Real Estate Appraisal Exam with Verified Solutions
1. the monetary relationship between value
properties and those who buy
2. Value and Price/Cost ARE or ARE Are NOT
NOT the same thing?
3. Why does an appraiser reconstruct So you get a clear understanding of
the income statement of rental prop- the interest rate
erty?
4. When you "go to the market for a cap 10%
rate", what is your interest/return??
5. What does it take to be a profession- Education and continuing education
al?
6. Who determines what a professional A board; you have to take a test
is?
7. Appraiser's background consists of... Education, knowledge, experience,
judgement
8. an appraiser must properly identify Competency Rule
the problem to be addressed and have
the knowledge and experience in the
property type and location to com-
plete the assignment competently.
9. What is the role of the appraiser and If property is contaminated, value
contaminated property? will decrease.
If it was cleaned up, it could return a
higher amt of money each year
10. What is the "value as collateral & gen- if it's not usable or properly cared
eration of income" aspect regarding for, you can't generate more value
the role of appraiser & contaminated or build schools/other buildings on it
property? and create more value
11. How did Gary Earnes appraise the Cost of barn & value of
horse farm? land(acreage)
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1. the monetary relationship between value
properties and those who buy
2. Value and Price/Cost ARE or ARE Are NOT
NOT the same thing?
3. Why does an appraiser reconstruct So you get a clear understanding of
the income statement of rental prop- the interest rate
erty?
4. When you "go to the market for a cap 10%
rate", what is your interest/return??
5. What does it take to be a profession- Education and continuing education
al?
6. Who determines what a professional A board; you have to take a test
is?
7. Appraiser's background consists of... Education, knowledge, experience,
judgement
8. an appraiser must properly identify Competency Rule
the problem to be addressed and have
the knowledge and experience in the
property type and location to com-
plete the assignment competently.
9. What is the role of the appraiser and If property is contaminated, value
contaminated property? will decrease.
If it was cleaned up, it could return a
higher amt of money each year
10. What is the "value as collateral & gen- if it's not usable or properly cared
eration of income" aspect regarding for, you can't generate more value
the role of appraiser & contaminated or build schools/other buildings on it
property? and create more value
11. How did Gary Earnes appraise the Cost of barn & value of
horse farm? land(acreage)
1/4
