APPRAISAL FINAL EXAM 2026 UPDATE QUESTIONS
AND CORRECT VERIFIED ANSWERS ALREADY
GRADED A+ (BRAND NEW VISION)
In the appraisal of the house for lending purposes, the client would most likely expect the
appraisal report to be submitted on a standardized form like the Uniform Residential Appraisal
Report (Form 1004) - ANS-True
The appraiser answers the question of how by determining the scope of work - ANS-True
is the type and extent of research and analysis in an assignment - ANS-Scope of work
The scope of work discussion should address which of the following topic areas - ANS-All of the
above
It is best to avoid boilerplate scope of work discussions in appraisal reports - ANS-True
Unit of comparison ratios - ANS-All of the above
Generally, the least reliable sources of sales data are - ANS-Newspapers
Demand for housing is affected when - ANS-zoning laws restrict new construction to the point
that not enough homes are built
,If the subject property is 10% superior to the Comparable sale #1 and the comparable sold for
$100,000, what is the indicated value of the subject - ANS-100,000 x 1.1= 110,000
If a property has a market value of $56,000 in a city that charges a millage rate of 75 mills and
applies an assessment ratio of 25%, what is the annual real estate taxes for this property - ANS-
1,050
The comparative advantages of a region or a community may be attributed to all the following
except - ANS-the availability of natural resource
Improvement cost data can be obtained from - ANS-All of the above
Rental rates for residential space tend to increase when
The economy expands - ANS-The size and age of the house
Which of the following is an example of primary data - ANS-Property deeds
When the percentage of disposable income spent on goods and services increases, demand for
commercial and industrial real estate - ANS-Increases
Subtracting an improvement current market value from its cost new indicates - ANS-Accrued
depreciation
The assessment ratio is - ANS-The ratio of assessed value to market value
Ten mills equals - ANS-.01
, In the appraisal of a farm, one significant attribute is - ANS-The soil type and drainage and/or
water supply
Assessed value is usually based on, but not necessarily equivalent to, a property's - ANS-Market
If a comparable property is 10% superior to the subject property and the comparable sold for
$100,000, what is the indicated value of the subject - ANS-$100,000/1.10 = $90,909
Real estate sales in a specific area are most directly affected by - ANS-Local interest rates
The federal reserve system mechanically regulated the supply of money using three of the
following measures, but It has been reluctant to - ANS-devaluate the dollar on currency
exchanges
When in inflation is high, investors tend to avoid - ANS-Long term investments
Long-term monetary instruments are traded in __ markets - ANS-(not Stock or money )
The transfer of money from low interest bearing accounts to higher interest bearing accounts is
referred to as - ANS-destabilization
Capital market instruments include all of the following except - ANS-Treasury bills
the federal discount rate, which is the interest rate banks pay on the funds they borrow, is
directly related to - ANS-(not the inflation rate)
the most powerful credit regulating device used by the federal reserve is - ANS-(not the federal
discount rate )
AND CORRECT VERIFIED ANSWERS ALREADY
GRADED A+ (BRAND NEW VISION)
In the appraisal of the house for lending purposes, the client would most likely expect the
appraisal report to be submitted on a standardized form like the Uniform Residential Appraisal
Report (Form 1004) - ANS-True
The appraiser answers the question of how by determining the scope of work - ANS-True
is the type and extent of research and analysis in an assignment - ANS-Scope of work
The scope of work discussion should address which of the following topic areas - ANS-All of the
above
It is best to avoid boilerplate scope of work discussions in appraisal reports - ANS-True
Unit of comparison ratios - ANS-All of the above
Generally, the least reliable sources of sales data are - ANS-Newspapers
Demand for housing is affected when - ANS-zoning laws restrict new construction to the point
that not enough homes are built
,If the subject property is 10% superior to the Comparable sale #1 and the comparable sold for
$100,000, what is the indicated value of the subject - ANS-100,000 x 1.1= 110,000
If a property has a market value of $56,000 in a city that charges a millage rate of 75 mills and
applies an assessment ratio of 25%, what is the annual real estate taxes for this property - ANS-
1,050
The comparative advantages of a region or a community may be attributed to all the following
except - ANS-the availability of natural resource
Improvement cost data can be obtained from - ANS-All of the above
Rental rates for residential space tend to increase when
The economy expands - ANS-The size and age of the house
Which of the following is an example of primary data - ANS-Property deeds
When the percentage of disposable income spent on goods and services increases, demand for
commercial and industrial real estate - ANS-Increases
Subtracting an improvement current market value from its cost new indicates - ANS-Accrued
depreciation
The assessment ratio is - ANS-The ratio of assessed value to market value
Ten mills equals - ANS-.01
, In the appraisal of a farm, one significant attribute is - ANS-The soil type and drainage and/or
water supply
Assessed value is usually based on, but not necessarily equivalent to, a property's - ANS-Market
If a comparable property is 10% superior to the subject property and the comparable sold for
$100,000, what is the indicated value of the subject - ANS-$100,000/1.10 = $90,909
Real estate sales in a specific area are most directly affected by - ANS-Local interest rates
The federal reserve system mechanically regulated the supply of money using three of the
following measures, but It has been reluctant to - ANS-devaluate the dollar on currency
exchanges
When in inflation is high, investors tend to avoid - ANS-Long term investments
Long-term monetary instruments are traded in __ markets - ANS-(not Stock or money )
The transfer of money from low interest bearing accounts to higher interest bearing accounts is
referred to as - ANS-destabilization
Capital market instruments include all of the following except - ANS-Treasury bills
the federal discount rate, which is the interest rate banks pay on the funds they borrow, is
directly related to - ANS-(not the inflation rate)
the most powerful credit regulating device used by the federal reserve is - ANS-(not the federal
discount rate )
