Uspap test 4 Study guides, Class notes & Summaries

BASIC APPRAISAL PRINCIPLES TEST STUDY QUESTIBASIC APPRAISAL PRINCIPLES TEST STUDY QUESTIONS True or False? When developing an opinion of site value of an improved property, an appraiser needs to consider the highest and best use of the property as though vacant. - ANS TRUE When developing an opinion of highest and best use, what is the final criteria that is applied? - ANS maximally productive A lot owner constructs a new 4,000 square foot home in a neighborhood of mostl...

BASIC APPRAISAL PRINCIPLES TEST STUDY QUESTIONS True or False? When developing an opinion of site value of an improved property, an appraiser needs to consider the highest and best use of the property as though vacant. - ANS TRUE When developing an opinion of highest and best use, what is the final criteria that is applied? - ANS maximally productive A lot owner constructs a new 4,000 square foot home in a neighborhood of mostly 800 to 1,200 square foot homes. The value ...

Duties of the Assessor - Answer- Discover, List, Value USPAP - Answer- Uniform Standards of Professional Appraisal Practice Formula for a Tax Rate - Answer- Budget-Revenues from other sources/Total Assessed Value Budget - Answer- The numerator in developing a tax rate Total Assessed Value - Answer- The denominator in developing a tax rate Assessment Ratio - Answer- Assessed Value/Market Value EAT Triangle - Answer- Effective Tax Rate Formula Effective Tax Rate - Answer- Tax ...

Duties of the Assessor - Answer- Discover, List, Value USPAP - Answer- Uniform Standards of Professional Appraisal Practice Formula for a Tax Rate - Answer- Budget-Revenues from other sources/Total Assessed Value Budget - Answer- The numerator in developing a tax rate Total Assessed Value - Answer- The denominator in developing a tax rate Assessment Ratio - Answer- Assessed Value/Market Value EAT Triangle - Answer- Effective Tax Rate Formula Effective Tax Rate - Answer- Tax ...

appraisal final exam Appraisal standards require, in a market value assignment, for the appraiser to analyze a current agreement of sale if - ANS required for credible assignment results. Once an appraiser accepts an appraisal assignment the appraiser must - ANS properly identify the problem to be solved in the assignment. An appraisal is a value - ANS opinion Appraisal practice is a valuation service provided by - ANS only those individuals who are ac...

Indiana Real Estate License Law Questions and Answers 100% Pass Client A licensee has an agency relationship with, and is representing, the individual with whom the licensee is working. Customer One with whom there is NO agency relationship. Ex People just calling for information or attending open house. Broker-salesperson or Associate Broker A broker who COULD operate as a principle broker but CHOOSES to affiliate with a principal broker and operate under their license. In-House Agency Indiv...

Basic Appraisal Procedures, test review "The age of property that is based on the amount of observed deterioration and obsolescence it has sustained" is the definition of ____________ age. - ANS effective In what type of heating system would you find an expansion tank? - ANS hot water Which of the following would be general data? - ANS mortgage rates, unemployment rates, property tax rates A comparable new house just sold for $440,000. You estimate the value of t...

USPAP Uniform Standards of Professional Appraisal Practice recognized as the Industry standard in 1989 by FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act) Competency Rule If not competent in property type hired to appraise, you must disclose that or turn it down. If another appraiser helps you, you must report that and who it was. Scope of Work how much and what kind of work needed... type of data to be searched in order to reach conclusions Chapter ...

Azure Tide Section 16 Test Question with Answers The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) is a provision under Title XI that mandates states to license and certify appraisers. - Answer- True In real estate, the definition of highest and best use is always based on how the property is currently being used. - Answer-False The definition of highest and best use involves four tests. It is 1. the most probable use of land or improved property that is legally po...

Bob Hogue - Pre Lic. Test Questions With Correct Answers100%Solved Which statement concerning broker's price opinions (BPOs) is TRUE? A) The payment for a BPO must be paid to the broker and not directly to the sales associate who prepared the BPO. B) A broker's license is required to conduct a BPO. C) A BPO is also referred to as an appraisal of real property. D) All BPOs must conform to Uniform Standards of Professional Appraisal Practice (USPAP). - correct answer...A Which document...