BASIC APPRAISAL PRINCIPLES STUDY SET QUESTIONS AND ASWERS 2025

BASIC APPRAISAL PRINCIPLES STUDY SET
QUESTIONS AND ASWERS 2025
True,or,False:,When,completing,an,appraisal,assignment,,an,appraiser,may,be,an,advocate,for,o
ne,party's,interest.,-,ANSWER,False


Which,characteristic,would,NOT,be,associated,with,a,good,appraiser?


diligent
biased
competent
honest,-,ANSWER,Biased


True,or,False:,A,course,in,sociology,would,probably,not,be,beneficial,to,an,appraiser.,-
,ANSWER,False



True,or,False:,An,applicant,for,Certified,General,appraiser,must,possess,at,least,an,associate's,de
gree,from,an,accredited,college,or,university.,-,ANSWER,False


An,applicant,who,wishes,to,become,a,Certified,Residential,appraiser,must,have,accumulated,a,
minimum,of,______,hours,of,appraisal,education.


75
120
150
200,-,ANSWER,200


The,requirements,for,state,licensed,and,certified,appraisers,had,their,genesis,in

,the,HVCC
the,Dodd-Frank,Act
various,federal,fair,housing,laws
FIRREA,-,ANSWER,FIRREA


Which,entity,is,responsible,for,establishing,the,requirements,to,become,an,appraiser?


the,AQB
the,ASB
HUD/FHA
the,APB,-,ANSWER,AQB


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,-
,ANSWER,There,is,no,experience,prerequisite,for,Appraiser,Trainee,classification



True,or,False:,The,end,of,the,U.S.,housing,boom,meant,that,appraisal,business,dropped,significa
ntly,across,the,country.,-,ANSWER,False


True,or,False:,Of,the,required,number,of,experience,hours,required,for,certified,general,appraise
r,applicants,,at,least,1,500,hours,must,be,in,the,appraisal,of,non-residential,property.,-
,ANSWER,True



The,appraisal,of,what,type,of,property,is,more,likely,to,be,affected,by,local,neighborhood,conditi
ons?

,a,shopping,center
a,single-family,residence,-,ANSWER,a,single-family,residence


The,basic,requirements,for,state,licensed,and,state,certified,appraisers,had,their,genesis,in,Title,
___,of,FIRREA.


V
VII
XI
XII,-,ANSWER,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,-,ANSWER,Less,than,$1,000,000,,less,than,$250,000


The,_____,is,charged,with,establishing,the,qualifications,that,all,the,states,must,adopt,in,licensin
g,,certification,and,re-certification,of,appraisers.


ASB
AQB
HUD
DEP,-,ANSWER,AQB

, The,number,of,required,classroom,education,hours,for,Licensed,Residential,Appraisers,under,th
e,2018,AQB,Criteria,is,____,hours.


150
200
180
300,-,ANSWER,150


Which,is,a,true,statement,regarding,appraiser,examinations?


They,are,administered,directly,by,the,AQB
The,exams,are,the,same,regardless,of,the,level,of,licensing,or,certification,desired
They,are,the,same,in,every,state,,with,few,exceptions
They,are,different,in,every,state,-,ANSWER,They,are,the,same,in,every,state,,with,few,exceptions


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,-,ANSWER,3,000,,18


Under,the,2018,AQB,criteria,,an,Appraiser,Trainee,is,permitted,to,have,________,supervising,ap
praiser,,but,a,supervising,appraiser,may,not,supervise,________,trainees.


Only,one,,more,than,three