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Laws and Regulations for CA Appraisers Latest Questions and Answers Rated 100% Correct $13.49   Add to cart

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Laws and Regulations for CA Appraisers Latest Questions and Answers Rated 100% Correct

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The real estate brokerage and sales profession remained entirely unregulated throughout the 1900s. a. True b. False <~~> a. False 1.2 The event that led to the regulation of the appraisal profession was the: a. Great Depression b. Savings and Loan Crisis c. Wall Street and Subprime ...

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  • September 21, 2024
  • 78
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Laws and Regulations for CA
  • Laws and Regulations for CA
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1 | P a g e | © copyright 2024/2025 | Grade A+




Laws and Regulations for CA
Appraisers Latest Questions and
Answers Rated 100% Correct
1.1 The real estate brokerage and sales profession remained entirely

unregulated throughout the 1900s.




a. True

b. False


✓ <~~> a. False




1.2 The event that led to the regulation of the appraisal profession was the:




a. Great Depression

b. Savings and Loan Crisis

c. Wall Street and Subprime Loan Crisis

d. Watergate


✓ <~~> b. Savings and Loan Crisis




1.3 What entity was referenced in FIRREA as a recognized source for

appraisal standards and appraiser qualifications?



Master01 | September, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+




a. The Appraisal Foundation

b. Department of Housing and Urban Development (HUD)

c. Fannie Mae

d. California OREA

You answered incorrectly

The Appraisal Foundation was also referenced in FIRREA as a recognized

source for appraisal standards and appraiser qualifications. (Ch 1, FIRREA)


✓ <~~> a. The Appraisal Foundation




Note: The Appraisal Foundation was also referenced in FIRREA as a

recognized source for appraisal standards and appraiser qualifications. (Ch

1, FIRREA)




1.4 FIRREA references ____________ as the source for minimum appraiser

qualifications.




a. The AQB

b. HUD/FHA

c. Professional appraisal organizations

d. Fannie Mae


Master01 | September, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+




Note: Rather than directly codify the specific education, experience, and

exam requirements, this law references the Appraiser Qualifications Board of

The Appraisal Foundation as the recognized source for minimum appraiser

qualifications that must be adopted by the states. (Ch 1, FIRREA: Certification

and Licensing Requirements)


✓ <~~> a. The AQB




Note: Rather than directly codify the specific education, experience, and

exam requirements, this law references the Appraiser Qualifications Board of

The Appraisal Foundation as the recognized source for minimum appraiser

qualifications that must be adopted by the states. (Ch 1, FIRREA: Certification

and Licensing Requirements)




1.5 The ASC has the authority to oversee state AMC registration programs.




a. True

b. False


✓ <~~> a. True




1.6 The ASC consists of ____ members.




Master01 | September, 2024/2025 | Latest update

, 1 | P a g e | © copyright 2024/2025 | Grade A+




a. 3

b. 7

c. 12

d. 15


✓ <~~> b. 7




1.7 The ASC has monitoring authority over California's appraisal regulatory

agency.




a. True

b. False


✓ <~~> a. True




1.8 Who would be permitted to complete an appraisal for a federally related

transaction on a complex single-family property with a loan amount of

$500,000?




a. a certified residential appraiser only

b. a certified general appraiser only

c. a licensed appraiser only


Master01 | September, 2024/2025 | Latest update

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