Basic Appraisal Principles - Mckissock Learning Questions and
Answers| Latest Update
The primary operators in the secondary mortgage market include all of the following EXCEPT
✔️✔️FHA
Which entity is responsible for making periodic changes to USPAP? ✔️✔️Appraisal Standards
Board
What is the mean of these numbers: 124.5, 146.8, 152, 187.9, 153, 217.98, 12, 542.66, 45.7,
71.44, 158.04? ✔️✔️164.73
The general rule of contracting with minors is that a contract with a minor is ✔️✔️Voidable at the
minor's option
"A market in which a drop in demand is accompanied by a relative oversupply and a decline in
prices" is the definition of a(n) __________ market. ✔️✔️Depressed
"A development right that cannot be used by the landowner, or that the owner chooses not to
use, but can be sold to landowners in another location" are called _____________ rights.
✔️✔️Transferable Development
Which would NOT be considered factors in supply analysis? ✔️✔️Employment Rates
Which two of the following would be private restrictions on property rights? ✔️✔️Deed
Restriction and mechanic's lien
a circle contains _________ degrees ✔️✔️360
, Real estate includes all of the following ✔️✔️Property Rights
What is the mean of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129)
✔️✔️104
"A value that cannot be imputed to any part of the physical property, e.g., the excess value
attributable to a favorable lease or mortgage, the value attributable to goodwill" is the
definition of ____________ value. ✔️✔️Intangible
Which agency is charged with monitoring coastal habitats? ✔️✔️National Oceanic & Atmospheric
Administration (NOAA): This agency is charged with monitoring costal habitats, such as
estuaries and reefs.
Which of the following are examples of demand in a real property market? ✔️✔️Increasing
immigration into the area, increasing building permits, decreasing vacancy rates,
unemployment
Two years ago, you bought a property for $264,500. Values increased in that area by 5% the
first year and 7% the second year. How much is your property worth today? ✔️✔️$297,166
"A neighborhood characterized by homogeneous land use, e.g., apartment, commercial,
industrial, agricultural" is the definition of ✔️✔️District
_________ is a computerized mapping system for encoding, retrieving, analyzing and
presenting geographic or spatial data. ✔️✔️GIS
USPAP defines _________ as the amount asked, offered, or paid for a property. ✔️✔️Price
A rancher owns six full sections plus three-quarter sections. How many acres is that? ✔️✔️4320,
1 Section = 640 acres, 1 Quarter = 160 acres
Answers| Latest Update
The primary operators in the secondary mortgage market include all of the following EXCEPT
✔️✔️FHA
Which entity is responsible for making periodic changes to USPAP? ✔️✔️Appraisal Standards
Board
What is the mean of these numbers: 124.5, 146.8, 152, 187.9, 153, 217.98, 12, 542.66, 45.7,
71.44, 158.04? ✔️✔️164.73
The general rule of contracting with minors is that a contract with a minor is ✔️✔️Voidable at the
minor's option
"A market in which a drop in demand is accompanied by a relative oversupply and a decline in
prices" is the definition of a(n) __________ market. ✔️✔️Depressed
"A development right that cannot be used by the landowner, or that the owner chooses not to
use, but can be sold to landowners in another location" are called _____________ rights.
✔️✔️Transferable Development
Which would NOT be considered factors in supply analysis? ✔️✔️Employment Rates
Which two of the following would be private restrictions on property rights? ✔️✔️Deed
Restriction and mechanic's lien
a circle contains _________ degrees ✔️✔️360
, Real estate includes all of the following ✔️✔️Property Rights
What is the mean of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129)
✔️✔️104
"A value that cannot be imputed to any part of the physical property, e.g., the excess value
attributable to a favorable lease or mortgage, the value attributable to goodwill" is the
definition of ____________ value. ✔️✔️Intangible
Which agency is charged with monitoring coastal habitats? ✔️✔️National Oceanic & Atmospheric
Administration (NOAA): This agency is charged with monitoring costal habitats, such as
estuaries and reefs.
Which of the following are examples of demand in a real property market? ✔️✔️Increasing
immigration into the area, increasing building permits, decreasing vacancy rates,
unemployment
Two years ago, you bought a property for $264,500. Values increased in that area by 5% the
first year and 7% the second year. How much is your property worth today? ✔️✔️$297,166
"A neighborhood characterized by homogeneous land use, e.g., apartment, commercial,
industrial, agricultural" is the definition of ✔️✔️District
_________ is a computerized mapping system for encoding, retrieving, analyzing and
presenting geographic or spatial data. ✔️✔️GIS
USPAP defines _________ as the amount asked, offered, or paid for a property. ✔️✔️Price
A rancher owns six full sections plus three-quarter sections. How many acres is that? ✔️✔️4320,
1 Section = 640 acres, 1 Quarter = 160 acres
