Appraisal Basic Principals
Chapter 1 Questions and
Complete Solutions Graded A+
An appraiser is defined as "one who is expected to perform valuation services _________, and in a
manner that is independent, impartial, and objective." - Answer: Competent
True or False: When completing an appraisal assignment, an appraiser may be an advocate for one
party's interest - Answer: False
True or False: All appraisals are performed for mortgage lending purposes. - Answer: False
. Which characteristic would NOT be associated with a good appraiser? - Answer: Biased
Which college-level course would probably be LEAST helpful to an appraiser? - Answer: Bio, Crim
True or False: A course in sociology would probably not be beneficial to an appraiser. - Answer: False
True or False: When completing an appraisal assignment, an appraiser may be an advocate for one
party's interest. - Answer: False
An applicant who wishes to become a Certified Residential appraiser must have accumulated a
minimum of ______ hours of appraisal education. - Answer: 200
A licensed or certified appraiser must take the 7-hour USPAP Update course - Answer: Every 2 years
True or False: An applicant for Certified General appraiser must possess at least an associate's degree
from an accredited college or university. - Answer: False
, A certified residential appraiser needs ____ hours of continuing education per year to renew his or her
certification? - Answer: 14
The current requirements for real property appraiser licensing and certification went into effect on -
Answer: January 1, 2015
True or False: Every state's appraiser certification examination is different. - Answer: False
True or False: An applicant for Certified General appraiser must possess at least an associate's degree
from an accredited college or university. - Answer: False
Which entity is responsible for establishing the requirements to become an appraiser? - Answer: AQB
An applicant for Certified General Appraiser must obtain _______ experience hours in no fewer than
_____ months. - Answer: 3000, 30
How many experience hours are required to become a certified residential appraiser? - Answer: 2500
hours in no fewer than 24 months
True or False: A state licensed residential appraiser may not supervise an appraisal trainee. - Answer:
True
True or False: The end of the U.S. housing boom meant that appraisal business dropped significantly
across the country. - Answer: False
True or False: A state licensed residential appraiser may not supervise an appraisal trainee. - Answer:
True
The appraisal of what type of property is more likely to be affected by local neighborhood conditions -
Answer: A single family home
Chapter 1 Questions and
Complete Solutions Graded A+
An appraiser is defined as "one who is expected to perform valuation services _________, and in a
manner that is independent, impartial, and objective." - Answer: Competent
True or False: When completing an appraisal assignment, an appraiser may be an advocate for one
party's interest - Answer: False
True or False: All appraisals are performed for mortgage lending purposes. - Answer: False
. Which characteristic would NOT be associated with a good appraiser? - Answer: Biased
Which college-level course would probably be LEAST helpful to an appraiser? - Answer: Bio, Crim
True or False: A course in sociology would probably not be beneficial to an appraiser. - Answer: False
True or False: When completing an appraisal assignment, an appraiser may be an advocate for one
party's interest. - Answer: False
An applicant who wishes to become a Certified Residential appraiser must have accumulated a
minimum of ______ hours of appraisal education. - Answer: 200
A licensed or certified appraiser must take the 7-hour USPAP Update course - Answer: Every 2 years
True or False: An applicant for Certified General appraiser must possess at least an associate's degree
from an accredited college or university. - Answer: False
, A certified residential appraiser needs ____ hours of continuing education per year to renew his or her
certification? - Answer: 14
The current requirements for real property appraiser licensing and certification went into effect on -
Answer: January 1, 2015
True or False: Every state's appraiser certification examination is different. - Answer: False
True or False: An applicant for Certified General appraiser must possess at least an associate's degree
from an accredited college or university. - Answer: False
Which entity is responsible for establishing the requirements to become an appraiser? - Answer: AQB
An applicant for Certified General Appraiser must obtain _______ experience hours in no fewer than
_____ months. - Answer: 3000, 30
How many experience hours are required to become a certified residential appraiser? - Answer: 2500
hours in no fewer than 24 months
True or False: A state licensed residential appraiser may not supervise an appraisal trainee. - Answer:
True
True or False: The end of the U.S. housing boom meant that appraisal business dropped significantly
across the country. - Answer: False
True or False: A state licensed residential appraiser may not supervise an appraisal trainee. - Answer:
True
The appraisal of what type of property is more likely to be affected by local neighborhood conditions -
Answer: A single family home
