Basic Appraisal Principles Exam Questions and Answers 2024

Basic Appraisal Principles Exam Questions and Answers 2024 The "price" of money is -Answer-an interest rate The public restriction on property rights that allows the government to place a lien on a property is -Answer-taxation The area associated with a subject property that contains its direct competition" is the definition of -Answer-market area A drainage easement is an example of a(n) -Answer-negative easement The appraisal standards and qualification criteria that are published by The Appraisal Foundation achieve legal authority by adoption, citation or implementation by -Answer- government agencies with the power to regulate or administrate When estimating the value of a fireplace in a single-family home, the most important principle is the principle of -Answer-contribution _________ is a computerized mapping system for encoding, retrieving, analyzing and presenting geographic or spatial data. -Answer-GIS Which entity is responsible for monitoring state appraiser licensing and certification agencies? -Answer-the Appraisal Subcommittee "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 -Answer-license The current number of appraisal education hours required for Certified General Appraiser applicants is ______ hours. -Answer-300 Your house is valued at $186,000. You want to insure it for 80% of value. Insurance will cost $6.00 per thousand per year. How much will your insurance cost per month? $48.90 -Answer-$74.40 A rectangular property measures 320 feet by 574.45 feet, and it sold for $263,750. How much did it sell for per acre? -Answer-$62,500 How is the Appraisal Subcommittee funded? -Answer-through a National Registry fee charged to each appraiser Public limitations on private property rights include all of the following EXCEPT CC&Rs taxation eminent domain escheat -Answer-CC&Rs A rancher owns six full sections plus three quarter sections. How many acres is that? - Answer-4,320 Low interest rates encourage __________, while high interest rates en