Mckissock Basic Appraisal Principles I Final Exam Quiz

ASC (Appraisal Subcommittee) - Answer-The _____ has oversight authority over state appraisal boards. consideration, in writing and signed, and lawful objective - Answer-Which of the below is a requirement of a valid real estate contract? capital - Answer-"The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. market study - Answer-An analysis of the market conditions of supply, demand, and pricing for a specific property type in a specific area" is the definition of market - Answer-A gathering of people for the buying and selling of things" is the definition of real estate - Answer-Which of the following types of investments has historically generated the highest return on investment? except property rights - Answer-Real estate includes all of the following EXCEPT Impartiality, objectivity, and independence - Answer-The Conduct Section of the ETHICS RULE states, in part, that an appraiser must perform assignments with except assessors - Answer-All of the following could be participants in a real property market EXCEPT EDI, PDF - Answer-Twenty years ago, most appraisal reports that were sent electronically were sent using _____ technology; today, most appraisals are sent electronically using a _______ format. not enough information to determine - Answer-A property is owned as tenancy in severalty. How many owners are there? cooperative - Answer-What type of property ownership is characterized by the purchase of shares of stock in a corporation, which provides a proprietary lease to occupy an apartment unit? executory - Answer-A(n) __________ contract is one that is not been fully performed or completed.