Appraiser a - Study guides, Class notes & Summaries

Business Appraisal Profession - correct answer 1) entire firms specializing in business appraisal 2) departments of firms primarily doing other things, such as CPA firms, banks, and multidisciplinary firms 3) part-time practitioners Business appraiser services - correct answer 1) An objective and independent valuation opinion of business interests 2) An advisory, or consulting (advocate), role in determining a value Market Approach - 3 Approaches to Value - correct answer 1) Principle of s...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

Farming - correct answer Concentrating on one type of style of property or on one particular neighborhood A residential transaction os defined in F.S. 475 as the sale of any: - correct answer - Duplex - improved residential property of four units or fewer, including condominium units -unimproved property intended for four units or fewer - agricultural properties of ten acres or less - leases with options to purchase all or a portion of improved property of four or fewer residential units...

National USPAP Course Exam The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Correct answer-False Currently, the boards within the Appraisal Foundation include: - Correct answerAppraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - Correct answer-Appraisal Standards Board Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards ...

The required minimum amounts of liability car insurance coverage in Maine Answer - 50/100/25 Would a ferry crashing between the coast of Maine and Nova Scotia a be covered by the personal auto insurance policy Answer - No Limit on Theft of Unscheduled Jewelry Answer - $1500 When insurer and insured cannot agree on loss Answer - they each hire an appraiser If the appraisers cannot agree on loss Answer - they select an umpire If the appraisers cannot agree on an umpire Answer - a ju...

What are the quantity of work days you have per Act 361 to inspect a vehicle? - ANSWER 6 True or false: Every appraiser, while participated in examination obligations, should convey his/her appraiser's permit and show it to a proprietor of the vehicle or shop upon demand: - ANSWER True How long after an examination should a complete misfortune be proposed to the proprietor? - ANSWER 5

New York State Auto Damage and Theft Quiz 17-71 Correctly Answered 2024/2024 Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss - CORRECT ANSWER-Consequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center...

NEW YORK STATE AUTO DAMAGE AND THEFT QUIZ 17-71 Correctly Answered 2024 Jim Smith is involved in a collision claim and is no longer able to use the vehicle to go to work. This "loss of use" is referred to as a: Direct loss Indirect loss Loss evaluation Consequential loss - Answer -Consequential loss When the rear of the vehicle is damaged and there is a gap between the trunk lid and the quarter panel, what else on the vehicle should the appraiser check? The center pillar The trunk ...

What is the difference between a unitized frame and a uni-body? - ANSWER-There is no difference. In a uni-body or unitized vehicle, the frame and body are incorporated into a single welded structure. Should exhaust damaged systems be welded and repaired, or replaced all together? - ANSWER-Replaced. Exhaust gases contain poisonous carbon monoxide and leaks could create dangerous conditions for passengers. The "Inside Out" sequence refers to... - ANSWER-Calculating Labor times SAI refer...

Valuation process A systematic procedure used in the valuation of real property. Steps: 1: Define the problem 2:Determine scope of work 3:Gather, record, and verify the data 4:Determine the highest and best use 5:Estimate the land value 6:Estimate value by each of the three approaches (if applicable) 7:Reconcile the estimated values into the final opinion of value 8:Report the final opinion of value Client The party or parties who engage, by employment or contra...