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PRINCIPLES OF REAL ESTATE 2 CHAMPION EXAM WITH ANSWERS
Question : appraisal
Correct answer: value of a property maybe affected by
social, economic, govt and environmental influences
Question : Loan-to-Value Ratio (LTV)
Correct answer: The percentage of value or sales price
that a lender is willing to finance.
Question : limited appraisal report
Correct answer: exterior only/drive by inspection. deemed
as low risk loan
Question : highest and best use of property
Correct answer: legal use that gives the greatest return
Question : Principal of Contribution
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