Basic Appraisal Principles || with Errorless Solutions 100%.

3,000, 30 correct answers The Certified General Real Property Appraiser Classification requires _______ hours of experience in no fewer than ___ months. Less than $1,000,000, less than $250,000 correct answers The Licensed Residential Real Property Appraiser Classification applies to the appraisa...

True or False: An appraiser's client must always directly engage the appraiser. correct answers False A step-by-step procedure that can be applied to any type of appraisal assignment is correct answers The valuation process True or False: The effective date of the valuation must be the date o...

Subrogation correct answers One insurance company sues another to recover cost to repair insured's car Release correct answers Two insurance companies agreed or insured agrees ACV correct answers Actual Cash Value, cost new less depreciation Arbitration correct answers Only way in insuranc...

In PA, a consumer reporting agency may list all of the following information about a consumer EXCEPT: correct answers Medical Information The device that synchronizes the spark plug firing sequence is: correct answers Camshaft Sensor If an insured fail to report a claim in a timely fashion the...

Factors that make performance management successful correct answers 1. Engaging employees 2. Using systematic approach 3. clarifying expectations Considerations when approaching performance appraisals correct answers 1. Title 7 Civil Rights Act 2. Ensuring equitable appraisals 3. Equal Employ...

Real property appraisal reporting requirements are set forth in Standard correct answers of the Uniform Standards of Professional Appraisal Practice. How much is the annual fee charged to each appraiser for the National Registry? correct answers $40 How many creditable hours of education must...

______________ establishes education, experience, and other criteria for licensing, certification, and recertification of appraisers. correct answers The Appraiser Qualifications Board (AQB) The Appraisal Foundation periodically issues ____________ which are voluntary guidance regarding recognize...

An appraiser is defined as "one who is expected to perform valuation services _________, and in a manner that is independent, impartial, and objective." realistically promptly obediently competently correct answers competently True or False: All appraisals are performed for mortgage lendi...

You borrow $144,000 for 30 years and the interest rate is 6.2%. The lender requires you to pay 1.5 points at the closing. How much do you have to pay for the points? correct answers $2,160 144000x1.5%=2160 What makes a good appraiser? correct answers Attributes of a good appraiser These are cer...

Steps. 1. Determine Cost New Main house 2400 SF x 85/SF =204,000 Garage 440 x 18/SF = 7920 ====================================== 204,000 + 92 = 211,920 2. Determine Depreciation Cost Sale Price 240,000 - Land Value 50,000 - Improvements 25,000 ======================== 165,000 3. De...

3 Common Approaches to Value correct answers Sales, Cost, Income 3 Components of Depreciation correct answers physical, functional, external Neighborhood Lifecycle correct answers Growth, Stability, Decline, Renewal 4 Tests of Highest and Best Use correct answers Legally Allowed, Physically...

Which of the following is usually defined as the most probable price a property would bring in normal market conditions? correct answers Market value The Appraisal Foundation includes which of the following independent boards? correct answers The Appraisal Standards Board Appraisals are usuall...

The Foundation accomplishes its goal through the work of its 2 independent boards: correct answers - Appraiser Qualifications Board (AQB) - Appraisal Standards Board (ASB) Appraiser Qualifications Board (AQB) correct answers establishes minimum criteria for state certified appraisers and endors...