Basic Appraiser procedure Mckissock
Exam Questions and Answers 100%
Pass
Entrepreneurial Incentive - ✔✔"the amount an entrepreneur expects to receive for his
or her contribution to a project" is the definition of
-Risk Rate
-Builders Profit
-Entrepreneurial Incentive
-Entrepreneurial Risk
Define the problem - ✔✔The first step in the valuation Process is
-List the data needed
-Estimate Land Value
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,-define the problem
-determine the scope of work
$316,400 - ✔✔A house cost $295,000 to build new. It is 5 years old and has sustained a
total of 8% depreciation. It sits on a lot worth $45,000. What is its value by the cost
approach?
-$297,200
-$316,400
-$318,500
-$340,00
Front foot - ✔✔Property that fronts on a lake is usually valued on a basis of price per
-Acre
-Front foot
-fish or animal unit
-Buildable unit
is optional - ✔✔Fannie may says that cost approach
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,-is always required
-is optional
-may not be used
-is required only in 2-4 unit properties
both general and specific data - ✔✔Multiple listing service can be utilized for gathering
-general data only
-both general and specific data
-specific data only
-all data that is needed to produce a credible appraisal
quantity survey - ✔✔Which cost estimating method is the most detailed and time-
consuming to develop?
-index
-quantity survey
-unit-in-place
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, -none of the above
B, duplex site - ✔✔A property contains 2.4 acres and is worth: A. $155,000 as a single
home site B. $85,000 per unit as a site for a duplex and C. $60,000 per acre as a retail site.
All uses are physically possible, economically feasible and legally permitted. Which is
the highest and best use?
-A, single home site
-B, duplex site
-C, retail site
-All are highest and best uses
2-4 unit residential properties - ✔✔Price per room is a common unit of comparison
when appraising
-2-4 unit residential properties
-vacant lots
-one unit residences
-retail stores
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Exam Questions and Answers 100%
Pass
Entrepreneurial Incentive - ✔✔"the amount an entrepreneur expects to receive for his
or her contribution to a project" is the definition of
-Risk Rate
-Builders Profit
-Entrepreneurial Incentive
-Entrepreneurial Risk
Define the problem - ✔✔The first step in the valuation Process is
-List the data needed
-Estimate Land Value
100% Pass Guarantee Emilly Charlotte, All Rights Reserved © 2025 1
,-define the problem
-determine the scope of work
$316,400 - ✔✔A house cost $295,000 to build new. It is 5 years old and has sustained a
total of 8% depreciation. It sits on a lot worth $45,000. What is its value by the cost
approach?
-$297,200
-$316,400
-$318,500
-$340,00
Front foot - ✔✔Property that fronts on a lake is usually valued on a basis of price per
-Acre
-Front foot
-fish or animal unit
-Buildable unit
is optional - ✔✔Fannie may says that cost approach
100% Pass Guarantee Emilly Charlotte, All Rights Reserved © 2025 2
,-is always required
-is optional
-may not be used
-is required only in 2-4 unit properties
both general and specific data - ✔✔Multiple listing service can be utilized for gathering
-general data only
-both general and specific data
-specific data only
-all data that is needed to produce a credible appraisal
quantity survey - ✔✔Which cost estimating method is the most detailed and time-
consuming to develop?
-index
-quantity survey
-unit-in-place
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, -none of the above
B, duplex site - ✔✔A property contains 2.4 acres and is worth: A. $155,000 as a single
home site B. $85,000 per unit as a site for a duplex and C. $60,000 per acre as a retail site.
All uses are physically possible, economically feasible and legally permitted. Which is
the highest and best use?
-A, single home site
-B, duplex site
-C, retail site
-All are highest and best uses
2-4 unit residential properties - ✔✔Price per room is a common unit of comparison
when appraising
-2-4 unit residential properties
-vacant lots
-one unit residences
-retail stores
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