MCKISSOCK BASIC APPRAISAL PRINCIPLES I
FINAL COMPREHENSIVE STUDY GUIDE
◉ consideration, in writing and signed, and lawful objective.
Answer: Which of the below is a requirement of a valid real estate
contract?
◉ capital.
Answer: "The interaction of buyers and sellers who trade long-term
or intermediate-term money instruments" is the definition of the
_____________ market.
◉ market study.
Answer: An analysis of the market conditions of supply, demand, and
pricing for a specific property type in a specific area" is the
definition of
◉ market.
Answer: A gathering of people for the buying and selling of things" is
the definition of
◉ real estate.
,Answer: Which of the following types of investments has historically
generated the highest return on investment?
◉ except property rights.
Answer: Real estate includes all of the following EXCEPT
◉ Impartiality, objectivity, and independence.
Answer: The Conduct Section of the ETHICS RULE states, in part,
that an appraiser must perform assignments with
◉ except assessors.
Answer: All of the following could be participants in a real property
market EXCEPT
◉ EDI, PDF.
Answer: Twenty years ago, most appraisal reports that were sent
electronically were sent using _____ technology; today, most
appraisals are sent electronically using a _______ format.
◉ not enough information to determine.
Answer: A property is owned as tenancy in severalty. How many
owners are there?
, ◉ cooperative.
Answer: What type of property ownership is characterized by the
purchase of shares of stock in a corporation, which provides a
proprietary lease to occupy an apartment unit?
◉ executory.
Answer: A(n) __________ contract is one that is not been fully
performed or completed.
◉ estimate, opinion.
Answer: Modern definitions of the word "appraisal" have replaced
the word _______ with ________.
◉ leased fee interest.
Answer: The ownership interest held by the lessor, which includes
the right to receive the contract rent specified in the lease plus the
reversionary right when the lease expires" is the definition of
◉ encroachment.
Answer: Trespassing on the domain of another" is the definition of
◉ district.
FINAL COMPREHENSIVE STUDY GUIDE
◉ consideration, in writing and signed, and lawful objective.
Answer: Which of the below is a requirement of a valid real estate
contract?
◉ capital.
Answer: "The interaction of buyers and sellers who trade long-term
or intermediate-term money instruments" is the definition of the
_____________ market.
◉ market study.
Answer: An analysis of the market conditions of supply, demand, and
pricing for a specific property type in a specific area" is the
definition of
◉ market.
Answer: A gathering of people for the buying and selling of things" is
the definition of
◉ real estate.
,Answer: Which of the following types of investments has historically
generated the highest return on investment?
◉ except property rights.
Answer: Real estate includes all of the following EXCEPT
◉ Impartiality, objectivity, and independence.
Answer: The Conduct Section of the ETHICS RULE states, in part,
that an appraiser must perform assignments with
◉ except assessors.
Answer: All of the following could be participants in a real property
market EXCEPT
◉ EDI, PDF.
Answer: Twenty years ago, most appraisal reports that were sent
electronically were sent using _____ technology; today, most
appraisals are sent electronically using a _______ format.
◉ not enough information to determine.
Answer: A property is owned as tenancy in severalty. How many
owners are there?
, ◉ cooperative.
Answer: What type of property ownership is characterized by the
purchase of shares of stock in a corporation, which provides a
proprietary lease to occupy an apartment unit?
◉ executory.
Answer: A(n) __________ contract is one that is not been fully
performed or completed.
◉ estimate, opinion.
Answer: Modern definitions of the word "appraisal" have replaced
the word _______ with ________.
◉ leased fee interest.
Answer: The ownership interest held by the lessor, which includes
the right to receive the contract rent specified in the lease plus the
reversionary right when the lease expires" is the definition of
◉ encroachment.
Answer: Trespassing on the domain of another" is the definition of
◉ district.
