BASIC APPRAISAL PRINCIPALS- 30 HOURS MCKISSOCK CHAPTER 1+2 TRAINING COURSE QUESTIONS AND ANSWERS
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BASIC APPRAISAL PRINCIPALS- 30 HOURS MCKISSOCK
Institution
BASIC APPRAISAL PRINCIPALS- 30 HOURS MCKISSOCK
BASIC APPRAISAL PRINCIPALS- 30 HOURS MCKISSOCK CHAPTER 1+2 TRAINING COURSE QUESTIONS AND ANSWERS
Sources of work for appraisers: - Answer--Appraisers can work alone
-In groups at an office
-For banks
-Accounting firms
-Real Estate Investment Companies
-Government agencies
-Real Estate depar...
BASIC APPRAISAL PRINCIPALS- 30 HOURS
MCKISSOCK CHAPTER 1+2 TRAINING
COURSE QUESTIONS AND ANSWERS
Sources of work for appraisers: - Answer--Appraisers can work alone
-In groups at an office
-For banks
-Accounting firms
-Real Estate Investment Companies
-Government agencies
-Real Estate departments of chain
-Attorneys
The appraisal of what type of property is more likely to be affected by local
neighborhood conditions? - Answer-a single-family residence
According to the 2018 AQB Criteria, an applicant for Certified General Appraiser must
obtain _______ experience hours in no fewer than _____ months. - Answer-3,000, 18
True or False: A state licensed residential appraiser may not supervise an appraisal
trainee. - Answer-TRUE
How many experience hours are required as a prerequisite for Appraiser Trainee
classification? - Answer-There is no experience prerequisite for Appraiser Trainee
classification
True or False: The end of the U.S. housing boom meant that appraisal business
dropped significantly across the country. - Answer-FALSE
True or False: Of the required number of experience hours required for certified general
appraiser applicants, at least 1,500 hours must be in the appraisal of non-residential
property. - Answer-TRUE
True or False: Some state agencies employ full-time staff appraisers. - Answer-TRUE
Under the 2018 AQB criteria, an Appraiser Trainee is permitted to have ________
supervising appraiser, but a supervising appraiser may not supervise ________
trainees. - Answer-More than one, more than three
Which of the following situations would NOT normally require an appraisal? - Answer-
Title insurance
, Which of the following situations would NOT normally require an appraisal? - Answer-
Life insurance
The number of required classroom education hours for Licensed Residential Appraisers
under the 2018 AQB Criteria is ____ hours. - Answer-150
Under the 2018 criteria, college level courses are required for - Answer-Certified
Residential and Certified General classifications
The current AQB Real Property Appraiser Qualification Criteria went into effect -
Answer-May 1, 2018
The four components of the Appraiser Qualification Criteria include Continuing
Education, Examination, ____________, and ______________. - Answer-Experience
and Qualifying Education
Who is responsible for approving education courses for licensing, certification, and re-
certification of appraisers? - Answer-Individual states
The number of required classroom education hours for Certified Residential Appraisers
under the 2018 AQB Criteria is ____ hours. - Answer-200
Which college-level course would probably be considered LEAST helpful to an
appraiser? - Answer-criminology
The _____ is charged with establishing the qualifications that all the states must adopt
in licensing, certification and re-certification of appraisers. - Answer-AQB
To apply for an Appraiser Trainee license, an applicant must have _____ hours of
qualifying education courses and ______ creditable hours of experience. - Answer-75, 0
The basic requirements for state licensed and state certified appraisers had their
genesis in Title ___ of FIRREA. - Answer-XI
The document transmitted to the client upon completion of an appraisal assignment is
the - Answer-appraisal report
The nationally recognized ethical and performance standards for appraisers are known
as - Answer-Uniform Standards of Professional Appraisal Practice
As part of the overall requirement for continuing education, appraisers must complete
the 7-Hour National USPAP Update Course or its equivalent ________ calendar
year(s). - Answer-every 2 years
Under the 2018 AQB Criteria, an applicant for a Certified General license must hold
___________ degree. - Answer-a bachelor's
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