investment value
Emotional/sentimental value

The correct answer is: Emotional/sentimental value

The type of value that is primarily influenced by emotional attachment is emotional/sentimental value. This form of value is derived from personal feelings, experiences, and memories associated with a particular item or property. Emotional value goes beyond monetary or market considerations; it reflects the significance that an individual may place on something based solely on their emotional experiences. For instance, a family home may hold sentimental value to a person due to the memories created there, making it worth more to them than what it might fetch on the market. This attachment can lead individuals to place a higher value on the property than the actual market or replacement value would suggest. While market value reflects what a property could sell for based on supply and demand, replacement value concerns the cost of replacing the property with a similar one. Investment value refers to the value perceived by an investor, often depending on potential returns and market conditions. However, none of these values capture the personal and emotional attachment that defines sentimental value.