McKissock - Basic Appraisal Principles- GA Ch.1 WITH VERIFIED SOLUTIONS ALREADY GRADED A+

The current requirements for real property appraiser licensing and certification went into effect on July 1, 2011 July 1, 2015 May 1, 2018 January 1, 2012 May 1, 2018 True or False: Every state's appraiser certification examination is different. False Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:00 Full screen A licensed or certified appraiser must take the 7-hour USPAP Update course every year every 2 years every 3 years only at the time of initial licensure or certification every 2 years An applicant who wishes to become a Certified Residential appraiser must have accumulated a minimum of ______ hours of appraisal education. 75 120 150 200 200 True or False: Some state agencies employ full-time staff appraisers. True True or False: A state licensed residential appraiser may not supervise an appraisal trainee. True The appraisal of what type of property is more likely to be affected by local neighborhood conditions? a shopping center a single-family residence a single-family residence How many experience hours are required to become a certified residential appraiser, according to the 2018 AQB Criteria? 1,000 hours in no fewer than 12 months 1,500 hours in no fewer than 12 months 2,000 hours in no fewer than 24 months 3,000 hours which includes 1,500 hours in non-residential appraisal 1,500 hours in no fewer than 12 months True or False: The end of the U.S. housing boom meant that appraisal business dropped significantly across the country. False How many experience hours are required as a prerequisite for Appraiser Trainee classification? 500 hours 2,000 hours in no fewer than 12 months 2,500 hours in no fewer than 24 months There is no experience prerequisite for Appraiser Trainee classification There is no experience prerequisite for Appraiser Trainee classification The basic requirements for state licensed and state certified appraisers had their genesis in Title ___ of FIRREA. V VII XI XII XI The Licensed Residential Real Property Appraiser classification applies to the appraisal of non-complex one to four residential units having a transaction value __________ and complex one to four residential units having a transaction value ____________. No more than $500,000, less than $250,000 Less than $1,000,000, less than $250,000 Less than $1,000,000, less than $500,000 No limits Less than $1,000,000, less than $250,000 The number of required classroom hours for Certified General Appraisers under the current AQB criteria is ____ hours. 150 200 250 300 300 The nationally recognized ethical and performance standards for appraisers are known as The Appraisal Code of Ethical Performance Uniform Standards of Professional Appraisal Practice Appraisal Standards of Ethics and Performance HUD Standards Uniform Standards of Professional Appraisal Practice (USPAP). Who is responsible for approving education courses for licensing, certification, and re-certification of appraisers? FHA HUD The Appraisal Standards Board Individual states Individual states Under the 2018 criteria, college level courses are required for none of the licensing or certification classifications Certified Residential and Certified General classifications Appraisal Trainees only Only the Certified General classification Certified Residential and Certified General classifications Which college-level course would probably be considered LEAST helpful to an appraiser? mathematics statistics economics criminology criminology The Certified General Real Property Appraiser classification requires ____ hours of experience in no fewer than ___ months. 2,500, 30 3,000, 18 2,000, 24 3,000, 40 3,000, 18 For licensed and certified real property appraisers, _____ class hours of continuing education are required each year. 7 10 14 18 14 The current AQB Real Property Appraiser Qualification Criteria went into effect January 1, 2012 July 1, 2015 May 1, 2018 June 30, 2008 May 1, 2018 The number of required classroom education hours for Certified Residential Appraisers under the 2018 AQB Criteria is ____ hours. 150 200 250 300 200