CA Real Estate Principles Course » 2021 » Section 12 Unit 5 Exam

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Question #1
Which category of appraiser can appraise any residential property without any limitations related to value or complexity, but only non-residential properties valued below $250,000?
A.   Certified general appraiser
B.   Certified residential appraiser
C.   Residential license
D.   Trainee license
Question #2
Which of the following actions toward an appraiser would be considered proper?
A.   Making payment of an appraisal report conditional on the value or estimate to be reached
B.   Asking an appraiser to correct errors in the appraisal report
C.   Threatening to no longer do business with an appraiser
D.   Withholding payment for a completed appraisal report
Question #3
What does the Financial Institutions Reform, Recovery, and Enforcement Act require?
A.   Federally related appraisals must be conducted by an appraiser who's either licensed or certified by the state.
B.   Federally related transactions need not be appraised.
C.   Real estate licensees who perform appraisals must have a federal security clearance.
D.   Non-federally related transactions must be appraised by government employees.
Question #4
Which type of appraisal report is lengthy and often used for complex properties?
A.   Form report
B.   Restrictive report
C.   Letter report
D.   Narrative report

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