Appraiser a - Study guides, Class notes & Summaries

What can proper drainage do for a building site? - Protect the foundation The ______ method converts a single year's expected income (or an annual average) into a market value. - Direct Capitalization Basic property rights include the rights of possession, control, exclusion, enjoyment, and ______. - Disposition What type of value may consumers be interested in if they are looking for the potential rate of return? - Investment Value How are adjustments made in the analysis used in the sa...

A 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 ANSWERS: Contribution What are the four agents of production? CORRECT ANSWERS: land, labor, capital, coordination The principle of contribution is most closely associated with: CORRECT ANSWERS: the Sales Comparison Approach (The contributory value of a given amenity is the public's perception of its actual contribu...

Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by insurers to reflect an item's current market value right before being damaged ...

Which of the following would create legally binding acceptance of a written offer? -The seller's agent emails the buyer's agent that the seller signed the offer as written. A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet. A comparable property has 2750 square feet. The estimated value of 450 additional square feet is $22,500. The broker should... -Add $22,500 to the sales price of the comparable property. An option to purchase has bee...

In PA, a consumer reporting agency may list all of the following information about a consumer EXCEPT: - Medical Information The device that synchronizes the spark plug firing sequence is: - Camshaft Sensor If an insured fail to report a claim in a timely fashion the adjuster will usually: - Send the insured a reservation of rights letter When using a dedicated bench fixture to measure a unibody with front-end damage, where should fixtures be placed? - Fixtures should be placed in the damag...

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 - ANSWERSConsequential 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 floor The quarter panels The frame rails - ANSWERSThe frame rail...

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 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 floor The quarter panels The frame rails The frame rails In auto p...

Education Experience Examination correct answers The requirements established by the AQB Real Property Appraiser Qualification Criteria can be placed into what three general categories? May 1, 2018; before that 2015; before that 2008 correct answers When were the most recent revisions made to the Real Property Appraiser Qualification Criteria? college-level education requirements and experience requirements. The 2018 revisions actually reduced some of the requirements, including elim...

The AQB requirement is that an applicant for a Trainee Appraiser credential must have completed _____ hours of appraisal education, including the __________ course. A) 60, Basic Appraisal Procedures B) 75, 15-Hour National USPAP or equivalent C) 200, Residential Site Valuation and Cost Approach D) 120, 7-hour National USPAP Update correct answers B) 75, 15-Hour National USPAP or equivalent To obtain a Licensed Residential Appraiser credential, an applicant must obtain ______ creditable ho...

The AQB requirement is that an applicant for a Trainee Appraiser credential must have completed _____ hours of appraisal education, including the __________ course. a)120, 7-hour National USPAP Update b)200, Residential Site Valuation and Cost Approach c)75, 15-Hour National USPAP or equivalent d)60, Basic Appraisal Procedures correct answers c)75, 15-Hour National USPAP or equivalent To obtain a Licensed Residential Appraiser credential, the AQB Criteria requires an applicant to accumula...