FL Trainee Appraiser Subject Matter Electives

Who is responsible for complying with USPAP? Appraisal companies only Individual appraisers only Individual appraisers and appraisal companies jointly An appraiser's clients

Individual appraisers only

According to the 2018 revisions to the AQB Criteria, an applicant for a Certified General Appraiser credential must have accumulated _____ hours of appraisal experience, during no fewer than ______ months. 1,000; 12 2,000; 20 2,500; 15 3,000; 18

3,000 18

Remediation measures should be taken if a house has a radon level of _________ picocuries per liter or higher.

4

Foundation drains usually consist of 4 inch perforated pipe 3 inch solid pipe 2 inch perforated pipe cast-iron or lead pipe

4 inch perforated pipe

Heat pumps are not very efficient when the outside air is below approximately ______ degrees. 70 60 50 40

40

About ______ of American homes have their own private water supply. 20% 40% 60% 80%

40%

Greywater constitutes about _____ % of residential waste water. 30 40 60 80

60

A green home sells for $441,000, while a similar non-green home sells for $370,000. What is the indicated bonus value for green construction? 14% 17% 19% There is no bonus factor indicated

19%

In framing, __________ are used over doors and windows to spread the load. Jacks Headers Cripple studs Plates

Headers

True or False: After Fannie Mae was taken into government conservatorship, it stopped purchasing loans on manufactured homes. True False

False

Which of the following are government sponsored enterprises?

Fannie Mae and Freddie Mac

Which of the following are known as government sponsored enterprises? Fannie Mae and Freddie Mac Fannie Mae and FHA FHA, VA, Fannie Mae, and Freddie Mac FHA and VA

Fannie Mae and Freddie Mac

To prevent mold growth, the EPA says you should not put carpet over ___________ floors.

concrete

You are performing an FHA appraisal on a manufactured home and you discover it has an addition. You should: complete the appraisal based on a hypothetical condition that the addition does not exist cancel the appraisal and notify the lender inspect the property to determine if it meets state and local codes condition the appraisal upon inspection by a state agency or a licensed structural engineer

condition the appraisal upon inspection by a state agency or a licensed structural engineer

You are performing an FHA appraisal on a manufactured home and you discover it has an addition. You should: cancel the appraisal and notify the lender complete the appraisal based on the hypothetical condition that the addition does not exist inspect the addition to determine whether it meets state and local codes condition the appraisal upon inspection by a state agency or licensed structural engineer

condition the appraisal upon inspection by a state agency or licensed structural engineer

True or False: In a green community, you will find that residents tend to feel a sense of solitude and isolation from other residents. True False

false

In order to be acceptable for appraiser qualifying education, an appraisal course must be a minimum of ____ hours in length. three seven ten fifteen

fifteen

Radon in water can be removed by

filtration or aeration

A manufactured home that is delivered in three sections is called a tagalong double-wide multi-section tip-out

multi-section

"A group of complementary land uses; a congruous grouping of inhabitants, buildings, or business enterprises" is the definition of opportunity zone neighborhood district marketing area

neighborhood

Which of these statements is not true of radon?

It has a half-life of two years.

Most Sears and Roebuck homes are found near shopping centers railroad lines lakes and rivers industrial sites

railroad lines

The easiest site to build on is one that is Level Sloping up Sloping down Terraced

Level

"The interests, benefits, and rights inherent in the ownership of real estate" is the definition of title bundle of rights real property personal property

real property

All interests, benefits, and rights inherent in the ownership of physical real estate; the bundle of rights with which the ownership of the real estate is endowed best describes: real property personal property HUD property business property

real property

When appraising property with environmental contamination, which RULE in USPAP is particularly pertinent? the JURIDICTIONAL EXCEPTION RULE the ENVIRONMENTAL RULE the RECORD KEEPING RULE the COMPETENCY RULE

the COMPETENCY RULE

Another name for the Manufactured Home Construction and Safety Standards is: ICC Code BOCA Codes the HUD Code Fannie Mae Construction Standards

the HUD Code

Manufactured homes must be built in compliance with: the Manufactured Home Construction and Safety Standards (MHCSS) BOCA codes Fannie Mae Construction Standards (FMCS) International Construction Codes (ICC)

the Manufactured Home Construction and Safety Standards (MHCSS)

Disciplinary action may be taken by ___________ if an AMC or person has influenced or attempted to influence the development, reporting, or review of an appraisal through coercion, extortion, collusion, compensation, inducement, intimidation, bribery, or any other means. the Appraisal Guild the Board The Appraisal Foundation any of these

the board

For real property appraisers, market value is: the most common type of value sought of little importance the last thing on their minds second to only investment value in importance

the most common type of value sought

The appraisal profession is regulated by a unique partnership between the federal government, state governments, and _____________. professional associations the private sector the international business community the legal profession

the private sector

In a properly-developed market value appraisal on a green property: energy savings are not to be considered the prospect of future energy savings is built into the process only green buildings can be used as comparable sales an appraiser should never use the word "green"

the prospect of future energy savings is built into the process

One advantage of precast concrete foundation walls is they are the least expensive type of foundation wall they are easy to remove and replace after they crack they are manufactured in a controlled environment which minimizes the effects of weather they are so light that they can be installed by two workers without motorized equipment

they are manufactured in a controlled environment which minimizes the effects of weather

Which is NOT true of molds?

they are microscopic animals

The value of some green properties could be affected because: buyers do not care about energy efficiency no one knows what they are really worth they may be difficult to finance they are more costly to maintain

they may be difficult to finance

The AQB requires an appraiser to have at least _____ years of experience as a certified appraiser before he or she may act as a Supervisory Appraiser to a Trainee. two three four six

three

A purchaser of a manufactured home that is considered personal property receives a _______ upon purchase. lease vestment quit claim deed title

title

The area of the country where most basements are found is the South Southwest North West

North

Which USPAP Standard establishes requirements for reporting a real property appraisal? STANDARD 1 STANDARD 2 STANDARD 8 STANDARD 10

STANDARD 2

What can now be employed instead of asphalt-saturated felt building paper on top of a roof deck, for waterproofing, before the finished roofing materials are attached? Tar paper Latex sealant Natural roof underlayment Synthetic roof underlayment

Synthetic roof underlayment Synthetic roof underlayment is a new product that can now be employed instead of asphalt-saturated felt building paper on top of a roof deck, for waterproofing, before the finished roofing materials are attached.

A new technology for reinforcing concrete to keep it from cracking is called Rebar reinforcement Styrofoam additive Synthetic-fiber reinforcement Fiber-cement adhesives

Synthetic-fiber reinforcement

Which is NOT a disadvantage of a hot water heat system? Radiators restrict furniture placement. System is inefficient, drafty, and dusty. Pipes could freeze and burst if power goes off. Water in pipes is susceptible to air blockage.

System is inefficient, drafty, and dusty.

A Supervisory Appraiser denies a Trainee Appraiser's ability to access workfiles for appraisals on which the Trainee assisted, when the trainee has been asked to submit reports to the state appraisal regulatory agency. What part of USPAP has the Supervisory Appraiser violated? The COMPETENCY RULE The RECORD KEEPING RULE STANDARD 1 No part of USPAP has been violated

The RECORD KEEPING RULE

The CERCLA law is also known as: Leaking Underground Storage Tank (LUST) Act The Superfund Act For Your Protection Get a Home Inspection The Dodd-Frank Act

The Superfund Act

At the beginning of the Trainee Appraiser's career, who is likely to bear primary responsibility for the scope of work determination in an appraisal assignment? The Trainee Appraiser The Supervisory Appraiser The client The Appraisal Standards Board

The Supervisory Appraiser

Who is responsible for instructing a Trainee Appraiser in appraisal ethics and appraisal methods and techniques? The Appraisal Foundation The appraisal school where the Trainee takes his or her courses The Supervisory Appraiser The Trainee Appraiser

The Supervisory Appraiser

Who is responsible for providing the Trainee Appraiser with an understanding of USPAP? The Supervisory Appraiser The Certified USPAP Instructor The Appraisal Foundation The state appraisal regulatory agency

The Supervisory Appraiser

A Supervisory Appraiser does not conduct his appraisal practice in accordance with USPAP. What is the MOST likely outcome for his Appraisal Trainee when she becomes certified? The former Trainee Appraiser will embrace USPAP and comply with it in all assignments The former Trainee Appraiser will never be permitted to supervise her own Trainee Appraiser The former Trainee Appraiser will not conduct her practice in accordance with USPAP The former Trainee Appraiser will become a Certified USPAP Instructor

The former Trainee Appraiser will not conduct her practice in accordance with USPAP

For an FHA loan, who is responsible for determining property eligibility? The borrower The FHA The appraiser The lender

The lender

Girders are constructed of High-strength plastic Fiberglass or copper Wood or steel None of these

Wood or steel

One nondestructive way to test paint to see if it is lead-based is:

X-ray fluorescence

The most accurate and non-destructive way to test for lead-based paint is

X-ray fluorescence

In what currently manufactured product would you be MOST likely to find lead?

X-ray shield

Appraiser Amy agrees to present a seminar for a small lending institution to explain appraisal issues to the institution's staff. Does the ETHICS RULE of USPAP apply to Amy in performing this activity? Yes, because Amy is providing an appraisal No, because Amy may be unethical if she wants to Yes, because Amy is acting as an appraiser No, because USPAP does not apply if Amy is not performing an appraisal

Yes, because Amy is acting as an appraiser

Asbestos has which of the following qualities: thermal insulation chemical stability an acoustic insulator all of these

all of these

Which of the following type of tank would NOT have to meet federal UST regulations? farm tanks holding less than 1,100 gallons of motor fuel tanks on or above the floor of underground areas flow-through process tanks all of these

all of these

Why is removal typically the last resort when you discover asbestos in your home? removal produces the greatest risk of fiber release removal is the most expensive method of dealing with asbestos removal must be done by a contractor with special training, therefore you cannot do it yourself all of these statements are true

all of these statements are true

A registered trainee appraiser wants to sign an appraisal report certification. How long must she be registered before she may sign a certification? 6 months 12 months 24 months There is no minimum requirement

b

An individual wants to become an appraiser trainee. How many hours of qualifying education courses must be completed to qualify to make application? 75 100 120 180

b

An individual wishes to become a Registered Trainee Appraiser in Florida, and has completed 75 hours of classroom instruction. Is she eligible to become registered?

b

Each registration, license, certificate, or instructor permit shall be renewed on a(an) ________ basis. Annual Biennial Every 3 year Every 6 month

b

How often does the Florida Appraisal Board meet? Once a year At least once each calendar quarter Bi-weekly Monthly

b

I am a certified residential appraiser and have been appraising for the last four years. I would like to be a Board member. According to 475.613: I am not eligible because I am also a real estate broker I am not eligible because I have not been an appraiser long enough I need to be appointed by the Governor and confirmed by the Senate I need to be appointed by the Appraisal Subcommittee

b

You are reading the Florida appraiser licensing law and you see a reference to "the Board". To what entity does this term refer? The Federal Reserve Board The Florida Real Estate Appraiser Board The Florida Board of Taxation and Equalization The Appraisal Practices Board of The Appraisal Foundation

b

You wish to be able to appraise any type of real property in Florida, without supervision. Which level of licensure or certification do you need? Certified Residential Certified General Trainee Appraiser Any of these

b

Prior to the mid-1980s, most USTs were made of titanium fiberglass concrete bare steel

bare steel

A single pane of glass has an R factor of about .5 1 2 5

.5

An inch of wood has an R factor of about 1 2 4 5

1

In a typical drainage field, how deep should the drain tile be below the surface of the ground? 1 foot 3 feet 4-5 feet 6 feet or more

1 foot

To obtain a Licensed Residential Appraiser credential, an applicant must obtain ______ creditable hours of appraisal education, according to the AQB Criteria. 120 150 200 2,000

150

To obtain a Licensed Residential Appraiser credential, an applicant must obtain ______ creditable hours of appraisal education. 120 150 200 2,000

150

Radon tests should be conducted for a minimum of _____ day(s).

2

______________ members of the Florida Real Estate Appraisal Board must represent the appraisal management industry.

2

The AQB minimum states that a Supervisory Appraiser must have _____ experience as a certified appraiser. 1 year of 2 years of 3 years of Extensive

3 years of

The list of the worst hazardous waste sites that have been identified by Superfund is called the ___________List. Really Bad Sites National Priorities Priority One Imminent Danger

National Priorities

The list of the worst Superfund sites is called: The Top 10 List National Priorities List The Worst Sites List The Quick Cleanup List

National Priorities List

The list of the worst Superfund sites is officially known as the: Top 10 List Worst Sites List National Priorities List Quick Cleanup List

National Priorities List

Soil maps are available through the National Parks Service Natural Resources Conservation Services U.S. Department of the Interior Federal Emergency Management Agency

Natural Resources Conservation Services

Soil maps are available through the U.S. Department of the Interior Natural Resources Conservation Services National Parks Service Federal Emergency Management Agency

Natural Resources Conservation Services

Joists are always laid _________________ the girder. Perpendicular to Below Parallel to Level with

Perpendicular to

If a certificate of title has been issued and state law permits surrender of the certificate of title, what must the lender do? Keep the title in their possesion Give the title to the mortgagee and request that they surrender it Surrender the certificate of title and obtain evidence that the certificate has been surrendered They have no obligations

Surrender the certificate of title and obtain evidence that the certificate has been surrendered

"Meeting the needs of the present without compromising the ability of future generations to meet their needs" is the definition of Bundling Sustainability Leverage Preservation

Sustainability

A duplex has 2,140 SF of GLA with two identical units each with 6 rooms, 3 bedrooms, 1 bathroom. Each rents for $1,150 per month. What is the indicated rent per square foot? $.93 $.97 $1.26 $1.07

$1.07 2,140 ÷ 2 = 1,070. 1,150 ÷ 1,070 = 1.07

A triplex has 2,990 SF of GBA with three identical units each with 5 rooms, 2 bedrooms, 1 bathroom. It sold for $428,000. What is the indicated sale price per unit? $143.14 $142,667 $152,667 $187,445

$142,667

A furnace costs $3,400 to replace, and is expected to last 20 years. What would be the appropriate charge for reserves for replacement for this item? $170 $225 $340 $3,400

$170

A duplex has two identical units with 5 rooms, 3 bedrooms, and 2 bathrooms, and a total of 2,440 square feet of GBA. It sold for $184,000. What did it sell for per room? $16,800 $18,400 $32,200 $36,800

$18,400

A four unit dwelling has four identical units with 4 rooms, 2 bedrooms, and 1 bathroom. The property sold for $324,000. What is the indicated sale price per room ? $20,250 $40,500 $66,667 $81,000

$20,250

A duplex has 2,140 SF of GBA with two identical units each with 6 rooms, 3 bedrooms, 1 bathroom. It sold for $254,000. What is the indicated sale price per room? $18,326 $21,167 $29,447 $42,333

$21,167 2 X 6 = 12 rooms. $254,000 ÷ 12 = $21,167.

A property has three units; the market rent for each unit is $850 per month. The indicated GRM is 90. What is the indicated value for the subject by the income approach? $218,000 $222,350 $229,500 $236,500

$229,500 3 X $850 = $2,550. $2,550 X 90 = $229,500.

A property has four units; the market rent for each unit is $750 per month. The indicated GRM is 135. What is the indicated value for the subject by the income approach? $405,000 $415,000 $427,000 $438,500

$405,000 4 X $750 = $3,000. $3,000 X 135 = $405,000.

A duplex has 2,140 SF of GBA with two identical units each with 6 rooms, 3 bedrooms, 1 bathroom. It sold for $254,000. What is the indicated sale price per bedroom? $21,167 $38,489 $42,333 $48,667

$42,333 i did 254,000 / (2)3

A roof on a 2-4 unit building costs $12,500 to replace and it has an estimated life of 25 years. What is the annual charge for reserves for replacement of this item? $450 $500 $600 $750

$500

According to the AQB minimum criteria, an applicant for a Certified General Appraiser credential must have accumulated a minimum of how many hours of non-residential appraisal work? 1,000 1,500 2,000 2,500

1,500

According to the 2018 revisions to the AQB Criteria, an applicant for a Certified Residential Appraiser credential must have accumulated _____ hours of appraisal experience, in no fewer than ______ months. 1,000; 12 1,200; 15 1,500; 12 2,000; 20

1,500; 12

questions

1. What problems or errors did you find in the Subject section? Here are some possible problems. You may have found more. Only the last names of the Borrower and Owner are supplied The Section and Block are given - but not the Lot number The Assessor's Parcel number is stated as N/A The Tax Year is stated as Current - it should be the actual year The Taxes are a rounded number, plus or minus - it needs to be an exact amount It says there is no Neighborhood name - that may or may not be true, but it should be checked It says there is no Census Tract - that is possible (there are a few rural areas with none) but it is unlikely in this area that the appraiser calls Urban in the Neighborhood Section The question marks under Special Assessments don't really cut it - you need to find out one way or the other 2. What problems or errors did you find in the Neighborhood section? An urban location generally correlates with a neighborhood that is more than 75% Built Up. It also is described as being on the north side of the city with good access to downtown and has municipal utilities. It sounds like Urban to me. The growth rate is stable and values are stable - but rents are increasing? The neighborhood description is a generic one liner. It only addresses multi-family properties, when the subject is a 2-4 unit property. It mentions access is good - but there is no public transportation (contradiction?). The access comments would be better under the Neighborhood Description Section - not the Market Conditions Section. The vacancy rate is called pretty low - but no actual rate is given What about supply and demand? 3. What problems or errors did you find in the Site section? According to the dimensions, the area is only .15 acre The "Close to Square" lot looks more rectangular to me The view needs to be better described than just "Average" If the zoning is legal nonconforming, then more investigation and explanation needs to be documented. Could it be rebuilt is destroyed, for example? It says it is not in a flood zone - but FEMA zone A is a flood hazard area It states there are no assessments (presumably special assessments) - when earlier there were questions marks when asked about special assessments in the Subject Section 4. What problems or errors did you find in the Improvements section? The property is more than 60 years old - do you agree with the effective age of 10 (2 kitchens 25 years old and general comments about the "pretty good condition)? Instead of number of square feet in basement it says "100 %" There are no comments about the sump pump - common in the area? High water table? Signs of dampness? The foundation wall condition is marked unknown - the basement is unfinished so the interior condition at least could be judged The roof surface condition is also "unknown" - it should be able to be observed from the ground, at least "some" is the answer for the gutters, storms sash and screens - those items ask for the materials they are made of and their condition, not the approximate number The three important questions that ask about evidence of infestations, dampness, and settlement are left blank The driveway surface is also left blank I would like to know the condition of the subject specifically, not how it compares with the neighborhood "Porch" is left blank, but the comments indicate there is a front porch Apparently, the appraiser sees no problems with the smoke, smog, cyanide plant or the airport 5. What problems or errors did you find in the Comparable Rental section? The location of the subject is cited as average and the three comps good - yet they are all within 5 blocks Comp 2 has only average condition, compared to the others with good condition, and yet has the highest rent per square foot Comp 3 is quite a bit larger and has 4 units - is it comparable? Even if you take away the fourth unit, it still has 2,700 sq. ft. It may be the best available but an explanation is in order The subject rent includes heat - one of the comps does also, but two do not. Should this be adjusted for in the market rent estimates? 6. What problems or errors did you find in the Subject Rent section? According to the comments, the subject has a fireplace - that was not mentioned in the Improvements Section 7. What was wrong in the Prior Sales History section? It is unacceptable to say the sales histories of the subject and rental comps is unavailable 8. What problems or errors did you find in the Sales Comparison section? There was no adjustment for sale 2's 0.4 acre lot but a $10,000 adjustment for sales 3's 0.5 acre lot. The subject has 1.5 baths. Sale 1 was adjusted for its 1 bath, but no adjustment was made for sales 2 with its 2 baths. There are no comments about the adjustments. For example, why was there an adjustment of $10,000 for functional utility? No explanations or support of adjustments for quality and age. Fortuitous reconciliation of sales data to come right to the sales price after an initial spread of $40,000 in the three sales prices. No explanation as why these were the three best sales. 9. What problems or errors did you find in the Income Approach section? The rent of $2,640 did come from the subject market rent analysis. However, the GRMs from the three sales were 72.9, 73.5, and 74.4. The appraiser chose 69 for the indicated GRM for the subject. The comments were really generic. 10. Did you find any problems in the Reconciliation section? What did you think of the final value estimate? If you consider the final numbers from the three approaches, the final value estimate seems supported. Two values are exactly the amount of the sales price. However, the support is hard to find, It is all about general statements that the data is good. Given that, how many of you would leave the final estimate at $181,750 and not round it appropriately? 11. What problems or errors did you find in the Cost Approach section? The Cost Approach was developed with round numbers for the costs per square foot with no indication of the source. The amount of depreciation (which was stated to "come from the market"), just happens to bring the final estimate to the exact amount of the sales price. What a coincidence!

An underground storage tank (UST) system is one in which at least _____% of the system is underground. 5 10 50 90

10

FHA says that no part of the finished grade level under a manufactured home may be below the ______ year flood level. 50 100 200 500

100

VA requires an appraiser to use which form to report the appraisal of a manufactured home? 1004 (URAR) 1004C 1025 VA does not require the use of appraisal report forms

1004C

Fannie Mae says an appraisal of a 3-unit property must be reported on the _________ form.

1025

An appraisal management company changes its business name. How many days are allowed for notice to the department? 10 20 30 60

10`

Doorbells and thermostats run on _______ volts of electricity. 12 60 110 220

12

What is the minimum acceptable SEER rating for an air conditioner? 10 13 15 18

13

A non-green home sells for $650,000, while a similar-size green home in the same neighborhood sells for $760,000. What is the indicated bonus value? 26% 17% 11% 8%

17%

Asbestos present in textured paint and in patching compounds used on wall and ceiling joint was banned in what year? 1987 1977 1997 2007

1977

FHA states that if a property improvement was built prior to ______, there may be a lead-based paint hazard. 1978 1983 1987 1995

1978

The federal government banned lead-based paint from residential housing in ___________ .

1978

Factory built homes represent about___ % of U.S. homebuilding. 5 10 15 20

20

An applicant for a Certified Residential Appraiser credential must have completed how many hours of appraisal education? 75 120 150 200

200

Fannie Mae came out with guidance in the form of a publication entitled "Focus on Titling for Manufactured Homes" in which year? 1998 2006 1974 2016

2006

When you appraise a two- to four-unit residential property for a Fannie Mae lender and at least one of the units is to be rented, the lender/client may require you to complete a form ________ to accompany the SRIPAR form. 1004 216 1007 2055

216

When you appraise a two- to four-unit residential property for a Fannie Mae lender and at least one of the units is to be rented, it is possible that the lender will require you to include a form ________ with the SRIPAR form. 1004 216 1040 2055

216 Along with the SRIPAR form you may need to include Form 216. Even though Fannie Mae does not specifically require this form, many lenders still require it.

The EPA says it is important to dry water damaged areas and items within _________ hours to prevent mold growth.

24-48

The EPA thinks that what percent of underground storage tanks are leaking? 25% 15% 10% 5%

25%

For private wells, an acceptable water flow would be about ______ gallons a minute. 1 to 2 3 to 4 8 to 9 10 or more

3 to 4

An owner of an AMC pleading guilty or nolo contendere to, or being convicted or found guilty of, any felony shall inform the Board within _______ days. 10 30 60 90

30

FHA says a manufactured home must be at least ___________ square feet. 400 600 800 There is no minimum for FHA

400

An AMC shall retain all contracts engaging appraiser's services for a period of not less than _____ years.

5

An applicant for a Trainee Appraiser credential must have completed his or her required appraisal courses within the ______ period immediately preceding the application. 6 month 3 year 5 year 10 year

5

The effects of radon exposure occur immediately within 6 months within one year 5-25 years later

5-25 years later

Appraiser Marie holds a valid Licensed Residential Appraiser Credential, and she wants to upgrade to a Certified Residential Appraiser credential. How many additional hours of appraisal education does she need, according to the AQB? 50 75 100 125

50

Trainee Appraiser Ed is trying to complete his qualifying education courses toward becoming a Certified Residential Appraiser. Which one of these courses would NOT count toward meeting that requirement? 30-hour Residential Sales Comparison and Income Approaches 15-hour Statistics, Modeling, and Finance 7-hour USPAP Update Course 20-hour course in Appraisal Subject Matter Electives

7-hour USPAP Update Course

A Trainee Appraiser wishes to upgrade to a Licensed Residential Appraiser credential. Under the AQB Criteria, how many additional hours of education must the Trainee Appraiser complete? 25 50 75 90

75

The bearing capacity of soil can range from 1 to _____ tons. 2 4 6 8

8

The Florida Real Estate Appraisal Board consists of _____ members. 3 5 7 9

9

An applicant for a Certified General Appraiser credential must have _________ from an accredited college or university. An Associate degree or higher A Bachelor's degree or higher A Master's or Doctorate degree 30 semester credit hours of education in economics and mathematics

A Bachelor's degree or higher

Unless he or she qualifies by completing a degree alternative, an applicant for a Certified Residential Appraiser credential must possess _________ from an accredited college or university. A Bachelor's degree or higher An Associate degree or higher A Master's degree A Doctoral candidacy, with or without completion of the dissertation

A Bachelor's degree or higher

Existing residential properties require flood insurance if they are in designated Flood Hazard Area FEMA Zone(s) A only A and C A and V V only

A and V

How are PEX plumbing joints fastened together? Soldering iron Glue Mastic A crimping tool

A crimping tool

If a property is subject to rent controls, you probably will be unable to employ A cost approach A gross rent multiplier approach Any of the usual site valuation methods A sales comparison approach

A gross rent multiplier approach

The AQB requirements for an experience log are: Only applicable to the Certified General Appraiser classification Merely a guideline, which a jurisdiction can ignore if they wish A maximum, which cannot be exceeded by the jurisdiction A minimum, which may be exceeded by the jurisdiction

A minimum, which may be exceeded by the jurisdiction

Which is not true of a manufactured home? Each one has a data plate on the interior A multi section home needs just one label There is a serial number stamped on the frame Each HUD label contains a three letter designation plus a six digit number

A multi section home needs just one label

NADA Base Structure Value does NOT include: A permanent foundation Transportation costs Built-in appliances Depreciation

A permanent foundation

NOT include: A permanent foundation Transportation costs Built-in appliances Depreciation

A permanent foundation

An AMC asks an appraiser to provide comparable sales for a subject property before the appraisal is "officially" ordered. This act by the AMC would be considered:

A violation of the Florida AMC law

Which statement is FALSE concerning wetlands? Some areas have been declared as wetlands that are dry for all but seven days a year. They can be found in high mountain plateaus. A wetland must be wet year-round. The United States loses about 60,000 acres of wetlands each year.

A wetland must be wet year-round.

The Advisory Opinion that is titled "The Appraisal of Real Property That May Be Impacted by Environmental Contamination" is AO-3 AO-6 AO-9 AO-17

AO-9

What are the two types of solar water heating systems? Conventional and tankless Active and passive Direct and indirect Flat plate and embedded circuit

Active and passive

As specified in the AQB Criteria, background screenings must be performed on: All applicants for a real property appraiser credential All existing credential holders Applicants for new credentials and existing credential holders Appraisal management companies

All applicants for a real property appraiser credential

Sheathing is applied to Strengthen the structure Provide a nailing surface Combat air infiltration All of the answers shown

All of the answers shown

In a market value appraisal, USPAP requires appraisers to analyze, if available in the normal course of business: The most recent prior sale of the subject property if it occurred within 3 years of the effective date of the appraisal All sales of the subject property that occurred within 3 years prior to the effective date of the appraisal All sales of the subject property that occurred within 3 months prior to the date of the report All prior sales of the subject property, regardless of how long ago they occurred

All sales of the subject property that occurred within 3 years prior to the effective date of the appraisal

Which entity maintains a national registry of licensed and certified appraisers? Appraisal Standards Board (ASB) Appraisal Subcommittee (ASC) Appraiser Qualifications Board (AQB) National Association of REALTORS

Appraisal Subcommittee (ASC)

Trainee Tom asks Appraiser Anne for access to a workfile for an assignment on which he had provided assistance to her. He is required to submit the report and workfile to the state appraisal regulatory agency as part of an experience audit. Anne does not want to provide access to this information. Which statement is TRUE regarding this situation? Anne may deny access to the workfile at her discretion. If Anne provides Tom access to the workfile, she will violate the Confidentiality section of the ETHICS RULE. Anne must provide access to the workfile in this situation. Tom was required to maintain his own copy of the workfile, and should have done so.

Anne must provide access to the workfile in this situation.

Fannie Mae disseminates changes in policies through Bulletins FAQs Announcements Advisory Opinions

Announcements

Sources of pesticide contamination inside houses include: Products used to kill ants and roaches Termiticides Products used on lawns that are tracked inside the house Any or all of these

Any or all of these

Which board within The Appraisal Foundation has the authority to make revisions to USPAP? Appraisal Practices Board (APB) Appraisal Standards Board (ASB) Appraiser Qualifications Board (AQB) All boards within the Foundation have the authority to revise USPAP

Appraisal Standards Board (ASB)

The three independent boards within The Appraisal Foundation include: Board of Trustees, Appraisal Standards Board, Appraisal Subcommittee Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees Board of Trustees, Fannie Mae Board, Freddie Mac Board Appraisal Standards Board, Federal Housing Administration, Veterans Administration

Appraisal Standards Board, Appraiser Qualifications Board, Board of Trustees

Who provides grants to The Appraisal Foundation to support the work of the ASB and AQB? Valuers Global Forum Appraisal Subcommittee National Association of REALTORS Department of Housing and Urban Development

Appraisal Subcommittee

Which federal entity maintains oversight authority over state appraisal regulatory agencies? The Appraisal Foundation (TAF) U.S. Department of HUD Appraisal Subcommittee (ASC) No one; these agencies are self-policing

Appraisal Subcommittee (ASC)

The SCOPE OF WORK RULE governs what aspect of an appraisal assignment? Assignment acceptance Appraisal reporting Appraisal development None, because it does not apply to appraisal

Appraisal development

Which board within The Appraisal Foundation is responsible for establishing requirements for appraiser licensure and certification? Board of Trustees (BOT) Appraisal Standards Board (ASB) Appraiser Qualifications Board (AQB) Board of Governors of the Federal Reserve System (FRB)

Appraiser Qualifications Board (AQB)

The ASC's National Complaint Hotline will provide referrals for complaints against: Appraisers only AMCs only Appraisers, lenders, AMCs or others Government entities such as state appraisal boards and HUD

Appraisers, lenders, AMCs or others

Before any wetlands are filled or drained, a Nationwide Permit must be obtained from the Army Corps of Engineers National Parks Service National Fish and Wildlife Service U.S Department of Agriculture

Army Corps of Engineers

The lead agencies for determining wetlands on non-agricultural property are Army Corps of Engineers and the EPA Army Corps of Engineers and HUD Natural Resources Conservation Service and HUD Natural Resources Conservation Service and the National Parks Service

Army Corps of Engineers and the EPA

The lead agencies for determining wetlands on non-agricultural property are the Department of Environmental Resources and the National Fish and Wildlife Service Army Corps of Engineers and HUD Army Corps of Engineers and the EPA Natural Resources Conservation Service and the National Parks Service

Army Corps of Engineers and the EPA

An appraisal management company is permitted to:

Ask an appraiser to correct factual errors

The most common type of roof covering today for houses is Wood shingles Metal Asphalt/fiberglass composition shingles Clay tile

Asphalt/fiberglass composition shingles

After a concrete foundation is poured it should be left to harden for ________ before removing the forms. One day At least two days 2-3 weeks At least a month

At least two days

After a concrete foundation is poured it should be left to harden for________ before removing the forms. One day At least two days At least a week A month or more

At least two days

The oldest model building code agency is BOCA HUD UBS SBC

BOCA

A framing innovation introduced around 1850 was _________ framing. Platform Post and beam Balloon Western

Balloon

A framing innovation introduced around 1850 was ______________ framing. Platform Post and beam Balloon Western

Balloon

Which of these is NOT a recognized method for estimating site value? Breakdown Extraction Sales comparison Allocation

Breakdown

__________ is installed in an "X" pattern to strengthen floor joists. Rebar A truss Bridging A pilaster

Bridging

Which of these is NOT a known carcinogen that can cause cancer?

Carbon monoxide

_____________ has been called the silent killer. Nitrogen dioxide Lead Carbon monoxide Formaldehyde

Carbon monoxide

The FFIEC Geocoding system is a good source for Census tract information Zoning Property taxes Flood zones

Census tract information

Which of the following appraisal credentials allows the credential holder to appraise any one-to-four family residential property, regardless of complexity? Licensed Residential Appraiser only Trainee Appraiser only Certified Residential Appraiser only Both Licensed Residential Appraiser and Certified Residential Appraiser

Certified Residential Appraiser only

Who is most at risk from lead? Seniors Former smokers Children 6 and under People with high blood pressure

Children 6 and under

Certain soils with a high ________ content that are susceptible to cracking are called expansive soils. Clay Moisture Iron Sand

Clay

Cross pieces that help prevent rafters from spreading under the weight of the roof are called Headers Bridging Trusses Collar ties

Collar ties

The definition of __________ appraisal includes the phrase "One in which the property to be appraised, the form of ownership, or the market conditions are atypical." Complex one-to-four family residential property Non-residential property Limited Non-federally related two-to-four family real property

Complex one-to-four family residential property

Parging is most commonly used in what type of foundation walls? Concrete block Wood Pre-cast concrete ICFs

Concrete block

Materials that transmit energy quickly are Transformers Conductors Resistors Insulators

Conductors

Which of these types of sites would generally be less desirable for a residential property? Cul-de-sac Dead end street View lot Corner lot

Corner lot

A state appraisal regulatory agency issues ________, while a professional appraiser organization awards ________. Designations, credentials Credentials, designations Designations, licenses Credentials, licenses

Credentials, designations

State appraisal regulatory agencies establish both standards of practice and ___________. Rules for use of the National Appraiser Registry Protocols for appraisals prepared for FHA loans Criteria for licensure, certification, and recertification that meet or exceed AQB minimums Morals

Criteria for licensure, certification, and recertification that meet or exceed AQB minimums

An exception to the AMC registration requirement would be a (an): Appraiser cooperative Appraisal portal Mortgage technology company Individual employee of an AMC

D

Where does radon come from?

Decay of uranium and radium in rocks and soil

An appraiser does not have the competency to perform an appraisal assignment and does not wish to acquire the competency. What does USPAP require the appraiser to do in this situation? Delegate the assignment to a Trainee Appraiser Decline the assignment Find another appraiser who does have the competency Inform the client that he or she intends to complete the assignment without having or acquiring competency

Decline the assignment

STANDARD 1 in USPAP establishes the requirements for: Reporting a real property appraisal Developing a real property appraisal Disclosing prior services provided regarding the subject property Customary and reasonable fees

Developing a real property appraisal

An appraiser wishes to accept an appraisal review assignment but she does not possess the necessary competency. What is the FIRST action she must take, according to the COMPETENCY RULE? Acquire the necessary competency through completion of coursework Affiliate with another appraiser who is competent to complete the assignment Disclose the lack of competency to the client before accepting the assignment Develop a credible opinion of the quality of the other appraiser's work

Disclose the lack of competency to the client before accepting the assignment

What are the two main types of plumbing systems? Distribution and contribution Waste and intake Distribution and drain/waste/vent Hot and cold water

Distribution and drain/waste/vent

"A type of market area characterized by homogeneous land use, e.g., apartment, commercial, industrial, agricultural" is the definition of a

District "A type of market area characterized by homogeneous land use, e.g., apartment, commercial, industrial, agricultural" is the definition of a district.

Percolation tests measure the ________ of the soil. Acidity Drainage capacity Bearing capacity Expansiveness

Drainage capacity

Synthetic stucco is also known as Hardie Plank Parging HVAC EIFS

EIFS

The Environmapper maps come from HUD FEMA NRCS EPA

EPA

An AMC operating in Florida must provide the name, address, telephone number, corporate title, and social security number or Fed. ID number of all of the following EXCEPT: Each officer and director Each owner of 10% or more interest Each manager Each employee of the AMC

Each employee of the AMC

___________________ is the additional or incremental risk of investing in, financing, buying and/or owning property attributable to its environmental condition. Diminution in value Environmental contamination Environmental risk Bonus value

Environmental risk

Under the Powers of the Board, the provisions authorize the Board to enact rules to: Establish administrative rules Protect appraisers from unfair competition Revise 475 part II without legislature approval Prosecute loan originators for ethics violations

Establish administrative rules

Before the AQB revises the Real Property Appraiser Qualification Criteria, it must first: Expose the proposed changes and solicit comments Demonstrate that the proposed changes will not affect the profession Formally poll all appraisers in the United States Receive formal approval from the U.S. Department of HUD

Expose the proposed changes and solicit comments

Which of the following are government agencies? Fannie Mae and Freddie Mac Fannie Mae and FHA FHA, VA, Fannie Mae, and Freddie Mac FHA and VA

FHA and VA

Which law mandated that all states must establish a program for appraiser licensing and certification? HVCC Dodd-Frank Act Truth in Lending Act FIRREA

FIRREA

______________housing is a generic term that includes any form of housing that is manufactured by precision techniques in a factory setting and then transported to the building site for final assembly. Factory built Manufactured Modular Pre-cast

Factory built

__________ and __________ are known as government-sponsored enterprises, and are sometimes referred to as "the GSEs". Fannie Mae and Freddie Mac Freddie Mac and FHA FDIC and FRB Fannie Mae and FHA

Fannie Mae and Freddie Mac

Older air conditioning systems typically employed _______ as a refrigerant. Argon Freon Krypton Neon

Freon

A roof with two similar pitches is a ______________ roof. Gambrel Gable Hip Shed

Gable

Which is not part of the foundation system? Girder Soil bed Footings Foundation walls

Girder

Which section in the 1004C form does not appear on the standard 1004 form? Neighborhood section Site section HUD Data Plate section Contract section

HUD Data Plate section

Energy recovery ventilators recover Energy only Heat only Heat and cold Heat and moisture

Heat and moisture

Which type of heating system allows the air to be filtered or moisturized MOST easily? Hot water heat Steam heat Hot air heat Radiant heat

Hot air heat

A hydronic heating system uses ___________ to heat a home. Hot water Hot air Radiant energy Geothermal energy

Hot water

A tankless coil water heater is part of what kind of heating system? Hot air Hot water Steam Geothermal

Hot water

The second highest utility expense in typical residences is Heating Cooling Lighting Hot water

Hot water

Which type of heating system has an expansion tank? Hot water heat Electric heat Hot air heat Radiant heat

Hot water heat

Rigid plastic foam forms that hold concrete in place during curing and remain in place afterwards to serve as thermal insulation for concrete walls are called SIPs CIFs ICFs FCIs

ICFs

A Supervisory Appraiser has his certification suspended by a state appraisal regulatory agency. When must the Supervisory Appraiser notify his Trainee Appraiser of this disciplinary sanction? Within 30 days Immediately Before the Supervisory Appraiser renews his credential The Supervisory Appraiser does not have to inform the Trainee Appraiser unless the Trainee Appraiser was involved in the appraisal that led to the disciplinary sanction

Immediately

Trainee Tom assists Supervisor Sandy in a real property appraisal assignment; however Tom does not sign the certification. Where does Tom's name have to appear in the report? It may appear anywhere Nowhere, because he didn't sign it In the certification In an addendum

In the certification

Which is not a feature of good plumbing practice? Insulate just the hot water supply pipes Keep piping runs as short as possible Install shutoff valves on every fixture riser pipe In cold climates, do not run supply pipes in exterior walls and unheated areas

Insulate just the hot water supply pipes

USPAP defines an appraiser as one who ___________. Is expected to perform valuation services competently and in a manner that is independent, impartial, and objective Is licensed or certified by the state where he or she is domiciled Has received formal training in appraisal procedures, practice, and ethics Has successfully completed the 15-hour National USPAP Course or its AQB-approved equivalent

Is expected to perform valuation services competently and in a manner that is independent, impartial, and objective

A Trainee Appraiser who performs the cost approach repeatedly on residential appraisal assignments:

Is forming habits that may be good or bad

Which is NOT true concerning formaldehyde? It is a colorless, odorless gas. It may be found in new draperies. It may be found in new cars. It is used as an embalming fluid.

It is a colorless, odorless gas.

Which statement BEST describes The Appraisal Foundation? It is made up of eight U.S.-based organizations and one from Canada. It is a federal government agency. It is a non-profit organization established for educational and scientific purposes. It is the organization responsible for enforcing the requirements of USPAP.

It is a non-profit organization established for educational and scientific purposes.

Which is NOT true of lead?

It is radioactive.

Which form of wiring came first? BX Aluminum Non-metallic Knob and tube

Knob and tube

The HUD code for manufactured home construction went into effect on January 1, 1974 June 1, 1975 June 15, 1976 July 15, 1978

June 15, 1976

Which of the following is something a homeowner should do with asbestos? Peel the insulation away from the furnace pipes and vacuum it up Sand asbestos flooring Use abrasive pads to strip wax from asbestos Keep activities to a minimum in areas with damaged asbestos

Keep activities to a minimum in areas with damaged asbestos

A slot in the top of a footing to lock the foundation wall to the footing is called a Keystone Lockway Keyway Pourlock

Keyway

What is the generic term for homes that are pre-cut and assembled on site? Geodesic dome Post and beam home Pre-engineered home Kit home

Kit home

"The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands; all natural resources in their original state, e.g., mineral deposits, wildlife, timber, fish, water, coal deposits, soil" is one definition of Site Improvements Land Parcel Site

Land

Which of these is NOT a characteristic of Superfund hazardous substances? Ignitability Corrosivity Luminosity Toxicity

Luminosity

Impact fees are usually imposed by Developers Homeowners associations School districts Municipalities

Municipalities

Which type of home has wheels, axles, and a tow hitch? Modular home Kit home Panelized home Manufactured home

Manufactured home

An alternative method of extracting an adjustment is asking people who are knowledgeable in the market (buyers, sellers, agents, brokers, other appraisers) what the contributing value of a feature would be. This method is called The Neilsen method Ranking analysis Hearsay evidence Market survey

Market survey

The Residential Estimator 7 program is offered by:

Marshall & Swift

Fannie Mae and Freddie Mac say that the appraiser must rate the quality level of the manufactured home based on objective criteria of a published cost service; they specifically mention: CoStar and LoopNet HUD and VA Fannie Mae and Freddie Mac Marshall & Swift and the NADA Guide

Marshall & Swift and the NADA Guide

Which of these would not be considered to be green development incentives? Reduced impact fees Density bonuses Maximized building footprints Expedited permitting

Maximized building footprints

An access and retrieval agreement between a Trainee Appraiser and a Supervisory Appraiser: Must be in writing Is illegal Must comply with the form and format specified in USPAP May be written or oral

May be written or oral

The HUD Certification label is made of ___________ and is located on the ___________ of a manufactured home. Metal, interior Paper, interior Metal, exterior Paper, exterior

Metal, exterior

Which statement about molds is FALSE? Molds are odorless. Mold spores cannot be seen by the naked eye. Stachybotrys is a strain of black mold. Mold colonies can never become dormant.

Molds are odorless.

A one-piece footing system is called a __________ slab-on-grade. Mononuclear Floating Unitized Monolithic

Monolithic

Who produces base structure values for manufactured homes? NADA HUD Marshall & Swift Freddie Mac

NADA

The Certified Green Professional designation is offered through the Appraisal Foundation NAHB USGBC GBFC

NAHB

Does Ms. Wallach have any current disciplinary actions that limit her ability to appraise? Yes No

No

A Trainee Appraiser is assisting in an appraisal under a Supervisory Appraiser. The Trainee Appraiser had provided prior real estate brokerage services on the subject property within the prior three years. The Trainee Appraiser is not signing the report certification. Does USPAP require the Supervisory Appraiser to disclose the prior service provided by the Trainee Appraiser? Yes, because the Trainee Appraiser has an obvious conflict of interest No, however if the appraiser believes disclosure is necessary, then it should be made Yes, the Supervisory Appraiser is required by USPAP to disclose this prior service provided by the Trainee Appraiser No, but the Trainee Appraiser is precluded from assisting in this assignment

No, however if the appraiser believes disclosure is necessary, then it should be made

May a Supervisory Appraiser provide blanket authorization for an experienced Trainee Appraiser to use the supervisor's signature? Yes, as long as the authorization is in writing No, this is specifically prohibited by the ETHICS RULE Yes, but the Trainee Appraiser must be careful not abuse this trust No, because an appraiser is never allowed to affix the signature of another appraiser to a report

No, this is specifically prohibited by the ETHICS RULE

After you complete an appraisal report for an AMC, the AMC emails you and asks that you correct a square footage error in Comparable 3. Is this act by the AMC a violation of Florida law? Yes; any requests for modifications to a report are violations of the licensing law No; an AMC may request the appraiser to correct objective factual errors Yes; but nothing will be done about it unless the appraiser files a complaint No; but it is a violation of the federal Dodd-Frank Act

No; an AMC may request the appraiser to correct objective factual errors

An appraiser is inspecting a dwelling that was built in 1975 for an FHA appraisal. The appraiser notes defective paint surfaces on two exterior windowsills. What should the appraiser do? Require testing by a professional to determine if the defective paint is lead-based Note the locations of the defective paint and make the appraisal subject to these areas being scraped and painted Require the windowsills to be replaced with all new wood and painted with non-lead based paint Nothing; these are exterior surfaces and are considered to be harmless to the property occupants

Note the locations of the defective paint and make the appraisal subject to these areas being scraped and painted

An appraiser notes that chemical fumes from a nearby industrial plant affect the marketability of the property. When appraising the property for an FHA-insured loan, what should the appraiser do? Report that the property has no value Contact the EPA Cancel the appraisal Notify the lender

Notify the lender

A common trend in subflooring today is the use of Planking Interlocking plastic panels OSB ICF

OSB

If you found an appraisal credential for Ms. Wallach in a state other than Missouri, what state was it in? Illinois Texas Oklahoma She held no state credentials other than Missouri

Oklahoma

A Trainee Appraiser wishes to take the examination to become a Certified Residential Appraiser. When may he take the exam? Any time he wishes to take it After he has completed the required education After he has accumulated the required number of experience hours Only after he completes his education and experience requirements

Only after he completes his education and experience requirements

With regard to the ASB and USPAP, what are Advisory Opinions considered? An integral part of USPAP, and is intended to be enforceable An addendum to the USPAP publication which must be purchased separately Other communications from the ASB The equivalent to Standards and Rules

Other communications from the ASB

A Level 1 Environmental Site Assessment is also known as a Comprehensive Contamination Source Liability Report Phase 1 assessment Phase 2 assessment Restricted Appraisal Report

Phase 1 assessment

Which of these would not be included in site improvements? Grading Utility hookups Porch Curb

Porch

Which was the earliest type of framing system? Post and beam Platform Structural Insulated Panel Balloon

Post and beam

With regard to the Superfund Act, the abbreviation PRP stands for: Partially regulated potentiaries Potentially responsible parties Publicly repayable portion Punishing renegade polluters

Potentially responsible parties

With regard to the Superfund Act, the abbreviation PRP stands for: Partly regulated potentiaries Publicly repayable portion Potentially responsible parties Punishing regenade polluters

Potentially responsible parties

Today, most foundations are made of Wood Brick or poured concrete Poured concrete or ICFs Poured concrete or concrete block

Poured concrete or concrete block

An appraiser contacts the ASC's National Complaint Hotline because she believes an AMC has attempted to improperly influence her. What can the appraiser expect the hotline to do? Initiate a complaint on behalf of the appraiser Arbitrate the complaint Provide a referral for a complaint Follow up on a complaint referral

Provide a referral for a complaint

Which type of heat maintains the least temperature extremes between the floor and the ceiling? Radiant heat Hot air heat Hot water heat Steam heat

Radiant heat

With respect to location, one of the most significant trends in commercial green building is: Rooftop soccer fields Building underground on contaminated sites Re-use of existing building sites Building on piers over water

Re-use of existing building sites

Metal reinforcing rods are called Reebok Rebar Resins Braces

Rebar

In the appraisal of a 2-4 unit property, properties that are used as rental comparables must be: Currently listed for sale Rented Rented at the time they were sold Vacant

Rented

The Marshall and Swift Residential Cost Handbook provides ___________, while the NADA Guide provides ________________. Replacement cost, Base Structure Value Reproduction cost, average retail book value Average retail book value, replacement cost Reproduction value, average retail book cost

Replacement cost, Base Structure Value

Sustainable forms of insulation may exhibit all of the following characteristics except Rapidly renewable Require lengthy warning labels Non-toxic Contain recycled products

Require lengthy warning labels

The Trainee Appraiser is responsible for having a basic understanding of minimum AQB requirements for licensure, as well as:

Requirements of the credentialing jurisdiction that may exceed those of the Criteria

The Trainee Appraiser is responsible for having a basic understanding of minimum AQB requirements for licensure, as well as: Requirements to become a Supervisory Appraiser Knowing how to inspect a 1-4 family residential property for a mortgage-lending appraisal Requirements of the credentialing jurisdiction that may exceed those of the Criteria The knowledge required to become an AQB Certified USPAP Instructor

Requirements of the credentialing jurisdiction that may exceed those of the Criteria

The slope of a roof is expressed as _____________. Pitch over rise Rise over slope Rise over run Pitch over run

Rise over run

A structural system composed of a core of rigid foam insulation laminated between two layers of structural board is called an OSB RFP SIP FRB

SIP

Panels that are typically made by sandwiching a core of rigid foam plastic insulation between two structural skins of oriented strand board are called SIPs ICFs FSBs ARPs

SIPs

When clearing a site, what should be done with the topsoil? Send it to the landfill Send it out for chemical analysis Bury it under the footings Save it to put back later

Save it to put back later

Home test kits for lead based paint:

Should not be relied upon by consumers before doing renovations

Termite shields can be installed between the foundation wall and the _____________ Ground Joists Slab Sill

Sill

"Improved land or a lot in a finished state so that it is ready to be used for a specific purpose" is the definition of: Plot Situs Plat Site

Site

Which of the following construction types does the Marshall & Swift Residential Cost Handbook cover? Site built housing only Manufactured housing only Multi-family housing only Site built, manufactured, and multi-family housing

Site built, manufactured, and multi-family housing

When testing USTs what is it called when a probe is inserted and air samples are analyzed for petroleum content? Negative pressure test Tank integrity tests Soil vapor tests Probe test

Soil vapor tests

Evaporative cooling systems are used primarily in the Northeast Southeast Southwest Midwest

Southwest

A new kind of sustainable spray insulation that expands and hardens up to 100 times its size is based on Corn oil Recycled plastic water bottles Soy Glucose

Soy

Under the HUD Code program, __________ are established to check and approve designs and calculations used in the construction of manufactured homes. State or third-party agencies ICC Codes Federal inspectors Random spot checks

State or third-party agencies

USTs used before the mid-1980s were usually made of what material? Fiberglass Steel Aluminum Copper

Steel

The earliest American foundations were made of Brick Stone Concrete Wood

Stone

What is the most popular type of water heater today? Tankless Heat pump Storage tank Solar

Storage tank

An attached section to a manufactured house which is the same in both structure and quality to the section to which it is attached, but not necessarily the same length, is called a Hitch Tagalong Bay Trailer

Tagalong

The employing company for a Trainee Appraiser has policies that do not comply with USPAP. What should the Trainee Appraiser do? Comply with the employing company's policies File a complaint against the company with the state appraisal regulatory agency File a grievance with The Appraisal Foundation Take whatever steps are necessary to ensure USPAP compliance

Take whatever steps are necessary to ensure USPAP compliance

Which of the following UST tests is NOT recommended for residential tanks? Soil borings Tank integrity tests Soil vapor tests Probe test

Tank integrity tests

___________ water heaters avoid standby heat losses.

Tankless

When appraising a manufactured home situated in a condominium project for Fannie Mae, what appraisal report form should be used? The 1004 The 1004C The Condo form (1073) Fannie Mae does not permit appraisals of manufactured homes in condominium projects

The 1004C

Which was NOT a direct result of the passage of FIRREA? USPAP was upgraded from a voluntary to a mandatory standard The Appraisal Foundation was established Each state was required to set up an appraiser licensing/certification program The financial institution regulatory structure was changed

The Appraisal Foundation was established

______________ establishes education, experience, and other criteria for licensing, certification, and recertification of appraisers. The Appraiser Instructor's Guild The Appraisal Institute The Appraiser Qualifications Board (AQB) The Federal Reserve Board

The Appraiser Qualifications Board (AQB)

Who is responsible for appointing members to the Appraiser Qualifications Board? Appraisal Practices Board (APB) The Secretary of HUD The AQB appoints its own members The Board of Trustees (BOT)

The Board of Trustees (BOT)

Which of these cost services provides information for manufactured homes only? Residential Xpress Residential Cost Handbook The NADA Guide Residential Estimator 7

The NADA Guide

An appraiser uses NADA to estimate the cost of a manufactured home, then subtracts physical depreciation and adds site value to arrive at an indicated value. What, if anything, did the appraiser do wrong? The appraiser used an inappropriate source for cost new, as NADA is not recognized in the marketplace The appraiser has double-depreciated because NADA already includes physical depreciation The appraiser failed to add the value of furniture and site improvements The appraiser has done nothing wrong in this example

The appraiser has double-depreciated because NADA already includes physical depreciation

A house is located directly under a high-voltage powerline and is located within the easement itself. Which statement is TRUE regarding the property's eligibility for a VA loan? The property is ineligible. The local VA Field Office will determine eligibility. The property is eligible without any conditions or restrictions. The property is eligible if the electric company provides a letter stating that the house is permitted to be located under the powerline.

The property is ineligible.

An appraiser violates the laws of his state when performing an appraisal. Which entity may take disciplinary action against him? The Appraisal Practices Board (APB) The Appraisal Standards Board (ASB) The state appraisal regulatory agency Any and all of these entities may pursue disciplinary action

The state appraisal regulatory agency

You believe an amendment to the Appraiser Licensing Law should be made. Who has the power to make this amendment?

The state legislature

As the term "Trainee Appraiser" is used in the AQB Criteria, it refers to which state-specific terms? Trainee Appraisers only Provisional Appraisers only Registered Appraisers only The term "Trainee Appraiser" refers to all of these

The term "Trainee Appraiser" refers to all of these

Which is not a true statement about cool metal roofs? They are shiny and reflect the sun's rays. They weigh more than conventional shingle roof systems. They are durable. They contain at least 25% recycled materials.

They weigh more than conventional shingle roof systems.

Which statement is FALSE regarding Fannie Mae and Freddie Mac? They are the largest purchasers of residential mortgages in the U.S. They are federal government agencies. They have appraisal requirements that appraisers must follow in addition to USPAP. They were taken into government conservatorship in 2008.

They are federal government agencies.

Which is NOT true of roof trusses? They are 3 to 4 times as strong as rafters. They transfer all the weight to the outside walls. They are usually fabricated on site. The interior walls are non-load-bearing.

They are usually fabricated on site.

Which statement about green buildings, according to the USGBC, is false? They have lower indoor air quality. They consume less energy. They have lower maintenance costs. They have higher occupant satisfaction.

They have lower indoor air quality.

Which of the following is NOT true about the process of manufacturing HUD Code homes? Design and engineering costs can be reduced due to standardized procedures and models. Material costs can be cut through bulk purchasing. Construction is not subject to weather delays. They must comply with local codes.

They must comply with local codes.

Power will be delivered from a utility pole to a building via _________ wires. One Two Three Four

Three

Trainee Appraiser Tim has more than one Supervisory Appraiser. Which statement is TRUE regarding his obligation to maintain experience logs?

Tim should maintain separate experience logs for each Supervisory Appraiser.

Which type of access is generally preferable for a residential property? Right of way Right of way with maintenance agreement Town road Shared easement

Town road

Which type of appraisal credential does not require an applicant to possess any appraisal experience? Licensed Residential Appraiser Trainee Appraiser Certified Residential Appraiser None of these classifications requires an applicant to possess appraisal experience

Trainee Appraiser

According to the EPA, sources of carbon monoxide in houses would include all of the following EXCEPT: Automobiles in attached garages Back-drafting from furnaces Trucks on adjacent highways Unvented kerosene heaters

Trucks on adjacent highways

Which insulation was deemed hazardous? Wool Styrofoam Cellulose UFFI

UFFI

Which type of insulation was deemed hazardous? Wool Styrofoam Cellulose UFFI

UFFI

For Fannie Mae, appraisals of modular homes are to be reported using the ________ form. small residential income property condominium URAR manufactured home

URAR

You are estimating the site value for a manufactured home appraisal prepared for a Fannie Mae lender, but there are no site sales available. What should you do? Refuse to develop the cost approach and use the sales comparison approach only Use an alternative method, such as allocation or extraction Withdraw from the appraisal assignment Use a rule of thumb to estimate the site value

Use an alternative method, such as allocation or extraction

The Appraisal Foundation periodically issues ____________ which are voluntary guidance regarding recognized appraisal methods and techniques. Valuation Advisories Warning Letters Mortgagee Letters Bulletins

Valuation Advisories

The Appraisal Foundation periodically issues _____________ which are voluntary guidance regarding recognized appraisal methods and techniques. Valuation Advisories Qualification Notices Appraisal Bulletins Warning Letters

Valuation Advisories

We should consider three potential separate zones for outdoor activities. Which would not be one of these zones? View area Private area Public area Service area

View area

In electrical systems, the pressure is called Amperage Voltage Wattage Pounds per square inch

Voltage

Which would not be considered as a use for recycled greywater? Wash cars Wash clothes Flush toilets Water grass

Wash clothes

The higher the _____________, the higher the probability of underground contamination. Water table Soil emissivity Swell potential Soil pH

Water table

Which of these is NOT on the EPA's list of methods you should not use to remove lead- based paint? a wet sander a propane torch a dry scraper a belt sander

a wet sander

Which of these is NOT on the EPA's list of methods you should not use to remove lead-based paint? a wet sander a propane torch a dry scraper a belt sander

a wet sander

When is the income approach required in an FHA appraisal of a 2-4 unit property? When at least one unit is tenant-occupied In all cases When it is necessary for credible results Only when the property is a four-unit

When it is necessary for credible results

Stucco can be applied over ___________ that is attached to solid sheathing. Plywood Rebar Wood latticework Wire mesh

Wire mesh

Stucco can be applied over _______________ that is attached to solid sheathing. Fiberglass anchors Rebar Wood lattices Wire mesh

Wire mesh

When using the NADA Guide to estimate the cost of a manufactured home, you need to know the: Size Manufacturer's name Year built All of these

all

A state appraisal regulatory agency wants to establish a requirement that a Supervisory Appraiser must have 5 years of experience as a certified appraiser. Is the state permitted to do this? No, the state must adopt the AQB requirements without revisions Yes, because states may adopt requirements that exceed those of the AQB No, because the Appraisal Subcommittee would never accept such a requirement Yes, but the state is prohibited from enforcing the requirement if it is challenged in court

Yes, because states may adopt requirements that exceed those of the AQB

A Certified General Appraiser wants to act as a Supervisory Appraiser. The appraiser received a formal reprimand from the state appraisal regulatory agency 18 months ago, but has had no disciplinary issues before or since that time. Is the appraiser qualified to be a Supervisory Appraiser? Yes, because the appraiser is currently "in good standing", and the prior action did not affect the appraiser's eligibility to engage in appraisal practice No, because the disciplinary action permanently disqualifies the appraiser from ever acting as a Supervisory Appraiser Yes, because the disciplinary action occurred over one year ago No, because a formal reprimand affects the appraiser's legal eligibility to engage in appraisal practice

Yes, because the appraiser is currently "in good standing", and the prior action did not affect the appraiser's eligibility to engage in appraisal practice

An AMC asks an appraiser to provide comparable sales for a subject property before the appraisal is "officially" ordered. This act by the AMC would be considered: A violation of the Florida AMC law Not illegal, but definitely unethical Part of the normal course of business for an AMC A permitted act under the federal Dodd-Frank Act

a

An appraiser prepared a report in May 2014 and testified about the appraisal report in June 2016. The decision was appealed and, in December 2016, the court remanded the case to trial for further consideration. The appeal is still pending. Which of the following is true? Under 475.629, the case is still pending, and the appraiser is required to keep the workfile for at least two years after the final disposition. Under 475.629, the appraiser must keep the workfile until May 2012. Under 475.629, the appraiser must keep the workfile until December 2013. Under 475.629, the appraiser must keep the workfile until December 2012.

a

As required in Rule 61J1-7.001, designation and number are required on: Newspaper ads displaying the services of the appraiser Return address on business envelopes Checks or other type of negotiable instruments Invoices or billing statements

a

If an appraiser's inactive status is more than 6 months, but does not exceed 1 year, the continuing education requirement to reactivate is ______ hours. 30 45 60 75

a

Lead is

a chemical element

Asbestosis is best described as a chronic inflammatory condition of the lungs a brand name of asbestos siding a modern method of asbestos removal a type of floor tile that contains an asbestos-like fiber

a chronic inflammatory condition of the lungs

Fannie Mae says that if a manufactured home is new, the lender must provide the appraiser with a color copy of the sales brochure a copy of the sales brochure and the dealer's invoice a copy of the executed sales contract and the dealer's invoice a complete set of blueprints and architectural drawings

a copy of the executed sales contract and the dealer's invoice

Fannie Mae says that manufactured home must be attached to a permanent foundation a full basement at least 6 feet high municipal utilities a paved driveway surface

a permanent foundation

Which of these would you be LEAST likely to find in a green community? hiking trails and recreation areas higher-density built-up areas with large green space areas development of retail or office uses a sense of solitude and isolation among the residents

a sense of solitude and isolation among the residents

In the site value section of the cost approach on the 1004C form, you are asked for support for the opinion of site value by citing: USPAP Standards Rule 1-1 a summary of comparable land sales HUD Handbook 4000.1 your best judgment as an appraiser

a summary of comparable land sales

Which of these types of tanks would be excluded from federal UST regulations? above ground tanks tanks storing heating oil used on the premises septic tanks tanks of 110 gallons or less

above ground tanks

In the site value section of the cost approach on the 1004C form, the comparable sales should be analyzed according to some pertinent unit of comparison. For vacant land, an appropriate unit of comparison would be price per: bedroom mile acre cubic foot

acre

Which of the following is a site where there is no contamination, but it shares a property line with a source site? non-source site source site adjacent site alpha site

adjacent site

Under USPAP, an appraiser is not permitted to be a/an __________ or to perform assignments with __________ . advocate, expertise expert witness, competency advocate, bias agent, knowledge

advocate, bias

In a manufactured home, the HUD data plate is affixed inside the home when it leaves the factory kept on file at the factory affixed to the exterior of the home when it leaves the factory under the home, on the frame rail behind the axles

affixed inside the home when it leaves the factory

The valuation of green buildings today is analogous to the valuation of buildings with ________________ 50-60 years ago. compact fluorescent light bulbs air conditioning garages green roofs

air conditioning

Which is NOT a typical way that radon enters a house? foundation cracks well water air conditioning ducts the hole around the sump pump

air conditioning ducts

Which would NOT be a common way that radon could enter a house? foundation cracks well water air conditioning ducts the hole around a sump pump

air conditioning ducts

Most molds are toxic are found in the southwestern United States are not toxic cause neurological disorders

are not toxic

Which is NOT a typical characteristic of a manufactured home? steel undercarriage wheels and axles at least 4 boxes tow hitch

at least 4 boxes

When appraising a manufactured home, FHA requires an appraiser to use _______ sales of manufactured homes in the sales comparison approach. a minimum of one at least two no fewer than three a maximum of four

at least two

The NADA chart values assume the home is in ________ condition. average good fair new

average

A classroom hour is defined as: 55 minutes out of each 60-minute segment 50 minutes out of each 60-minute segment 45 minutes out of each 60-minute segment 40 minutes out of each 60-minute segment

b

A person who contracts with an appraiser or appraisal management company for the performance of appraisal services is defined as the: Contractor Client Borrower AMC manager

b

A prospective Supervisory Appraiser was disciplined by FREAB twice in the last four years. Both violations were minor and did not result in suspensions or limitations on the appraiser's ability to practice. Is this appraiser currently eligible to act as a Supervisory Appraiser to a Registered Trainee Appraiser? Yes; because neither disciplinary case resulted in a suspension or limitation on practice No; because the appraiser has been disciplined twice within the prior 5 years Yes; because prior disciplinary actions have no bearing on an appraiser's ability to be a Supervisory Appraiser No; because any disciplinary action within the prior 5 years disqualifies the individual from being a Supervisory Appraiser

b

The SRIPAR form uses which measure(s) of square footage? GLA, but not GBA GBA, but not GLA both GLA and GBA neither GLA nor GBA

both GLA and GBA

If any party to the mortgage transaction informs the lender that an environmental hazard exists in or on the property or in the vicinity of the property, Fannie Mae requires that the lender must disclose that information to only the borrower both the buyer and the seller both the borrower and the appraiser appropriate Federal authorities

both the borrower and the appraiser

If any party to the mortgage transaction informs the lender that an environmental hazard exists in or on the property or in the vicinity of the property, Fannie Mae requires that the lender must disclose that information to the borrower only both the buyer and the seller both the borrower and the appraiser the FHA

both the borrower and the appraiser

Fannie Mae says that any dwelling unit ______________ and attached to a permanent foundation system is a manufactured home for purposes of their guidelines. built in a factory over 400 square feet with a 3/12 pitched roof built on a permanent chassis

built on a permanent chassis

Ceiling tiles infected with common mold should be disposed of:

by them to a landfill

Ceiling tiles infected with common mold should be disposed of: by them to a landfill by getting a permit by using a licensed hazardous waste handler by encapsulating them plastic and burning them

by them to a landfill

A Florida appraiser is asked to develop and communicate an opinion of the quality of another appraiser's work. What would you consider this assignment? An appraisal An analysis assignment An appraisal review A consulting service

c

A Registered Trainee Appraiser is trying to find a Supervisory Appraiser. Who is permitted to act as a Supervisory Appraiser in Florida? A Certified Residential Appraiser only A Certified General Appraiser only A Certified Residential or Certified General Appraiser only Any credentialed appraiser in good standing in Florida

c

A registered trainee appraiser may receive compensation for appraisal services from: Federally regulated institutions only AMCs Authorized supervisory appraiser State-chartered banks

c

An AMC in non-compliance with the 475 part II AMC provisions is subject to a maximum fine of: $500 per offense $2,500 maximum $5,000 per offense $25,000 maximum

c

An amendment to the Florida appraiser licensing law is being discussed. Who has the power to amend this law? The governor Florida Department of Business and Professional Regulation (DBPR) The legislature The Appraisal Subcommittee

c

An appraiser prepared a report in September 2014 and testified about the appraisal report in May 2015. Final disposition of the case occurred in January 2016. Under 475.629, the appraiser must keep the workfile until: September 2021 May 2020 September 2019 May 2018

c

Assuming he or she is competent, when may a Registered Trainee Appraiser inspect a subject property without the Supervisory Appraiser being present? After the trainee has accumulated 250 hours of appraisal experience After the trainee has accumulated 1,000 hours of appraisal experience After the trainee has been registered for 12 months Never

c

For a certified general appraiser applicant, experience hours must total: 2,000 2,500 3,000 3,500

c

I am a certified residential appraiser and have been appraising for the last six years. I would like to be a Board member. According to 475.613: I am not eligible because I am also a real estate broker I am not eligible because I have not been an appraiser long enough I need to be appointed by the Governor and confirmed by the Senate I need to be appointed by the Appraisal Subcommittee

c

Which federal law required Florida and other states to set up a program for licensure and certification of real estate appraisers? Truth in Lending Act Dodd-Frank Wall Street Reform and Consumer Financial Protection Act Financial Institutions Reform, Recovery, and Enforcement Act Federal Fair Housing Act of 1968

c

Who is permitted to supervise Registered Trainee Appraisers in Florida? Certified Residential Appraiser only Certified General Appraiser only Certified Residential Appraiser or Certified General Appraiser only Any licensed or certified appraiser in good standing

c

Lead is still used in:

car batteries

Some manufactured home parks have been purchased collectively by the homeowners as apartment complexes cooperatives limited liability corporations communes

cooperatives

In appraising two- to four-unit income producing property, there is more emphasis placed on all of these items, except for income approach reconciliation competitive supply and demand cost approach

cost approach

A Florida Certified Residential Appraiser has been certified for 3 years, with a clean disciplinary history. Is this appraiser eligible to act as a Supervisory Appraiser? Yes; because the appraiser has been certified for 36 months Yes; because the appraiser has been certified for 36 months Yes; although the appraiser must first pass the Supervisory Appraiser exam No; because the appraiser has not been certified for 48 months

d

A Florida supervisory appraiser must have been certified for _____ years before being allowed to have trainees. 1 2 3 4

d

A Registered Trainee Appraiser has been registered for 9 months. She inspects a subject property unaccompanied by her Supervisory Appraiser. The Supervisory Appraiser inspects the subject property later in the same day. Is this a permitted practice in Florida? Yes; because both individuals inspected the property on the effective date No, only the Supervisory Appraiser is permitted to inspect the subject property Yes; because the Trainee Appraiser has been registered for over 6 months No; they must both be at the subject property at the same time

d

A Registered Trainee Appraiser in Florida is contacted by an AMC working as an agent of a lender who wants to order an appraisal. Is the Trainee permitted to accept this assignment from the AMC? Yes; as long as the AMC is appropriately properly registered in Florida No; because an AMC may not work as an agent for a lender Yes; as long as the Trainee Appraiser is compensated by his or her supervisor No; a Trainee Appraiser may only accept assignments from his or her supervisor

d

A current Registered Trainee Appraiser is preparing to take post-licensure education courses. This person needs to complete ____ hours of post-licensure education over one renewal period. 3 15 30 45

d

A registered trainee appraiser may receive appraisal assignments from: Federally regulated institutions only Mortgage brokers AMCs Supervisory appraiser

d

An individual in Florida wishes to receive a new Licensed Appraiser credential. What must he or she do in order to obtain one? Meet only the AQB minimum requirements Meet both the AQB minimum requirements and the Florida minimum requirements Accumulate 2,000 experience hours as a Registered Trainee Appraiser Florida no longer issues new Licensed Appraiser credentials

d

How many years of experience must each of the four appraisers have who are serving on the Florida Appraisal Board? At least 1 At least 2 At least 3 At least 5

d

The Board may do any of the following EXCEPT: Fine an AMC up to $5,000 Investigate the actions of an AMC Revoke an AMC's registration Cause an AMC employee to be terminated

d

The biennial registry fee for licensed and certified appraisers required by the Appraisal Subcommittee is: $25 $40 $50 $80

d

What must be included in a trainee's advertising? The name of the head of the appraisal board The name of every trainee in the company The full name of the trainee, including middle name The name and license number of the trainee's supervisory appraiser

d

When the total period of inactive status exceeds _____ years, the registration, license, or certification shall automatically expire. 1 2 3 4

d

________ of the members of the Florida Appraisal Board must be licensed or certified residential real estate appraisers and __________ of the members must be certified general real estate appraisers. 1, 2 3, 2 1,1 2,2

d

The 1004C form asks the appraiser to provide the location of the data plate HUD label manufacturer's invoice stove and refrigerator

data plate

When using the NADA Guide for a cost figure on a manufactured home, which of these would be included in the cost figure? depreciation land value septic system and site improvements shipping for up to 800 miles

depreciation

Regardless of the topography of the site, the builder must do whatever is necessary to: direct surface water away from the house make sure the house sets as low as possible direct surface water towards the house direct surface water onto adjoining properties without worrying about where it actually goes

direct surface water away from the house

Regardless of the topography of the site, the builder must do whatever is necessary to: direct surface water towards the house direct surface water away from the house have the house set as low as possible on the lot drain the property without worrying about where the water ends up

direct surface water away from the house

"The anticipated income from all operations of the real property after an allowance is made for vacancy and collection losses" is the definition of potential gross income other income effective gross income net operating income

effective gross income

Net operating income is equal to _________ minus __________. potential gross income, operating expenses effective gross income, replacement allowance potential gross income, allowance for vacancy and credit loss. effective gross income, operating expenses

effective gross income, operating expenses

Net operating income is equal to _________ minus ___________. potential gross income, operating expenses effective gross income, replacement allowance potential gross income, allowance for vacancy and credit loss effective gross income, operating expenses

effective gross income, operating expenses

When using the NADA Guide or MH CONNECT, the appraiser chooses the quality level of the manufactured home by: selecting "good," "average," or "poor" from a drop-down menu entering the manufacturer's name and model name looking at photographs of similar manufactured houses reading text descriptions of similar manufactured houses

entering the manufacturer's name and model name

Sustainable design considers the construction stage site only entire life cycle of the building functional obsolescence caused by using recycled materials

entire life cycle of the building

"An adverse effect on property value produced by the market's perception of increased environmental risk due to contamination" is the definition of environmental stigma environment risk impaired value as-repaired value

environmental stigma

A Supervisory Appraiser who knowingly allows a Trainee Appraiser to communicate a misleading report has violated _________ of USPAP. The RECORD KEEPING RULE The ETHICS RULE The REPORTING RULE No part

ethics rule

How often do ASC representatives perform an on-site review of each state's appraisal licensing and certification program? Monthly Every year Every two years Every three years

every 2 years

How often do ASC representatives perform an on-site review of each state's appraisal licensing and certification program? monthly every year every two years every three years

every two years

When completing a Form 216 Operating Income Statement, how should you treat any income from owner-occupied units?

exclude it

Molds can consume all of the following EXCEPT

formica

Which of the following is NOT a typical building component that needs replaced at least once in a building's lifetime? roof foundation water heater boiler

foundation

R. Buckminster Fuller invented the geodesic dome kit home log home SIP paneled home

geodesic dome

"The practice of creating structures and using processes that are environmentally responsible and resource-efficient" is the definition of: political correctness green building functional obsolescence life-cycle cost accounting

green building

Sustainable building is often referred to as _______________. green building hippie housing recycled dwellings an outdated concept

green building

Which unit of measurement is primarily used in the appraisal of 2-4 unit residential properties? gross living area gross building area cubic footage gross yard area

gross building area GBA is used in 2-4 unit properties.

All of these are places you are likely to find mold in a house, except for around the tub and shower window sills utility rooms in your freezer

in your freezer

All of the following are benefits of wetlands, EXCEPT flood buffer increased agricultural production wildlife habitat erosion resistance

increased agricultural production

All of these are benefits of wetlands, EXCEPT flood buffer increased agricultural production wildlife habitat erosion resistance

increased agricultural production

If a certificate of title has been issued but state law doesn't provide for its surrender, the lender must: omit the title in the loan file inform the state that they don't intend to disclose the lien indicate the real property lien on the certificate of title sell the loan to Freddie Mac and not Fannie Mae

indicate the real property lien on the certificate of title

Asbestos is only dangerous when it is new wet inhaled heated

inhaled

Over the years, asbestos has been used for insulation only fire protection only insulation and fire protection insulation and an additive in paint

insulation and fire protection

As a Trainee Appraiser's knowledge and experience grows, what should happen to the Supervisory Appraiser's scope of review? It should increase It should decrease It should continue even after the Trainee Appraiser becomes licensed or certified The Supervisory Appraiser can allow the Trainee Appraiser to operate unsupervised

it should decrease

Which is NOT a characteristic of radon? it is odorless it is colorless it's a mineral it can be found in water

it's a mineral

Which of these is NOT a health effect of exposure to carbon monoxide? flu-like symptoms impaired vision and coordination kidney failure headaches

kidney failure

Certification 11 in the URAR says, "I have ____________ in appraising this __________ of property in this ____________." a basis, type, location independence, kind, district knowledge and experience, type, market area experience, style and age, neighborhood

knowledge and experience, type, market area

What type of tank is covered by federal UST regulations? septic tanks large industrial tanks home heating oil tanks farm tanks holding less than 1,100 gallons of motor fuel

large industrial tanks

The primary sources of lead exposure for most children are all of these things EXCEPT

lead-based home insulation

Owners of existing manufactured homes on ___________ land have limited alternatives for financing. fee simple leased less than 1 acre of level

leased

Certification 7 in the URAR says, "I selected and used comparable sales that are _______________, physically, and ___________ the most similar to the subject property." comparatively, fundamentally locationally, functionally characteristically, adjustment-wise environmentally, locationally

locationally, functionally

Asbestos exposure can lead to lung cancer chronic back pain heart disease shingles

lung cancer

Exposure to asbestos can lead to lung cancer chronic back pain heart disease shingles

lung cancer

Which type of factory-built home is generally the biggest seller? modular manufactured log dome

manufactured

For Fannie Mae, an appraisal of a single-unit manufactured home in a cooperative project is to be reported using the ________ form. small residential income property URAR manufactured home cooperative

manufactured home

For Fannie Mae, an appraisal of a single-unit manufactured home in a cooperative project is to be reported using the __________ form. cooperative manufactured home URAR small residential income property

manufactured home

Which type of factory built home is characterized by a HUD label affixed to the exterior of the home? modular home manufactured home pre-cut, kit, and panelized homes both modular and manufactured homes

manufactured home

NADA provides cost figures for: site-built homes only manufactured homes only both manufactured and site-built homes residential, commercial, and industrial structures

manufactured homes only

A marriage wall is a characteristic of a ____________ home. pre-cut panelized modular log

modular

What types of housing must comply with state and local codes? all types of housing, including manufactured homes modular only modular, pre-fabricated and panelized manufactured only

modular, pre-fabricated and panelized

"The actual or anticipated net income that remains after all operating expenses are deducted from effective gross income but before mortgage debt service and book depreciation are deducted" is the definition of ___________ income. net modified gross gross net operating

net operating

Fannie Mae says in its guidelines, "The typical residential real estate appraiser is neither expected nor required to be an expert in this specialized field. However, the appraiser has a responsibility to notify appropriate federal agencies within 10 days of inspecting the property note in the appraisal report any adverse conditions hire an expert in environmental assessments and include their opinions in the report notify the borrower of any problems

note in the appraisal report any adverse conditions

Fannie Mae expects that when an appraiser has knowledge of any hazardous condition, he or she must _____________ the hazardous condition in the appraisal report, _____________ any influence that the hazard has on the property's value and marketability, and make ________________in the overall analysis of the property's value. note, comment on, appropriate adjustments emphasize, report, note note, explain, negative adjustments explain, comment about, considerations

note, comment on, appropriate adjustments

If a property is suspected of, or has, environmental contamination FHA requires that the appraiser notify the lender cancel the appraisal value the property as if uncontaminated obtain an estimate of remediation cost

notify the lender

Form 1004C is used to report an appraisal on one-unit manufactured homes two- to four-unit manufactured homes modular homes all single family homes, regardless of construction type

one-unit manufactured homes

"The periodic expenditures necessary to maintain the real estate and continue production of the effective gross income, assuming prudent and competent management" is the definition of ______________. cash flow depreciation expense operating expenses book depreciation

operating expenses

The primary difference between gross and net income is vacancy value cost income operating expenses

operating expenses

"Income derived from the operation of a business or real property; indicates a stage in the profit-and-loss account where all direct costs and income from the operation have been taken into account; as distinguished from net profit or cash flow" is also known as: cost income lender income derived income operating income

operating income

The HUD data plate is made of aluminum paper cast iron tin

paper

The Supervisory Appraiser's role in the Supervisor-Trainee relationship is analogous to that of a:

parent

The most common contaminant found in brownfields is asbestos lead petroleum formaldehyde

petroleum

How are quality levels chosen when using the Marshall & Swift Residential Cost Handbook to develop a cost of a manufactured home? photos only by inputting the manufacturer's name and model name photos and basic descriptions all manufactured homes are of the same quality

photos and basic descriptions

Certification 2 in the URAR says, in part, "I identified and reported the ___________ deficiencies that could affect the ____________, soundness, or ________________ of the property." apparent, structure, appearance functional, layout, structural acceptability physical, livability, structural integrity economic, safety, marketability

physical, livability, structural integrity

"The total income attributable to real property at full occupancy before vacancy and operating expenses are deducted" is the definition of _____________ income. potential gross other effective gross net operating

potential gross

Asbestos can be found in all of the following products EXCEPT insulation for pipes resilient floor tile roof shingles pressure treated wood

pressure treated wood

A _____________site is not contaminated, is not adjacent to, but is close to the source site. non-source source grayfield proximate

proximate

Which of the following is pre-determined by NADA based on the track history of the model and manufacturer? quality level land value address external obsolescence

quality level

Fannie Mae will purchase only loans secured by __________ consisting of a manufactured home and __________ . real property, leased land personal property, leased land personal property, owned land real property, owned land

real property, owned land

According to Fannie Mae, adjustments for seller concessions should: not be made if sales concessions are common for the area reflect the difference between what the comparable sold for with the concession and what it would have sold for without the concession be based on strict cash equivalency be made to the subject property's sale price based on the amount of concessions made in each comparable property transaction

reflect the difference between what the comparable sold for with the concession and what it would have sold for without the concession

Usually the most effective way to improve indoor air quality is increase insulation stop air leaks use only organic products remove the sources of pollution

remove the sources of pollution

The 1004C form says that, in the cost approach, the appraiser must "provide adequate information for the lender/client to ______________ your cost figures." agree with replace underwrite replicate

replicate

The URAR says "The appraiser may expand the ______________ to include any additional research or analysis necessary based on the complexity of this appraisal assignment." assumptions and limiting conditions limiting conditions and hypothetical conditions cost approach section scope of work

scope of work

To repair asbestos, a professional should: grind down the material burn the material seal the material tear down the building

seal the material

NADA's estimated value for manufactured homes includes an allowance for: shipping up to 300 miles furniture and curtains a full basement foundation a covered front porch and an 8' x 8' wood deck

shipping up to 300 miles

The leading cause of lung cancer is radon smoking caffeine lead

smoking

To take advantage of the sun, a lot should ideally be sloped to the North West Northwest Southeast

southeast

The earliest American foundations were made of Brick Stone Concrete Wood

stone

"The sum of all fixed and variable operating expenses and the replacement allowance cited in the appraiser's operating expense estimate" is the definition of _____________ expenses. net total operating reserve gross operating

total operating

"The sum of all fixed and variable operating expenses and the replacement allowance cited in the appraiser's operating expense estimate" is the definition of ______________ expenses.

total operating

True or False: Green building is the practice of creating structures and using processes that are environmentally responsible and resource-efficient. True False

true

True or False: NADA produces Base Structure Values for manufactured homes. True False

true

The market value of a known contaminated property, developed under the hypothetical condition that the property is not contaminated, is known as: impaired value unimpaired value adjacent value as-is value

unimpaired value

the ________ form. small residential income property condominium URAR manufactured home

urar

Form 1004C is almost identical to which of the following? Form 1020 Form 1300C URAR form HUD form

urar form

The most wetlands have been drained for recreation areas tree farming highways urban development

urban development

What will generally be dictated by supply and demand characteristics of the local rental market? net income vacancy allowance cost new of the improvements deferred maintenance

vacancy allowance

What is "green washing"? when an appraiser appraises a green property but does not use green comparable sales when a person falsely claims a structure is green without a third-party certification when a person obtains a third-party certification on a green home when a person washes the exterior of the home with an environmentally-friendly detergent

when a person falsely claims a structure is green without a third-party certification

According to ENERGY PULSE, 86% of Americans: cannot name two sources of renewable energy do not care about energy efficiency would choose one home over another based on energy efficiency have allergies that require them to live in a home with no Volatile Organic Compounds (VOCs)

would choose one home over another based on energy efficiency