Basic Appraisal Principles Mckissock
Exam Questions and Answers 100%
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promote and maintain, public trust - ✔✔The intent of USPAP is to ____________ a high
level of __________ in professional appraisal practice.
wage levels - ✔✔Which of the following would NOT be considered a governmental
influence on value?
employment rates - ✔✔Which would NOT be considered factors in supply analysis?
escheat - ✔✔Which of these would be considered a public restriction on real property
ownership?
3000 - ✔✔The number of required experience hours for Certified General Appraiser
applicants is ____ hours.
Property Rights - ✔✔Real estate includes all of the following EXCEPT
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, Imperfect - ✔✔The real property market is generally classified as a(n) __________
market.
Salvage - ✔✔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.
market area - ✔✔The geographic region from which a majority of demand comes and
which the majority of the competition is located" is the definition of
leased fee interest - ✔✔The ownership interest held by the lessor, which includes the
right to receive the contract rent specified in the lease plus the reversionary right when
the lease expires" is the definition of
leasehold estate - ✔✔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
cooperative - ✔✔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?
Price - ✔✔USPAP defines _________ as the amount asked, offered, or paid for a
property.
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Exam Questions and Answers 100%
Pass
promote and maintain, public trust - ✔✔The intent of USPAP is to ____________ a high
level of __________ in professional appraisal practice.
wage levels - ✔✔Which of the following would NOT be considered a governmental
influence on value?
employment rates - ✔✔Which would NOT be considered factors in supply analysis?
escheat - ✔✔Which of these would be considered a public restriction on real property
ownership?
3000 - ✔✔The number of required experience hours for Certified General Appraiser
applicants is ____ hours.
Property Rights - ✔✔Real estate includes all of the following EXCEPT
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, Imperfect - ✔✔The real property market is generally classified as a(n) __________
market.
Salvage - ✔✔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.
market area - ✔✔The geographic region from which a majority of demand comes and
which the majority of the competition is located" is the definition of
leased fee interest - ✔✔The ownership interest held by the lessor, which includes the
right to receive the contract rent specified in the lease plus the reversionary right when
the lease expires" is the definition of
leasehold estate - ✔✔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
cooperative - ✔✔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?
Price - ✔✔USPAP defines _________ as the amount asked, offered, or paid for a
property.
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