General appraiser exam - Study guides, Class notes & Summaries

Basic Appraisal Procedures Exam Questions And Answers Assumption - ANS That which is taken to be true Effective Date - ANS The context for the appraiser's opinions and conclusions. Effective dates can be current, retrospective, or prospective Exposure Time - ANS Estimated length of time a property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. Extraordin...

BA Principles Final Exam Review with Verified Answers (Graded A) |Latest 2024/2025 What is a corporation or trust that functions like a mutual fund for real estate, by combining the capital of many investors to acquire real estate? a. General partnership b. Land trust c. Syndication d. REIT ️ d. REIT The federal financial institutions regulatory agencies directly involved in fair lending include all of the following EXCEPT: a. Fannie Mae b. FDIC c. OCC d. FRB ️ a. Fannie Mae The...

Basic Appraisal Procedures – McKissock Exam 2024 Valuation process -Answer-A systematic procedure used in the valuation of real property. Client -Answer-The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem -Answer-Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any specia...

Basic Appraisal Procedures Exam Questions and Answers Updated 2024/2025 (GRADED A+) A systematic procedure used in the valuation of real property. Client The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any special limitin...

Residential Market Analysis and Highest & Best Use Exam Questions and Answers Latest 2024/2025 | Graded A+. The development of a vacant land area is _____________ the highest and best use of the land. Correct Answer: Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property Correct Answer: Land and the Buildings ________________ involves subdividing the larger market into a workable study area. Correct Answer:...

Basic Appraisal Principles Exam Questions with 100% Correct Answers When are appraisers needed? -Answer-to set asking/offering prices, settle estates, refinance, divorce, taxes, rental rates, valuation, condemnation & foreclosure Appraiser -Answer-One who is expected to perform valuation services competently & in a manner that is independent, impartial & objective. Attributes of an Appraiser -Answer-competent, independent, impartial, objective, prompt, organized, educated, honest & dilige...

McKissock - General Report Writing and Case Studies Exam Questions With 100% Correct Answers 2024 Appraisal - answer"(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report - answerany communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of...

Basic Appraisal Procedures Exam Questions and Answers Updated 2024/2025 (GRADED A+) A systematic procedure used in the valuation of real property. Client The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any special limitin...

MN Course 1 Exam Prep: Licensing, Agency, and Contracts Questions and Answers Already Passed How many hours of education must an applicant for a salesperson's license take in Minnesota before sitting for the exam? 30 (Course 1) How many hours of education must an applicant for a salesperson's license take in Minnesota before applying for a license? 90 (Courses 1, 2, and 3) What's a passing percentage for the Minnesota salesperson license exam? 75% How is the Minnesota Salesp...

Aceable Agent - Principles of Real Estate II Exam Notes 100% Verified TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - answerFormulas to calculate commission? PRINCIPAL - answerWhat is the term that describes the money that is lent? CASH TO CLOSE - answerDown payment minus earnest money? TOTAL SALES PRICE - answerLoan payment + loan principal? ORIGINATION POINTS - answerLoan points/fees charged 1% to compensate loan officers for underwriting and administering...