Ree 4103 exam 1 - Study guides, Class notes & Summaries

What is appraisal? - The act or process of developing an opinion of value of an asset What is USPAP? - Uniform Standards of Professional Appraisal Practice What is real estate? - An identified parcel or tract of land, including imporvements, if any. The physical land and appurtenances affixed to the land What is real property? - The interests, benefits, and rights inherent in the ownership of real estate (land, buildings, fixtures) What is the total range of private owneership intere...

REE 4103 Exam 1 Questions with Complete Solution2

REE 4103 EXAM 1 Questions with complete solutions.

REE 4103 Exam 1 Questions with Complete Solution1.

REE 4103 Exam 1 botts questions with Complete solutions.

Private ownership of real property rights is subject to certain restrictions, known as the four powers of government. Which of the following is NOT one of the four powers of government that restrict real property rights? Correct Answer-Deed Restrictions Items that have been installed or attached to the land or building in a permanent manner are considered which of the following? Correct Answer-Real Property Which of the following is able to perform a formal appraisal of real estate? Correc...

An appraiser may be liable for all of the following except: - Negligence - Misrepresentation - Fraud - Low value - Low value For appraisal purposes, market value may be defined as: - The highest offer - The amount of the loan commitment - The most probable selling price - The asking price - - The most probable selling price Appraisal is - The act or process of telling the client the market value of the real estate - The act of process of developing an opinion of value - The repo...

The concepts of land are Correct Answer-Legal, geographic and environmental, economic, and social. For appraisal purposes, market value may be defined as Correct Answer-The most probable selling price Appraisal is Correct Answer-The act or process of developing an opinion of value. What is Chattel? Correct Answer-Personal property is generally considered property that is movable,[1] as opposed to real property or real estate. What is a fixture? Correct Answer-any physical property th...

Private ownership of real property rights is subject to certain restrictions, known as the four powers of government. Which of the following is NOT one of the four powers of government that restrict real property rights? - Deed Restrictions Items that have been installed or attached to the land or building in a permanent manner are considered which of the following? - Real Property Which of the following is able to perform a formal appraisal of real estate? - Only licensed appraisers Wh...

What is appraisal? Correct Answer-The act or process of developing an opinion of value of an asset What is USPAP? Correct Answer-Uniform Standards of Professional Appraisal Practice What is real estate? Correct Answer-An identified parcel or tract of land, including imporvements, if any. The physical land and appurtenances affixed to the land What is real property? Correct Answer-The interests, benefits, and rights inherent in the ownership of real estate (land, buildings, fixtures) ...