Basic Appraisal Principles Final Exam (A+ Guaranteed) Sales Comparison Approach McKissock Class (Accurate 100%) A+ Graded. Principles of USPAP McKissock (100% Accurate Answers) McKissock - General Report Writing and Case Studies (100% Correct Answers) Mckissock basic appraisal principles (100% Accu...
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What is USPAP? correct answers Uniform Standards of Professional Appraisal Practice Why was USPAP developed? correct answers To promote and maintain a high level of public trust as well as confidence in professional appraisal practice What are the benefits of USPAP? correct answers 1) Provides...
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Add to cartWhat is USPAP? correct answers Uniform Standards of Professional Appraisal Practice Why was USPAP developed? correct answers To promote and maintain a high level of public trust as well as confidence in professional appraisal practice What are the benefits of USPAP? correct answers 1) Provides...
In order to determine the appropriate scope of work, the appraiser must ________ the problem to be solved. correct answers Identify Appraisers have broad _________ and significant _________ in determining the appropriate scope of work in an assignment. correct answers Flexibility, responsibility ...
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Add to cartIn order to determine the appropriate scope of work, the appraiser must ________ the problem to be solved. correct answers Identify Appraisers have broad _________ and significant _________ in determining the appropriate scope of work in an assignment. correct answers Flexibility, responsibility ...
True or False: An appraiser's client must always directly engage the appraiser. correct answers False A step-by-step procedure that can be applied to any type of appraisal assignment is correct answers The valuation process True or False: The effective date of the valuation must be the date o...
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Add to cartTrue or False: An appraiser's client must always directly engage the appraiser. correct answers False A step-by-step procedure that can be applied to any type of appraisal assignment is correct answers The valuation process True or False: The effective date of the valuation must be the date o...
In a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? correct answers there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a busin...
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Add to cartIn a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? correct answers there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a busin...
promote and maintain, public trust correct answers The intent of USPAP is to ____________ a high level of __________ in professional appraisal practice. wage levels correct answers Which of the following would NOT be considered a governmental influence on value? employment rates correct answer...
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Add to cartpromote and maintain, public trust correct answers The intent of USPAP is to ____________ a high level of __________ in professional appraisal practice. wage levels correct answers Which of the following would NOT be considered a governmental influence on value? employment rates correct answer...
basic economic principles that apply to all kinds of real property appraisal: correct answers • Anticipation • Change • Supply and demand • Competition • Substitution • Contribution • Externalities • Balance • Conformity • Progression and regression • Opportunity cost...
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Add to cartbasic economic principles that apply to all kinds of real property appraisal: correct answers • Anticipation • Change • Supply and demand • Competition • Substitution • Contribution • Externalities • Balance • Conformity • Progression and regression • Opportunity cost...
A property has a cost new of $350,000. It has an effective age of 20 years and a total expected economic life of 65 years. There are curable items totaling $45,000. If they are cured, it will reduce the effective age to 15 years. What is the value of the improvements on a modified age-life basis, be...
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Add to cartA property has a cost new of $350,000. It has an effective age of 20 years and a total expected economic life of 65 years. There are curable items totaling $45,000. If they are cured, it will reduce the effective age to 15 years. What is the value of the improvements on a modified age-life basis, be...
Valuation Process correct answers Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process correct answers 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use...
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Add to cartValuation Process correct answers Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process correct answers 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use...
Valuation Process correct answers Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process correct answers 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use...
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Add to cartValuation Process correct answers Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process correct answers 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use...
Valuation process correct answers A systematic procedure used in the valuation of real property. Client correct answers The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem correct answers Identification and location o...
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Add to cartValuation process correct answers A systematic procedure used in the valuation of real property. Client correct answers The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem correct answers Identification and location o...
In law, the solid surface on the earth, as distinguished from water, is a definition of _____________. Land Site Situs Land rights correct answers Land Site is ___________, but land is ___________. Raw, improved Eternal, temporary Economic, physical Improved, raw correct answers Improved...
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Add to cartIn law, the solid surface on the earth, as distinguished from water, is a definition of _____________. Land Site Situs Land rights correct answers Land Site is ___________, but land is ___________. Raw, improved Eternal, temporary Economic, physical Improved, raw correct answers Improved...
Common Situations when appraisers are asked to conclude a separate land value: correct answers -Making site adjustments in Sales Comparison Approach -Determining HBU -Analyzing land to improvement ratios -Estimating depreciation -Performing appraisals for insurance purposes -Appraising agricult...
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Add to cartCommon Situations when appraisers are asked to conclude a separate land value: correct answers -Making site adjustments in Sales Comparison Approach -Determining HBU -Analyzing land to improvement ratios -Estimating depreciation -Performing appraisals for insurance purposes -Appraising agricult...
_________ is one of the four agents of production in economic theory. correct answers Land Which is NOT a true statement? correct answers The "Land Appraisal Report" is a Fannie Mae form. Land, as a physical entity, includes all of the following components EXCEPT: correct answers Property ri...
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Add to cart_________ is one of the four agents of production in economic theory. correct answers Land Which is NOT a true statement? correct answers The "Land Appraisal Report" is a Fannie Mae form. Land, as a physical entity, includes all of the following components EXCEPT: correct answers Property ri...
A single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was $1,200. What is the GRM indicated by this sale? correct answers 105.0 A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The current cost index is 201.8....
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Add to cartA single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was $1,200. What is the GRM indicated by this sale? correct answers 105.0 A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The current cost index is 201.8....
An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? correct answers The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appr...
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Add to cartAn appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? correct answers The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appr...
Appraisal Standards Board correct answers exercises all authority and power over the subject, style, content, and substance of USPAP grant deed correct answers deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser correct answers One who is expec...
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Add to cartAppraisal Standards Board correct answers exercises all authority and power over the subject, style, content, and substance of USPAP grant deed correct answers deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser correct answers One who is expec...
ASC (Appraisal Subcommittee) correct answers The _____ has oversight authority over state appraisal boards. consideration, in writing and signed, and lawful objective correct answers Which of the below is a requirement of a valid real estate contract? capital correct answers "The interaction ...
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Add to cartASC (Appraisal Subcommittee) correct answers The _____ has oversight authority over state appraisal boards. consideration, in writing and signed, and lawful objective correct answers Which of the below is a requirement of a valid real estate contract? capital correct answers "The interaction ...
grant deed correct answers deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser correct answers One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report correct answers a...
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Add to cartgrant deed correct answers deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser correct answers One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report correct answers a...
one advantage of networking as a way of marketing yourself is that networking is the ONLY correct answers way to market yourself for free what acronym used in cell phone contact lists should be place in front of the name of the person to be contacted when something goes wrong? correct answers I.C...
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Add to cartone advantage of networking as a way of marketing yourself is that networking is the ONLY correct answers way to market yourself for free what acronym used in cell phone contact lists should be place in front of the name of the person to be contacted when something goes wrong? correct answers I.C...
"A document or a clause in a document in which the borrower accepts responsibility for the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt correct answers mortgage note "The earth's surface, both land and water, and anything that is attached to it whether b...
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Add to cart"A document or a clause in a document in which the borrower accepts responsibility for the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt correct answers mortgage note "The earth's surface, both land and water, and anything that is attached to it whether b...
Appraisal correct answers "(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report correct answers any communication, written or oral, of an appr...
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Add to cartAppraisal correct answers "(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report correct answers any communication, written or oral, of an appr...
The Appraisal Practices Board (ADB) correct answers Which independent board was created within The Appraisal Foundation in 2010? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP correct answers Which statement is TRUE regarding The Appraisal Foundation and...
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Add to cartThe Appraisal Practices Board (ADB) correct answers Which independent board was created within The Appraisal Foundation in 2010? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP correct answers Which statement is TRUE regarding The Appraisal Foundation and...
What is created in the mind of an individual or market participant? correct answers Value What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? correct answers Desire As the term applies to appraisal, transferability refers to the numb...
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Add to cartWhat is created in the mind of an individual or market participant? correct answers Value What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? correct answers Desire As the term applies to appraisal, transferability refers to the numb...
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