Basic Appraisal Principles Exam
Question Review
Which bof bthe bfollowing bitems bare bconsidered bto bbe bpersonal bproperty?
a. ba btree borchard
b. bbuilt-in bcabinetry
c. bfurniture
d. binterior blight bfixtures b- bcorrect banswers✔✔c
Mayes bowns ba bproperty bbuy bhas bleased bit bto bJacobs. bWhich bterm bdescribes
bJacobs' bright bin bthe bproperty?
a. bFee bsimple binterest
b. bLeased bfee binterest
c. bLeasehold binterest
d. bLessor binterest b- bcorrect banswers✔✔c
Real bestate bis bbest bdescribed bas b
a. beverything bresting bon bthe bsurface bof bthe bland b
b. bfixtures band bbuilding bimprovements b
c. bland band beverything bpermanently battached bto bit b
d. bthe bcomplete bbundle bof brights battached bto bthe bland b- bcorrect banswers✔✔c
Mineral brights bare ban bexample bof b
a. bair brights b
b. briparian brights
c. bsubsurface brights
d. bsuprasurface brights b- bcorrect banswers✔✔c
An bappraiser's bfamiliarity bwith ba bspecific btype bof bproperty bapplies bto bwhat
bconcept?
a. bcompetency
b. bimpartiality
c. bintended buse b
d. bsufficient bdilligence b- bcorrect banswers✔✔a
Sanchez bis bappraising ba bproperty bfor ba bclient bwith bthe bintended buse bof bfiling ba
btax bappeal. bin bthis btype bof bassignment, bSanchez bshould
,a. bfind bout bwhat bvalue bthe bclient's blawyer brecommends
b. bnot badvocate bthe bcause bor binterest bof bany bparty bor bissue
c. brepresent bthe bclient's bcause bin bthe bappeal
d. btry bto bkeep bthe bvalue bas blow bas bpossible b- bcorrect banswers✔✔b
Before ban bappraiser bbegins ban bassignment, bthe bproblem bto bbe bsolved bmust bbe
bidentified. bWhat bis bthe bnext bstep bthe bappraiser bmust btake bto bensure bcredible
bassignment bresults? b
a. ba bpreliminary bopinion bfor bthe bclient
b. ba bpro bforma bfor bthe bassignment b
c. ba bproject btimeline
d. bdetermination bof bthe bscope bof bwork b- bcorrect banswers✔✔d
chattel band bpersonalty bare bterms bused bto bdescribe
a. bemblements
b. bfixtures
c. bpersonal bproperty
d. breal bproperty b- bcorrect banswers✔✔c
Hooper bgave bpermission bto ba bnearby bbusiness bneighbor bto bplace ba bsign bon bhis
bcorner bproperty bto badvertise bthe bneighbor's bliquidation bsale. bWhat bhas bHooper
bgiven bhis bneighbor?
a. ba blicense b
b. ba bpartial binterest bin bhis bproperty
c. ba bpersonal beasement bin bgross b
d. ban bestate b- bcorrect banswers✔✔a
What bis ba btenancy b(that bis, bestate) bin bwhich ba blessee bremains bin bpossession bof
bthe bproperty bwithout bthe blessor's bconsent? b
a. btenancy bat bsufferance b
b. btenancy bat bwill b
c. btenancy bfor byears
d. btenancy bfrom bperiordto bperiod b- bcorrect banswers✔✔a
An bappraisal bis bbest bdefined bas b
a. bthe bact bor bmethod bof btelling bthe bclient bthe bmarket bvalue bof bthe breal bestate b
b. bthe bact bor bprocess bof bdeveloping ban bopinion bof bvalue
c. bthe breport bdelivered bto bthe bclient
d. ba bprofessional bestimate bof ba bproperty b- bcorrect banswers✔✔b
In breal bestate bappraisal, bfees bbased bon ba bpercentage bof bthe bconclusion bof bvalue
bare b
a. ballowed bif bthe bclient bagrees
b. bnever ballowed
c. bstrongly bdiscouraged
d. ballowed bin btax bappeal bcases b- bcorrect banswers✔✔b
,When ba bproperty bis bin bdispute, beach bparty bwill boften bretain ban bappraiser. bIn bthis
btype bof bassignment, bit bis beach bappraiser's bobligation bto bdo bwhat?
a. bto brepresent bthe bclient's bposition bin bthe bmatter
b. bto bbe bindependent, bimpartial band bobjective bthroughout bthe bappraisal bprocess
bregardless bof bthe bparty bthat bretains bthe bappraiser b
c. bto brepresent bthe bappraiser's bown bpersonal binterests bin bthe bassignment
d. bto brepresent bthe bposition bof bthe bcourt bthat bis bdeciding bthe bmatter b- bcorrect
banswers✔✔b
Beng bcompetent bpertains bto b
a. ba bmarket
b. bspecific blaws bor bregulations
c. ba bparticular bapproach
d. ball bof bthese banswers b- bcorrect banswers✔✔d
An bappraiser bmust bbe bcompetent bin b(blank) bto bproduce ba bcredible bappraisal
a. bsix bof bthe bseven bfactors bnecessary b
b. bapplying bthe bapproaches b
c. bselecting bcomparable bsales
d. ball bthe bcompetencies bthat bare bnecessary b- bcorrect banswers✔✔d
An bappraiser bmust binform ba bclient bprior bto baccepting bthe bassignment bif bhe bor bshe
blacks bthe brequisite btraining, binformation band/or bwork bexperience bto bcomplete bthe
bassignment bcompetently
a. btrue
b. bfalse b- bcorrect banswers✔✔a
When bdeveloping ba breal bproperty bappraisal, ban bappraiser
a. bmust buse bonly bthose bmethods band btechniques bthe bappraiser bis bfamiliar bwith
b. bmust bbe baware bof, bunderstand, band bcorrectly bemploy bthose brecognized
bmethods band btechniques bthat bare bnecessary bto bproduce ba bcredible bappraisal b
c. bcan bimprovise bvaluation btechniques bwhen bthe bassignment bis bcomplex band
btraditional bmethods bdon't bwork b
d. bmust bbe baware bthat bcompetency bdoesn't brequire bthe bappraiser bto bknow bthe
bbest bmethod bor btechnique bto bsolving bthe bproblem b- bcorrect banswers✔✔b
Making ba bseries bof bsmall berrors bin ban bappraisal bis bacceptable bso blong bas bit bdoes
bnot bsignificantly baffect bthe bvalue bconclusion
a. btrue
b. bfalse b- bcorrect banswers✔✔b
Which bof bthe bfollowing bis bthe bbest bexample bof ban bappraiser bthat bhas bperformed
ban bappraisal bservice bin ba bcareless bor bnegligent bmanner?
a. bthe bappraiser bturned bin bthe bappraisal breport bpast bthe bdate bit bwas bdue
, b. bthe bappraiser bmade ba bseries bof berrors bthat bindividually bmight bnot bsignificantly
baffect bthe bresults bof bthe bappraisal, bbut bthat bin btotal baffect bthe bcredibility bof bthose
bresults
c. bthe bappraisal breport bhad bseveral btypos b
d. bthe bappraiser bmislabeled bone bof bthe brooms bin bthe bbuilding bsketch, balthough bit
bwas bcorrectly bstated bin bthe breport bcontent b- bcorrect banswers✔✔b
The bmanner bin bwhich ba bclient butilizes bthe binformation band bopinions bcontained bin
bthe bappraisal breport bmay bbe bbest bidentified bas b
a. bthe bintended buse
b. bthe bpurpose bof ban bappraisal b
c. bthe bbase bof ban bappraisal b
d. bthe bappraisal bpermise b- bcorrect banswers✔✔a
The bpurpose bof bthe bassignment bis balso breferred bto bas b
a. bscope bof bwork
b. btype band bdefinition bof bvalue
c. bvalue bopinion b
d. bthe bextent bof bresearch b- bcorrect banswers✔✔b
Which bof bthe bfollowing bis bone bof bthe bassignment belements bthat ban bappraiser
bmust bidentify bprior bto bacceptance?
a. bassignment bdelivery bdate
b. bassignment bfee
c. bassignment bconditions
d. bassignment bexceptions b- bcorrect banswers✔✔c
What bis bthe bstrategy bfor bsolving ba bclient's bvaluation bproblem bin bwhich bthe
bappraiser bdetermines bthe btype band bextent bof bresearch band banalyses bthe
bassignment brequires?
a. bintended buse
b. bscope bof bwork
c. btype band bdefinition bof bvalue
d. bappraisal bplan b- bcorrect banswers✔✔b
Which bof bthe bfollowing bstatements bis btrue?
a. bproblem bidentification bprecedes bthe bscope bof bwork bdecision
b. bthe bscope bof bwork bis bpredetermined bin ba bmortgage brelated bappraisal b
c. bthe bscope bof bwork bdetermines bthe bproblem bto bbe bsolved
d. bthe bassignment bconditions bcontrol bthe btype bof breport bto bbe bwritten b- bcorrect
banswers✔✔a
You bare ban bappraiser bwho balso bperforms bbrokerage bservices. bYou bhave bbeen
basked bto bhelp bsell ba bsmall bfamily bfarm. bThe bclient bspecifically bneeds bassistance
bwith ba bmarketing bplan, bdeciding bwhat bimprovements bshould bbe bmade bto bthe
bproperty band bhow bto bhandle ban boffer. bIf byou baccept bthis bassignment, byou bare
Question Review
Which bof bthe bfollowing bitems bare bconsidered bto bbe bpersonal bproperty?
a. ba btree borchard
b. bbuilt-in bcabinetry
c. bfurniture
d. binterior blight bfixtures b- bcorrect banswers✔✔c
Mayes bowns ba bproperty bbuy bhas bleased bit bto bJacobs. bWhich bterm bdescribes
bJacobs' bright bin bthe bproperty?
a. bFee bsimple binterest
b. bLeased bfee binterest
c. bLeasehold binterest
d. bLessor binterest b- bcorrect banswers✔✔c
Real bestate bis bbest bdescribed bas b
a. beverything bresting bon bthe bsurface bof bthe bland b
b. bfixtures band bbuilding bimprovements b
c. bland band beverything bpermanently battached bto bit b
d. bthe bcomplete bbundle bof brights battached bto bthe bland b- bcorrect banswers✔✔c
Mineral brights bare ban bexample bof b
a. bair brights b
b. briparian brights
c. bsubsurface brights
d. bsuprasurface brights b- bcorrect banswers✔✔c
An bappraiser's bfamiliarity bwith ba bspecific btype bof bproperty bapplies bto bwhat
bconcept?
a. bcompetency
b. bimpartiality
c. bintended buse b
d. bsufficient bdilligence b- bcorrect banswers✔✔a
Sanchez bis bappraising ba bproperty bfor ba bclient bwith bthe bintended buse bof bfiling ba
btax bappeal. bin bthis btype bof bassignment, bSanchez bshould
,a. bfind bout bwhat bvalue bthe bclient's blawyer brecommends
b. bnot badvocate bthe bcause bor binterest bof bany bparty bor bissue
c. brepresent bthe bclient's bcause bin bthe bappeal
d. btry bto bkeep bthe bvalue bas blow bas bpossible b- bcorrect banswers✔✔b
Before ban bappraiser bbegins ban bassignment, bthe bproblem bto bbe bsolved bmust bbe
bidentified. bWhat bis bthe bnext bstep bthe bappraiser bmust btake bto bensure bcredible
bassignment bresults? b
a. ba bpreliminary bopinion bfor bthe bclient
b. ba bpro bforma bfor bthe bassignment b
c. ba bproject btimeline
d. bdetermination bof bthe bscope bof bwork b- bcorrect banswers✔✔d
chattel band bpersonalty bare bterms bused bto bdescribe
a. bemblements
b. bfixtures
c. bpersonal bproperty
d. breal bproperty b- bcorrect banswers✔✔c
Hooper bgave bpermission bto ba bnearby bbusiness bneighbor bto bplace ba bsign bon bhis
bcorner bproperty bto badvertise bthe bneighbor's bliquidation bsale. bWhat bhas bHooper
bgiven bhis bneighbor?
a. ba blicense b
b. ba bpartial binterest bin bhis bproperty
c. ba bpersonal beasement bin bgross b
d. ban bestate b- bcorrect banswers✔✔a
What bis ba btenancy b(that bis, bestate) bin bwhich ba blessee bremains bin bpossession bof
bthe bproperty bwithout bthe blessor's bconsent? b
a. btenancy bat bsufferance b
b. btenancy bat bwill b
c. btenancy bfor byears
d. btenancy bfrom bperiordto bperiod b- bcorrect banswers✔✔a
An bappraisal bis bbest bdefined bas b
a. bthe bact bor bmethod bof btelling bthe bclient bthe bmarket bvalue bof bthe breal bestate b
b. bthe bact bor bprocess bof bdeveloping ban bopinion bof bvalue
c. bthe breport bdelivered bto bthe bclient
d. ba bprofessional bestimate bof ba bproperty b- bcorrect banswers✔✔b
In breal bestate bappraisal, bfees bbased bon ba bpercentage bof bthe bconclusion bof bvalue
bare b
a. ballowed bif bthe bclient bagrees
b. bnever ballowed
c. bstrongly bdiscouraged
d. ballowed bin btax bappeal bcases b- bcorrect banswers✔✔b
,When ba bproperty bis bin bdispute, beach bparty bwill boften bretain ban bappraiser. bIn bthis
btype bof bassignment, bit bis beach bappraiser's bobligation bto bdo bwhat?
a. bto brepresent bthe bclient's bposition bin bthe bmatter
b. bto bbe bindependent, bimpartial band bobjective bthroughout bthe bappraisal bprocess
bregardless bof bthe bparty bthat bretains bthe bappraiser b
c. bto brepresent bthe bappraiser's bown bpersonal binterests bin bthe bassignment
d. bto brepresent bthe bposition bof bthe bcourt bthat bis bdeciding bthe bmatter b- bcorrect
banswers✔✔b
Beng bcompetent bpertains bto b
a. ba bmarket
b. bspecific blaws bor bregulations
c. ba bparticular bapproach
d. ball bof bthese banswers b- bcorrect banswers✔✔d
An bappraiser bmust bbe bcompetent bin b(blank) bto bproduce ba bcredible bappraisal
a. bsix bof bthe bseven bfactors bnecessary b
b. bapplying bthe bapproaches b
c. bselecting bcomparable bsales
d. ball bthe bcompetencies bthat bare bnecessary b- bcorrect banswers✔✔d
An bappraiser bmust binform ba bclient bprior bto baccepting bthe bassignment bif bhe bor bshe
blacks bthe brequisite btraining, binformation band/or bwork bexperience bto bcomplete bthe
bassignment bcompetently
a. btrue
b. bfalse b- bcorrect banswers✔✔a
When bdeveloping ba breal bproperty bappraisal, ban bappraiser
a. bmust buse bonly bthose bmethods band btechniques bthe bappraiser bis bfamiliar bwith
b. bmust bbe baware bof, bunderstand, band bcorrectly bemploy bthose brecognized
bmethods band btechniques bthat bare bnecessary bto bproduce ba bcredible bappraisal b
c. bcan bimprovise bvaluation btechniques bwhen bthe bassignment bis bcomplex band
btraditional bmethods bdon't bwork b
d. bmust bbe baware bthat bcompetency bdoesn't brequire bthe bappraiser bto bknow bthe
bbest bmethod bor btechnique bto bsolving bthe bproblem b- bcorrect banswers✔✔b
Making ba bseries bof bsmall berrors bin ban bappraisal bis bacceptable bso blong bas bit bdoes
bnot bsignificantly baffect bthe bvalue bconclusion
a. btrue
b. bfalse b- bcorrect banswers✔✔b
Which bof bthe bfollowing bis bthe bbest bexample bof ban bappraiser bthat bhas bperformed
ban bappraisal bservice bin ba bcareless bor bnegligent bmanner?
a. bthe bappraiser bturned bin bthe bappraisal breport bpast bthe bdate bit bwas bdue
, b. bthe bappraiser bmade ba bseries bof berrors bthat bindividually bmight bnot bsignificantly
baffect bthe bresults bof bthe bappraisal, bbut bthat bin btotal baffect bthe bcredibility bof bthose
bresults
c. bthe bappraisal breport bhad bseveral btypos b
d. bthe bappraiser bmislabeled bone bof bthe brooms bin bthe bbuilding bsketch, balthough bit
bwas bcorrectly bstated bin bthe breport bcontent b- bcorrect banswers✔✔b
The bmanner bin bwhich ba bclient butilizes bthe binformation band bopinions bcontained bin
bthe bappraisal breport bmay bbe bbest bidentified bas b
a. bthe bintended buse
b. bthe bpurpose bof ban bappraisal b
c. bthe bbase bof ban bappraisal b
d. bthe bappraisal bpermise b- bcorrect banswers✔✔a
The bpurpose bof bthe bassignment bis balso breferred bto bas b
a. bscope bof bwork
b. btype band bdefinition bof bvalue
c. bvalue bopinion b
d. bthe bextent bof bresearch b- bcorrect banswers✔✔b
Which bof bthe bfollowing bis bone bof bthe bassignment belements bthat ban bappraiser
bmust bidentify bprior bto bacceptance?
a. bassignment bdelivery bdate
b. bassignment bfee
c. bassignment bconditions
d. bassignment bexceptions b- bcorrect banswers✔✔c
What bis bthe bstrategy bfor bsolving ba bclient's bvaluation bproblem bin bwhich bthe
bappraiser bdetermines bthe btype band bextent bof bresearch band banalyses bthe
bassignment brequires?
a. bintended buse
b. bscope bof bwork
c. btype band bdefinition bof bvalue
d. bappraisal bplan b- bcorrect banswers✔✔b
Which bof bthe bfollowing bstatements bis btrue?
a. bproblem bidentification bprecedes bthe bscope bof bwork bdecision
b. bthe bscope bof bwork bis bpredetermined bin ba bmortgage brelated bappraisal b
c. bthe bscope bof bwork bdetermines bthe bproblem bto bbe bsolved
d. bthe bassignment bconditions bcontrol bthe btype bof breport bto bbe bwritten b- bcorrect
banswers✔✔a
You bare ban bappraiser bwho balso bperforms bbrokerage bservices. bYou bhave bbeen
basked bto bhelp bsell ba bsmall bfamily bfarm. bThe bclient bspecifically bneeds bassistance
bwith ba bmarketing bplan, bdeciding bwhat bimprovements bshould bbe bmade bto bthe
bproperty band bhow bto bhandle ban boffer. bIf byou baccept bthis bassignment, byou bare
