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