Basic Appraisal Principles EXAM SET COMPLETE (questions and
Basic Appraisal Principles Final Exam
verifiedStudy
answers) FREQUENTLY MOST TESTED QUESTIONS |2025
online at https://quizlet.com/_7n5pwh
LATEST| already passed!!
1. In a particular market, there is a demand for 500 hous- there is a three-year sup-
es per year, and there are currently 1,500 houses for ply of homes currently for
sale. What does this most likely indicate? sale
2. "A business arrangement in which two or more per- partnertransferable devel-
sons jointly own a business and share in its profits and opment rightsship
losses" is the definition of
3. Property Owner A has the right to develop his property transferable development
into 10 lots. He sells this right to nearby Property Own- rights
er B who wishes to develop his property into additional
lots. This is an example of
4. What is the mean of the following set of gross rent 104
multipliers? (95, 93, 120, 94, 93, 129)
5. Short term money instruments are traded on the money market
6. Which entity is responsible for making periodic Appraisal Standards Board
changes to USPAP?
7. The real property market is generally classified as a(n) imperfect
__________ market.
8. The appraisal standards and qualification criteria that government agencies with
are published by The Appraisal Foundation achieve le- the power to regulate or
gal authority by adoption, citation or implementation administrate
by
9. Eric pays $35,000 to have an inground swimming pool contribution
constructed in his back yard. When he sells the proper-
ty, he only receives $10,000 more for his property than
1/9
, Basic Appraisal Principles Final Exam
Study online at https://quizlet.com/_7n5pwh
what similar property sold for without a pool. This is
an example of the principle of
10. "The ownership interest held by the lessor, which in- leased fee interest
cludes the right to receive the contract rent specified
in the lease plus the reversionary right when the lease
expires" is the definition of
11. When appraising an income producing property, you 122, 126 (bi-modal)
have the following GRMs indicated from comparable
sales (122, 159, 132, 126, 122, 173, 152, 126). What is
the mode of the GRMs?
12. The current number of appraisal education hours re- 300
quired for Certified General Appraiser applicants is
______ hours.
13. The ________ is responsible for establishing criteria for Appraiser Qualifications
individuals to become real property appraisers. Board
14. The federal financial institutions regulatory agencies ASB
directly involved in fair lending include all of the fol-
lowing EXCEPT
15. A homeowner fears the construction of a factory near- externalities
by will decrease the value of her property. This illus-
trates the principle of
16. Under the current qualification criteria, an applicant 0
for Appraiser Trainee must have completed ___ cred-
itable hours of experience.
17. What is the mode of the following set of gross rent 93
multipliers? (95, 93, 120, 94, 93, 129)
2/9
Basic Appraisal Principles Final Exam
verifiedStudy
answers) FREQUENTLY MOST TESTED QUESTIONS |2025
online at https://quizlet.com/_7n5pwh
LATEST| already passed!!
1. In a particular market, there is a demand for 500 hous- there is a three-year sup-
es per year, and there are currently 1,500 houses for ply of homes currently for
sale. What does this most likely indicate? sale
2. "A business arrangement in which two or more per- partnertransferable devel-
sons jointly own a business and share in its profits and opment rightsship
losses" is the definition of
3. Property Owner A has the right to develop his property transferable development
into 10 lots. He sells this right to nearby Property Own- rights
er B who wishes to develop his property into additional
lots. This is an example of
4. What is the mean of the following set of gross rent 104
multipliers? (95, 93, 120, 94, 93, 129)
5. Short term money instruments are traded on the money market
6. Which entity is responsible for making periodic Appraisal Standards Board
changes to USPAP?
7. The real property market is generally classified as a(n) imperfect
__________ market.
8. The appraisal standards and qualification criteria that government agencies with
are published by The Appraisal Foundation achieve le- the power to regulate or
gal authority by adoption, citation or implementation administrate
by
9. Eric pays $35,000 to have an inground swimming pool contribution
constructed in his back yard. When he sells the proper-
ty, he only receives $10,000 more for his property than
1/9
, Basic Appraisal Principles Final Exam
Study online at https://quizlet.com/_7n5pwh
what similar property sold for without a pool. This is
an example of the principle of
10. "The ownership interest held by the lessor, which in- leased fee interest
cludes the right to receive the contract rent specified
in the lease plus the reversionary right when the lease
expires" is the definition of
11. When appraising an income producing property, you 122, 126 (bi-modal)
have the following GRMs indicated from comparable
sales (122, 159, 132, 126, 122, 173, 152, 126). What is
the mode of the GRMs?
12. The current number of appraisal education hours re- 300
quired for Certified General Appraiser applicants is
______ hours.
13. The ________ is responsible for establishing criteria for Appraiser Qualifications
individuals to become real property appraisers. Board
14. The federal financial institutions regulatory agencies ASB
directly involved in fair lending include all of the fol-
lowing EXCEPT
15. A homeowner fears the construction of a factory near- externalities
by will decrease the value of her property. This illus-
trates the principle of
16. Under the current qualification criteria, an applicant 0
for Appraiser Trainee must have completed ___ cred-
itable hours of experience.
17. What is the mode of the following set of gross rent 93
multipliers? (95, 93, 120, 94, 93, 129)
2/9
