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[Show more]Basic Appraisal Procedures Bundled Exams Questions and Answers 100% Verified and Updated | Graded A
[Show more]Basic Appraisal Principles Final Exam 
Questions and Answers 
In a particular market, there is a demand for 500 houses per year, and there are 
currently 1,500 houses for sale. What does this most likely indicate? -Answer-there is a 
three-year supply of homes currently for sale 
"A business arrang...
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Questions and Answers 
In a particular market, there is a demand for 500 houses per year, and there are 
currently 1,500 houses for sale. What does this most likely indicate? -Answer-there is a 
three-year supply of homes currently for sale 
"A business arrang...
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 dire...
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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 dire...
Basic Appraisal Procedures Exam 
Questions and Answers 
Assumption -Answer-That which is taken to be true 
Effective Date -Answer-The context for the appraiser's opinions and conclusions. 
Effective dates can be current, retrospective, or prospective 
Exposure Time -Answer-Estimated length of time ...
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Questions and Answers 
Assumption -Answer-That which is taken to be true 
Effective Date -Answer-The context for the appraiser's opinions and conclusions. 
Effective dates can be current, retrospective, or prospective 
Exposure Time -Answer-Estimated length of time ...
Basic Appraisal Procedures Exam 
Questions and Answers 
If a cost manual is used, the result is _____________ cost. -Answer-replacement 
What type of framing became popular in the 1800s with the advent of the steam- 
powered sawmill? 
platform frame 
balloon frame 
log frame 
post and beam -Answer-b...
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Questions and Answers 
If a cost manual is used, the result is _____________ cost. -Answer-replacement 
What type of framing became popular in the 1800s with the advent of the steam- 
powered sawmill? 
platform frame 
balloon frame 
log frame 
post and beam -Answer-b...
Basic Appraisal Procedures Exam 
Questions and Answers 
- Answer-An entrepreneur is taking on a development project, and by his calculations, 
he expects to receive a 25% return on his investment in the project. This 25% figure 
represents 
$252,000 - Answer-The subject is a 15 year old duplex that ...
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Questions and Answers 
- Answer-An entrepreneur is taking on a development project, and by his calculations, 
he expects to receive a 25% return on his investment in the project. This 25% figure 
represents 
$252,000 - Answer-The subject is a 15 year old duplex that ...
Basic Appraisal Procedures – McKissock Exam 2024 
Valuation process -Answer-A systematic procedure used in the valuation of real 
property. 
Client -Answer-The party or parties who engage, by employment or contract, an 
appraiser in a specific assignment. 
Steps in Defining the problem -Answer-Ide...
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Add to cartBasic Appraisal Procedures – McKissock Exam 2024 
Valuation process -Answer-A systematic procedure used in the valuation of real 
property. 
Client -Answer-The party or parties who engage, by employment or contract, an 
appraiser in a specific assignment. 
Steps in Defining the problem -Answer-Ide...
Basic Appraisal Principles Exam Questions 
with 100% Correct Answers 
When are appraisers needed? -Answer-to set asking/offering prices, settle estates, 
refinance, divorce, taxes, rental rates, valuation, condemnation & foreclosure 
Appraiser -Answer-One who is expected to perform valuation service...
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Add to cartBasic Appraisal Principles Exam Questions 
with 100% Correct Answers 
When are appraisers needed? -Answer-to set asking/offering prices, settle estates, 
refinance, divorce, taxes, rental rates, valuation, condemnation & foreclosure 
Appraiser -Answer-One who is expected to perform valuation service...
Basic Appraisal Procedures, Basic Appraisal Procedures 
Exam Questions and Answers 2024 
8 Steps in the Valuation Process -Answer-1) Define the problem 
2) Determine scope of work 
3) Gather, record and verify the data 
4) Determine the highest and best use 
5) Estimate the land value 
6) Estimate v...
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Exam Questions and Answers 2024 
8 Steps in the Valuation Process -Answer-1) Define the problem 
2) Determine scope of work 
3) Gather, record and verify the data 
4) Determine the highest and best use 
5) Estimate the land value 
6) Estimate v...
McKissock Basic Appraisal Principles 
Exam Questions and Answers 
An appraiser paid a referral fee in conjunction with an assignment. Which statement is 
TRUE regarding this situation, according to USPAP? -Answer-The appraiser must 
disclose that a fee was paid, but does not have to disclose the amo...
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Exam Questions and Answers 
An appraiser paid a referral fee in conjunction with an assignment. Which statement is 
TRUE regarding this situation, according to USPAP? -Answer-The appraiser must 
disclose that a fee was paid, but does not have to disclose the amo...
McKissock - General Report Writing and Case Studies 
Appraisal -Answer-"(noun) The act or process of developing an opinion of value. an 
opinion of value; (adjective) of or pertaining to appraising and related functions such as 
appraisal practice or appraisal services."1 
Report -Answer-any commu...
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Appraisal -Answer-"(noun) The act or process of developing an opinion of value. an 
opinion of value; (adjective) of or pertaining to appraising and related functions such as 
appraisal practice or appraisal services."1 
Report -Answer-any commu...
McKissock Learning - Basic Appraisal Principles Exam Questions and 
Answers | 100% Verified and Updated 2024 
"A document or a clause in a document in which the borrower accepts responsibility for 
the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) 
debt -Answer-mor...
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Answers | 100% Verified and Updated 2024 
"A document or a clause in a document in which the borrower accepts responsibility for 
the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) 
debt -Answer-mor...
Basic Appraisal Principles Exam 
Questions and Answers 
Appraisal Review -Answer-The act or process of developing and communicating an 
opinion about the quality of another appraiser's work that was performed as part of an 
appraisal, appraisal review, or appraisal consulting assignment 
Appraisal ...
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Questions and Answers 
Appraisal Review -Answer-The act or process of developing and communicating an 
opinion about the quality of another appraiser's work that was performed as part of an 
appraisal, appraisal review, or appraisal consulting assignment 
Appraisal ...
McKissock Basic Appraisal Principles I 
Final Exam Quiz-100% Solved 
ASC (Appraisal Subcommittee) -Answer-The _____ has oversight authority over state 
appraisal boards. 
consideration, in writing and signed, and lawful objective -Answer-Which of the below is 
a requirement of a valid real estate co...
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Final Exam Quiz-100% Solved 
ASC (Appraisal Subcommittee) -Answer-The _____ has oversight authority over state 
appraisal boards. 
consideration, in writing and signed, and lawful objective -Answer-Which of the below is 
a requirement of a valid real estate co...
Basic Appraisal Procedures Exam with 
100% Correct Answers 
When developing an appraisal, you calculate the following GRMs for comparable 
properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - 
Answer-96.3 
"The process of valuing a universe of properties as of a g...
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100% Correct Answers 
When developing an appraisal, you calculate the following GRMs for comparable 
properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - 
Answer-96.3 
"The process of valuing a universe of properties as of a g...
mckissock basic appraisal principles 
exam questions and answers 
grant deed -Answer-deed containing, or having implied by law, some but not all of the 
usual covenants of title 
Appraiser -Answer-One who is expected to perform valuation services competently and 
in a manner that is independent, imp...
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Add to cartmckissock basic appraisal principles 
exam questions and answers 
grant deed -Answer-deed containing, or having implied by law, some but not all of the 
usual covenants of title 
Appraiser -Answer-One who is expected to perform valuation services competently and 
in a manner that is independent, imp...
Basic Appraisal Procedures Exam 
Questions and Answers 2024 
When developing an appraisal, you calculate the following GRMs for comparable 
properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - 
Answer-96.3 
"The process of valuing a universe of properties as of a ...
Preview 3 out of 17 pages
Add to cartBasic Appraisal Procedures Exam 
Questions and Answers 2024 
When developing an appraisal, you calculate the following GRMs for comparable 
properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - 
Answer-96.3 
"The process of valuing a universe of properties as of a ...
Basic Appraisal Procedures Study Guide 
The appraiser -Answer-Who is responsible for identifying the intended use of an 
appraisal? 
Valuation process -Answer-A step-by-step procedure that can be applied to any type of 
appraisal assignment. 
No -Answer-Does an appraiser's client always have to dir...
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Add to cartBasic Appraisal Procedures Study Guide 
The appraiser -Answer-Who is responsible for identifying the intended use of an 
appraisal? 
Valuation process -Answer-A step-by-step procedure that can be applied to any type of 
appraisal assignment. 
No -Answer-Does an appraiser's client always have to dir...
Basic Appraisal Procedures, test review 2024 
"The age of property that is based on the amount of observed deterioration and 
obsolescence it has sustained" is the definition of ____________ age. -Answer-effective 
In what type of heating system would you find an expansion tank? -Answer-hot water ...
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"The age of property that is based on the amount of observed deterioration and 
obsolescence it has sustained" is the definition of ____________ age. -Answer-effective 
In what type of heating system would you find an expansion tank? -Answer-hot water ...
Basic Appraisal Procedures Questions and Answers 
True or False: The effective date of the valuation must be the date on which the 
appraiser inspected the subject property. -Answer-FALSE 
In many cases, the effective date is the date the appraiser inspects the subject property. 
But that is not alw...
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Add to cartBasic Appraisal Procedures Questions and Answers 
True or False: The effective date of the valuation must be the date on which the 
appraiser inspected the subject property. -Answer-FALSE 
In many cases, the effective date is the date the appraiser inspects the subject property. 
But that is not alw...
Basic Appraisal Procedures- FINAL EXAM Q's & A’s 2024 
The most common heating systems in residential construction today are 
-hot water 
-heat pumps 
-forced warm air 
-electric radiant -Answer-hot water 
A _______________ home has a permanent steel chassis, wheels and axles. 
-panelized 
-modul...
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Add to cartBasic Appraisal Procedures- FINAL EXAM Q's & A’s 2024 
The most common heating systems in residential construction today are 
-hot water 
-heat pumps 
-forced warm air 
-electric radiant -Answer-hot water 
A _______________ home has a permanent steel chassis, wheels and axles. 
-panelized 
-modul...
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