Appraisal institute - Study guides, Class notes & Summaries

Functional obsolescence - Answer- Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - Answer- best indicator of value for existing properties highest and best use - Answer- the legal use for property that gives the greatest return in money and/or amenities external obsolescence - Answer- the loss in value of a property caused by factors outside the property itself principle of contribution - Answer- suggests the...

Basic Appraisal Procedures Exam Questions and Answers Latest 2024/2025 (Already GRADED A+) Valuation process A systematic procedure used in the valuation of real property. Client The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of ...

Basic Appraisal Procedures Exam Questions and Answers 2024/2025 (100% Correct) Valuation process A systematic procedure used in the valuation of real property. Client The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any s...

Appraisal (ch.1) correct answers The act of process of developing an opinion of value; an opinion of value. Appraisal Foundation (ch.1) correct answers A nonprofit organization, created by the leading appraisal organizations, which is recognized as the authority for professional appraisal standards. Appraisal Institutie (AI) (ch.1) correct answers Professional organzationfoer appraisers; created in 1990 by the merger of the American Institute of Real Estate Appraisers and society of Reside...

Valuation process - correct answer-A systematic procedure used in the valuation of real property. Client - correct answer-The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem - correct answer-Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any special limiting conditions ...

Polit & Beck Canadian Essentials of Nursing Research 4th Edition Woo Test Bank Polit & Beck Canadian Essentials of Nursing Research 4th Edition Woo Test Bank Chapter 1. Introduction to Nursing Research in an Evidence-Based Practice Environment 1. What is the highest priority for the importance of research in the nursing profession? A) Research findings provide evidence for informing nurses' decisions and actions. B) Conduct research to better understand the context of nursing practice. C) Docum...

Valuation process - Answer-A systematic procedure used in the valuation of real property. Client - Answer-The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem - Answer-Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any special limiting conditions Real property - Answer-The ...

Principles of Real Estate Questions With Correct Answers. brokerage Overseeing the needs of the parties to a real estate transactions and seeing it to its completion. appraisal Providing a professional opinion of the value of real property. mortgage lending Is the business of providing money to individuals or corporations for the conditional transfer or pledge of real estate as security for the payment of a debt. RMLOs Residential Mortgage Loan Originators Residential M...

Steps to developing benchmarks - 1. determine what to benchmark 2. form a benchmark team 3. identify benchmarking partners 4. collect and analyze benchmarking information 5. take action to match or exceed the benchmark ISO 9000 - A set of quality standards developed by the International Organization for Standardization (ISO). Focus is to establish quality management procedures through leadership, detailed documentation, work instructions and record keeping. Quality - the ability of a pro...

Basic Appraisal Procedures Exam Questions and Answers Updated 2024/2025 (GRADED A+) A systematic procedure used in the valuation of real property. Client The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any special limitin...