Basic Appraisal Principles - Mckissock Learning Exam Questions With 100% Correct Answers

Basic Appraisal Principles - Mckissock Learning Exam Questions With 100% Correct Answers 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? - answerIt 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. - answerSalvage Reporting requirements for real property appraisers are set forth in STANDARD ___ of the Uniform Standards of Professional Appraisal Practice. - answer2 The appraisal standards and qualification criteria that are published by The Appraisal Foundation achieve legal authority by adoption, citation or implementation by - answerGovernment agencies with the power to regulate or administrate The ________ is responsible for establishing criteria for individuals to become real property appraisers - answerAppraiser Qualification Board The principle of supply and demand states that the price of a commodity, good, or service varies __________, but not necessarily _____________, with demand. - answerdirectly, proportionately A lot contains .56 acres. It sells for $35,000. How much did it sell for per square foot? - answer$1.43 The _______ maintains a national registry of state certified and licensed appraisers who are eligible to perform appraisals in federally related transactions. - answerAppraisal Subcommittee When estimating the value of a fireplace in a single-family home, the most important principle is the principle of - answerContribution "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 - answerleasehold estate