Uspap opinion of value - Study guides, Class notes & Summaries
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Basic Appraisal Procedures Mckissock Questions And Answers Rated A+ New Update Assured Satisfaction
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Valuation Process - Answer-Systematic set of procedures an appraiser follows to provide answers to a 
clients questions about real property value 
Appraisal Process - Answer-1. Define Problem 
2. Determine scope of work 
3. Gather Record & verify dat 
4. determine highest and best use 
5. estimate land value 
6. est. value by all three approaches 
7. Reconcile est. value into final opinion value 
8. report the final opinion 
defining problem - Answer-Identification and location of the real estat...
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REE 4103 Exam 1 botts questions with Complete solutions
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What is appraisal? Correct Answer-The act or process of developing an opinion of value of an asset 
 
What is USPAP? Correct Answer-Uniform Standards of Professional Appraisal Practice 
 
What is real estate? Correct Answer-An identified parcel or tract of land, including imporvements, if any. The physical land and appurtenances affixed to the land 
 
What is real property? Correct Answer-The interests, benefits, and rights inherent in the ownership of real estate (land, buildings, fixtures) 
 
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Real Estate Exam Review (MN and National) Rated A
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Real Estate Exam Review (MN and 
 
National) Rated A 
 
Attorney's Opinion of Title 
a written opinion by an attorney who will investigate to make sure that the seller of the property 
is indeed the owner, and whether there are any "clouds" on the title such as encumbrances, 
claims, or questionable interests. To render this opinion, the attorney will review a search of 
public records and examine the abstract of title, which is a written history showing transfers of 
ownership. 
 
exists in ...
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McKissock Basic Appraisal Principles Exam Questions With Correct Answers Latest 2024/2025 (Graded A+)
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McKissock Basic Appraisal Principles Exam Questions With Correct Answers Latest 2024/2025 (Graded A+) Which entity is responsible for establishing the requirements to become an appraiser? 
CORRECT ANSWERS: the AQB 
True or False: An applicant for Certified General appraiser must possess at least an associate's 
degree from an accredited college or university. CORRECT ANSWERS: False 
The requirements for state licensed and certified appraisers had their genesis in CORRECT 
ANSWERS: FIRREA 
An ap...
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Pennsylvania Certified Evaluator Exam Questions with Answers Updated Latest 2024-2025 (100% Correct)
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Pennsylvania Certified Evaluator Exam Questions with Answers Updated Latest (100% Correct) base year - correct answereffective date of the appaisers opinion is on 
ethic rule - correct appraiser must promote & perserve the public trust 
st standards of professional ethics 
3. conduct, managemant, confidentiality 
appraiser must act competenty and in a manner that is - correct answerindependent, impartial, 
objective 
what does uspap stand for - correct answeruniform standards of the proffessio...
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McKissock Liberty University -Basic Appraisal Procedures McKissock questions with correct answers
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McKissock Liberty University -Basic Appraisal Procedures McKissock questions with correct answersValuation Process - correct answer Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value 
 
Appraisal Process - correct answer 1. Define Problem 
2. Determine scope of work 
3. Gather Record & verify dat 
4. determine highest and best use 
5. estimate land value 
6. est. value by all three approaches 
7. Reconcile est. value into final o...
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Sales Comparison Approach McKissock Class Question and answers already passed
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Sales Comparison Approach McKissock Class Question and answers already passed Sales Comparison Approach McKissock Class 
 
What is created in the mind of an individual or market participant? - correct answer Value 
 
What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? - correct answer Desire 
 
As the term applies to appraisal, transferability refers to the number of goods and services that can be purchased with a unit of currency. (T/...
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Basic Appraisal Procedures Mckissock Set Questions And Verified Correct Answers
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Basic Appraisal Procedures 
Mckissock Set Questions And 
Verified Correct Answers 
Valuation Process - ANSWER Systematic set of procedures an 
appraiser follows to provide answers to a clients questions about 
real property value 
Appraisal Process - ANSWER 1. Define Problem 
2. Determine scope of work 
3. Gather Record & verify dat 
4. determine highest and best use 
5. estimate land value 
6. est. value by all three approaches 
7. Reconcile est. value into final opinion value 
8. report th...
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McKissock Liberty University -Sales Comparison Approach McKissick Class with answers
- Exam (elaborations) • 37 pages • 2024
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McKissock Liberty University -Sales Comparison Approach McKissick Class with answersWhat is created in the mind of an individual or market participant? - correct answer Value 
 
What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? - correct answer Desire 
 
As the term applies to appraisal, transferability refers to the number of goods and services that can be purchased with a unit of currency. (T/F) - correct answer True 
 
What does n...
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McKissock Basic Appraisal Principles Exam Questions With Answers Latest 2024/2025 Graded A+
- Exam (elaborations) • 39 pages • 2024
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McKissock Basic Appraisal Principles | 519 QUESTIONS With Answers Latest 2024/2025 Graded A+. The primary purpose of USPAP is to protect CORRECT ANSWERS: public trust 
Normally the first step in highest and best use analysis is to research the uses that are 
CORRECT ANSWERS: legally permissible 
An appraiser is appraising a property with two structures on one tract of land. The client asks the 
appraiser not to mention the second structure, as it is in poor condition. Which statement is 
TRUE re...
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