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Bellas Microbiology Exam II With 100% Verified Solutions | Updated & Verified | 2024
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Bellas Microbiology Exam II With 100% Verified Solutions | Updated & Verified | 2024
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Basic Appraisal Principles Final ExamQuestions and Answers 100% pass | graded
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When appraising an income producing property, you have the following GRMs indicated from comparable
sales (122, 159, 132, 126, 122, 173, 152, 126). What is the median of the GRMs? - ✔✔129
"A development right that cannot be used by the landowner, or that the owner chooses not to use, but
can be sold to landowners in another location" are called _____________ rights. - ✔✔transferable
development
The Conduct Section of the ETHICS RULE states, in part, that an appraiser must perform
assignments with - ✔✔Impartiality, objectivity, and independence
The four components of the Appraiser Qualification Criteria are: - ✔✔qualifying education,
examination, experience, continuing education
Which of the below is a requirement of a valid real estate contract? - ✔✔all of the above
USPAP defines _________ as the amount asked, offered, or paid for a property. - ✔✔price
"The act of transferring an interest in property or some right (such as contract benefits) to another"
is the definition of - ✔✔assignment
"The study of the cost-benefit relationship of an economic endeavor" is the definition of -
✔✔feasibility analysis
Your property, which consists of a house on a lot, is valued at $186,000. You want to insure it for 80% of
value. Insurance will cost $6.00 per thousand per year. How much will your insurance cost per month? -
✔✔$74.40
, A client asks an appraiser to omit the client's identity from the appraisal report. What can the appraiser
do? - ✔✔omit the client's identity from the report but identify the client in the workfile
The primary purpose of USPAP is to protect - ✔✔public trust
Which is the fullest and most complete type of estate? - ✔✔fee simple
"A mortgage in which the interest rate may move up or down, following a specified schedule or in
accordance with the movements of a standard or index to which it is tied" is the definition of a(n)
______________ mortgage. - ✔✔adjustable rate
Transportation would be an example of a(n) __________ force affecting property values. -
✔✔governmental
"In appraisal, the concept that a higher-priced property will be worth less in a lower-priced
neighborhood than it would in a neighborhood of comparable properties" is the definition of the
principle of - ✔✔regression
"A right or interest in property" is a(n) - ✔✔estate
"A value that cannot be imputed to any part of the physical property, e.g., the excess value attributable
to a favorable lease or mortgage, the value attributable to goodwill" is the definition of ____________
value. - ✔✔intangible
What is the median of these numbers: 19, 11, 64, 36, 81, 22, 35, 95? - ✔✔35.5
The general rule of contracting with minors is that a contract with a minor is - ✔✔voidable at
the minor's option
"The geographic region from which a majority of demand comes and which the majority of the
competition is located" is the definition of - ✔✔market area
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