Chapter 8 Flashcards
How many classroom hours are required to become a licensed residential appraiser?
75
A written price opinion for a fee must identify
Intended purpose
The purpose of a market analysis and giving an opinion of price is to what
Secure perspective listings or sale
Who can provide a price opinion for a fee?
An active broker or associate broker
The cost approach is based on what
Cost less depreciation plus land
The cost approach will provide the most accurate value when applied to what
New construction
The income approaches best used with
Apartment complexes
How many hours of experience are required to become a licensed residential appraiser?
1000 hours
Where can information be obtained to become a real estate appraiser?
Bureau of occupational licensing
What type of comparable properties are generally used as the basis of a CMA comparable market analysis
Recently sold properties
Based on ANSI Z765-2003, what is the minimum ceiling height excluding beams?
7 feet
Based on ANSI Z765-2003, square footage is not calculated within an area that is less than
5 feet
What part of a home is included in calculating square footage
Stairways
The use of the ANSI standard for various governmental agencies for measuring square foot is
Accepted
A broker price opinion can be rendered by
Associate broker and or the designated broker
What is the appraisal form called that is accepted by Fannie Mae and Freddie Mac
Uniform residential appraisal report
