MCKISSOCK LEARNING - g g
gBASIC APPRAISAL PRINCIPLES QUE
g g g
STIONS WITH CORRECT ANSWERS.
g g g
"Agdocumentgorgagclausegingagdocumentgingwhichgthegborrowergacceptsgresponsibilitygforgt
hegrepaymentgofgagdebt"gisgthegdefinitiongof:gA)gCC&RgB)gbondgC)gmortgagegnotegD)gdebtg-
gANSWER-gmortgagegnote
"Thegearth'sgsurface,gbothglandgandgwater,gandganythinggthatgisgattachedgtogitgwhethergbygt
hegcoursegofgnaturegorghumanghands"gisgthegdefinitiongof:gA)glandgB)gsitegC)gwatergD)grealg
propertyg-gANSWER-gA
Thegpublicgrestrictiongongpropertygrightsgthatgallowsgtheggovernmentgtogplacegagliengongagp
ropertygis:gA)gescheatgB)gcaveatgemptorgC)gtaxationgD)gnonegofgthegaboveg-gANSWER-
gtaxation
Physicalglandgandgappurtenancesgattachedgtogtheglandgisgthegdefinitiongof:gA)grealgproperty
gB)gpersonalgpropertygC)gfixturegD)grealgestateg-gANSWER-grealgestate
"Agdevelopmentgrightgthatgcannotgbegusedgbygtheglandowner,gorgthatgthegownergchoosesgno
tgtoguse,gbutgcangbegsoldgtoglandownersginganotherglocation"garegcalledg_____________
______grights.:gA)gverticalgB)gpassivegC)gtemporarygD)gtransferablegdevelopmentg-
gANSWER-gtransferablegdevelopment
"Theginterests,gbenefits,gandgrights,ginherentgingthegownershipgofgrealgestate"gisgthegdefinit
iongof:gA)grealgestategB)gpersonalgpropertygC)grealgpropertygD)gintangiblegpropertyg-
gANSWER-grealgproperty
PolicegpowergwouldgincludegallgofgthegfollowinggEXCEPT:gA)gbuildinggcodesgB)gzoninggC)gt
axationgD)gfiregcodesg-gANSWER-gtaxation
AnothergnamegforgtradegfixturegisgA)gemblementgB)gchattelgmortgagegC)gattachmentgD)gch
attelgfixtureg-gANSWER-gchattelgfixture
WhichgisgNOTgagpublicgrestrictiongofgprivategpropertygrights?gA)gtaxationgB)geasementgC)g
policegpowergD)gescheatg-gANSWER-geasement
Angappraisalgisga(gn)g____________gofgvalue.gA)gguaranteegB)gpredictiongC)gopiniogD)gs
ummaryg-gANSWER-gopinion
, Thegrightgofggovernmentgthatggivesgthegstategtitulargownershipgofgagpropertygwhengitsgown
ergdiesgwithoutgagwillgorganygascertainablegheirsgisgcalled:gA)geminentgdomaingB)gcondemn
ationgC)gaccrualgD)gescheatg-gANSWER-gescheat
Physicalglandgandgappurtenancesgattachedgtogtheglandgisgthegdefinitiongof:gA)grealgproperty
gB)gpersonalgpropertygC)gfixturegD)grealgestateg-gANSWER-grealgestate
"Thegrightgtogconstructgandgmaintaingtunnels,gsubways,gsubcellars,gpipelines,gsewers,getc.
"gisgthegdefinitiongofg___________grights.gA)gchattelgB)gsubsurfacegC)gsurfacegD)airg-
gANSWER-gsubsurface
PublicglimitationsgongprivategpropertygrightsgincludegallgofgthegfollowinggEXCEPTgA)CC&
RsgB)taxationgC)eminentgdomaingD)escheatg-gANSWER-gCC&Rs
WhichgwouldgNOTgbegagcharacteristicgofgaggoodgappraisal?gA)gconcisegB)gunsupported
C)gaccurate
D)gunbiasedg-gANSWER-gunsupported
"Thegpartygorgpartiesgwhogengage,gbygemploymentgorgcontract,gangappraisergingagspecificga
ssignment"gisgthegdefinitiongofgA)ghomeowner
B)glender
C)gintendedguser
D)gclientg-gANSWER-gclient
Aglegalgdescriptiongisgdefinedgasg-gANSWER-
g"Agdescriptiongofglandgthatgidentifiesgthegrealgestategaccordinggtogagsystemgestablishedgorg
approvedgbyglaw;gangexactgdescriptiongthatgenablesgthegrealgestategtogbeglocatedgandgidenti
fied."
Thegthreegmostgcommongsystemsgofglegalgdescriptionsgare:g-gANSWER-g-Lotgandgblock
-Metesgandgbounds
-Rectangulargsurvey
Theglotgandgblockgsystemgisgdefinedgasg(uselessgwithoutgagmap)g-gANSWER-
g"Agsystemgforgtheglegalgdescriptiongofglandgthat grefersgtogparcels'glotgandgblockgnumbers,g
whichgappeargongrecordedgmapsgandgplatsgofgsubdividedgland;gmaygalsogbegusedgforgassess
mentgmaps."
Theglotgandgblockgsystemgisgthegmostgrecentgofgthegsystemsgofglegalgdescription.gItgcamegint
ogcommongusagegingtheg1950sgwithgthegdevelopmentgofglargegsubdivisions.gAglotgandgblock
gdescriptiongmightgconsistgofgsomethingglikeg"Lotg72,gingBlockg13,gofgSectiong10gongMapg#1
256."
Metesgandgboundsgisgdefinedgasg-gANSWER-
g"Agsystemgforgtheglegalgdescriptiongofglandgthat grefersgtogthegparcel'sgboundaries,gwhichgar
egformedgbygthegpointgofgbeginningg(POB)gandgallgintermediategpointsg(bounds)gandgthegc
oursesgorgangulargdirectiongofgeachgpointg(metes)."
gBASIC APPRAISAL PRINCIPLES QUE
g g g
STIONS WITH CORRECT ANSWERS.
g g g
"Agdocumentgorgagclausegingagdocumentgingwhichgthegborrowergacceptsgresponsibilitygforgt
hegrepaymentgofgagdebt"gisgthegdefinitiongof:gA)gCC&RgB)gbondgC)gmortgagegnotegD)gdebtg-
gANSWER-gmortgagegnote
"Thegearth'sgsurface,gbothglandgandgwater,gandganythinggthatgisgattachedgtogitgwhethergbygt
hegcoursegofgnaturegorghumanghands"gisgthegdefinitiongof:gA)glandgB)gsitegC)gwatergD)grealg
propertyg-gANSWER-gA
Thegpublicgrestrictiongongpropertygrightsgthatgallowsgtheggovernmentgtogplacegagliengongagp
ropertygis:gA)gescheatgB)gcaveatgemptorgC)gtaxationgD)gnonegofgthegaboveg-gANSWER-
gtaxation
Physicalglandgandgappurtenancesgattachedgtogtheglandgisgthegdefinitiongof:gA)grealgproperty
gB)gpersonalgpropertygC)gfixturegD)grealgestateg-gANSWER-grealgestate
"Agdevelopmentgrightgthatgcannotgbegusedgbygtheglandowner,gorgthatgthegownergchoosesgno
tgtoguse,gbutgcangbegsoldgtoglandownersginganotherglocation"garegcalledg_____________
______grights.:gA)gverticalgB)gpassivegC)gtemporarygD)gtransferablegdevelopmentg-
gANSWER-gtransferablegdevelopment
"Theginterests,gbenefits,gandgrights,ginherentgingthegownershipgofgrealgestate"gisgthegdefinit
iongof:gA)grealgestategB)gpersonalgpropertygC)grealgpropertygD)gintangiblegpropertyg-
gANSWER-grealgproperty
PolicegpowergwouldgincludegallgofgthegfollowinggEXCEPT:gA)gbuildinggcodesgB)gzoninggC)gt
axationgD)gfiregcodesg-gANSWER-gtaxation
AnothergnamegforgtradegfixturegisgA)gemblementgB)gchattelgmortgagegC)gattachmentgD)gch
attelgfixtureg-gANSWER-gchattelgfixture
WhichgisgNOTgagpublicgrestrictiongofgprivategpropertygrights?gA)gtaxationgB)geasementgC)g
policegpowergD)gescheatg-gANSWER-geasement
Angappraisalgisga(gn)g____________gofgvalue.gA)gguaranteegB)gpredictiongC)gopiniogD)gs
ummaryg-gANSWER-gopinion
, Thegrightgofggovernmentgthatggivesgthegstategtitulargownershipgofgagpropertygwhengitsgown
ergdiesgwithoutgagwillgorganygascertainablegheirsgisgcalled:gA)geminentgdomaingB)gcondemn
ationgC)gaccrualgD)gescheatg-gANSWER-gescheat
Physicalglandgandgappurtenancesgattachedgtogtheglandgisgthegdefinitiongof:gA)grealgproperty
gB)gpersonalgpropertygC)gfixturegD)grealgestateg-gANSWER-grealgestate
"Thegrightgtogconstructgandgmaintaingtunnels,gsubways,gsubcellars,gpipelines,gsewers,getc.
"gisgthegdefinitiongofg___________grights.gA)gchattelgB)gsubsurfacegC)gsurfacegD)airg-
gANSWER-gsubsurface
PublicglimitationsgongprivategpropertygrightsgincludegallgofgthegfollowinggEXCEPTgA)CC&
RsgB)taxationgC)eminentgdomaingD)escheatg-gANSWER-gCC&Rs
WhichgwouldgNOTgbegagcharacteristicgofgaggoodgappraisal?gA)gconcisegB)gunsupported
C)gaccurate
D)gunbiasedg-gANSWER-gunsupported
"Thegpartygorgpartiesgwhogengage,gbygemploymentgorgcontract,gangappraisergingagspecificga
ssignment"gisgthegdefinitiongofgA)ghomeowner
B)glender
C)gintendedguser
D)gclientg-gANSWER-gclient
Aglegalgdescriptiongisgdefinedgasg-gANSWER-
g"Agdescriptiongofglandgthatgidentifiesgthegrealgestategaccordinggtogagsystemgestablishedgorg
approvedgbyglaw;gangexactgdescriptiongthatgenablesgthegrealgestategtogbeglocatedgandgidenti
fied."
Thegthreegmostgcommongsystemsgofglegalgdescriptionsgare:g-gANSWER-g-Lotgandgblock
-Metesgandgbounds
-Rectangulargsurvey
Theglotgandgblockgsystemgisgdefinedgasg(uselessgwithoutgagmap)g-gANSWER-
g"Agsystemgforgtheglegalgdescriptiongofglandgthat grefersgtogparcels'glotgandgblockgnumbers,g
whichgappeargongrecordedgmapsgandgplatsgofgsubdividedgland;gmaygalsogbegusedgforgassess
mentgmaps."
Theglotgandgblockgsystemgisgthegmostgrecentgofgthegsystemsgofglegalgdescription.gItgcamegint
ogcommongusagegingtheg1950sgwithgthegdevelopmentgofglargegsubdivisions.gAglotgandgblock
gdescriptiongmightgconsistgofgsomethingglikeg"Lotg72,gingBlockg13,gofgSectiong10gongMapg#1
256."
Metesgandgboundsgisgdefinedgasg-gANSWER-
g"Agsystemgforgtheglegalgdescriptiongofglandgthat grefersgtogthegparcel'sgboundaries,gwhichgar
egformedgbygthegpointgofgbeginningg(POB)gandgallgintermediategpointsg(bounds)gandgthegc
oursesgorgangulargdirectiongofgeachgpointg(metes)."
