PRINCIPLES OF APPRAISAL QUESTION AND ANSWERS
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UPDATE.
✅In a trust deed state, title to a property is vested in the __________ until the mortgage lien
is satisfied.. Answer:trustee
✅In analyzing a real estate purchase contract you should be able to find all of the following
items EXCEPT. Answer:prior transfer date and purchase price
✅Which is NOT an economic force affecting property values?. Answer:transportation
✅A homeowner fears the construction of a factory nearby will decrease the value of her
property. This illustrates the principle of. Answer:externalities
✅You purchased a house two years ago for $190,000. It has appreciated an average of 3%
per year since the time of purchase. What is its current value?. Answer:$201,571
✅Who is responsible for appointing members to the ASB and AQB?. Answer:the Board of
Trustees
✅Which is NOT a requirement of a valid deed?. Answer:must be recorded
✅The primary operators in the secondary mortgage market include all of the following
EXCEPT. Answer:FHA
✅"An active market in which the sellers of available properties can obtain higher prices than
those obtainable in the immediately preceding period; a market in which a few available
, properties are demanded at prevailing prices by many users and potential users" is the
definition of a(n) __________ market.. Answer:seller's
✅A(n) __________ contract is one that is not been fully performed or completed..
Answer:executory
✅A purchaser bought a property for $176,000, put 10% down and borrowed the rest at
6.5% interest for 25 years. The lender charged 1.75 points at the closing. How much was paid
for the points?. Answer:$2,772
✅Which is NOT true concerning the highest and best use of land as though vacant?.
Answer:this analysis can only be applied if there are no existing improvements
✅All of the following would be considered to be economic influences on value EXCEPT.
Answer:zoning
✅Your property, which consists of a house and lot, is valued at $244,000. You want to
insure it for 80% of value and the annual insurance premium will cost $5.75 per thousand.
How much will your insurance cost per month?. Answer:$93.53
✅USPAP defines _________ as the amount asked, offered, or paid for a property..
Answer:price
✅"A business arrangement in which two or more persons jointly own a business and share
in its profits and losses" is the definition of. Answer:partnership
✅A circle contains _______ degrees.. Answer:360
✅"A firm agreement to perform an act, refrain from acting or make a payment or delivery"
is the definition of. Answer:promise
✅Low interest rates encourage __________, while high interest rates encourage _________..
Answer:borrowing, saving
BEST RATED A+ GUARANTEED SUCCESS LATEST
UPDATE.
✅In a trust deed state, title to a property is vested in the __________ until the mortgage lien
is satisfied.. Answer:trustee
✅In analyzing a real estate purchase contract you should be able to find all of the following
items EXCEPT. Answer:prior transfer date and purchase price
✅Which is NOT an economic force affecting property values?. Answer:transportation
✅A homeowner fears the construction of a factory nearby will decrease the value of her
property. This illustrates the principle of. Answer:externalities
✅You purchased a house two years ago for $190,000. It has appreciated an average of 3%
per year since the time of purchase. What is its current value?. Answer:$201,571
✅Who is responsible for appointing members to the ASB and AQB?. Answer:the Board of
Trustees
✅Which is NOT a requirement of a valid deed?. Answer:must be recorded
✅The primary operators in the secondary mortgage market include all of the following
EXCEPT. Answer:FHA
✅"An active market in which the sellers of available properties can obtain higher prices than
those obtainable in the immediately preceding period; a market in which a few available
, properties are demanded at prevailing prices by many users and potential users" is the
definition of a(n) __________ market.. Answer:seller's
✅A(n) __________ contract is one that is not been fully performed or completed..
Answer:executory
✅A purchaser bought a property for $176,000, put 10% down and borrowed the rest at
6.5% interest for 25 years. The lender charged 1.75 points at the closing. How much was paid
for the points?. Answer:$2,772
✅Which is NOT true concerning the highest and best use of land as though vacant?.
Answer:this analysis can only be applied if there are no existing improvements
✅All of the following would be considered to be economic influences on value EXCEPT.
Answer:zoning
✅Your property, which consists of a house and lot, is valued at $244,000. You want to
insure it for 80% of value and the annual insurance premium will cost $5.75 per thousand.
How much will your insurance cost per month?. Answer:$93.53
✅USPAP defines _________ as the amount asked, offered, or paid for a property..
Answer:price
✅"A business arrangement in which two or more persons jointly own a business and share
in its profits and losses" is the definition of. Answer:partnership
✅A circle contains _______ degrees.. Answer:360
✅"A firm agreement to perform an act, refrain from acting or make a payment or delivery"
is the definition of. Answer:promise
✅Low interest rates encourage __________, while high interest rates encourage _________..
Answer:borrowing, saving
