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Question 1 of 30
Which of the following inspections will not be part of the appraiser’s job?
Question 2 of 30
The appraiser’s value estimate is based on:
Question 3 of 30
The sales comparison approach is best used on:
Question 4 of 30
Are cost and value the same amount of money?
Question 5 of 30
Is the garage area of a single-family dwelling included in the square footage?
Question 6 of 30
Which of the following is not part of the appraisal report?
Question 7 of 30
Do the terms and conditions of a sale ever influence why a property sold for the price the seller received?
Question 8 of 30
Does FNMA require the appraiser to do the cost approach on form 1004 for all properties?
Question 9 of 30
Superior maintenance and remodeling of a property might influence a property’s effective age in:
Question 10 of 30
Are recent sales the only data considered for an appraisal or CMA?
Question 11 of 30
Market value and market price are:
Question 12 of 30
Which of the following is least likely to influence the value of a home?
Question 13 of 30
Which would influence an appraiser’s value estimate the most?
Question 14 of 30
The cost of the land, plus the cost of labor and materials is used in which approach to value?
Question 15 of 30
Which approach to value does FNMA form 1004 focus on most?
Question 16 of 30
Which influences property values the least?
Question 17 of 30
Is it important to verify the accuracy of the data to be analyzed?
Question 18 of 30
Which approach to value involves adjustment to sold properties?
Question 19 of 30
What happens when demand exceeds supply?
Question 20 of 30
Tom and Betty bought a vacant lot in an area where all of the homes are 0-3 years old and are valued between $300,000 to $400,000. Which of the following is best considering they paid $90,000 for the lot?
Question 21 of 30
What type of value do most lenders care most about when making a home loan?
Question 22 of 30
A CMA and an appraisal have which item in common?
Question 23 of 30
Appraisers are expected to be:
Question 24 of 30
Which is an example of economic or external obsolescence?
Question 25 of 30
A house with a poor floor plans suffers a loss in value due to:
Question 26 of 30
Is a screened in porch part of the property’s real estate?
Question 27 of 30
Does an appraiser normally take a picture of the subject property and include it as part of the report?
Question 28 of 30
Is it illegal for real estate agents to talk to appraisers?
Question 29 of 30
What would happen if too many homes were built in an area? Would property values:
Question 30 of 30
Assessed value and appraised value are: