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1 Exam (elaborations) McKissock Liberty University -15-hour National USPAP Course - McKissock with 100% correct answers 2 Exam (elaborations) McKissock Liberty University -Appraisal Procedures - Mckissock Quiz Questions with correct answers 3 Exam (elaborations) Basic Appraisal Principles Final E...

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McKissock Liberty University -USPAP McKissock questions n answers

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USPAP Currently, the boards within The Appraisal Foundation include: - correct answer Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - correct answer Appraisal Standards Board (ASB) Which entity appoints members of ...

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McKissock Liberty University -The Fundamentals of Appraising Luxury Homes with complete solutions

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The Fundamentals of Appraising Luxury Homes Which of the following is FALSE regarding most luxury home buyers? - correct answer They are attuned to current construction costs and will relinquish technology and amenities to save costs. Luxury homebuyers purchasing a luxury home as their primary r...

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McKissock Liberty University -Supervisor-Trainee Course for Ohio McKissock fully solved

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Supervisor-Trainee Course for Ohio Currently, what is the annual national registry fee per appraiser? - correct answer $40 The Dodd-Frank Act of 2010 requires the ASC to create and maintain a national registry of: - correct answer Appraisal management companies Which statement BEST describes T...

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Sales Comparison Approach McKissock Class questions with 100% correct answers

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Sales Comparison Approach McKissock ClassWhat is created in the mind of an individual or market participant? - correct answer Value What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? - correct answer Desire As the term applies to ap...

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Residential Market Analysis and Highest & Best Use with correct answers 100%

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Residential Market Analysis and Highest & Best UseA property owner constructs a six-car garage at a cost of $80,000. It only adds $40,000 in value to the property. What economic principle does this best demonstrate? - correct answer Contribution What are the four agents of production? - correct a...

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McKissock Liberty University -Reconciliation Key Terms - McKissock well answered rated A+

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Reconciliation Key Terms - the process of considering the quantity and quality of data available. It is required in all appraisal assignments, and it is not a simple matter of averaging or checking the work for errors. - correct answer reconciliation An appraiser has completed the three approache...

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McKissock Liberty University -Real estate appraisal principles and procedures fully solved

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Real estate appraisal principles and proceduresREAL ESTATE Is the physical land and improvements Real property Is "the interest, benefits, and rights inherent to the ownership of real estate". These include the land, anything permanently attached or affixed to the land, anything inciden...

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McKissock Liberty University -Principles of USPAP McKissok questions with answers rated A+

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Principles of USPAP The Appraisal Practices Board (ADB) - correct answer Which independent board was created within The Appraisal Foundation in 2010? The Appraisal Foundation does not have the authority to enforce the requirements of USPAP - correct answer Which statement is TRUE regarding The ...

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McKissock-Land and Site Valuation questions & answers rated A+

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McKissock-Land and Site Valuation_________ is one of the four agents of production in economic theory. - correct answer Land Which is NOT a true statement? - correct answer The "Land Appraisal Report" is a Fannie Mae form. Land, as a physical entity, includes all of the following components ...

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McKissock Liberty University -McKissock USPAP Chapter 8 well answered to pass

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McKissock USPAP Chapter 8Standard 2 States... - correct answer 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 - correct answer Any communication, written or oral, of an appraisa...

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McKissock Liberty University -McKissock USPAP Chapter 4 verified already passed

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McKissock USPAP Chapter 4 What does the ethics rule establish? - correct answer Establishes fundamental obligations of an appraiser as part of the profession Ethics Rule - correct answer An appraiser must promote and preserve the public trust inherent in professional appraisal practice by observ...

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McKissock Liberty University -McKissock USPAP Chapter 1 correct answered

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McKissock USPAP Chapter 1USPAP Provides... - correct answer 1. A common basis for comparison 2. A reference source for all users of the document 3. A basis for uniform enforcement for state regulatory agencies 4. A reason for clients, other intended users, and the public to place their trust in t...

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McKissock Liberty University -McKissock Learning - Basic Appraisal Principles correctly answered 100%

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McKissock Learning - Basic Appraisal Principles"A document or a clause in a document in which the borrower accepts responsibility for the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt - correct answer mortgage note "The earth's surface, both land and wate...

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McKissock Basic Appraisal Principles questions well answered

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McKissock Basic Appraisal PrinciplesAn appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? - correct answer The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An apprais...

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mckissock basic appraisal principles with 100% correct answers

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mckissock basic appraisal principlesgrant deed - correct answer deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - correct answer One who is expected to perform valuation services competently and in a manner that is independent, impartial, and ...

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McKissock Basic Appraisal Principles I Final Exam Quiz fully solved

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McKissock Basic Appraisal Principles I Final Exam Quiz ASC (Appraisal Subcommittee) - correct answer The _____ has oversight authority over state appraisal boards. consideration, in writing and signed, and lawful objective - correct answer Which of the below is a requirement of a valid real esta...

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McKissock Liberty University -McKissock Appraisal Procedures well answered to pass

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McKissock Appraisal ProceduresA single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was $1,200. What is the GRM indicated by this sale? - correct answer 105.0 A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. T...

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McKissock Liberty University -McKissock - General Report Writing and Case Studies with 100% correct answers

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McKissock - General Report Writing and Case StudiesAppraisal - correct 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 - correct ...

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McKissock Liberty University -McKissock - Basic Appraisal Principles- GA Ch.10 with 100% correct answers

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McKissock - Basic Appraisal Principles- GA Ch.10Which of the following typically incurs the highest burden of management? savings account money market certificate of deposit real estate - correct answer real estate True or False? Stocks are considered a good investment because the return OF y...

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McKissock Liberty University -Chp.1 Basic Appraisal Principles, McKissock with correct answers

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Chp.1 Basic Appraisal Principles, USPAP defines an appraiser as.... - correct answer one who performs valuation services in a manner that is independent, impartial, and objective. FIRREA stands for - correct answer Financial Institutions Reform, Recovery, and Enforcement Act of 1989 What is on...

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McKissock Liberty University -Basic Appraisal Procedures McKissock with answers graded A+

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Basic Appraisal Procedures Valuation Process - correct answer Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - correct answer 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. d...

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McKissock Liberty University -Basic Appraisal Procedures Chapter 12 - Comprehensive Review Quiz with verified answers

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Basic Appraisal Procedures Chapter 12 - Comprehensive Review QuizA property has a cost new of $350,000. It has an effective age of 20 years and a total expected economic life of 65 years. There are curable items totaling $45,000. If they are cured, it will reduce the effective age to 15 years. What ...

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McKissock Liberty University -Basic Appraisal Procedures - McKissock questions with 100% correct answers

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Basic Appraisal Procedures - Valuation process - correct answer A systematic procedure used in the valuation of real property. Client - correct answer The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem - correct answ...

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Basic Appraisal Principles Final Exam with complete solutions graded A+

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Basic Appraisal Principles Final ExamIn a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? - correct answer there is a three-year supply of homes currently for sale "A business arrangement in which t...

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