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MCKISSOCK BASIC APPRAISAL PRINCIPLES CERTIFICATION EXAM QUESTIONS AND ANSWERS $13.49
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MCKISSOCK BASIC APPRAISAL PRINCIPLES CERTIFICATION EXAM QUESTIONS AND ANSWERS

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MCKISSOCK BASIC APPRAISAL PRINCIPLES CERTIFICATION EXAM QUESTIONS AND ANSWERS market neighborhood - Answer-group of complementary land uses, congrugous grouping of inhabitants district - Answer-neighborhood characterized by homo land use market area - Answer-geographic region from which a m...

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  • November 9, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • market neighborhood
  • mckissock basic appraisal principles
  • mckissock basic appraisal principles certification

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  • MCKISSOCK BASIC APPRAISAL PRINCIPLES
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MCKISSOCK BASIC APPRAISAL
PRINCIPLES CERTIFICATION EXAM
QUESTIONS AND ANSWERS
market neighborhood - Answer-group of complementary land uses, congrugous
grouping of inhabitants

district - Answer-neighborhood characterized by homo land use

market area - Answer-geographic region from which a majority of demand comes and in
which the majority of competition is located

amenity - Answer-benefit of real estate that enhances attractiveness of the user

real estate money demand - Answer-Currency plus demand and time deposits plus the
liabilities of nonbank financial intermediaries

monetary policy - Answer-efforts by a central bank such as the FED in the US to
influence economic activity by regulating availability of money and rate of interest

money market - Answer-interaction of buyers and sellers who trade short term money
instruments

capital market - Answer-interaction of buyers and sellers trading long- or intermediate-
term money instruments

secondary money market - Answer-created by govt. and private agencies for the
purchase and sale of existing mortgages making mortgages more liqud

contract on deed - Answer-contract in which a purchaser of real estate agrees to pay a
small portion of the purchase price when the contract is signed and additional sums

conventional loan - Answer-mortgage that is neither insured or guaranteed by an
agency of the federal govt although it may be privately insured

guaranteed mortgage - Answer-a party other than the borrower assures payment in the
event of default

insured mortgage - Answer-a party other than the borrower assures payment on default
by the mortgagor in return for the payment of a premium

first mortgage - Answer-has priority over all other mortgage liens on a property

, junior lien - Answer-lien placed on property after a previous lien has been made and
recorded

amoritization - Answer-process of retiring a debt or recovering a capital investment
typically through scheduled systematic repayment of the principal

fixed rate mortgage - Answer-A mortgage in which the interest rate does not change
during the entire term of the loan.

balloon mortgage - Answer-one that is not fully amortized at maturity and thus requires
a lump sum or balloon payment of the outstanding balance

graduated-payment mortgage (GPM) - Answer-debt secured by real property in which
mortgage payments are usually projected to match increases in the borrower's income

adjustable rate mortgages - Answer-debt secured by real property with an interest rate
that may move up or down

reverse mortgage - Answer-type of mortgage whereby age-qualified homeowners
systematically borrow against the equity in their homes, receiving regular (usually
monthly) payments from the lender

discount points - Answer-percentage of the loan amount that a lender charges a
borrower for making a loan

utility - Answer-ability of a product to satisfy a human want need or desire; the ability of
a property or building to be useful and to perform the function for which it is intended
according to current market taste and standards

scarcity - Answer-present or anticipated undersupply of an item relative to the demand
for it

effective purchasing power - Answer-ability of an individual or group to participate in a
market

external market forces - Answer-planning,zoning,building codes, envt restrictions, taxes,
utilities, transportation, education, cultural, parks and rec, police, fire protection, public
safety

National Oceanic and Atmospheric Administration - Answer-charged with monitoring
coastal habitats, such as estuaries and reefs. It also monitors development, water and
sediment contamination, water diversion for industrial, agricultural, sedimentation, and
dredging and filling activities.

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