Form 1004 - Study guides, Class notes & Summaries

What does D.U.S.T. stand for? Demand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance Loan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. principle of contribution the forces acting on a parcel of land are always affecting the value of the land PRINCIPLE OF CHANGE the legal use that gives the greatest return in money and/or amen...

NMLS SAFE EXAM QUESTIONS WITH SOLUTIONS What does TILA stand for? Truth-In-Lending Act, Regulation Z What is a HELOC loan? a secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? LTV stands for Loan to Value Define PMI and state what the acronym stands for. Private mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is it waived for? Dis...

Principles of Real Estate 2 Champion Questions and Correct Solutions 2024 An opinion of value - Answer -The appraised value of a property is: assessed value - Answer -the amount that your local government determines your property to be worth for tax purposes subject property - Answer -The property that is being appraised. ad valorem - Answer -according to value Principle of Conformity - Answer -Maximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (...

CESHOP Real Estate Appraisal Practice Tests Questions With Complete Solutions

NMLS SAFE EXAM 2024 Questions With Verified Answers What does TILA stand for? - answerTruth-In-Lending Act, Regulation Z What is a HELOC loan? - answera secured loan in that you are borrowing against the equity that has been built in your house What is a REFI loan? - answer LTV stands for - answerLoan to Value Define PMI and state what the acronym stands for. - answerPrivate mortgage insurance- on conventional loans Define one time variable funding fee and people in what situations is i...

Principles of Real Estate 2 Exam With 100% Correct Answers 2024 What helps overcome the difficulties of objectively estimating the value of properties? - answerAppraisals The approach used as the best indicator of value for existing properties - answerSales Comparison Refers to the loss in desirability of the style, layout, or function of an element of a property over time - answerFunctional obsolescence The price a willing seller will sell for, and the price a willing buyer will pay - a...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 An opinion of value - answerThe appraised value of a property is: assessed value - answerthe amount that your local government determines your property to be worth for tax purposes subject property - answerThe property that is being appraised. ad valorem - answeraccording to value Principle of Conformity - answerMaximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (Uniform Sta...

Tier 1 testing = correct answers Length, loss, polarity O.L.T.S Tier 2 testing = correct answers Tier 1 testing plus O.T.D.R TIA-526-14 [OFSTP-7] = correct answers Singlemode TIA-526-14 [OFSTP-14] = correct answers Multimode Within the ITS industry a theoretical standard level ratio of measurement is 0 dBm = correct answers - 0 dBm = 1milliwatt [1mW] of power at a frequency of 1004 Hz across an impedance of 600 ohm - Where the dB is a ratio between two values, dBm is an actual measu...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 An opinion of value - answerThe appraised value of a property is: assessed value - answerthe amount that your local government determines your property to be worth for tax purposes subject property - answerThe property that is being appraised. ad valorem - answeraccording to value Principle of Conformity - answerMaximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (Uniform Sta...

An opinion of value - ANSWER The appraised value of a property is: assessed value - ANSWER the amount that your local government determines your property to be worth for tax purposes subject property - ANSWER The property that is being appraised. ad valorem - ANSWER according to value Principle of Conformity - ANSWER Maximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (Uniform Standards of Professional Appraisal Practice) - ANSWER Standards ...