Exam Prep (McKissock) ACTUAL EXAM QUESTIONS WITH CORRECT ANSWERS 100% VERIFIED GRADED A+

Exam Prep (McKissock) ACTUAL
EXAM QUESTIONS WITH CORRECT
ANSWERS 100% VERIFIED GRADED
A+
1. Whatmdoesmnotmincludemphysicalmmobility,mbutmrathermthemcontrolmandmpossessionmofmallm
themrightsmofmownership?m-mCORRECTmANSWERmPurchasingmPower



2. Ifmanmappraisermismvaluingmrealmpropertymbymsalesmcomparison,mwhosemactionsmismhemormsh
emLEASTmlikelymtomconsider?m-mCORRECTmANSWERmGovernmentmAgencies



3. Whichmvaluemcharacteristicmimpliesmthempresencemofmamneedmormdemand,mwhichmconsider
smthemmonetarympowermtomfillmthatmneed?m-mCORRECTmANSWERmDesire



4. Themrightsmandmbenefitsminherentminmthemownershipmofmamparcelmofmlandmwouldmbemdefine
dmas:m-mCORRECTmANSWERmRealmProperty



5. WhichmstatementmismTRUEmregardingmappraisersmandmvalue?m-
mCORRECTmANSWERmMarketmvaluemismonlymonemtypemofmvalue;mappraisersmestimatemother


mtypesmofmvaluemasmwell.




6. Whatmismthemmotivationmofmanmindividual,mgroupmofmpersons,mormbusinessmentityminvolving
mthempurchasemofmanmitem?m-mCORRECTmANSWERmDesire




7. Whatmismthemfocalmpointmofmamrealmpropertymappraisal?m-
mCORRECTmANSWERmThemvaluemofmownershipmrights




8. USPAPmcautionsmappraisersmtomusemthemdefinitionmofmmarketmvaluemthatmismspecifiedminmth
emDEFINITIONSmsectionmofmUSPAP.m-mCORRECTmANSWERmFalse.

,9. Whichmmethodsmaremmostmappropriatemtomthemsalesmcomparisonmapproach?m-
mCORRECTmANSWERmEconomicsmandmStatistics




10. AppraisermAbigailmismappraisingmamnewer,mhigh-
techmsteelmmill.mInmdelineatingmhermmarket,mwhichmofmthesemshouldmshemmostmlikelymconsi
der?m-mCORRECTmANSWERmPropertiesmwithinmamregionmormseveral-statemarea



11. Whichmmarketmisminefficient?m-mCORRECTmANSWERmRealmestatemmarket



12. ThemgrowthmratemismhigherminmCommunitymAmthanmCommunitymB,mbecausemCommunitymAm
hasmpublicmwatermandmsewagemavailable.mAsmamresult,mpropertymvaluesmaremhigherminmCom
munitymA.mThismismanmexamplemofmwhatmforcemaffectingmthemmarket?m-
mCORRECTmANSWERmEnvironmental




13. Amlarge,mold,mdilapidatedmcommercialmbuildingmsitsminmanmeconomicallymdepressedmsectio
nmofmthemcity.mTheremaremnommarketmparticipantsmwhomhavemthemfinancialmcapabilitymtomre
novatemandmusemsuchmamlargembuilding.mThismismanmexamplemofmwhatmforce?m-
mCORRECTmANSWERmEconomic




14. WhichmstatementmismTRUEmregardingmthemappraisalmdevelopmentmprocess?m-
mCORRECTmANSWERmDevelopmentmandmreportingmaremtwomseparatemandmdistinctmfunctio


ns



15. Harrymismpreparingmamrealmpropertymappraisalmreportmformhismclient.mWhichmUSPAPmStanda
rdmmustmhemfollowmwhenmpreparingmthismreport?m-mCORRECTmANSWERmSTANDARDm2



16. Anmappraiserminspectsmamsubjectmproperty,mwhichmismamvacantmapartmentmbuilding.mThema
ppraiser'smmeasurementsmandmfieldmnotesmfrommtheminspectionmwouldmbemconsideredmw
hatmtypemofmdata?m-mCORRECTmANSWERmSpecificmData

,17. Anmappraisermismvaluingmamsmallmapartmentmbuilding.mThemappraisermgathersminformationm
onmdemographicsmandmemploymentmtrends,mwhichmismusefulminmanalyzingmthemmarket.mTh
ismwouldmbemconsideredmwhatmtypemofmdata?m-mCORRECTmANSWERmGeneralmData



18. Themappraisalmdevelopmentmprocessmandmappraisalmreportingmprocessmaremconsideredmto
mbemonemfunction.m-mCORRECTmANSWERmFalse




19. Inmthemappraisalmprocess,mwhatmtypemofmdatampertainsmonlymtomthemsubjectmpropertymandm
comparables?m-mCORRECTmANSWERmSpecificmData



20. Davemismcompletingmammarketmvaluemappraisalmonmanmofficembuilding.mWhichmstatementmw
illmmostmlikelymbemTRUEmregardingmhismhighestmandmbestmusemanalysis?m-
mCORRECTmANSWERmHemwillmhavemtomdevelopmtwomhighestmandmbestmusemopinions.




21. Whatmismthemmostmprofitablemusemtomwhichmampropertymcanmbemput?m-
mCORRECTmANSWERmHighestmandmbestmuse




22. Whenmconsideringmlegalmpermissibilitymandmcurrentmlandmusemregulations,manmappraiserm
mustmalsomconsiderm__________.m-
mCORRECTmANSWERmReasonablymprobablemmodificationsmofmlandmusemregulations




23. Margotmismappraisingmamvacantmsitemwhichmismsuitablemformcommercialmdevelopment.mInms
electingmcomparablemsales,mwhatmwouldmlikelymbemhermmostmimportantmconsideration?m-
mCORRECTmANSWERmSalesmshouldmhavemthemsamemhighestmandmbestmuse




24. Ampropertymismimprovedmwithmambuilding,mandmismvaluedmatm$425,000.mItmwouldmcostm$50,
000mtomrazemandmremovemthembuilding,mandmthemvaluemofmthemvacantmsitemwouldmbem$500
,000.mUndermthismscenario,mrazingmandmremovingmthembuildingmwouldmbemconsideredm___
_________.m-mCORRECTmANSWERmFinanciallymfeasible

, 25. AnmappraisermtakesmsecondarymdatamonmamsalemfrommthemlocalmMLS,mandmpersonallymverifi
esmelementsmofmthemtransactionmandmthemphysicalmcharacteristicsmofmthempropertymwithmt
hempurchaser.mThismsalemwouldmnowmbemconsideredmwhatmtypemofmdata?m-
mCORRECTmANSWERmPrimarymData




26. Ambuildingmownerminstallsmamnewm"green"mroofmonmthemstructurematmamcostmofm$300,000.m
Themvaluemofmthembuildingmonlymincreasesmbym$200,000masmamresultmofmthemnewmroof.mThis
mdemonstratesmwhichmeconomicmprinciple?m-mCORRECTmANSWERmContribution




27. Valuemismamfact,mormanmestimatemofmfact.m-mCORRECTmANSWERmFalse



28. ThemConcentricmZonemModelmincludesmwhichmzones?m-
mCORRECTmANSWERmCommuter,mresidential,mworkingmclass,mtransition,mfactory,mLoopmorm


CentralmBusinessmDistrict



29. WhichmstatementmismFALSEmregardingmthemsalesmcomparisonmapproach?m-
mCORRECTmANSWERmWhenmthemappraisermhasmanmunderstandingmofmvalueminfluencesminmt


hemmarket,mthemapproachmismmoremreliable.



30. Cyndimcontactsmthembuyermandmverifiesmthatmamcomparablemsalemshemismusingmwasmpurchas
edmonmthemopenmmarket,mbetweenmamtypically-
motivatedmsellermandmbuyer,mwhomweremnotmrelatedmtomeachmother.mWhatmtypemofmsalemis
mthis?m-mCORRECTmANSWERmArm'smlengthmtransfer




31. Whatmismthemprimarympurposemofmthemsalesmcomparisonmapproach?m-
mCORRECTmANSWERmTomarrivematmamvaluemindicationmformthemsubjectmproperty




32. Themsalesmcomparisonmapproachmismprimarilymbasedmonmwhatmprinciple?m-
mCORRECTmANSWERmSubstitution