Mckissock

MCKISSOCK BASIC APPRAISAL PRINCIPLES FINAL EXAM 2025 | ALL QUESTIONS AND CORRECT ANSWERS | NEWEST EXAM | GRADED A+ | VERIFIED ANSWERS

McKissock Basic Appraisal Principles I Final Exam Questions and Answers 100% Pass ASC (Appraisal Subcommittee) - ANS The _____ has oversight authority over state appraisal boards. consideration, in writing and signed, and lawful objective - ANS Which of the below is a requirement of a valid real estate contract? capital - ANS "The interaction of buyers and sellers who trade long-term or intermediate- term money instruments" is the definition of the _____________ market. market stud...

USPAP McKissock Exam Questions and Answers 100% Pass Currently, the boards within The Appraisal Foundation include: - ANS Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - ANS Appraisal Standards Board (ASB) Which entity appoints members of the AQB and ASB? - ANS Board of Trustees (BOT) Qualification criteria for appraiser certification and recertification are disseminated to state appraisal board by the? - ANS ...

Basic Appraisal Procedures – McKissock Exam Questions and Answers 100% Pass Valuation process - ANS A systematic procedure used in the valuation of real property. Client - ANS The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem - ANS 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...

Appraisal Principles Exam Practice Questions and Answers 100% Pass You have found comparable sales of rural land parcels that indicate the following sale prices per acre: ($930, $775, $1202, $995, $1612, $906). What is the mode of these indications? - ANS there is no mode, Median. There no mode, as each number only appears once Two years ago, you bought a property for $264,500. Values increased in that area by 5% the first year and 7% the second year. How much is your property worth today?...

Mckissock USPAP Chapter 8 Exam Questions and Answers 100% Pass Standard 2 States... - ANS In reporting the results of a real property appraisal, an appraiser must communicate each analysis, opinion, and conclusion in a manner that is not misleading. Report - ANS Any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client upon completion of an assignment. What does standard 2 do? - ANS STANDARD 2 sets forth minimum content requirements for writ...

McKissock-Understanding Luxury Home Features. Exam Questions and Answers 100% Pass A contractor charges $12.83 per square foot to install a paver driveway versus $5.00 per square foot to install an asphalt driveway. Will the paver driveway automatically provide more contributory value to a luxury home's market value than an asphalt driveway? - ANS No, value does not necessarily equal cost. Value depends on several factors. Which of the following factors could impact value (or worth)? -...

USPAP Test Review Exam Questions and Answers 100% Pass AQB - ANS establishes minimum education, experience, etc. for certification of real property appraisers and supervisors ASB - ANS revises and promulgates USPAP; responsible for subject, content, and substance of USPAP Appraisal Subcommittee - ANS operations are funded by state certified appraisers thru their license renewal payment in the form of a National Registry fee. Fee is paid to states and transferred to this committee Standa...

General Report Writing & Case Studies (McKissock) Exam Questions and Answers 100% Pass Appraisal - ANS The act or process of developing an opinion of value Report - ANS Any 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 an assignment Date of the Report - ANS The date that the appraiser completed and transmitted the appraisal report to the client. It is usually, but not always, dif...

Appraisal Procedures - Mckissock Exam Questions and Answers 100% Pass True or False: An appraiser's client must always directly engage the appraiser. - ANS False A step-by-step procedure that can be applied to any type of appraisal assignment is - ANS The valuation process True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. - ANS False "An assignment-specific assumption, as of the effective date, which, if found ...