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Sales Comparison Approach McKissock Class 2023 Questions and Answers 100% Verified 
What is created in the mind of an individual or market participant? - ANS Value 
 
What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? - ANS Desire 
 
As the term applies to appraisal, transferability refers to the number of goods and services that can be purchased with a unit of currency. (T/F) - ANS True 
 
What does not include physical mobility, but...
Supervisor-Trainee Course for Ohio McKissock Practice Questions and Answers 
 Currently, what is the annual national registry fee per appraiser? - ANS $40 
 
The Dodd-Frank Act of 2010 requires the ASC to create and maintain a national registry of: - ANS Appraisal management companies 
 
Which statement BEST describes The Appraisal Foundation? - ANS It is a non-profit organization established for educational and scientific purposes. 
 
Which law mandated that all states must establish a program ...
McKissock - General Report Writing and Case Studies 
Appraisal - "(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 
 
Report - any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. 2 
 
Client - "The party or parties who enga...
Appraisal Procedures - Mckissock Quiz Questions and Answers 2023 
True or False: An appraiser's client must always directly engage the appraiser. - ANS False 
 
A step-by-step procedure that can be applied to any type of appraisal assignment is - ANS The valuation process 
 
True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. - ANS False 
 
"An assignment-specific assumption, as of the effective date, which, if found to be ...
McKissock Appraisal Procedures Actual Questions and Answers 
 A single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was $1,200. What is the GRM indicated by this sale? - ANS 105.0 
 
A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The current cost index is 201.8. What is the indicated cost new of the building today? - ANS $1,138,842 
 
Property that fronts on a lake is usually valued on a basis of price per ...
15-hour National USPAP Course - McKissock 2023 Questions and Answers Passed 
USPAP contains what 4 sections? - ANS 1) The Preamble 
2) Definitions 
3) Rules 
4) Standards 
 
USPAP Provides... - ANS 1. A common basis for comparison 
2. A reference source for all users of the document 
3. A basis for uniform enforcement for state regulatory agencies 
4. A reason for clients, other intended users, and the public to place their trust in the services performed by professional appraisers 
 
What year ...
Basic Appraisal Procedures - McKissock Study guide with complete solution 
Valuation process - ANS A systematic procedure used in the valuation of real property. 
 
Client - ANS The party or parties who engage, by employment or contract, an appraiser in a specific assignment. 
 
Steps in Defining the problem - ANS Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of ...
mckissock basic appraisal principles study guide with complete solution 
grant deed - ANS deed containing, or having implied by law, some but not all of the usual covenants of title 
 
Appraiser - ANS One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. 
 
report - ANS any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion ...
McKissock Basic Appraisal Principles I Final Exam Quiz practice test 2023 Questions and Answers Complete 
The _____ has oversight authority over state appraisal boards. - ANS ASC (Appraisal Subcommittee) 
 
Which of the below is a requirement of a valid real estate contract? - ANS consideration, in writing and signed, and lawful objective 
 
"The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. - ANS ca...
USPAP Chapter 1,2,4,5,6,10 and 11 with complete solution