Real Estate Principles - Final Exam Questions

Real Estate Principles - Final Exam Questions As part of the overall requirement for continuing education, certified and licensed appraisers must complete the 7-Hour National USPAP Update Course or its equivalent ________ calendar year(s). every 2 "The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. capital All of the following would be considered to be economic influences on value EXCEPT Options: Interest Rates, Zoning, Unemployment Rates, Consumer Price Index Answer: Zoning bc it is a gov't force A lot measures 217 feet by 264 feet. It sold for $55,000. What was its price per acre? (Hint: when making calculations, round to 2 places!) $41,667 Which entity is responsible for monitoring state appraiser licensing and certification agencies? The Appraisal Subcommittee In USPAP, the word "Ethics" is defined nowhere The ________ is responsible for establishing criteria for individuals to become real property appraisers. Appraiser Qualifications Board "The study of the cost-benefit relationship of an economic endeavor" is the definition of feasibility analysis