Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

01 Basic App Princ Quiz > Ch 1 Quiz > Flashcards

Ch 1 Quiz Flashcards

1
Q

True or False: Of the required number of experience hours required for certified general appraiser applicants, at least 1,500 hours must be in the appraisal of non-residential property.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

The number of required classroom hours for Certified General Appraisers under the current AQB criteria is ____ hours.

A

300

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

True or False: All appraisals are performed for mortgage lending purposes.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Which college-level course would probably be helpful to an appraiser?

A

Urban planning and land use, English composition, Statistics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

An applicant who wishes to become a Certified Residential appraiser must have accumulated a minimum of ______ hours of appraisal education.

A

200

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

True or False: All appraisals are performed for mortgage lending purposes.

A

FALSE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Which entity is responsible for establishing the requirements to become an appraiser?

A

the AQB

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

For licensed and certified real property appraisers, _____ class hours of continuing education are required xx xx.

A

14
each year

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

An appraiser is defined as “one who is expected to perform valuation services _________, and in a manner that is xxx xxx xxx .”

A

competently
independent, impartial, and objective

( i-i-O )

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

True or False: A state licensed residential appraiser may not supervise an appraisal trainee.

A

TRUE

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

A certified residential appraiser needs ____ hours of continuing education x to renew his or her certification.

A

14
per year

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Under the 2018 criteria, college level courses are required for

A

Certified Residential and Certified General classifications

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Who is responsible for approving education courses for licensing, certification, and re-certification of appraisers?

A

Individual states

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The four components of the Appraiser Qualification Criteria include ____________.

A

Continuing Education, Examination,
Experience and Qualifying Education

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

The number of required classroom education hours for Licensed Residential Appraisers under the 2018 AQB Criteria is ____ hours.

A

150

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

An appraisal report can be

A

either written or oral

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

As part of the overall requirement for continuing education, appraisers must complete the x-Hour National USPAP Update Course or its equivalent ________ calendar year(s).

A

7
every 2

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

How many experience hours are required as a prerequisite for Appraiser Trainee classification?

A

There is no experience prerequisite for Appraiser Trainee classification

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

The basic requirements for state licensed and state certified appraisers had their genesis in Title ___ of FIRREA.

A

XI

20
Q

True or False: A course in sociology would probably not be beneficial to an appraiser.

A

FALSE

21
Q

The requirements for state licensed and certified appraisers had their genesis in

A

FIRREA

22
Q

The nationally recognized ethical and performance standards for appraisers are known as

A

Uniform Standards of Professional Appraisal Practice

23
Q

True or False: Appraiser examinations are the same in every state, with few exceptions.

A

True.

24
Q

True or False: Every state’s appraiser certification examination is different.

A

FALSE

25
Q

According to the 2018 AQB Criteria, an applicant for Certified General Appraiser must obtain _______ experience hours in no fewer than _____ months.

A

3,000, 18

26
Q

A licensed or certified appraiser must take the 7 hour USPAP Update course

A

every 2 years

27
Q

The _____ is charged with establishing the qualifications that all the states must adopt in licensing, certification and re-certification of appraisers.

A

AQB

28
Q

An appraiser is one who is expected to perform valuation services competently and in a manner that is independent, ___________, and ____________.

A

impartial, objective

29
Q

The document transmitted to the client upon completion of an appraisal assignment is the

A

appraisal report

30
Q

As the term is used in the definition of appraiser, _________ generally means a mental state that does not favor one side over another.

A

impartial

31
Q

True or False: Some state agencies employ full-time staff appraisers.

A

TRUE

32
Q

How many experience hours are required to become a certified residential appraiser, according to the 2018 AQB Criteria?

A

1,500 hours in no fewer than 12 months

33
Q

What College degree or coursework is required for Trainee?

A

No college degree or coursework is required per AQB.

34
Q

Licensed Residential credential is xx to complete any college-level coursework, as per the AQB Criteria.

A

not required

35
Q

Under the 2018 AQB Criteria, an applicant for a Certified General license must hold ___________ degree.

A

a bachelor’s

36
Q

True or False: All appraisals are performed for mortgage lending purposes.

A

FALSE

37
Q

Which characteristics would be associated with a good appraiser?

A

diligent, competent, honest

38
Q

If you have specific questions about appraisal certification or licensure requirements in your state, you should

A

contact the appraiser licensing and certification agency in your state

39
Q

To apply for an Appraiser Trainee license, an applicant must have _____ hours of qualifying education courses and ______ creditable hours of experience.

A

75, 0

40
Q

As the term is used in the definition of appraiser, _________ generally means a mental state that does not favor one side over another.

A

impartial

41
Q

The nationally recognized ethical and performance standards for appraisers are known as

A

Uniform Standards of Professional Appraisal Practice

42
Q

True or False: A course in sociology would probably not be beneficial to an appraiser.

A

FALSE

43
Q

The appraisal of what type of property is more likely to be affected by local neighborhood conditions?

A

a single-family residence

44
Q

The current requirements for real property appraiser licensing and certification went into effect on

A

May 1, 2018

45
Q

The Licensed Residential Real Property Appraiser classification applies to the appraisal of non-complex one to four residential units having a transaction value __________ and complex one to four residential units having a transaction value ____________.

A

Less than $1,000,000, less than $250,000

46
Q

True or False: When completing an appraisal assignment, an appraiser may be an advocate for one party’s interest

A

FALSE

01 Basic App Princ Quiz (18 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions