MCKISSOCK APPRAISAL PRINCIPLES 2025/2026
QUESTIONS WITH ANSWERS MARKED A+
✔✔regression - ✔✔"In appraisal, the concept that a higher-priced property will be worth
less in a lower-priced neighborhood than it would in a neighborhood of comparable
properties" is the definition of the principle of
✔✔depressed - ✔✔"A market in which a drop in demand is accompanied by a relative
oversupply and a decline in prices" is the definition of a(n) __________ market.
✔✔written or oral, client - ✔✔An appraisal report is defined as "the ____________
communication of an appraisal; the document transmitted to the __________upon
completion of an appraisal assignment."
✔✔contribution - ✔✔When estimating the value of a fireplace in a single-family home,
the most important principle is the principle of
✔✔estate - ✔✔"A right or interest in property" is a(n)
✔✔nowhere - ✔✔In USPAP, the word "Ethics" is defined
✔✔contribution - ✔✔Eric pays $35,000 to have an inground swimming pool constructed
in his back yard. When he sells the property, he only receives $10,000 more for his
property than what similar property sold for without a pool. This is an example of the
principle of
✔✔ASC - ✔✔The ______ maintains a National Registry of appraisers.
✔✔Appraisal Standards Board - ✔✔Which entity is responsible for making periodic
changes to USPAP?
✔✔requires certain documents to be in writing - ✔✔What is the purpose of a state's
statute of frauds?
✔✔governmental - ✔✔Transportation would be an example of a(n) __________ force
affecting property values.
✔✔ASB - ✔✔The ______ publishes "other communications" in the form of Advisory
Opinions and USPAP FAQs.
✔✔license - ✔✔"For real property, a personal, unassignable, and typically revocable
privilege or permit to perform some activity on the land of another without obtaining an
interest in the property" is the definition of
QUESTIONS WITH ANSWERS MARKED A+
✔✔regression - ✔✔"In appraisal, the concept that a higher-priced property will be worth
less in a lower-priced neighborhood than it would in a neighborhood of comparable
properties" is the definition of the principle of
✔✔depressed - ✔✔"A market in which a drop in demand is accompanied by a relative
oversupply and a decline in prices" is the definition of a(n) __________ market.
✔✔written or oral, client - ✔✔An appraisal report is defined as "the ____________
communication of an appraisal; the document transmitted to the __________upon
completion of an appraisal assignment."
✔✔contribution - ✔✔When estimating the value of a fireplace in a single-family home,
the most important principle is the principle of
✔✔estate - ✔✔"A right or interest in property" is a(n)
✔✔nowhere - ✔✔In USPAP, the word "Ethics" is defined
✔✔contribution - ✔✔Eric pays $35,000 to have an inground swimming pool constructed
in his back yard. When he sells the property, he only receives $10,000 more for his
property than what similar property sold for without a pool. This is an example of the
principle of
✔✔ASC - ✔✔The ______ maintains a National Registry of appraisers.
✔✔Appraisal Standards Board - ✔✔Which entity is responsible for making periodic
changes to USPAP?
✔✔requires certain documents to be in writing - ✔✔What is the purpose of a state's
statute of frauds?
✔✔governmental - ✔✔Transportation would be an example of a(n) __________ force
affecting property values.
✔✔ASB - ✔✔The ______ publishes "other communications" in the form of Advisory
Opinions and USPAP FAQs.
✔✔license - ✔✔"For real property, a personal, unassignable, and typically revocable
privilege or permit to perform some activity on the land of another without obtaining an
interest in the property" is the definition of
