©THESTAR 2025 ALL RIGHTS RESERVED 11:44 AM A+
Basic Appraisal Principles Mckissock. Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass.
Promote and maintain, public trust - Answer✔The intent of USPAP is to ____________ a high
level of __________ in professional appraisal practice.
wage levels - Answer✔Which of the following would NOT be considered a governmental
influence on value?
employment rates - Answer✔Which would NOT be considered factors in supply analysis?
escheat - Answer✔Which of these would be considered a public restriction on real property
ownership?
3000 - Answer✔The number of required experience hours for Certified General Appraiser
applicants is ____ hours.
Property Rights - Answer✔Real estate includes all of the following EXCEPT
Imperfect - Answer✔The real property market is generally classified as a(n) __________
market.
Salvage - Answer✔The price expected for a whole property, e.g., a house, or a part of a
property, e.g., a plumbing fixture, that is removed from the premises usually for use elsewhere"
is the definition of ____________ value.
market area - Answer✔The geographic region from which a majority of demand comes and
which the majority of the competition is located" is the definition of
1|Page
, ©THESTAR 2025 ALL RIGHTS RESERVED 11:44 AM A+
leased fee interest - Answer✔The ownership interest held by the lessor, which includes the
right to receive the contract rent specified in the lease plus the reversionary right when the
lease expires" is the definition of
leasehold estate - Answer✔The right held by the lessee to use and occupy real estate for a
stated term and under the conditions specified in the lease" is the definition of
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?
Price - Answer✔USPAP defines _________ as the amount asked, offered, or paid for a property.
estimate, opinion - Answer✔Modern definitions of the word "appraisal" have replaced the
word _______ with ________.
vacant land and improved property - Answer✔The principle of highest and best use applies to
FDIC, OCC, FRB - Answer✔The federal financial institutions regulatory agencies directly involved
in fair lending include all of the following
GIS - Answer✔_________ is a computerized mapping system for encoding, retrieving, analyzing
and presenting geographic or spatial data.
omit the client's identity from the report but identify the client in the workfile - Answer✔A
client asks an appraiser to omit the client's identity from the appraisal report. What can the
appraiser do?
transferable development - Answer✔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
FDIC,OCC,FRB - Answer✔The federal financial institutions regulatory agencies directly involved
in fair lending include all of the following
2|Page
Basic Appraisal Principles Mckissock. Exam
Questions And Answers |Latest 2025 |
Guaranteed Pass.
Promote and maintain, public trust - Answer✔The intent of USPAP is to ____________ a high
level of __________ in professional appraisal practice.
wage levels - Answer✔Which of the following would NOT be considered a governmental
influence on value?
employment rates - Answer✔Which would NOT be considered factors in supply analysis?
escheat - Answer✔Which of these would be considered a public restriction on real property
ownership?
3000 - Answer✔The number of required experience hours for Certified General Appraiser
applicants is ____ hours.
Property Rights - Answer✔Real estate includes all of the following EXCEPT
Imperfect - Answer✔The real property market is generally classified as a(n) __________
market.
Salvage - Answer✔The price expected for a whole property, e.g., a house, or a part of a
property, e.g., a plumbing fixture, that is removed from the premises usually for use elsewhere"
is the definition of ____________ value.
market area - Answer✔The geographic region from which a majority of demand comes and
which the majority of the competition is located" is the definition of
1|Page
, ©THESTAR 2025 ALL RIGHTS RESERVED 11:44 AM A+
leased fee interest - Answer✔The ownership interest held by the lessor, which includes the
right to receive the contract rent specified in the lease plus the reversionary right when the
lease expires" is the definition of
leasehold estate - Answer✔The right held by the lessee to use and occupy real estate for a
stated term and under the conditions specified in the lease" is the definition of
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?
Price - Answer✔USPAP defines _________ as the amount asked, offered, or paid for a property.
estimate, opinion - Answer✔Modern definitions of the word "appraisal" have replaced the
word _______ with ________.
vacant land and improved property - Answer✔The principle of highest and best use applies to
FDIC, OCC, FRB - Answer✔The federal financial institutions regulatory agencies directly involved
in fair lending include all of the following
GIS - Answer✔_________ is a computerized mapping system for encoding, retrieving, analyzing
and presenting geographic or spatial data.
omit the client's identity from the report but identify the client in the workfile - Answer✔A
client asks an appraiser to omit the client's identity from the appraisal report. What can the
appraiser do?
transferable development - Answer✔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
FDIC,OCC,FRB - Answer✔The federal financial institutions regulatory agencies directly involved
in fair lending include all of the following
2|Page
