Real Estate
Real Estate Appraisal Questions
And Answers Latest Update
FIRREA—Financial Institutions Reform, Recovery, and Enforcement
Act of 1989 - correct answers -Required banks to get appraisals
on most properties.
-Required that certified appraisers be used to perform appraisals
-Required that states follow Appraisal Foundation requirements in
order to certify appraisers.
Real Estate - correct answers a particular piece of land and
anything that is permanently attached to it.
Real Estate appraisal - correct answers an opinion of value for a
piece of land and its attachments
What makes RE unique? - correct answers immobility
Appraiser
Qualifications Board - correct answers sets minimum
qualifications for appraiser licensing and certification
Appraisal
Standards Board - correct answers defines terms and sets
minimum requirements for appraisal reports
Real Estate Appraisal Questions And Answers Latest Update
, Real Estate
Appraiser Trainee - correct answers -75 hours of classes
-can only appraise under the direct supervision of a certified
appraiser
Licensed Real Estate Appraiser - correct answers -150 hours of
classes, 2000 hours experience & pass a licensure exam
-can appraise single family homes (up to $1 million and 1-4 family
properties up to $250,000)
Certified Residential Appraiser - correct answers -200 classroom
hours, Associates Degree, 2500 hours experience, exam
-can appraise all single family and 1-4 family properties
Certified General Appraiser - correct answers -300 classroom
hours, Bachelor's degree, 3000 hours (1500 non-residential),
exam
-can appraise all types of property
****Uniform Standards of Professional Appraisal Practice (USPAP) -
correct answers the "rules" by which appraisers must do their
jobs. (Ethical Guidelines)
Economic Stimulus Act of 2008 - correct answers made it easier to
get certain loans and increased the scrutiny of all loans.
Real Estate Appraisal Questions And Answers Latest Update
Real Estate Appraisal Questions
And Answers Latest Update
FIRREA—Financial Institutions Reform, Recovery, and Enforcement
Act of 1989 - correct answers -Required banks to get appraisals
on most properties.
-Required that certified appraisers be used to perform appraisals
-Required that states follow Appraisal Foundation requirements in
order to certify appraisers.
Real Estate - correct answers a particular piece of land and
anything that is permanently attached to it.
Real Estate appraisal - correct answers an opinion of value for a
piece of land and its attachments
What makes RE unique? - correct answers immobility
Appraiser
Qualifications Board - correct answers sets minimum
qualifications for appraiser licensing and certification
Appraisal
Standards Board - correct answers defines terms and sets
minimum requirements for appraisal reports
Real Estate Appraisal Questions And Answers Latest Update
, Real Estate
Appraiser Trainee - correct answers -75 hours of classes
-can only appraise under the direct supervision of a certified
appraiser
Licensed Real Estate Appraiser - correct answers -150 hours of
classes, 2000 hours experience & pass a licensure exam
-can appraise single family homes (up to $1 million and 1-4 family
properties up to $250,000)
Certified Residential Appraiser - correct answers -200 classroom
hours, Associates Degree, 2500 hours experience, exam
-can appraise all single family and 1-4 family properties
Certified General Appraiser - correct answers -300 classroom
hours, Bachelor's degree, 3000 hours (1500 non-residential),
exam
-can appraise all types of property
****Uniform Standards of Professional Appraisal Practice (USPAP) -
correct answers the "rules" by which appraisers must do their
jobs. (Ethical Guidelines)
Economic Stimulus Act of 2008 - correct answers made it easier to
get certain loans and increased the scrutiny of all loans.
Real Estate Appraisal Questions And Answers Latest Update
