Basic Appraisal Principles - Review Quiz Questions and Answers 100% Pass

Basic Appraisal Principles - Review Quiz Questions and Answers 100% Pass "The act of transferring an interest in property or some right (such as contract benefits) to another" is the definition of assignment novation codicil acceptance - assignment What is the mean of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129) 93 94.5 101.5 104 - 104 Forty percent of the houses in a neighborhood are Colonials and 18% are Cape Cods. There are a total of 200 houses. How many are Cape Cods? 36 2100% Pass Guarantee Emily Charlene All Rights Reserved © 2025 40 48 80 - 36 All of the following would typically be considered to be personal property EXCEPT portable dishwasher wall to wall carpeting countertop microwave clothes dryer - wall to wall carpeting The current number of appraisal education hours required for Certified General Appraiser applicants is ______ hours. 180 200 300 360 - 300 Modern definitions of the word "appraisal" have replaced the word _______ with ________. pounds, dollars time, market conditions value, cost estimate, opinion - estimate, opinion 3100% Pass Guarantee Emily Charlene All Rights Reserved © 2025 A problem with the real property market is that the amount of ________ is slow to change. demand new customers supply supply and demand - supply The Equal Credit Opportunity Act (ECOA) is enforced by: Consumer Financial Protection Bureau State fair lending enforcement agencies Federal Reserve Board (FRB) Department of Housing and Urban Development (HUD) - Consumer Financial Protection Bureau "A mortgage in which the interest rate may move up or down, following a specified schedule or in accordance with the movements of a standard or index to which it is tied" is the definition of a(n) ______________ mortgage. adjustable rate interest only index fluctuating - adjustable rate In an effort to securely protect sensitive data, become more efficient at closing mortgage loans, and develop more consistent standardized appraisal data, Fannie Mae and Freddie Mac created which initiative? 4100% Pass Guarantee Emily Charlene All Rights Reserved © 2025 Uniform Mortgage Data Program (UMDP) Data Accurate Database Uniform Data Delivery Electronic Appraisal Dataset - Uniform Mortgage Data Program (UMDP) What is the median of the following set of gross rent multipliers? (95, 93, 120, 94, 93, 129) 93 94.5 96.5 104 - 94.5 All of the following would be social influences on value EXCEP