Real Estate Appraisal Quiz

Real Estate Appraisal Quiz

University

70 Qs

quiz-placeholder

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Real Estate Appraisal Quiz

Real Estate Appraisal Quiz

Assessment

Quiz

Business

University

Easy

Created by

melanini ispopin

Used 8+ times

FREE Resource

70 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An appraisal can be simply described as-

A opinion of value  

A statement

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

People turn to professionals for appraisals in order to-

Get a more reliable estimate of value than their own

Get an unbiased and disinterested estimate of value

Obtain a document capable of being reviewed

ALL THE ABOVE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following suggests a market transaction, rather than a legal transaction, that may require an appraisal?

Exercise of a purchase option  

purchasing a house

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not true?

Fixtures are always personal property even when attached to real estate  

personal property

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The four components of real property include-

Land, permanently affixed objects, appurtenant rights, and that which is immovable by law  

land, house, objects

cars, house, land,

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following requires using a Hypothetical Condition, as defined in USPAP?

A prospective appraisal  

introspective appraisal

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The first step in the appraisal process is to-

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