{"id":112059,"date":"2023-08-15T10:16:05","date_gmt":"2023-08-15T10:16:05","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=112059"},"modified":"2023-08-15T10:16:06","modified_gmt":"2023-08-15T10:16:06","slug":"basic-appraisal-procedures-final-exam-2023-2024-actual-exam-250-questions-and-correct-detailed-answers-verified-answers-agrade","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/08\/15\/basic-appraisal-procedures-final-exam-2023-2024-actual-exam-250-questions-and-correct-detailed-answers-verified-answers-agrade\/","title":{"rendered":"BASIC APPRAISAL PROCEDURES FINAL EXAM 2023-2024 ACTUAL EXAM 250 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |AGRADE"},"content":{"rendered":"\n<p>BASIC APPRAISAL PROCEDURES FINAL EXAM<br>2023-2024 ACTUAL EXAM 250 QUESTIONS AND<br>CORRECT DETAILED ANSWERS (VERIFIED<br>ANSWERS) |AGRADE<br>Any interest in real estate one may have other than the full bundle of<br>rights. &#8211; ANSWER- Partial interest<br>A listing service whereby local member brokers agreed to share listings<br>and commissions on property sold jointly &#8211; ANSWER- Multiple listing<br>service<br>Analyzing the values derived from the different appraisal approaches to<br>arrive at the final opinion of value. &#8211; ANSWER- Reconciliation<br>The type and extent of research and analysis in an appraisal or appraisal<br>review assignment &#8211; ANSWER- Scope of work<br>Information that is relevant to the subject property. Two types of<br>specific data are subject property data and comparable data &#8211; ANSWERSpecific data<br>Data that includes information on the subject property site improvements<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ANSWER- Subject property data<\/li>\n<\/ul>\n\n\n\n<p>Specific data that includes information about comparable sale properties,<br>as well as income and cost information &#8211; ANSWER- Comparative<br>purpose data<br>Professional appraisal standards promulgated by the appraisal<br>foundation and widely recognized throughout the United States as<br>accepted standards of appraisal practice &#8211; ANSWER- USPAP<br>The documentation necessary to support the appraiser&#8217;s analysis,<br>opinions, and conclusions &#8211; ANSWER- Workfile<br>Market Analysis, Highest and best use analysis &#8211; ANSWER- Data<br>Analysis<br>An easement the burdens one piece of land for the benefit of another &#8211;<br>ANSWER- Appurtenant easement<br>An exception that allows a property owner to legally deviate from<br>certain building codes or setback requirements &#8211; ANSWER- Area<br>variance<br>A limit on the number of buildings that maybe constructed within a<br>given space &#8211; ANSWER- Building density<br>A condition that exists in the real estate market when they&#8217;re slightly<br>more homes available than buyers &#8211; ANSWER- Balance<\/p>\n\n\n\n<p>General swings in business, resulting in an expanded and contracting<br>activity during different phases of the cycle &#8211; ANSWER- Business<br>cycles<br>A land use the does not comply with the general zoning rules for the<br>zoning which is located, but is permitted because it benefits the public.<br>This is also called a special exception &#8211; ANSWER- Conditional<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>A Contract<\/li>\n\n\n\n<li>A promise.<\/li>\n\n\n\n<li>A Guarantee<\/li>\n\n\n\n<li>A restrictive covenant<br>Seen in a document such as a deed or a lease. &#8211; ANSWER- Covenant<br>A person who has easement rights on anothers property; either the owner<br>of a dominant tenement or someone who has an easement in gross &#8211;<br>ANSWER- Dominant Tenant<br>A property that benefits from an easement &#8211; ANSWER- Dominant<br>Tenement<br>A right to use some part of another person&#8217;s real property for a particular<br>purpose. An easement is irrevocable and creates an interest in the<br>property. &#8211; ANSWER- Easement<\/li>\n<\/ol>\n\n\n\n<p>An easement that benefits a person instead of a piece of land; there is a<br>dominant tenant but no dominant tenement &#8211; ANSWER- Easement in<br>Gross<br>The dimension across the access side of a parcel of land. When a lot size<br>is stated, the first number is lot frontage &#8211; ANSWER- Frontage<br>A legal description for land, referencing principal meridians and base<br>lines designated throughout the country &#8211; ANSWER- Government<br>Survey System<br>A pre-existing condition allowed to continue under old laws, even<br>though laws have since been changed &#8211; ANSWER- Grandfathered<br>A middle or inside lot &#8211; ANSWER- Inlot<br>A general pattern of four phases (growth, stability, decline, and<br>revitalization) which neighborhoods, districts and other market areas go<br>through &#8211; ANSWER- Life Cycles<br>Exact position of real estate &#8211; ANSWER- Location<br>The legal description that starts at a easily identifiable point of<br>beginning, that describes the property boundaries in terms of courses and<br>distances, ultimately returning to the point where started. &#8211; ANSWERMetes and bounds system<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BASIC APPRAISAL PROCEDURES FINAL EXAM2023-2024 ACTUAL EXAM 250 QUESTIONS ANDCORRECT DETAILED ANSWERS (VERIFIEDANSWERS) |AGRADEAny interest in real estate one may have other than the full bundle ofrights. &#8211; ANSWER- Partial interestA listing service whereby local member brokers agreed to share listingsand commissions on property sold jointly &#8211; ANSWER- Multiple listingserviceAnalyzing the values derived from the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-112059","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/112059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=112059"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/112059\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=112059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=112059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=112059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}