McKissock Basic Appraisal Principles I
Final Exam Quiz Solved 100% Correct
150 - ANSWER-The current number of appraisal education hours required for Licensed
Residential Appraiser applicants is ______ hours.
16.5 ft - ANSWER-In property measurement, 1 rod or 25 links, which measures
_______ feet.
2 - ANSWER-Reporting requirements for real property appraisers are set forth in
STANDARD ___ of the Uniform Standards of Professional Appraisal Practice.
200 - ANSWER-The current number of appraisal education hours required for Certified
Residential Appraiser applicants is ______ hours.
300 - ANSWER-The current number of appraisal education hours required for Certified
General Appraiser applicants is ______ hours.
4320 - ANSWER-A rancher owns six full sections plus three quarter sections. How
many acres is that?
66 - ANSWER-In property measurement, a chain contains 100 links, which measures
_______ feet.
660 ft - ANSWER-In property measurement, 1 furlong or 10 chains, which measures
_______ feet.
75 - ANSWER-Under the current education criteria, an applicant for Appraiser Trainee
must have completed ___ creditable class hours as specified in the required Core
Curriculum Appendix.
a type of property, a specific property - ANSWER-A market analysis examines
____________ , where a marketability analysis examines ______________.
access right of way - ANSWER-Which of the following would NOT be considered a
negative easement?
adjustable rate - ANSWER-A mortgage in which the interest rate may move up or down,
following a specified schedule or in accordance with the movements of a standard or
index to which it is tied" is the definition of a(n) ______________ mortgage.
Appraisal Qualifications Board - ANSWER-The ________ is responsible for establishing
criteria for individuals to become real property appraisers.
, Appraisal Subcommittee - ANSWER-The _______ maintains a national registry of state
certified and licensed appraisers who are eligible to perform appraisals in federally
related transactions.
ASB - ANSWER-The ______ publishes "other communications" in the form of Advisory
Opinions and USPAP FAQs.
ASC - ANSWER-The ______ maintains a National Registry of appraisers.
ASC (Appraisal Subcommittee) - ANSWER-The _____ has oversight authority over
state appraisal boards.
borrowing, saving - ANSWER-Low interest rates encourage __________, while high
interest rates encourage _________.
both Certified Residential and Certified General - ANSWER-Under the current qualifying
education criteria, there are college-level course requirements for __________
classifications.
building codes, zoning, environmental regulations - ANSWER-Police power would
include which of the following
capital - ANSWER-"The interaction of buyers and sellers who trade long-term or
intermediate-term money instruments" is the definition of the _____________ market.
Census.gov - ANSWER-The website with the largest amount of demographics
information is
client - ANSWER-The party or parties who engage, by employment or contract, an
appraiser in a specific assignment" is the definition of
consideration, in writing and signed, and lawful objective - ANSWER-Which of the below
is a requirement of a valid real estate contract?
contribution - ANSWER-When estimating the value of a fireplace in a single-family
home, the most important principle is the principle of
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?
deed restriction and mechanic's lien - ANSWER-Which two of the following would be
private restrictions on property rights?
Final Exam Quiz Solved 100% Correct
150 - ANSWER-The current number of appraisal education hours required for Licensed
Residential Appraiser applicants is ______ hours.
16.5 ft - ANSWER-In property measurement, 1 rod or 25 links, which measures
_______ feet.
2 - ANSWER-Reporting requirements for real property appraisers are set forth in
STANDARD ___ of the Uniform Standards of Professional Appraisal Practice.
200 - ANSWER-The current number of appraisal education hours required for Certified
Residential Appraiser applicants is ______ hours.
300 - ANSWER-The current number of appraisal education hours required for Certified
General Appraiser applicants is ______ hours.
4320 - ANSWER-A rancher owns six full sections plus three quarter sections. How
many acres is that?
66 - ANSWER-In property measurement, a chain contains 100 links, which measures
_______ feet.
660 ft - ANSWER-In property measurement, 1 furlong or 10 chains, which measures
_______ feet.
75 - ANSWER-Under the current education criteria, an applicant for Appraiser Trainee
must have completed ___ creditable class hours as specified in the required Core
Curriculum Appendix.
a type of property, a specific property - ANSWER-A market analysis examines
____________ , where a marketability analysis examines ______________.
access right of way - ANSWER-Which of the following would NOT be considered a
negative easement?
adjustable rate - ANSWER-A mortgage in which the interest rate may move up or down,
following a specified schedule or in accordance with the movements of a standard or
index to which it is tied" is the definition of a(n) ______________ mortgage.
Appraisal Qualifications Board - ANSWER-The ________ is responsible for establishing
criteria for individuals to become real property appraisers.
, Appraisal Subcommittee - ANSWER-The _______ maintains a national registry of state
certified and licensed appraisers who are eligible to perform appraisals in federally
related transactions.
ASB - ANSWER-The ______ publishes "other communications" in the form of Advisory
Opinions and USPAP FAQs.
ASC - ANSWER-The ______ maintains a National Registry of appraisers.
ASC (Appraisal Subcommittee) - ANSWER-The _____ has oversight authority over
state appraisal boards.
borrowing, saving - ANSWER-Low interest rates encourage __________, while high
interest rates encourage _________.
both Certified Residential and Certified General - ANSWER-Under the current qualifying
education criteria, there are college-level course requirements for __________
classifications.
building codes, zoning, environmental regulations - ANSWER-Police power would
include which of the following
capital - ANSWER-"The interaction of buyers and sellers who trade long-term or
intermediate-term money instruments" is the definition of the _____________ market.
Census.gov - ANSWER-The website with the largest amount of demographics
information is
client - ANSWER-The party or parties who engage, by employment or contract, an
appraiser in a specific assignment" is the definition of
consideration, in writing and signed, and lawful objective - ANSWER-Which of the below
is a requirement of a valid real estate contract?
contribution - ANSWER-When estimating the value of a fireplace in a single-family
home, the most important principle is the principle of
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?
deed restriction and mechanic's lien - ANSWER-Which two of the following would be
private restrictions on property rights?
