APPRAISAL PRINCIPLES MCKISSOCK EXAM PRACTICE UPDATE|EXAM QUESTIONS WITH MULTIPLE CHOICES |VERIFIED & REVISED ANSWERS (NEW)!!!

APPRAISAL PRINCIPLES MCKISSOCK
EXAM PRACTICE UPDATE|EXAM
QUESTIONS WITH MULTIPLE
CHOICES |VERIFIED & REVISED
ANSWERS (NEW)!!!
WhichmcharacteristicmwouldmNOTmbemassociatedmwithmamgoodmappraiser?

A)mDiligentm

B)mBiasedm

C)mCompetent

D)mHonestm-mCORRECTmANSWERmB)mBiased



Whichmcollege-levelmcoursemwouldmprobablymbemLEASTmhelpfulmtomanmappraiser?m

A)mBiologym

B)mUrbanmplanningmandmlandmusem

C)mEnglischmcompositionm

D)mStatisticsm-mCORRECTmANSWERmA)mBiology



TruemormFalse:mAllmappraisalsmarempreformedmformmortgagemlendingmpurposes.m-
mCORRECTmANSWERmFalso




Anmappraisermismdefinedmasm"onemwhomismexpectedmtomperformmvaluationmservicesm___,mandminmam
mannermthatmismindependent,mimpartial,mandmobjective."



A)mrealistically

B)mpromptly

,C)mobedientlym

D)mcompetentlym-mCORRECTmANSWERmD)mcompetently



TruemofmFalse:mAmcoursemismsociologymwouldmprobablymnotmbembeneficialmtomanmappraiser.m-
mCORRECTmANSWERmFalse




TruemormFalse:mWhenmcompletingmanmappraisalmassignment,manmappraisermmaymbemanmadvocatemf
ormonemparty'sminterest.m-mCORRECTmANSWERmFalse



Whichmentitymismresponsiblemformestablishingmthemrequirementsmtombecomemanmappraiser?



A)mthemAQB

B)mthemASB

C)mHUD/FHA

D)mthemAPBm-mCORRECTmANSWERmA)mthemAQB



Themrequirementsmformstatemlicensedmandmcertifiedmappraisersmhadmtheremgenesisminm



A)mthemHVCC

B)mthemDoff-FrankmAct

C)mvariousmfederalmfairmhousingmlawsm

D)mFIRREAm-mCORRECTmANSWERmD)mFIRREA



Themcurrentmrequirementsmformrealmpropertymappraisermlicensingmandmcertificationmwentmintomeff
ectmon



A)mJulym1,m2011

,B)mJulym1,m2015

C)mMaym1,m2018

D)mJanuarym1,m2012m-mCORRECTmANSWERmC)mMaym1,m2018



Amcertifiedmresidentialmappraisermneedsm____mhoursmofmcontinuingmeducationmpermyearmtomrenew
mhismormhermcertificationm




A)m7

B)m14

C)m21

D)m22m-mCORRECTmANSWERmB)m14



Amlicensedmormcertifiedmappraisermmustmtakem7-hourmUSPAPmUpdatemcoursem



A)meverymyearm

B)meverym2myearsm

C)meverym3myearsm

D)monlymatmthemtimemofminitialmlicensuremormcertificationm-mCORRECTmANSWERmB)meverym2myears



TruemormFalse:mEverymstate'smappraisermcertificationmexaminationmismdifferent.m-
mCORRECTmANSWERmFalse




TruemormFalse:mAnmapplicantmformCertifiedmGneralmappraisermmustmpossessmatmleastmanmassociatesm
degreemfrommanmaccreditedmcollegemormuniversitym-mCORRECTmANSWERmFalse



AnmapplicantmwhomwishesmtomcomemamCertifiedmResidentialmappraisermmustmhavemaccumulatedmam
minimusmofm______mhoursmofmappraisalmeducationm

, A)m75

B)m120

C)m150m

D)m200m-mCORRECTmANSWERmD)m200



TruemormFalse:mAmstatemlicensedmresidentialmappraisermmaymnotmsupervisemanmappraisalmtraineem-
mCORRECTmANSWERmTrue




HowmmanymexperiencemhoursmaremrequiredmasmamprerequisitemformAppraisermTraineemclassificatio
nm



A)m500mhours

B)m2,000mhoursminmnomfewermthanm12mmonths

C)m2,500mhoursminmnomfewermthanm24mmonthsm

D)mTheremismnomprerequisitemformAppraisermTraineemclassificationm-
mCORRECTmANSWERmD)mTheremismnomprerequisitemformAppraisermTraineemclassification




Howmmanymexperiencemhoursmaremrequiredmtombecomemamcertifiedmresidentialmappraisermaccordi
ngmtomthem2018mAQBmCriteria?



A)m1,000mhoursminmnomfewermthanm12mmonths

B)m1,500mhoursminmnomfewermthanm12mmonths

C)m2,000mhoursminmnomfewermthanm24mmonths

D)m3,000mhoursmwhichmincludesm1,500mhoursminmnon-residentialmappraisalm-
mCORRECTmANSWERmB)m1,500mhoursminmnomfewermthanm12mmonths