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[Show more]Basic Appraisal Procedures- FINAL EXAM 
Questions And Answers 2024 
The most common heating systems in residential construction today are 
-hot water 
-heat pumps 
-forced warm air 
-electric radiant - answerhot water 
A _______________ home has a permanent steel chassis, wheels and axles. 
-paneliz...
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Add to cartBasic Appraisal Procedures- FINAL EXAM 
Questions And Answers 2024 
The most common heating systems in residential construction today are 
-hot water 
-heat pumps 
-forced warm air 
-electric radiant - answerhot water 
A _______________ home has a permanent steel chassis, wheels and axles. 
-paneliz...
Basic Appraisal Procedures Exam 
Questions And Answers 100% Solved 
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? - answer96.3 
"The process of valuing a universe of properties as ...
Preview 2 out of 12 pages
Add to cartBasic Appraisal Procedures Exam 
Questions And Answers 100% Solved 
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? - answer96.3 
"The process of valuing a universe of properties as ...
Basic Appraisal Procedures Exam Questions 
With 100% Correct Answers 2024 
In the highest and best use analysis, when an appraiser is evaluating the land as though vacant, 
what is one of the four criteria the appraiser will evaluate? - answerthe physical possibility 
of an intended use 
the apprais...
Preview 2 out of 14 pages
Add to cartBasic Appraisal Procedures Exam Questions 
With 100% Correct Answers 2024 
In the highest and best use analysis, when an appraiser is evaluating the land as though vacant, 
what is one of the four criteria the appraiser will evaluate? - answerthe physical possibility 
of an intended use 
the apprais...
Basic Appraisal Procedures Exam Questions 
With 100% Correct Answers 2024 
T/F: The effective date of the valuation must be the date on which the appraiser inspected the 
subject property. - answerFalse 
"An interest or interest s in real estate" is the definition of: - answerReal property 
In hig...
Preview 2 out of 8 pages
Add to cartBasic Appraisal Procedures Exam Questions 
With 100% Correct Answers 2024 
T/F: The effective date of the valuation must be the date on which the appraiser inspected the 
subject property. - answerFalse 
"An interest or interest s in real estate" is the definition of: - answerReal property 
In hig...
Basic Appraisal Procedures Final Exam 
Questions With 100% Correct Answers 
The first step in the valuation process is - answerdefine the problem 
Appraisers are cautioned to identify the exact _______________ of market value, and its 
_______________, applicable in each appraisal completed for the ...
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Add to cartBasic Appraisal Procedures Final Exam 
Questions With 100% Correct Answers 
The first step in the valuation process is - answerdefine the problem 
Appraisers are cautioned to identify the exact _______________ of market value, and its 
_______________, applicable in each appraisal completed for the ...
Basic Appraisal Procedures Exam Questions 
With 100% Correct Answers 
Assumption - answerThat which is taken to be true 
Effective Date - answerThe context for the appraiser's opinions and conclusions. Effective 
dates can be current, retrospective, or prospective 
Exposure Time - answerEstimated l...
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Add to cartBasic Appraisal Procedures Exam Questions 
With 100% Correct Answers 
Assumption - answerThat which is taken to be true 
Effective Date - answerThe context for the appraiser's opinions and conclusions. Effective 
dates can be current, retrospective, or prospective 
Exposure Time - answerEstimated l...
Basic Appraisal Procedures Exam Questions 
With 100% Correct Answers 
8 Steps in the Valuation Process - answer1) 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 value by each of the...
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Add to cartBasic Appraisal Procedures Exam Questions 
With 100% Correct Answers 
8 Steps in the Valuation Process - answer1) 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 value by each of the...
Basic Appraisal Procedures Exam Questions 
With 100% Correct Answers 
If a cost manual is used, the result is _____________ cost. - answerreplacement 
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 b...
Preview 2 out of 8 pages
Add to cartBasic Appraisal Procedures Exam Questions 
With 100% Correct Answers 
If a cost manual is used, the result is _____________ cost. - answerreplacement 
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 b...
Basic Appraisal Procedures Exam Questions 
And Answers 100% Solved 2024 
"The estimated cost to construct, at current prices as of the effective appraisal date, an exact 
duplicate or replica of the building being appraised, using the same materials..." is the 
definition of _______________ cost. ...
Preview 2 out of 6 pages
Add to cartBasic Appraisal Procedures Exam Questions 
And Answers 100% Solved 2024 
"The estimated cost to construct, at current prices as of the effective appraisal date, an exact 
duplicate or replica of the building being appraised, using the same materials..." is the 
definition of _______________ cost. ...
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