BASIC APPRAISAL PRINCIPLES MCKISSOCK
LEARNING ONLINE EXAM WITH ACTUAL QUESTIONS
AND CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS(ALL WHAT YOU NEED) LATEST EDITION
A client has requested that an appraiser value a property that is improved with an old dilapidated
single family home, and asks the appraiser not to mention the existence of the home in the
appraisal report. Which statement is TRUE regarding this situation? - (answers)It would be
misleading if the appraiser did not disclose the existence of this structure in the report.
"The price expected for a whole property, e.g., a house, or a part of a property, e.g., a plumbing
fixture, that is removed from the premises usually for use elsewhere" is the definition of
____________ value. - (answers)Salvage
Reporting requirements for real property appraisers are set forth in STANDARD ___ of the
Uniform Standards of Professional Appraisal Practice. - (answers)2
The appraisal standards and qualification criteria that are published by The Appraisal Foundation
achieve legal authority by adoption, citation or implementation by - (answers)Government
agencies with the power to regulate or administrate
The ________ is responsible for establishing criteria for individuals to become real property
appraisers - (answers)Appraiser Qualification Board
, The principle of supply and demand states that the price of a commodity, good, or service varies
__________, but not necessarily _____________, with demand. - (answers)directly,
proportionately
A lot contains .56 acres. It sells for $35,000. How much did it sell for per square foot? -
(answers)$1.43
The _______ maintains a national registry of state certified and licensed appraisers who are
eligible to perform appraisals in federally related transactions. - (answers)Appraisal
Subcommittee
When estimating the value of a fireplace in a single-family home, the most important principle is
the principle of - (answers)Contribution
"The right held by the lessee to use and occupy real estate for a stated term and under the
conditions specified in the lease" is the definition of - (answers)leasehold estate
You want to buy a house for $243,500. You can get a loan for 90% of value. You will also have
to pay 2.75 points on the loan. How much will you have to deliver to closing to cover both the
down payment and the loan points? - (answers)$30,376.63
The federal financial institutions regulatory agencies directly involved in fair lending include all
of the following EXCEPT - (answers)ASB
LEARNING ONLINE EXAM WITH ACTUAL QUESTIONS
AND CORRECT VERIFIED ANSWERS/ALREADY
GRADED A+ 100% GUARANTEED TO PASS
CONCEPTS(ALL WHAT YOU NEED) LATEST EDITION
A client has requested that an appraiser value a property that is improved with an old dilapidated
single family home, and asks the appraiser not to mention the existence of the home in the
appraisal report. Which statement is TRUE regarding this situation? - (answers)It would be
misleading if the appraiser did not disclose the existence of this structure in the report.
"The price expected for a whole property, e.g., a house, or a part of a property, e.g., a plumbing
fixture, that is removed from the premises usually for use elsewhere" is the definition of
____________ value. - (answers)Salvage
Reporting requirements for real property appraisers are set forth in STANDARD ___ of the
Uniform Standards of Professional Appraisal Practice. - (answers)2
The appraisal standards and qualification criteria that are published by The Appraisal Foundation
achieve legal authority by adoption, citation or implementation by - (answers)Government
agencies with the power to regulate or administrate
The ________ is responsible for establishing criteria for individuals to become real property
appraisers - (answers)Appraiser Qualification Board
, The principle of supply and demand states that the price of a commodity, good, or service varies
__________, but not necessarily _____________, with demand. - (answers)directly,
proportionately
A lot contains .56 acres. It sells for $35,000. How much did it sell for per square foot? -
(answers)$1.43
The _______ maintains a national registry of state certified and licensed appraisers who are
eligible to perform appraisals in federally related transactions. - (answers)Appraisal
Subcommittee
When estimating the value of a fireplace in a single-family home, the most important principle is
the principle of - (answers)Contribution
"The right held by the lessee to use and occupy real estate for a stated term and under the
conditions specified in the lease" is the definition of - (answers)leasehold estate
You want to buy a house for $243,500. You can get a loan for 90% of value. You will also have
to pay 2.75 points on the loan. How much will you have to deliver to closing to cover both the
down payment and the loan points? - (answers)$30,376.63
The federal financial institutions regulatory agencies directly involved in fair lending include all
of the following EXCEPT - (answers)ASB
