McKissock Basic Appraisal
Principles I Final Exam Quiz
fully solved & verified for
accuracy(latest updated
version)
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.
estimate, opinion - answer Modern definitions of the word
"appraisal" have replaced the word _______ with ________.
Principles I Final Exam Quiz
fully solved & verified for
accuracy(latest updated
version)
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.
estimate, opinion - answer Modern definitions of the word
"appraisal" have replaced the word _______ with ________.
