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MA Salesperson Exam Module 8: Property Valuation Study Guide Solutions
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MA Salesperson Exam Module 8: Property Valuation Study Guide Solutions appraisal - ANSWER-estimate of value of property Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 - ANSWER-o appraisers must have an appraisal license to make an appraisal for federally re...

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  • November 4, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • ma salesperson exam module 8 property valuation s

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  • MA Salesperson
  • MA Salesperson

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KaylinHoffman

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024




MA Salesperson Exam Module 8: Property

Valuation Study Guide Solutions


appraisal - ANSWER✔✔-estimate of value of property


Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 - ANSWER✔✔-o

appraisers must have an appraisal license to make an appraisal for federally related real estate

transaction secured by real estate (and for any non-secured real estate transactions over $250,000 value)

which covers move RE sales


comparative market analyses - ANSWER✔✔-RE agents can only make these


narrative report - ANSWER✔✔-written form in which the appraiser reports their estimate of value


also known as Or Uniform Residential Appraisal Report (URAR, or Fannie Mae/Freddie Mac Form 1004)


when the transaction is federally related - ANSWER✔✔-a licensed appraiser is required when


value - ANSWER✔✔-how much a ready, willing, and able buyer will pay for something and how much an

informed seller will accept


demand - ANSWER✔✔-the number of people that want the property and are actually able to do so


Utility - ANSWER✔✔-something's usefulness. The more useful, the more demand


supply - ANSWER✔✔-or scarcity; the more plentiful, the less it is worth


transferability - ANSWER✔✔-sellable RE must be free from clouds on title.



Copyright ©Stuvia International BV 2010-2024 Page 1/7

, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024


-Known as having a good and clear title or marketable title


-RE with defects has lower value


market price - ANSWER✔✔-actual amount paid in the market


value in use - ANSWER✔✔-the value to a particular property


cost - ANSWER✔✔-the total cost to build a property


investment value - ANSWER✔✔-the value of a property to investors


insurable value - ANSWER✔✔-the value of a property for insurance


Comprehensive Loss Underwriting Exchange (CLUE) - ANSWER✔✔-records past consumer claims that are

used in a homeowner's insurance underwriting


assessed value - ANSWER✔✔-the tax value of a property


liquidation value - ANSWER✔✔-the foreclosure value of a property


change - ANSWER✔✔-change over time in response to general economic climate, interest rates,

inflation, employment, etc.


anticipation - ANSWER✔✔-benefit a property owner expects to receive over their lifetime or ownership


substitution - ANSWER✔✔-o buyers will not pay more for something than they have to pay for a

comparable good.


§ as a result, owners can't change much more for their property than the surrounding comparable

properties are selling for




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