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MCKISSOCK CHAPTER 11 EXAM REVIEW QUESTIONS AND ANSWERS ALL CORRECT

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MCKISSOCK CHAPTER 11 EXAM REVIEW QUESTIONS AND ANSWERS ALL CORRECT How can expansion effect a neighborhood? - Answer-Leads to job creation and increased tax revenue to where consumers are willing to spend more money and take on more debt. How can contraction effect a neighborhood? - Answer-job losses which may cause consumers to stop spending money. For Example: a recession Recession - Answer-A slowdown in a nation's economy Gross domestic product (GDP) - Answer-A measure of the ...

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MCKISSOCK CHAPTER 3 EXAM REPORTED QUESTIONS WITH CORRECT DETAILED ANSWERS

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MCKISSOCK CHAPTER 3 EXAM REPORTED QUESTIONS WITH CORRECT DETAILED ANSWERS Fee simple conditional (defeasible) - Answer-A conditional ownership that will terminate when certain conditions are not made. An Example: A farmer renting property to grow crops but instead they use the property to operate a resort for animals. Fee Simple Estate - Answer-The property owner has the FULL BUNDLE OF RIGHTS, subject only to limitations imposed by governmental powers. Leased fee interest - Answer-lessor...

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MCKISSOCK CHAPTER 10 40 HOUR TRAINING 2024 QUESTIONS AND ANSWERS

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MCKISSOCK CHAPTER 10 40 HOUR TRAINING 2024 QUESTIONS AND ANSWERS monetary policy implementation - Answer-Influencing short-term interest rates to affect the availability and cost of credit in the economy and, ultimately the economic decisions businesses and households make. ALSO know as D-O-R-M. An example of Moral Suasion... - Answer-How the exchange rate has a growing influence between countries when it comes to the value of the U.S. dollar. The Fed is highly involved in monetary issues w...

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MCKISSOCK BASIC APPRAISAL PRINCIPLES CERTIFICATION EXAM QUESTIONS AND ANSWERS

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MCKISSOCK BASIC APPRAISAL PRINCIPLES CERTIFICATION EXAM QUESTIONS AND ANSWERS market neighborhood - Answer-group of complementary land uses, congrugous grouping of inhabitants district - Answer-neighborhood characterized by homo land use market area - Answer-geographic region from which a majority of demand comes and in which the majority of competition is located amenity - Answer-benefit of real estate that enhances attractiveness of the user real estate money demand - Answer-Curr...

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MCKISSOCK COMBINED QUIZZES EXAM REPORTED QUESTIONS AND ANSWERS

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MCKISSOCK COMBINED QUIZZES EXAM REPORTED QUESTIONS AND ANSWERS State appraisal regulatory agencies - Answer-Who is responsible for issuing credentials to individual appraisers? State appraiser licensing/certification agencies - Answer-Under FIRREA, USPAP is enforced by: Appraisal Subcommittee (ASC) - Answer-Which entity maintains the official national registry of statecertified and licensed appraisers? Development, reporting - Answer-In USPAP, the appraisal process is divided into tw...

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MCKISSOCK USPAP DEFINATIONS CHAPTER 2 EXAM REVIEW QUESTIONS AND ANSWERS

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MCKISSOCK USPAP DEFINATIONS CHAPTER 2 EXAM REVIEW QUESTIONS AND ANSWERS Workfile - Answer-Documentation necessary to support an appraiser's analysis, opinions, and conclusions. Valuation Services - Answer-Services pertaining to aspects of property value Appraisal Practice - Answer-Valuation services performed by an individual acting as an appraiser, including but not limited to appraisal and appraisal review. Appraisal Practice is a subset of... - Answer-Valuation Services Apprai...

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BASIC APPRAISAL PROCEDURES MCKISSOCK EXAM WITH COMPLETE QUESTIONS AND CORRECT ANSWERS

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BASIC APPRAISAL PROCEDURES MCKISSOCK EXAM WITH COMPLETE QUESTIONS AND CORRECT ANSWERS ground rent capitalization method - Answer-estimating land value applied by capitalizing ground rent at a market-derived rate Uniform appraisal dataset - Answer-standardized reporting requirements used in residential mortgage lending appraisal reports manufactured home - Answer-factory built house manufactured under the Fed Manufactured home Construction and safety standards act of 1976 modular home ...

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MCKISSOCK USPAP CHAPTER 1 REAL ESTATE EXAM QUESTIONS AND ANSWERS

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MCKISSOCK USPAP CHAPTER 1 REAL ESTATE EXAM QUESTIONS AND ANSWERS Responsibilities of the Appraisal Subcommittee (ASC) - Answer--Has authority to monitor the Appraisal Foundation - Oversee the activities of state licensure and certification agencies Who establishes the minimum qualifications criteria for appraisers and standards for practice? - Answer-The AQB and the ASB 10 USPAP Standards (4 and 5 are gone) - Answer-1. Real Property Appraisal, Development 2. Real Property Appraisal, Re...

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MCKISSOCK USPAP CHAPTER 7 TRAINING COURSES QUESTIONS AND ANSWERS

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MCKISSOCK USPAP CHAPTER 7 TRAINING COURSES QUESTIONS AND ANSWERS Standard Rule 1-4 (c) - Answer-(i) analyze such comparable rental data as are available and/or the potential earnings capacity of the property to estimate the gross income potential of the property; (ii) analyze such comparable operating expense data as are available to estimate the operating expenses of the property; (iii) analyze such comparable data as are available to estimate rates of capitalization and/or rates of dis...

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MCKISSOCK USPAP CHAPTER 8 EXAM QUESTIONS WITH CORRECT ANSWERS

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MCKISSOCK USPAP CHAPTER 8 EXAM QUESTIONS WITH CORRECT ANSWERS When can a restricted report be used? - Answer-A Restricted Appraisal Report is for client use only, and may only be used when the client is the only intended user of the assignment results. In an Appraisal Report, the appraiser must, at a minimum: - Answer-state the intended use of the appraisal. The content of an Appraisal Report must, at a minimum: - Answer--summarize information sufficient to identify the real estate inv...

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