Mckissock

Agents of Production The factors that combine to create value of developed real property; they include land, labor, capital, and entrepreneurial coordination; which is sometimes also called entrepreneurial profit. Central Business District (CBD) The center of an urban area is typically zoned for various uses such as retail, office, and residential. Further, in some areas, transportation starts & ends in the CBD since it is the central location for employment. Consumption A common concept i...

The power of a given commodity to satisfy a need or want is called __________________. Utility The development of a vacant land area is _____________ the highest and best use of the land. Not Always The Consistent-Use Theory says the _______________ must all be valued considering the same highest and best use of the property Land and the Buildings ________________ involves subdividing the larger market into a workable study area. Market Identification The ________________ Cycle of a ...

A property owner constructs a six-car garage at a cost of $80,000. It only adds $40,000 in value to the property. What economic principle does this best demonstrate? Contribution What are the four agents of production? land, labor, capital, coordination The principle of contribution is most closely associated with: the Sales Comparison Approach (The contributory value of a given amenity is the public's perception of its actual contribution to value when considering the overall value of th...

15-hour National USPAP Course - McKissock Question and answers verified to pass15-hour National USPAP Course - McKissock USPAP contains what 4 sections? - correct answer 1) The Preamble 2) Definitions 3) Rules 4) Standards USPAP Provides... - correct answer 1. A common basis for comparison 2. A reference source for all users of the document 3. A basis for uniform enforcement for state regulatory agencies 4. A reason for clients, other intended users, and the public to place their t...

Appraisal Procedures - Mckissock Quiz Questions and answers already passedAppraisal Procedures - Mckissock Quiz Questions True or False: An appraiser's client must always directly engage the appraiser. - correct answer False A step-by-step procedure that can be applied to any type of appraisal assignment is - correct answer The valuation process True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. - correct answer ...

Basic Appraisal Principles Final Exam Question and answers 100% correct Basic Appraisal Principles Final Exam In a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? - correct answer there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a business and share in its profits and losses" is the definition of - correct answer part...

Basic Appraisal Procedures - McKissock Question and answers rated A+ Basic Appraisal Procedures - McKissock Valuation process - correct answer A systematic procedure used in the valuation of real property. Client - correct answer The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem - correct answer Identification and location of the real estate; Identification of the property rights; Definition of value; Purpo...

Basic Appraisal Procedures Chapter 12 - Comprehensive Review Quiz Questions with complete solution Basic Appraisal Procedures Chapter 12 - Comprehensive Review Quiz A property has a cost new of $350,000. It has an effective age of 20 years and a total expected economic life of 65 years. There are curable items totaling $45,000. If they are cured, it will reduce the effective age to 15 years. What is the value of the improvements on a modified age-life basis, before including the site value?...

Basic Appraisal Procedures McKissock Question and answers correctly solved Basic Appraisal Procedures McKissock Valuation Process - correct answer Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process - correct answer 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile es...

Chp.1 Basic Appraisal Principles, McKissock Question and answers verified to passChp.1 Basic Appraisal Principles, McKissock USPAP defines an appraiser as.... - correct answer one who performs valuation services in a manner that is independent, impartial, and objective. FIRREA stands for - correct answer Financial Institutions Reform, Recovery, and Enforcement Act of 1989 What is one of the first things an appraiser must do when accepting an assignment? - correct answer Identify clien...