Appraisal final exam - Study guides, Class notes & Summaries

REAL ESTATE APPRAISAL FINAL EXAM

Basic Appraisal Procedures Complete Final Exam ...

Real Estate Appraisal Final Exam Questions And Answers Latest Update

Real Estate Appraisal Final Exam Questions And Answers Latest Update 2024

The right of the sovereign government to take private property for public use upon the payment of just compensation is CORRECT ANSWER Eminent domain A person owning less than an entire bundle of rights in real estate is said to have CORRECT ANSWER Partial interest Real estate appraisers perform analyses and render opinions or conclusions relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified CORRECT ANSWER real estate According to law, fi...

APPRAISAL FINAL EXAM QUESTIONS WITH COMPLETE SOLUTIONS,PASSED TO SCORE A+

What is the difference between a formal and informal appraisal? CORRECT ANSWER a formal appraisal relies upon the collection and analysis of relevant data instead of intuition Definition of Market Value? CORRECT ANSWER the most probable selling price What are the ethics standards covered by USPAP? CORRECT ANSWER Conduct Confidentiality- don't tell anyone value except your client Competency Management Record keeping- have to keep for 5 years Scope of Work Jurisdictional Exception ...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

Which circumstance might cause a transaction NOT to be arm's length? - Answer- a. market conditions are known by seller b. Property has been adequately exposed c. seller was not influenced by hast or duress d. seller was not knowledgeable of value ANSWER: D A document also referred to as a tax or assessors map is a(n) - Answer- a. assemblage plan b. plat map c. plottage map d. none of the above ****ANSWER: B If a property's effective gross income is $14,351.40 and vacancy is ...

Real Estate Finance I-Champions Final Exam 2024 The minimum downpayment on a VA loan is: (a) 2% of the sales price (b) 0% of the sales price (c) 3.75% of the sales price (d) 1% of the sales price - CORRECT ANSWER-B _________ is the process of creating a new mortgage loan. (a) Origination (b) Funding (c) Underwriting (d) Servicing * - CORRECT ANSWER-A A veteran can have more than one VA loan: (a) If the prior VA loan was paid in full and the property disposed of (b) The prior VA l...