Mckissock basic appraisal principles Study guides, Class notes & Summaries

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? - correct answer-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? - correct answer-$1,138,842 Property that fronts on a lake is usually valued on a basis of price per - correct answer-front foot The most ...

An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? - correct answer-The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appraisal that the lender/client's loan did not close. What should the appraiser do regarding the appraisal fee? - correct answer-Charge the agreed-upon fee regardless of whether the loan closed An a...

grant deed - correct answer-deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - correct answer-One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - correct answer-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. narrative report - ...

ASC (Appraisal Subcommittee) correct answers The _____ has oversight authority over state appraisal boards. consideration, in writing and signed, and lawful objective correct answers Which of the below is a requirement of a valid real estate contract? capital correct answers "The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. market study correct answers An analysis of the market conditions o...

Appraisal Standards Board correct answers exercises all authority and power over the subject, style, content, and substance of USPAP grant deed correct answers deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser correct answers One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report correct answers any communication, written or oral, of an appraisal or appraisal ...

An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? correct answers The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appraisal that the lender/client's loan did not close. What should the appraiser do regarding the appraisal fee? correct answers Charge the agreed-upon fee regardless of whether the loan closed An app...

Basic Appraisal Principles Mckissock Exam Questions With 100% Correct Answers promote and maintain, public trust - answerThe intent of USPAP is to ____________ a high level of __________ in professional appraisal practice. wage levels - answerWhich of the following would NOT be considered a governmental influence on value? employment rates - answerWhich would NOT be considered factors in supply analysis? escheat - answerWhich of these would be considered a public restriction on real prope...

Basic Appraisal Principles Final Exam Questions With 100% Correct Answers In a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? - answerthere is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a business and share in its profits and losses" is the definition of - answerpartnertransferable development rightsship Property Owner A...