McKissock Basic Appraisal Principles I
Final Exam 2024/2025 Exam Questions
and Answers | A+ Score Assured
ASC (Appraisal Subcommittee) - 🧠ANSWER ✔✔The _____ has oversight
authority over state appraisal boards.
consideration, in writing and signed, and lawful objective - 🧠ANSWER
✔✔Which of the below is a requirement of a valid real estate contract?
capital - 🧠ANSWER ✔✔"The interaction of buyers and sellers who trade
long-term or intermediate-term money instruments" is the definition of the
_____________ market.
market study - 🧠ANSWER ✔✔An analysis of the market conditions of
supply, demand, and pricing for a specific property type in a specific area"
is the definition of
market - 🧠ANSWER ✔✔A gathering of people for the buying and selling of
things" is the definition of
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, real estate - 🧠ANSWER ✔✔Which of the following types of investments
has historically generated the highest return on investment?
except property rights - 🧠ANSWER ✔✔Real estate includes all of the
following EXCEPT
Impartiality, objectivity, and independence - 🧠ANSWER ✔✔The Conduct
Section of the ETHICS RULE states, in part, that an appraiser must
perform assignments with
except assessors - 🧠ANSWER ✔✔All of the following could be participants
in a real property market EXCEPT
EDI, PDF - 🧠ANSWER ✔✔Twenty years ago, most appraisal reports that
were sent electronically were sent using _____ technology; today, most
appraisals are sent electronically using a _______ format.
not enough information to determine - 🧠ANSWER ✔✔A property is owned
as tenancy in severalty. How many owners are there?
cooperative - 🧠ANSWER ✔✔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?
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
Final Exam 2024/2025 Exam Questions
and Answers | A+ Score Assured
ASC (Appraisal Subcommittee) - 🧠ANSWER ✔✔The _____ has oversight
authority over state appraisal boards.
consideration, in writing and signed, and lawful objective - 🧠ANSWER
✔✔Which of the below is a requirement of a valid real estate contract?
capital - 🧠ANSWER ✔✔"The interaction of buyers and sellers who trade
long-term or intermediate-term money instruments" is the definition of the
_____________ market.
market study - 🧠ANSWER ✔✔An analysis of the market conditions of
supply, demand, and pricing for a specific property type in a specific area"
is the definition of
market - 🧠ANSWER ✔✔A gathering of people for the buying and selling of
things" is the definition of
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 1
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, real estate - 🧠ANSWER ✔✔Which of the following types of investments
has historically generated the highest return on investment?
except property rights - 🧠ANSWER ✔✔Real estate includes all of the
following EXCEPT
Impartiality, objectivity, and independence - 🧠ANSWER ✔✔The Conduct
Section of the ETHICS RULE states, in part, that an appraiser must
perform assignments with
except assessors - 🧠ANSWER ✔✔All of the following could be participants
in a real property market EXCEPT
EDI, PDF - 🧠ANSWER ✔✔Twenty years ago, most appraisal reports that
were sent electronically were sent using _____ technology; today, most
appraisals are sent electronically using a _______ format.
not enough information to determine - 🧠ANSWER ✔✔A property is owned
as tenancy in severalty. How many owners are there?
cooperative - 🧠ANSWER ✔✔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?
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. 2
PRIVACY STATEMENT. ALL RIGHTS RESERVED
