Mckissock

Mckissock Residential Market Analysis and Highest & Best Use| 324 QUESTIONS| WITH COMPLETE SOLUTIONS The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property -Correct Answer-Land and the Buildings ________________ involves subdividing the larger market into a workable study area. -Correct Answer-Market Identification The ________________ Cycle of a neighborhood is characterized by demand and supply trending toward equ...

Mckissock Residential Market Analysis and Highest & Best Use| 324 QUESTIONS| WITH COMPLETE SOLUTIONS A property owner constructs a six-car garage at a cost of $80,000. It only adds $40,000 in value to the property. What economic principle does this best demonstrate? -Correct Answer-Contribution What are the four agents of production? -Correct Answer-land, labor, capital, coordination The principle of contribution is most closely associated with: -Correct Answer-the Sales Comparison Appro...

Which of these is NOT one of the four agents of production? Entreprenuerial coordination Materials Capital Labor - Materials What are the four agents of production? - Land, Labor, Capital, Entrepreneurial Coordination What entity is considered the authority on determining when the U.S. economy is in a recession? - National Bureau of Economic Research What is an early indicator of a declining market? - Rising vacancy rates How many quarters for a recession? - Two ...

grant deed - deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. narrative report - A written communication of the re...

Valuation Process - Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final opinion value 8. report the final opinion defining problem - Identification and location of the real estate Identi...

People tend to purchase homes in areas with amenities and facilities, and where they feel insulated from adverse property conditions. This is an example of the principle of: Conformity Substitution Change Competition - Conformity Which of these can increase conformity in a neighborhood? Covenants, Conditions and Restrictions zoning ordinances ordinances specifying minimum site sizes and setbacks all of these - all of these With regard to the four agents of production, whi...

promote and maintain, public trust - Answer-The intent of USPAP is to ____________ a high level of __________ in professional appraisal practice. wage levels - Answer-Which of the following would NOT be considered a governmental influence on value? employment rates - Answer-Which would NOT be considered factors in supply analysis? escheat - Answer-Which of these would be considered a public restriction on real property ownership? 3000 - Answer-The number of required experience hours ...

15-hour National USPAP Course - McKissock Question and answer verified to pass15-hour National USPAP Course - McKissock USPAP contains what 4 sections? - correct answer 1) The Preamble 2) Definitions 3) Rules 4) Standards USPAP Provides... - correct answer 1. A common basis for comparison 2. A reference source for all users of the document 3. A basis for uniform enforcement for state regulatory agencies 4. A reason for clients, other intended users, and the public to place their ...

Appraisal Procedures - Mckissock Quiz Questions and answers verified to passAppraisal Procedures - Mckissock Quiz Questions True or False: An appraiser's client must always directly engage the appraiser. - correct answer False A step-by-step procedure that can be applied to any type of appraisal assignment is - correct answer The valuation process True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. - correct answe...

Basic Appraisal Principles Final Exam Question and answers already passed Basic Appraisal Principles Final Exam In a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? - correct answer there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a business and share in its profits and losses" is the definition of - correct answer pa...