Uspap exam prep - Study guides, Class notes & Summaries

USPAP Exam Prep | Questions with 100% Correct Answers | Latest Update 2024 | Verified

According to USPAP, any appraiser who signs any part of an appraisal report is required to: - sign the certification When is identification of the intended use of an appraiser's opinions and conclusions necessary in an appraisal assignment? - It is necessary in all appraisal assignments Which statement is FALSE regarding STANDARD 1? - It covers real and personal property appraisal development Which statement about appraisal trainees and workfile obligations is TRUE?. - Under USPAP, train...

McKissock Basic Appraisal Principles Exam Prep | Expected Questions and Answers (2024 / 2025) With Verified Answers An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding this situation, according to USPAP? The appraiser must disclose that a fee was paid, but does not have to disclose the amount paid. An appraiser finds out after completing an appraisal that the lender/client's loan did not close. What should the appraiser do regarding the ap...

Exam Prep (McKissock) Questions with correct Answers What does not include physical mobility, but rather the control and possession of all the rights of ownership? Purchasing Power If an appraiser is valuing real property by sales comparison, whose actions is he or she LEAST likely to consider? Government Agencies Which value characteristic implies the presence of a need or demand, which considers the monetary power to fill that need? Desire The rights and benefits inher...

Aceable Agent - Principles of Real Estate II Exam Prep Actual Questions Correctly Answered | Verified Update TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - ANSWER Formulas to calculate commission? PRINCIPAL - ANSWER What is the term that describes the money that is lent? CASH TO CLOSE - ANSWER Down payment minus earnest money? TOTAL SALES PRICE - ANSWER Loan payment + loan principal? ORIGINATION POINTS - ANSWER Loan points/fees charged 1% to co...

Basic Appraisal Principles Final Exam Prep with Approved Solutions |Latest 2024/2025 In 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? ️ there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a business and share in its profits and losses" is the definition of ️ partner transferable development rights ship Property Ow...

Aceable Agent - Principles of Real Estate II Exam Prep Actual Questions Correctly Answered | Verified Update TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - ANSWER Formulas to calculate commission? PRINCIPAL - ANSWER What is the term that describes the money that is lent? CASH TO CLOSE - ANSWER Down payment minus earnest money? TOTAL SALES PRICE - ANSWER Loan payment + loan principal? ORIGINATION POINTS - ANSWER Loan points/fees charged 1% to co...

FRELC STATE EXAM PREP QUESTIONS & ANSWERS 2023/2024 Sales Associate License - ANSWER-The first license you obtain Broker's License - ANSWER-After being active under a broker for 2 years you can complete the Broker's course (FREC II) and sit for the broker's exam Broker Associate - ANSWER-A broker who chooses to continue working under another broker Owner-developer - ANSWER-An entity who owns and sells his own property only Subdivision Plat Map - ANSWER-This is what a builder ha...

MN Course 1 Exam Prep: Licensing, Agency, and Contracts questions and answers latest top score. How many hours of education must an applicant for a salesperson's license take in Minnesota before sitting for the exam? - correct answers.30 (Course 1) How many hours of education must an applicant for a salesperson's license take in Minnesota before applying for a license? - correct answers.90 (Courses 1, 2, and 3) What's a passing percentage for the Minnesota sales...

USPAP Test Review Exam 35 Questions with Answers AQB - CORRECT ANSWER establishes minimum education, experience, etc. for certification of real property appraisers and supervisors ASB - CORRECT ANSWER revises and promulgates USPAP; responsible for subject, content, and substance of USPAP Appraisal Subcommittee - CORRECT ANSWER operations are funded by state certified appraisers thru their license renewal payment in the form of a National Registry fee. Fee is paid to states and transfe...