MCKISSOCK APPRAISAL WELL ELABORATED BUNDLE WITH CORRECT ANSWERS

McKissock Basic Appraisal Principles I Final Exam Quiz 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 contract?...

McKissock Learning - Basic Appraisal Principles "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- mortgage note "The earth's surface, both land and water, ...

Basic Appraisal Procedures - McKissock 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- Ident...

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...

USPAP McKissock Currently, the boards within The Appraisal Foundation include: - Answer- Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - Answer- Appraisal Standards Board (ASB) Which entity appoints members of t...

McKissock Appraisal Procedures A single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was $1,200. What is the GRM indicated by this sale? - Answer- 105.0 A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The ...

McKissock-Land and Site Valuation _________ is one of the four agents of production in economic theory. - Answer- Land Which is NOT a true statement? - Answer- The "Land Appraisal Report" is a Fannie Mae form. Land, as a physical entity, includes all of the following components EXCEPT: - ...

General Appraiser Site Valuation & Cost Approach (McKissock) Common Situations when appraisers are asked to conclude a separate land value: - Answer- -Making site adjustments in Sales Comparison Approach -Determining HBU -Analyzing land to improvement ratios -Estimating depreciation -Performi...

McKissock USPAP Chapter 4 What does the ethics rule establish? - Answer- Establishes fundamental obligations of an appraiser as part of the profession Ethics Rule - Answer- An appraiser must promote and preserve the public trust inherent in professional appraisal practice by observing the high...

Cost Approach - McKissock Class In law, the solid surface on the earth, as distinguished from water, is a definition of _____________. Land Site Situs Land rights - Answer- Land Site is ___________, but land is ___________. Raw, improved Eternal, temporary Economic, physical Improved,...

15-hour National USPAP Course - McKissock USPAP contains what 4 sections? - Answer- 1) The Preamble 2) Definitions 3) Rules 4) Standards USPAP Provides... - Answer- 1. A common basis for comparison 2. A reference source for all users of the document 3. A basis for uniform enforcement for ...

Mckissock USPAP Chapter 8 Standard 2 States... - Answer- In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. Report - Answer- Any communication, written or oral, of an appraisal or appra...

McKissock-7 Residential Sales Comparison and Income Approaches The six functions of a dollar are defined as: - Answer- The six related compound interest functions used in the mathematics of finance and shown in standard compund interest tables The definition of compound interest is: - Answer- ...

Principles of USPAP McKissok The Appraisal Practices Board (ADB) - Answer- Which independent board was created within The Appraisal Foundation in 2010? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP - Answer- Which statement is TRUE regarding The Appr...