Salesperson Preview Lesson Answer this short quiz after viewing the video. 1. After the appraiser has collected all the data and applied the appropriate appraisal method(s), what is the next step in the appraisal process?(A) simply average out the value estimates; (B) reconcile or correlate the values found in the different approaches; (C) assign appropriate value to individual estimates and average the total number; (D) give an opinion of value. 2. When an appraiser uses the market data approach to appraisal, she would be most interested in the date:(A) the price was agreed upon;(B) escrow was opened;(C) recording occurred;(D) escrow closed. 3. Which type of appraisal report has the following headings: Introduction, Site and Improvement Analysis, Supporting Data, Opinion of Value?(A) letter report;(B) form report;(C) narrative report;(D) oral report. 4. What appraisal license is required to appraise a strip mall valued at $500,000?(A) certified general real estate appraiser; (B) certified residential real estate license; (C) residential license; (D) trainee license. 5. When the highest and best use of a property is expected to change, the current use is called:(A) the temporary use; (B) the interim use; (C) the transitional use; (D) the possible use. 6. When homes in an area represent the highest and best use of the land and are similar in architectural design, this would best exemplify which of the following principles of appraisal?(A) change; (B) conformity; (C) contribution; (D) progression and regression. Loading...
