Basic Appraisal Principles EXAM ACTUAL
Questions and CORRECT Answers
Which of these would be considered a public restriction on real property ownership? -
CORRECT ANSWER - Escheat
The ________ established new criteria for appraiser education that went into effect in _______. -
CORRECT ANSWER - AQB 2008
Under the current qualifying education criteria, there are college-level course requirements for
__________ classifications. - CORRECT ANSWER - All
The ______ publishes "other information" in the form of Advisory Opinions and USPAP FAQs. -
CORRECT ANSWER - ASB
Who retains final authority over revisions to USPAP? - CORRECT ANSWER - The Appraisal
Standards Board
Acceptance may occur as - CORRECT ANSWER - Either express act or implied act
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? - CORRECT ANSWER - there is a three-
year supply of homes currently for sale
The federal financial institutions regulatory agencies directly involved in fair lending include all
of the following EXCEPT - CORRECT ANSWER - ASB
A market study is a ____________ study, where a marketability study is a ______________
study. - CORRECT ANSWER - Macro Micro
Questions and CORRECT Answers
Which of these would be considered a public restriction on real property ownership? -
CORRECT ANSWER - Escheat
The ________ established new criteria for appraiser education that went into effect in _______. -
CORRECT ANSWER - AQB 2008
Under the current qualifying education criteria, there are college-level course requirements for
__________ classifications. - CORRECT ANSWER - All
The ______ publishes "other information" in the form of Advisory Opinions and USPAP FAQs. -
CORRECT ANSWER - ASB
Who retains final authority over revisions to USPAP? - CORRECT ANSWER - The Appraisal
Standards Board
Acceptance may occur as - CORRECT ANSWER - Either express act or implied act
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? - CORRECT ANSWER - there is a three-
year supply of homes currently for sale
The federal financial institutions regulatory agencies directly involved in fair lending include all
of the following EXCEPT - CORRECT ANSWER - ASB
A market study is a ____________ study, where a marketability study is a ______________
study. - CORRECT ANSWER - Macro Micro
