Real Estate Appraisal Exam with correct answers
value - CORRECT ANSWERS ✔✔the monetary relationship between properties and
those who buy
Are NOT - CORRECT ANSWERS ✔✔Value and Price/Cost ARE or ARE NOT the
same thing?
So you get a clear understanding of the interest rate - CORRECT ANSWERS ✔✔Why
does an appraiser reconstruct the income statement of rental property?
10% - CORRECT ANSWERS ✔✔When you "go to the market for a cap rate", what is
your interest/return??
Education and continuing education - CORRECT ANSWERS ✔✔What does it take
to be a professional?
A board; you have to take a test - CORRECT ANSWERS ✔✔Who determines what a
professional is?
Education, knowledge, experience, judgement - CORRECT ANSWERS
✔✔Appraiser's background consists of...
Competency Rule - CORRECT ANSWERS ✔✔an appraiser must properly identify
the problem to be addressed and have the knowledge and experience in the property
type and location to complete the assignment competently.
, If property is contaminated, value will decrease.
If it was cleaned up, it could return a higher amt of money each year - CORRECT
ANSWERS ✔✔What is the role of the appraiser and contaminated property?
if it's not usable or properly cared for, you can't generate more value or build
schools/other buildings on it and create more value - CORRECT ANSWERS
✔✔What is the "value as collateral & generation of income" aspect regarding the role
of appraiser & contaminated property?
Cost of barn & value of land(acreage) - CORRECT ANSWERS ✔✔How did Gary
Earnes appraise the horse farm?
regression - CORRECT ANSWERS ✔✔when a property is surrounded by lower value
homes, making your property go down in value
progression - CORRECT ANSWERS ✔✔when a lower value home/property goes up
in value because surrounding properties are higher in value
-Sales comparison, cost, and income approaches to value - CORRECT ANSWERS
✔✔the Valuation System is comprised of... (3 things)
"underwater" or short-sell - CORRECT ANSWERS ✔✔when the mortgage is MORE
than what you can sell the property for, this is called..?
because 9x/10 the info is inaccurate & not in-depth data - CORRECT ANSWERS
✔✔Zillow?? why brokers don't like it
value - CORRECT ANSWERS ✔✔the monetary relationship between properties and
those who buy
Are NOT - CORRECT ANSWERS ✔✔Value and Price/Cost ARE or ARE NOT the
same thing?
So you get a clear understanding of the interest rate - CORRECT ANSWERS ✔✔Why
does an appraiser reconstruct the income statement of rental property?
10% - CORRECT ANSWERS ✔✔When you "go to the market for a cap rate", what is
your interest/return??
Education and continuing education - CORRECT ANSWERS ✔✔What does it take
to be a professional?
A board; you have to take a test - CORRECT ANSWERS ✔✔Who determines what a
professional is?
Education, knowledge, experience, judgement - CORRECT ANSWERS
✔✔Appraiser's background consists of...
Competency Rule - CORRECT ANSWERS ✔✔an appraiser must properly identify
the problem to be addressed and have the knowledge and experience in the property
type and location to complete the assignment competently.
, If property is contaminated, value will decrease.
If it was cleaned up, it could return a higher amt of money each year - CORRECT
ANSWERS ✔✔What is the role of the appraiser and contaminated property?
if it's not usable or properly cared for, you can't generate more value or build
schools/other buildings on it and create more value - CORRECT ANSWERS
✔✔What is the "value as collateral & generation of income" aspect regarding the role
of appraiser & contaminated property?
Cost of barn & value of land(acreage) - CORRECT ANSWERS ✔✔How did Gary
Earnes appraise the horse farm?
regression - CORRECT ANSWERS ✔✔when a property is surrounded by lower value
homes, making your property go down in value
progression - CORRECT ANSWERS ✔✔when a lower value home/property goes up
in value because surrounding properties are higher in value
-Sales comparison, cost, and income approaches to value - CORRECT ANSWERS
✔✔the Valuation System is comprised of... (3 things)
"underwater" or short-sell - CORRECT ANSWERS ✔✔when the mortgage is MORE
than what you can sell the property for, this is called..?
because 9x/10 the info is inaccurate & not in-depth data - CORRECT ANSWERS
✔✔Zillow?? why brokers don't like it
