McKissock Basic Appraisal Principles I
Final Exam Quiz
150 - ANS-The current number of appraisal education hours required for Licensed Residential
Appraiser applicants is ______ hours.
16.5 ft - ANS-In property measurement, 1 rod or 25 links, which measures _______ feet.
2 - ANS-Reporting requirements for real property appraisers are set forth in STANDARD ___ of
the Uniform Standards of Professional Appraisal Practice.
200 - ANS-The current number of appraisal education hours required for Certified Residential
Appraiser applicants is ______ hours.
300 - ANS-The current number of appraisal education hours required for Certified General
Appraiser applicants is ______ hours.
4320 - ANS-A rancher owns six full sections plus three quarter sections. How many acres is
that?
66 - ANS-In property measurement, a chain contains 100 links, which measures _______ feet.
660 ft - ANS-In property measurement, 1 furlong or 10 chains, which measures _______ feet.
75 - ANS-Under the current education criteria, an applicant for Appraiser Trainee must have
completed ___ creditable class hours as specified in the required Core Curriculum Appendix.
a type of property, a specific property - ANS-A market analysis examines ____________ ,
where a marketability analysis examines ______________.
access right of way - ANS-Which of the following would NOT be considered a negative
easement?
adjustable rate - ANS-A mortgage in which the interest rate may move up or down, following a
specified schedule or in accordance with the movements of a standard or index to which it is
tied" is the definition of a(n) ______________ mortgage.
Appraisal Qualifications Board - ANS-The ________ is responsible for establishing criteria for
individuals to become real property appraisers.
Appraisal Subcommittee - ANS-The _______ maintains a national registry of state certified and
licensed appraisers who are eligible to perform appraisals in federally related transactions.
ASB - ANS-The ______ publishes "other communications" in the form of Advisory Opinions and
USPAP FAQs.
ASC - ANS-The ______ maintains a National Registry of appraisers.
ASC (Appraisal Subcommittee) - ANS-The _____ has oversight authority over state appraisal
boards.
borrowing, saving - ANS-Low interest rates encourage __________, while high interest rates
encourage _________.
both Certified Residential and Certified General - ANS-Under the current qualifying education
criteria, there are college-level course requirements for __________ classifications.
, building codes, zoning, environmental regulations - ANS-Police power would include which of
the following
capital - ANS-"The interaction of buyers and sellers who trade long-term or intermediate-term
money instruments" is the definition of the _____________ market.
Census.gov - ANS-The website with the largest amount of demographics information is
client - ANS-The party or parties who engage, by employment or contract, an appraiser in a
specific assignment" is the definition of
consideration, in writing and signed, and lawful objective - ANS-Which of the below is a
requirement of a valid real estate contract?
contribution - ANS-When estimating the value of a fireplace in a single-family home, the most
important principle is the principle of
cooperative - ANS-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?
deed restriction and mechanic's lien - ANS-Which two of the following would be private
restrictions on property rights?
directly, proportionately - ANS-The principle of supply and demand states that the price of a
commodity, good, or service varies __________, but not necessarily _____________, with
demand.
disclose - ANS-The Management Section of the ETHICS RULE states, in part, "An appraiser
must __________ that he or she paid a fee or commission, or gave a thing of value in
connection with the procurement of an assignment.
district - ANS-A neighborhood characterized by homogeneous land use, e.g., apartment,
commercial, industrial, agricultural" is the definition of
EDI, PDF - ANS-Twenty years ago, most appraisal reports that were sent electronically were
sent using _____ technology; today, most appraisals are sent electronically using a _______
format.
encroachment - ANS-Trespassing on the domain of another" is the definition of
escheat - ANS-Which of these would be considered a public restriction on real property
ownership?
escheat - ANS-Which of these would be considered a public restriction on real property
ownership?
estate - ANS-A right or interest in property" is a(n)
estimate, opinion - ANS-Modern definitions of the word "appraisal" have replaced the word
_______ with ________.
except assessors - ANS-All of the following could be participants in a real property market
EXCEPT
except Fannie Mae - ANS-The federal financial institutions regulatory agencies directly involved
in fair lending include all of the following EXCEPT
except FHA - ANS-The primary operators in the secondary mortgage market include all of the
following EXCEPT
except knowledgeable buyer and seller - ANS-All of the following could lead to a
non-arm's-length transaction EXCEPT
except property rights - ANS-Real estate includes all of the following EXCEPT
executory - ANS-A(n) __________ contract is one that is not been fully performed or completed.
Final Exam Quiz
150 - ANS-The current number of appraisal education hours required for Licensed Residential
Appraiser applicants is ______ hours.
16.5 ft - ANS-In property measurement, 1 rod or 25 links, which measures _______ feet.
2 - ANS-Reporting requirements for real property appraisers are set forth in STANDARD ___ of
the Uniform Standards of Professional Appraisal Practice.
200 - ANS-The current number of appraisal education hours required for Certified Residential
Appraiser applicants is ______ hours.
300 - ANS-The current number of appraisal education hours required for Certified General
Appraiser applicants is ______ hours.
4320 - ANS-A rancher owns six full sections plus three quarter sections. How many acres is
that?
66 - ANS-In property measurement, a chain contains 100 links, which measures _______ feet.
660 ft - ANS-In property measurement, 1 furlong or 10 chains, which measures _______ feet.
75 - ANS-Under the current education criteria, an applicant for Appraiser Trainee must have
completed ___ creditable class hours as specified in the required Core Curriculum Appendix.
a type of property, a specific property - ANS-A market analysis examines ____________ ,
where a marketability analysis examines ______________.
access right of way - ANS-Which of the following would NOT be considered a negative
easement?
adjustable rate - ANS-A mortgage in which the interest rate may move up or down, following a
specified schedule or in accordance with the movements of a standard or index to which it is
tied" is the definition of a(n) ______________ mortgage.
Appraisal Qualifications Board - ANS-The ________ is responsible for establishing criteria for
individuals to become real property appraisers.
Appraisal Subcommittee - ANS-The _______ maintains a national registry of state certified and
licensed appraisers who are eligible to perform appraisals in federally related transactions.
ASB - ANS-The ______ publishes "other communications" in the form of Advisory Opinions and
USPAP FAQs.
ASC - ANS-The ______ maintains a National Registry of appraisers.
ASC (Appraisal Subcommittee) - ANS-The _____ has oversight authority over state appraisal
boards.
borrowing, saving - ANS-Low interest rates encourage __________, while high interest rates
encourage _________.
both Certified Residential and Certified General - ANS-Under the current qualifying education
criteria, there are college-level course requirements for __________ classifications.
, building codes, zoning, environmental regulations - ANS-Police power would include which of
the following
capital - ANS-"The interaction of buyers and sellers who trade long-term or intermediate-term
money instruments" is the definition of the _____________ market.
Census.gov - ANS-The website with the largest amount of demographics information is
client - ANS-The party or parties who engage, by employment or contract, an appraiser in a
specific assignment" is the definition of
consideration, in writing and signed, and lawful objective - ANS-Which of the below is a
requirement of a valid real estate contract?
contribution - ANS-When estimating the value of a fireplace in a single-family home, the most
important principle is the principle of
cooperative - ANS-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?
deed restriction and mechanic's lien - ANS-Which two of the following would be private
restrictions on property rights?
directly, proportionately - ANS-The principle of supply and demand states that the price of a
commodity, good, or service varies __________, but not necessarily _____________, with
demand.
disclose - ANS-The Management Section of the ETHICS RULE states, in part, "An appraiser
must __________ that he or she paid a fee or commission, or gave a thing of value in
connection with the procurement of an assignment.
district - ANS-A neighborhood characterized by homogeneous land use, e.g., apartment,
commercial, industrial, agricultural" is the definition of
EDI, PDF - ANS-Twenty years ago, most appraisal reports that were sent electronically were
sent using _____ technology; today, most appraisals are sent electronically using a _______
format.
encroachment - ANS-Trespassing on the domain of another" is the definition of
escheat - ANS-Which of these would be considered a public restriction on real property
ownership?
escheat - ANS-Which of these would be considered a public restriction on real property
ownership?
estate - ANS-A right or interest in property" is a(n)
estimate, opinion - ANS-Modern definitions of the word "appraisal" have replaced the word
_______ with ________.
except assessors - ANS-All of the following could be participants in a real property market
EXCEPT
except Fannie Mae - ANS-The federal financial institutions regulatory agencies directly involved
in fair lending include all of the following EXCEPT
except FHA - ANS-The primary operators in the secondary mortgage market include all of the
following EXCEPT
except knowledgeable buyer and seller - ANS-All of the following could lead to a
non-arm's-length transaction EXCEPT
except property rights - ANS-Real estate includes all of the following EXCEPT
executory - ANS-A(n) __________ contract is one that is not been fully performed or completed.
